NZ Oil & Gas (NZO)

[Balance]

Because if the stock is undervalued, it will be just as undervalued after the capital return (or the selling of half your stock as you put it).

Blackcap could you please respond about this line you wrote.As I see it it will be twice as undervalued per share as it was before the 50% cancellation.And it is this point that I think the market is letting it slip under the radar. If as some do think the current value should be 90 cents it is 30 cents undervalued. After the cancellation this 30 cent per share now must become 60 cents to cover the non cash element of the company.
So after the 50% cancellation the remaining shares the share value will go from current 90 to 1-22.Naturally if you say the current undervaluation is only 10 cents then the after valuation will be 82 cents. Again it is this very point that is important as immediately after the 50% cancellation the company will be ripe for a very cheap TO at say 62 cents which will cost our major shareholder very little as most of the money will have just come in from NZO own account.

TO has been used as a rallying point on NZO since time memorial - and with no consequential benefit, save to entrench the bunch of no hopers and misfits directors and management through decades of squander and wealth destruction.

So pays to leave that aside and review what happens after the CR.

NZO post CR is effectively a shell with costs - Zeta has recouped most of the capital/funds/losses buying into NZO and they have not covered themselves with glory (more like gory).

Seems to me that Zeta will continue to milk fees from NZO until time infinite and there will be nothing the disparate bunch of remnants shareholders can do about it. The institutions saw the light and left the building a long time ago.

[digger]

John Pagani

After the 100 million capital return and the sale of TUI [settlement] and any other cash settlements,what will be the expected cash available to NZOG accounts? Only interested in the cash do not give values for other assets.

[Bixbite]

A capital return by giving you 62.7 cents tax-free for every 2 shares you own is tax-efficient-ie no tax compared to a dividend.

No tax?????

It‘s a little bit right and a little bit not right.

If you are NZ trader (profit and loss tax), or OZ shareholder (………)

However, I agreed “cancelling one out of every two ordinary shares”.

[tim23]

Anyone notice the Cushings filed SSH notice a few weeks back - maybe they can see a short term value play. Effectively a cash box now with Cue holding for nothing plus other permits, I'm probably going to invest my buyback $ back in the company.

[peat]

digger it will be about $160-170m

[digger]

digger it will be about $160-170m

Somewhere about that ,but I am a little unsure what the final figure was with the TUI settlement.We had money set aside which after the settlement can go back into the cash pile. That is why I want the exact figure.

[digger]

digger it will be about $160-170m

If that turns out to be correct that means that after we all lose one half of our shares the remaining shares will be backed by a dollar a share on cash only. This is the point I am trying to make where as some of you posters think it is only 62.5 cents.
The company after this 100 million return and 1/2 shares removed will be very ripe for TO.

[Balance]

If that turns out to be correct that means that after we all lose one half of our shares the remaining shares will be backed by a dollar a share on cash only. This is the point I am trying to make where as some of you posters think it is only 62.5 cents.
The company after this 100 million return and 1/2 shares removed will be very ripe for TO.

TO of a cash vehicle?

Zeta has already done that - control the company with less than 50% shareholding.

And with independent reports these days, no fly zones, etc - ain't no mileage to be made trying to takeover cash via a discounted cash offer. The independent directors can hardly recommend an offer of less cash for cash!

[JohnPagani]

Here's the financial info you are looking for, which has just been sworn in court and released to NZX.

https://www.nzx.com/companies/NZO/announcements/298115

[digger]

TO of a cash vehicle?

Zeta has already done that - control the company with less than 50% shareholding.

And with independent reports these days, no fly zones, etc - ain't no mileage to be made trying to takeover cash via a discounted cash offer. The independent directors can hardly recommend an offer of less cash for cash!

What planet are you on. Independent directors have recommended lots of more strange things than what I suggested.