NZ Oil & Gas (NZO)

[skid]

It would take a pretty active imagination to figure a way that 34% more oil than expected in a well you own part of is a bad thing.

[dodgy]

It would take a pretty active imagination to figure a way that 34% more oil than expected in a well you own part of is a bad thing.

Good afternoon skid and all.
This has nothing to do with the current espoused upgrade , it all relates to us holders investments dying by way of 1000 cuts. Having followed and owned for well over 25 years and also followed this stock on sharetrader one can virtually take the markets temperature but correlating the number of entries posted here e.g positive company performance means increased chatter. Obviously most participants agree with Notie as this diminished thread like the company is walking blindly into the setting sun. I have attended meetings and briefings but are no longer able. I ask that any attendee address the meeting with two questions. 1. When will the company start to cut its cloth and hack away at overheads more suited to a junior partner subcontracting work out when needed ? 2. When will a dividend policy be reinstated but based on a percentage of profit basis along with the dropping of the mysterious and completely useless buyback intention ?
If someone can put these forward I would be thankful and the thread will be far better informed.
Have a great evening
Regards
dodgy (owner and somewhat hogtied shareholder)

[skid]

Your absolutely right dodgy.I have been out of this share for a long while now and they have certainly not been hitting many performance bulls eyes.But even a useless company is better off with more oil than they thought in the ground.That was the only point i was making.
One thing for sure--It aint easy finding that stuff,even for well run companies.There have certainly been tons of disappointments for a number of companies,and now with oil cheap its not a pretty picture.

[dodgy]

Your absolutely right dodgy.I have been out of this share for a long while now and they have certainly not been hitting many performance bulls eyes.But even a useless company is better off with more oil than they thought in the ground.That was the only point i was making.
One thing for sure--It aint easy finding that stuff,even for well run companies.There have certainly been tons of disappointments for a number of companies,and now with oil cheap its not a pretty picture.

Hi skid
You are quite right overall and I really liked your play with "well run" -intentional and apt for for an aspiring oil company I guess.
Regards
-dodgy (OWNER and shareholder - yes a little beaten down with this stock).

[arjay]

Noe notie turn it around and I wonder what you would say. Lets state we had a 34% decrease in reserves--would you then still say it is of little importance???

Ironically, although true to form, the announcement of a 34% increase in reserves has been greeted with a shrug from the SP, whereas had it been a 34% decrease we would probably have seen 10c knocked off.

[trader_jackson]

Ironically, although true to form, the announcement of a 34% increase in reserves has been greeted with a shrug from the SP, whereas had it been a 34% decrease we would probably have seen 10c knocked off.

Really it should have put a rocket under the share price, and boosted GNE's share price by significantly more than 0.8%.

I think people could be more interested in the meeting tomorrow, and overall people have 'had enough' of NZO and these 'great' things that seem to happen (or be about to happen) and not actually eventuate in great profits due to some unknown reason (this has been an unfortunate trend at NZO in the past few years - over promise, under deliver)

[Carpenterjoe]

How is this company only worth 145mil, 100mil in the bank. Un expected Q1 cash flow of +16mil. What have I missed? How are these guys cooking the books?

[fish]

How is this company only worth 145mil, 100mil in the bank. Un expected Q1 cash flow of +16mil. What have I missed? How are these guys cooking the books?

With assets of over $1 a share they don't need to cook the books.
Great cash flow,great prospects.
The market hasn't forgotten the past-money squandered in the Mediterranean,pike river explosion etc.
I feel they have learnt from their mistakes and are treading a more appropriate path.
I am biased but happy to be one of the top 20 shareholders .
Good things can arise from past failings.
Andrew Knight is steering the company on the right path.
People have reason to be wary of Zeta but its easy to see why they want to increase their shareholding when the buyback starts

[skid]

I haven't been keeping up with this company of late--what are the great prospects you refer to ?(no sarcasm intended)

As far as assets go PPP had a similar situation and it became one of my great teachers. (The kind of lesson you learn from getting burnt)

[fish]

I haven't been keeping up with this company of late--what are the great prospects you refer to ?(no sarcasm intended)

As far as assets go PPP had a similar situation and it became one of my great teachers. (The kind of lesson you learn from getting burnt)

Sorry you got hurt with PPP.It was always high risk and they stupidly invested nearly all in one drill.
Nzo has $103 million in the bank and net cash flow of 16 million last quarter.
This is at a time of low oil prices.
Production costs of kupe for instance is relatively fixed so an increase in reserves-as just announced but known for sometime equates to a big increase in prospective profits.
Indonesia is starting production.
Clipper is a really exciting prospect.
You really need to read todays quarterly report and the annual report.
NZO has fingers in so many pies-unlike ppp.
This derisks the company compared to ppp