NZ Oil & Gas (NZO)

[Sideshow Bob]

Results out.

https://www.nzx.com/companies/NZO/announcements/269157

Loss of $6.2m with a write down of $36.3m on Tui. No divvy.

$83.7m in cash, about 20cps.

[trader_jackson]

What does everyone think?

In my view, can someone ask them this afternoon to look at acquisitions more closely and stop focusing on pushing through a share buy back? I won't be able to attend unfortunately

[fish]

In the circumstances of low oil prices I am very happy with income-significantly up!
Kupe still looking good for a reserve upgrade.
Tui may stop production earlier if oil prices remain low.
25 cents per share in Cash reserves and ongoing income could allow another return of capital and share cancellation or buy a distressed oiler with good reserves.
Would be wasted on a share buy back which would enable zeta to increase their holdings.
Important to vote tomorrow-it is easy to do this electronically tonight-wouldn't it be great if nzo and zeta were made aware of the power of the average shareholder.

[fish]

In the circumstances of low oil prices I am very happy with income-significantly up!
Kupe still looking good for a reserve upgrade.
Tui may stop production earlier if oil prices remain low.
25 cents per share in Cash reserves and ongoing income could allow another return of capital and share cancellation or buy a distressed oiler with good reserves.
Would be wasted on a share buy back which would enable zeta to increase their holdings.
Important to vote tomorrow-it is easy to do this electronically tonight-wouldn't it be great if nzo and zeta were made aware of the power of the average shareholder.

[digger]

Ok this meeting was at 10 this morning,so what is the big holdup giving out the results.?????

[fish]

we lost-not even close
The motion was carried about 3 to 1

[digger]

we lost-not even close
The motion was carried about 3 to 1

Great shame. We lost all right if the sums are true,not only here but we could have better used the money to grow by acquisition. Shows a pathetic lack of direction and courage on the part of the company.In two years time this low oil price will be history and this once in a life time opportunity may never surface again. Buy backs may be acceptable in normal times but what we have now is not normal so instead of being acceptable it is a failure direction to take the company in at this time in our history. Great shame and a sad day for the company,opportunity lost.

[jumbo]

there could have been drug testing before letting out the results jumbo

[Sideshow Bob]

Agree Digger. Lack of 'intestinal fortitude'. Also known as not having the balls.

[neopoleII]

well this result says it all regarding the link i posted last week about someone doing a very indepth study on those who control (behind the scenes) nzo.
this co will be swallowed up for a song and the private shareholder will be shafted.
im just happy that i followed my nose and stopped investing many years ago.
just wish i followed my gut and sold out many years ago.... instead i stayed believing that the co has its shareholders in its best interest.
what i have learnt know is....... there are shareholders..... and there are "other" shareholders.
at least i havent lost the shirt of my back...... just my undies.