NZ Oil & Gas (NZO)

[sideline]

What a lot of witchcraft talk. The 29 men died because the mine blew up due to two thing---a built up of methane and a spark to set off the explosion.
The methane built up turns out to be natural for this type of mine. What is not natural is the way every attempt to mointer this builtup was frustrated by the miner and contractors. The spark could well have come from any one of the miner sneaking off to some private spot to have a smoke. We may never know but we do know that most smoked and evidence of smoking was often found. We also know that prior to the main explosion there were several smaller one in the days and weeks beforehand. These should have set off alarm bells but it is a sad fact that when you get mostly young men together they do not move in the direction of safety but to toughtness.
Only rubbish talk and witchcraft thinking somehow twists this back to death on NZO conscience or its shareholders. An attempt to turn the clock back to the middle ages where some posters mentality clearly belongs.

Digger,
Not much point engaging un-balanced on this. The irrational, obsessive and vindictive talk clearly indicates that s/he is not open to rational arguments or facts. A case for the mental health professionals, I suspect.
Anyone like un-balanced stating that workers didn't know that Pike was dangerous must be living in cloud-cuckoo-land. All underground coal mines are dangerous and have methane issues and that danger must be respected and mitigated. EVERY coal miner knows this, and that it requires a bit more than wearing a hard hat and a high-viz vest.

[Balance]

Digger,
Not much point engaging un-balanced on this. The irrational, obsessive and vindictive talk clearly indicates that s/he is not open to rational arguments or facts. A case for the mental health professionals, I suspect.
Anyone like un-balanced stating that workers didn't know that Pike was dangerous must be living in cloud-cuckoo-land. All underground coal mines are dangerous and have methane issues and that danger must be respected and mitigated. EVERY coal miner knows this, and that it requires a bit more than wearing a hard hat and a high-viz vest.

Proud to be un-balanced if you call my warnings about Pike River Coal well before the explosion and the deaths un-balanced.

[spirit]

Did anyone get to any of the meetings last week? Were any of NZOG's geo's in attendance and if so did they have anything meaningful to say?

[Balance]

NZOG's definition of success and continued success :

Market capitalization now = $341m

New capital raised since 2005 = $328m

(2008 -$193m, 2007 - $62m, 2006 - $30m and 2005 - $43m - sources : ARs)

"It's a pleasure to join you to review the year and look ahead to a future in which your
company is well placed for continued success."

Now we know the veracity of NZOG's moral conviction by their definition of continued success.

Be afraid, be very very very afraid!

[winner69]

NZOG's definition of success and continued success :

Market capitalization now = $341m

New capital raised since 2005 = $328m

(2008 -$193m, 2007 - $62m, 2006 - $30m and 2005 - $43m - sources : ARs)

"It's a pleasure to join you to review the year and look ahead to a future in which your
company is well placed for continued success."

Now we know the veracity of AK's moral conviction by his definition of continued success.

Be afraid, be very very very afraid!

Interesting numbers balance

They do still have $150m of it sitting in the bank ... that some effort

[arjay]

They say that ignorance of the law is no defense. If it turns out that NZO shareholders really are ignorant of natural justice and that NZO is in fact liable then I reckon a greater injustice will have been done in that (as we all know) Balance was the only non-ignorant person and knew that the disaster was going to happen before it did, yet will get off scott-free having done nothing to avert the tragedy before it happened.

[Sideshow Bob]

Did anyone get to any of the meetings last week? Were any of NZOG's geo's in attendance and if so did they have anything meaningful to say?

At the meeting I was at, just the Chairman and CEO. Tunisia actually sounded reasonably interesting, but would have been betting the company on it. Trying to sell the permit. Results from Indonesia are still being assessed, but reading between the lines I would say they are reasonably confident on this, and in a known area.

Bit of talk about the permit about 45km off the coast of Oamaru. Anadarko have the next permit east, off the edge of the shelf in about 1500m, but NZO's is in about 120km. Bit of hysteria about oil drilling and spilling, but was interesting to hear about the low levels of pressure typically in NZ wells, where oil needs to be physically pumped out of the well - compared to the Gulf of Mexico.

Not really looking onshore in Taranaki.

Think that covered most of it.

[Balance]

They say that ignorance of the law is no defense. If it turns out that NZO shareholders really are ignorant of natural justice and that NZO is in fact liable then I reckon a greater injustice will have been done in that (as we all know) Balance was the only non-ignorant person and knew that the disaster was going to happen before it did, yet will get off scott-free having done nothing to avert the tragedy before it happened.

Ah, what's the greater crime?

Natural justice says Noggers like you throwing abuse, orchestrating odium and attempting to shut down anyone who dared to challenge, question and warn about the gross incompetence at Pike River which ultimately led to the death of those 29 miners.

http://www.sharetrader.co.nz/showthr...ght=pike+river

Shareholders were treated like mushrooms and most were happy to be treated as such - as long as others do not tell them to wake up.

Yup, those who supported the management of Pike River and abused posters questioning them - you have blood on your hands.

BRING IT ON!

[Balance]

Typical of the abuse hurled at posters :

http://www.sharetrader.co.nz/showthr...ght=pike+river

Post 2690 : "Without being smug I am pleased I am not currently a holder... I well remember a conversation I had with a cpl of retired mine managers at the Blackball Workingmens Club a year or so back.. they advised caution, spoke of fractured rock, problems with the fault line...etc etc.. I posted about that,... on this thread or the NZO thread can not recall which.... from memory it did'nt result in universal acclaim from other posters..."

Post 2691 : "Beware of conversations. If it is a fact please post it."

Anyone daring to warn about the risks at Pike River and the mismanagement attracted abuse :

tp://www.sharetrader.co.nz/showthread.php?4603-PRC-Pike-River-Coal/page181&highlight=pike+river



Instead :

"This is going to be a massive earner . Well done NZO/PRC.

In the meantime buy on any weakness which will be fuelled by the doubters or those that deliberately manipulate the price downwards for their own gain."

http://www.sharetrader.co.nz/showthr...ght=pike+river

[sideline]

I suppose you meant 120m depth near Oamaru.

Thanks for the info, Bob.