NZ Oil & Gas (NZO)

[digger]

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

So somewhere between 91 to 100 cents is the Net asset backing. So what is the strictly cash situation---the question I asked first.?

[fish]

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.

All shareholders need to be privy to this-perhaps you could make a dinner time phone call ?
I am off fishing but if an answer is not received I will be making one next week.

[fish]

Just thought to check sp and see John P has announced the figure.
I make the NAV share after the capital return $1.20.
So have just bought heaps more-still a few left at 62 cents

[RTM]

Yes. Just been through the figures as well. This seems to good to be true. What am I missing ?
I have bought some more as well.
Might finally break even on NZOG ......yeah right.

[blackcap]

Yes. Just been through the figures as well. This seems to good to be true. What am I missing ?
I have bought some more as well.
Might finally break even on NZOG ......yeah right.

There is nothing new here. You could have worked it out from the HY accounts. Remember current assets does not equal cash so it may appear as if there is more than there is. But it is consistent with the HY accounts.

From the HY accounts you have the cash figure. Remember the accounts are consolidated.. so about $22m of this is in Cue.

[t.rexjr]

Nav of ordinary shareholders Pro forma per share currently 0.77. That effectively doesn’t really change their worth upon CR as to increase that figure to 0.91 (14c gain) said shareholder has cancelled ½ their shares at 14c below NAV. So looks fancy but really even Shakin Stevens.
Given pre sale talk, share price was down in the 40's it'll be interesting to see if share price manages to increase from current levels. I can't see what would drive it...

[Kay]

Hi,

Not sure if someone can easily shed some light on my below query...But two glasses into my pinot noir and I feel compelled to ask. Again I am a novice investor who largely gambles on "growth" stocks with little success!. NZO are one of the few companies I have tried to understand.

But in nzo I see a company with money and assets which exceed the value of it's share price (I understand Nav to be a basic tool but I am basic in my understanding). This was the case prior to the kupe sale and why I invested in them on the first place. And I considered it a simple and easy decision to invest. Essentially I feel like I am buying money (possibly foolishly!).

I am a believer in the wisdom of crowds so I assume I am missing something. I purchased a few more at 61.5 yesterday to more than cover the capital return.

I would be grateful for any thoughts as to why nzo are valued at 62c when the nav suggests that they are worth more. And nzo's assets are real money and natural resources. Not a brandname or anything overly speculative.

Is it simply that they are assumed to make a loss for a number of years...oil prices won't recover?

[digger]

Hi

Is it simply that they are assumed to make a loss for a number of years...oil prices won't recover?

This last line is very easy to clear up. Apart from CUE nzog has no oil to sell so can not make a lose on the sale of oil. NZOG should now be called NNZOG {NO NEW ZEALAND OIL OR GAS]

[Kay]

This last line is very easy to clear up. Apart from CUE nzog has no oil to sell so can not make a lose on the sale of oil. NZOG should now be called NNZOG {NO NEW ZEALAND OIL OR GAS]

Haha appreciated...youre not a fan then...are you telling me they are simply a pot of money which would be better served sat in the comfort of a high street bank?...

[fish]

Haha appreciated...youre not a fan then...are you telling me they are simply a pot of money which would be better served sat in the comfort of a high street bank?...

Bad guess Kay.
I havnt spoken to digger for sometime-time flies-.
but its always informative to do so-I suspect he is holding onto more shares than everyone here combined and similarly Knows more than everyone here.
Money in the Bank if you have no intention of using it is better returned to shareholders
NZO potentially has a huge gas field-currently holding 50%.
They need to find another partner capable of drilling a deep well.In my opinion they have a good chance of finding a game changing world scale field-no one knows until it is drilled which will probably happen before this decade is over.
They might decide to sell their interest and wind up the company although i suspect they are honest and atm are looking for that big partner.
Plans can change and investing in nzo is much higher risk than the bank,
That risk will decrease after the capital return and remaning shares may be worth more
However there is no way that you will get much chance of a return with a bank-no more than capital invested plus interest minus inflation and minus tax