NZ Oil & Gas (NZO)

[digger]

I sent a query to NZOG, just got a reply that drill site construction is progressing, and still expect to spud in December.

Good, still on track then as given at the AGM. Still hoping for results at end feb as was the plan then.
About time we got on ticking offf some of these prospects with the drill. Can not just keep adding them. So it is starting to look like the old NZOG i used to like,with the later prospects here in NZ where we have the compartive advantage. Also good to see teaming up with other oilers along the line given at the AGM that we are working to be the driller of choice here in NZ .Starting to look like the next few years are not to be missed.

[the machine]

[QUOTE=Mr Tommy;386385]I sent a query to NZOG, just got a reply that drill site construction is progressing, and still expect to spud in December.[/QUOTE

thanks Mr Tommy


M

[Crypto Crude]

Strong announcement for NZO...
they got a pretty savvy deal with OXX, paying upfront with back in rights...
after some pretty average investment decisions for NZO, and PPP over the years, finally something creditable has been exposed to add real value outcome possibilities...
I look forward to a closer tie with NZO... but OXX is still the preferrable invesment...
stacked

.^sc

[the machine]

the big thing is the rig is a semi submersible - so should be available to drill other holes that nzo have an interest in

m

[Corporate]

It's a pity that NZOG couldn't pick up this block when it was being offered by the crown!

[stanace]

Are we going to get any money back from PPP?

[the machine]

Are we going to get any money back from PPP?

only if ppp have drilling success - their 2 vietnam drills for 2013 would do the trick if successful, as would the east timorise drill.
nzo took a punt on ppp because of high expectations for tui area, but the drills were unsuccessful.
more tui drilling [in 2nd half 2013?] might help things along

have to feel for the punters who paid lots for ppp on the hopes of tui success - au50-60 plus

M

[stanace]

But what happened to the 6c per share that was paid back? Are NZO not going to distribute that?

[digger]

But what happened to the 6c per share that was paid back? Are NZO not going to distribute that?

Well it would be a major fault on NZO,s Management if they did. We have just the other month had our annual dividend and it certainly covered pay back for this year as far as i am concerned. Now is the time to spend up on drilling and try to grow the company. Had some private talks with AK and some of the directors at the AGM and they are of the same belief that the next monies have to be spent replacing our reserves before Tui and Kupe are exhausted. So now is the time to invest in drilling regardless of where the income to NZO comes from.

[fabs]

Well it would be a major fault on NZO,s Management if they did. We have just the other month had our annual dividend and it certainly covered pay back for this year as far as i am concerned. Now is the time to spend up on drilling and try to grow the company. Had some private talks with AK and some of the directors at the AGM and they are of the same belief that the next monies have to be spent replacing our reserves before Tui and Kupe are exhausted. So now is the time to invest in drilling regardless of where the income to NZO comes from.

There better be a Gusher in the next few drills in the coming 2 years Digger, as the Market certainly has not woken up to NZOs dynamic Managements announcements.
Judging by the current S/P, still as sluggish as ever.