NZ Oil & Gas (NZO)

[fabs]

"Prediction is very difficult, especially about the future" (Niels Bohr)
Certainly endorse above statement

There are a few possible important flaws in some of the comments.

1 ZETA does not necessary need a t/o of nzo. for full control of board.
2 Lots of negatives have accumulated over the years re: Management, probably contributing in large part for depressed S/P.
3 Economic climate may not have been as uncertain when other Co's launched a B/B.
4 O/P tracking steady lower, So short medium & quite likely long term outlook bleak. [ SO DOUBLE HIT ]
5 A major war, striking a gusher or miraculous world economic recovery short term needed to change that. Have another TUI!
6 Lots of SH's trying to get out, some maybe because no more Dividends in foreseeable future.
7 Hard to see the B/B having a lasting benefit
How the S/H's will fare if ZETA gains control of the board, Well any-bodys guess really.

[BlackPeter]

"Prediction is very difficult, especially about the future" (Niels Bohr)
Certainly endorse above statement

There are a few possible important flaws in some of the comments.

1 ZETA does not necessary need a t/o of nzo. for full control of board.
2 Lots of negatives have accumulated over the years re: Management, probably contributing in large part for depressed S/P.
3 Economic climate may not have been as uncertain when other Co's launched a B/B.
4 O/P tracking steady lower, So short medium & quite likely long term outlook bleak. [ SO DOUBLE HIT ]
5 A major war, striking a gusher or miraculous world economic recovery short term needed to change that. Have another TUI!
6 Lots of SH's trying to get out, some maybe because no more Dividends in foreseeable future.
7 Hard to see the B/B having a lasting benefit
How the S/H's will fare if ZETA gains control of the board, Well any-bodys guess really.

Just received & processed my voting pack from NZO. The independent report is a joke - and is not even able to highlight any convincing benefit for existing minority share holders in approving this share buy back together with an increase of ZETA's control.

The report nevertheless recommends this share buyback. I guess its easy to see who paid the authors: the board, though using our (share holders) money for this wasteful action.

Anybody proposing a board spill? If yes - this would be a resolution I could support

[dodgy]

"Prediction is very difficult, especially about the future" (Niels Bohr)
Certainly endorse above statement

There are a few possible important flaws in some of the comments.

1 ZETA does not necessary need a t/o of nzo. for full control of board.
2 Lots of negatives have accumulated over the years re: Management, probably contributing in large part for depressed S/P.
3 Economic climate may not have been as uncertain when other Co's launched a B/B.
4 O/P tracking steady lower, So short medium & quite likely long term outlook bleak. [ SO DOUBLE HIT ]
5 A major war, striking a gusher or miraculous world economic recovery short term needed to change that. Have another TUI!
6 Lots of SH's trying to get out, some maybe because no more Dividends in foreseeable future.
7 Hard to see the B/B having a lasting benefit
How the S/H's will fare if ZETA gains control of the board, Well any-bodys guess really.

Hi Fabs
Agree entirely. Why does NZO have their pre-empted owner/shareholder meetings in Wellington? Geographic lack of spine and resistance in the seat of government yes men. If I lived there I would pass a vote of "no confidence" in management and governance. In reply to BlackPeter, the buy/backs you quoted - without any substance from yourself it may take me a while to provide factual endorsement or otherwise. Wish me luck.
Regards
-dodgy Owner/shareholder - despondantly watching the price ratchet downward from the capial repayment. The only upside to the impending result, will be the gains from the unhedged $US reserves, the cause of substantial historic losses!)

[fabs]

YES,
anything to spoil this farce, the question is WHAT???
May-be far to late, should have acted long ago but theme's the breaks.
Open to any suggestions.

[digger]

Just received & processed my voting pack from NZO. The independent report is a joke - and is not even able to highlight any convincing benefit for existing minority share holders in approving this share buy back together with an increase of ZETA's control.

The report nevertheless recommends this share buyback. I guess its easy to see who paid the authors: the board, though using our (share holders) money for this wasteful action.

Anybody proposing a board spill? If yes - this would be a resolution I could support

I have also read most of the dribble and now more than ever will vote against it. When you read it keep it clearly in mine that this special meeting is only about having a share buy back where Zeta does not have to sell shares and thereby allow its percentage holding to rise above the 20% limit. As the document says up to 24.5 % if all the 64 million shares are purchased.
What I like most is 2.9 where they deal with the implications of it not being approved. Note this could lead to a buy back where shareholder approval is not required and ZETA then have to stay below 20%. Also note that all the benefits of a buy back we are supposed to enjoy if ZETA is allowed to get around the takeover code also apply apply if this resolution does not succeed and we still have a buy back. I am for a buy back but definitely not for letting control slip away from all shareholders . This resolution is just an attempt to get around the takeover code.
I have listed in a post above what I think the company should do with its money. NZOG is certainly not the only oil company under pressure with a depressed share price.

[RTM]

Hard to fight this....
"The global oil glut will last through next year as surging demand and faltering supply growth fail to clear the surplus, the International Energy Agency warned in its widely followed monthly report. "While a rebalancing has clearly begun, the process is likely to be prolonged," the agency declared, stating that stockpiles won't be diminished until Q4 of 2016 or later if sanctions on Iranian crude are lifted. After plunging to six-year lows on Tuesday, crude prices are now up 1% to $43.49/bbl."

[dodgy]

Hard to fight this....
"The global oil glut will last through next year as surging demand and faltering supply growth fail to clear the surplus, the International Energy Agency warned in its widely followed monthly report. "While a rebalancing has clearly begun, the process is likely to be prolonged," the agency declared, stating that stockpiles won't be diminished until Q4 of 2016 or later if sanctions on Iranian crude are lifted. After plunging to six-year lows on Tuesday, crude prices are now up 1% to $43.49/bbl."

Good morning RTM and all,
Obviously no one can defeat rising or falling oil prices - when they rise the company spouts self effacing documentation and propoganda, when they fall it blames them for the share performance. Remember however that currencies also rise and fall (ask John Key) and ours has been southbound for some time. Except for very clever negotiating/hedging neither influences can be fully combated. So what should prudent management do? Not capital returns which favour large corporate holders, or buybacks , preserve capital for low cost/efficient aquisitions and REDUCE, REDUCE, REDUCE the corporate overhead, backroom boffins, pr spin doctors, etc. pull their heads in for a while, and keep their powder dry. A lower corporate overhead, through the use of readily and maybe (from the record to date) actually good at number crunching, analyzing , exploring , along with carefully considered imputed or unimputed dividends - we all still pay tax either way - will place this company on a "war" footing to survival - not take over and the feathering of a few employee nests.
Kind regards and good investing
-dodgy OWNER/shareholder (feeling like spring is coming hence the references to things ornithological).

[fish]

low prices =surging demand and the published IEA figures show this clearly.
What they cant predict is how much supply will be available to meet this demand.
Oil supply doesn't always follow the normal rules of supply and demand.
There are many reasons for this.
Its very political and this can change prices over-night.
Falling nz dollar is a big bonus for NZO.

[flyingmariner]

Can anyone tell me if it's possible to vote online? I have done this with other companies but after checking the NZO website and logging into Computershare it doesn't look like a share holder can? Thanks.

[BlackPeter]

Can anyone tell me if it's possible to vote online? I have done this with other companies but after checking the NZO website and logging into Computershare it doesn't look like a share holder can? Thanks.

sure as ... just go to www.investorvote.co.nz and use the controlnumber which is on the voting pack you received per mail.

Just make sure you put the tick into the right place ....