NZ Oil & Gas (NZO)

[Pete]

Indonesia still approx 3 wks away from drilling completion...so can't imagine any oil finding announcement. We know what Cosmos has. Only possibility of a negative announcement (in my view)...would be a withdraw from Tunisia due to political unrest.

From the last update "The well has been drilled to 1809 feet (551m)" but "During most of the last week the drill was not operating while waiting on a replacement gearbox for a mud pump".

and


"The first of several drilling targets is a Pliocene Fan at approximately 5772 feet (1744M)" .... so if they had a good week drilling they could be close to the first target depth....fingers crossed.

[Queenstfarmer]

3 million invested thus far in Tunisia, Balance. And yes not including meetings over water pipes. A further 19million required for commitment. This could be the stumbling block, if any. Hope not!

[dsurf]

Could be cunning ploy to divert attention from late? six monthly results, ie, material announcement means they get an extension? This is pure conjecture on my part. Does anyone know when the 6 months results were / are due?

[fabs]

If this turns out to be about the Cosmos junket, the pet project of Dr. Spin aka D. Salisbury, then you can add another few millions of wasted monies to that long list of nonsense this co. has indulged in the last few years.
What a useless 5 years his term turned out to be for nzo although not for him.
Often pointed out on this forum.
Slow learners the lot of them, they sure now how to pick-em!

[Queenstfarmer]

Might be a very long weekend for noggers....or maybe we'll all know by lunchtime. Just a stab...but maybe it could be something as simple as the contract in selling gas to Vector. Wait we must!

[neopoleII]

interesting to see a $1.08 on the buy side....
some one know something?
or just fun and games?

[Xerof]

Pre-open and pre-close auction system. Read up on NZX education pages

[Queenstfarmer]

Those higher bids came in early afternoon in the hours after the halt.

[dsurf]

I think people just like to get ahead in the queue on the chance there is good news, if the news is bad they have time to bail before trading begins. I would read very little into the bids and asks at the moment.

re: if the news is bad they have time to bail before trading begins

How long after the news is announced does the trading halt get lifted?

[RTM]

Can this go on indefinitely ? Are there rules ? Frustrating !