NZ Oil & Gas (NZO)

[digger]

https://www.nzx.com/files/attachments/222332.pdf

I assume this is meant to boost the share price... Thoughts?

I read it that when the share buy back gets started the board will include these specific targeted ESOP shares. In fact I suspect they will come first on the buy back list up to 2 million in the next year.
We could have worked that out for ourselves but NZOG must for nzx rules tell us anyways.
To me it is just a straight forward legal requirment.
Chers

[ziggy415]

I read it that when the share buy back gets started the board will include these specific targeted ESOP shares. In fact I suspect they will come first on the buy back list up to 2 million in the next year.
We could have worked that out for ourselves but NZOG must for nzx rules tell us anyways.
To me it is just a straight forward legal requirment.
Chers

are you sure its not so the directors can get some value out of the share options that are out out of the money but are partly paid.....im slowly losing faith.....maybe Kisaran will pique my appetite again

[notie]

.....im slowly losing faith.....maybe Kisaran will pique my appetite again

nzog as non-operated partner will never make any money out of Kisaran, not with the Indonesian PSC terms and rampant corruption in that country

[Crackity]

nzog as non-operated partner will never make any money out of Kisaran, not with the Indonesian PSC terms and rampant corruption in that country

Hey Notie - as you have been correct with almost everything you have posted about NZOG in the past I'm sure you are right.....I see the MD is leaving the Board to stay as Chief Executive only - any thoughts on this

[ziggy415]

nzog as non-operated partner will never make any money out of Kisaran, not with the Indonesian PSC terms and rampant corruption in that country

must admit...the terms of the psc with the indo govt do seem a bit harsh...they pay back all drill costs etc but then own 80% of the well so your probably right about not a lot left over

[arjay]

are you sure its not so the directors can get some value out of the share options that are out out of the money but are partly paid.....im slowly losing faith.....maybe Kisaran will pique my appetite again

I must be reading the announcement all wrong (or have caught Balance's 3/4 glass empty disease), but my take is that in the past, employees 1c part-paid $1 shares would lapse if the sp failed to reach $1 by Exercise time. Now it appears that if the current sp is 40c then the Co. could buy back those 1c shares from employees for 39c? Wonderful news for Directors and employees if it were true.

[fish]

must admit...the terms of the psc with the indo govt do seem a bit harsh...they pay back all drill costs etc but then own 80% of the well so your probably right about not a lot left over

at least they recover costs and then 20% -might amount to a lot over time-who knows what the future will bring.

[digger]

I must be reading the announcement all wrong (or have caught Balance's 3/4 glass empty disease), but my take is that in the past, employees 1c part-paid $1 shares would lapse if the sp failed to reach $1 by Exercise time. Now it appears that if the current sp is 40c then the Co. could buy back those 1c shares from employees for 39c? Wonderful news for Directors and employees if it were true.

Hi Arjay,

I do not see it the way you do. Line two says the targeted shares are ordinary shares.
i still believe that the 1 cent that AK paid for 3 million partly paid for his 1 dollar shares still stands. If it could be twisted the way you read it then surely AK would have upped the targeted volume to more than two million to include himself. Note the volume is only two million.

[Coles Killer]

a 2 or 3 cent divi to "investor" shareholders instead of a buyback to "in and out" traders would send a better message to those looking at this stock.
nzo is still an income earner with at least one quality income stream...... why buy back shares (from non loyal traders) to prop the sp....
but we know what the vote was so its a waiting games to how many share certificates will be bought and burnt...... whoops that was the old days of paper certs.

I thought the logic behind this was reasonable - while they are not creating imputation credits, they're returning capital in other ways. Tax efficient yes?

[fish]

I thought the logic behind this was reasonable - while they are not creating imputation credits, they're returning capital in other ways. Tax efficient yes?

Yes tax efficient.
Not good as it enables Zeta to proportionally increase their shares.
Another capital return would be fairer and still tax efficient