NZ Oil & Gas (NZO)

[fish]

Which broker advised their client to sell 14,000 NZO at 68.5 at 5pm today? Gotta have a bit of egg on the face there. Or if an internet order someone maybe not reading the announcement properly.

Interesting to see this counter offer at .77. Also a lot more certainty. With the Zeta offer you were not assured of getting all your shares sold. Will be interesting to see what happens to the SP on Monday. Will Zeta now give up for control or do they think they can squeeze more than .77 out of NZO?

After adjusting for the divvie only 1 cent more.
My feeling is that it wont be the last offer.
having bought a lot over the past 2 weeks I am feeling very lucky as I thought Zeta might not have been a good home for any shares they didnt buy.certainly its taken away that stressful thought.

[freddagg]

After adjusting for the divvie only 1 cent more.
My feeling is that it wont be the last offer.
having bought a lot over the past 2 weeks I am feeling very lucky as I thought Zeta might not have been a good home for any shares they didnt buy.certainly its taken away that stressful thought.

The way I read the Zeta offer they do not intend to let sellers keep the dividend either

[fish]

The way I read the Zeta offer they do not intend to let sellers keep the dividend either

I am not so sure about that.
Independent directors have rejected the Zeta offer and seem to welcome this.
With this jobs and oil/gas exploration continue-they like the prospects of offshore canterbury/galleon
If the valuation is more they have lots of self-funded finance.

[Joshuatree]

After adjusting for the divvie only 1 cent more.
My feeling is that it wont be the last offer.
having bought a lot over the past 2 weeks I am feeling very lucky as I thought Zeta might not have been a good home for any shares they didnt buy.certainly its taken away that stressful thought.

Spot on fish. A 77c partial offer has arrived Letter to shareholders
, On Friday 8 September 2017 Zeta Energy Pte Limited mailed its partial off er document to you,off ering to acquire shares from you at 72 cents per share.Also on Friday 8 September 2017, New Zealand Oil & Gas received a letter from O.G. Oil & GasLimited stating that it plans to make a partial offer, at 77 cents per share.

[blackcap]

Looks like the end of NZO is nigh. The 77 cent offer is probably the best out there. Does anyone see Zeta going over that or will they work together with O.G Oil and Gas Ltd, or will they sell into the offer?
77 is probably the best we retail holders can get, albeit the valuation report did have a higher mid range...

[peat]

As evidenced by their measly bid Zeta are out and out bargain hunters. I cant see them being interested in anything other than a steal.

[Beagle]

I won't shed a tear to see this company being delisted. Has been a truly shocking long term investment for anyone unlucky enough to buy into this thing when it first listed about 35 years ago and was trading at $1.40. Fortunately for this hound I learned a long ago to go digging with my own paws for bones rather than let these guys be paid extremely handsomely to do it for me.

[peat]

let these guys be paid extremely handsomely to do it for me.

dont disagree Rog, and lets not forget one of them is even bidding on the other side squeezing the shareholders interests he is meant to be there to protect. (there is something quite disgraceful about this , even if its not illegal)
But that said for those who bought in the low 60's earlier this year selling at 75 isnt too bad.

[fish]

Looks like the end of NZO is nigh. The 77 cent offer is probably the best out there. Does anyone see Zeta going over that or will they work together with O.G Oil and Gas Ltd, or will they sell into the offer?
77 is probably the best we retail holders can get, albeit the valuation report did have a higher mid range...

I agree it looks like the best we will get.
My plan is to wait as long as possible before making the final decision.
My inclination today is to sell into the offer.
Would be really interested to see how others feel and always would welcome diggers wise thoughts.

[digger]

I agree it looks like the best we will get.
My plan is to wait as long as possible before making the final decision.
My inclination today is to sell into the offer.
Would be really interested to see how others feel and always would welcome diggers wise thoughts.

Several people have asked me,but I still do not know what the price is.Is it 77 cents + or - the Dividend. Lets just wait ,do not write of ZETA just yet. The directors are well paid to research the offers ,so I will wait until I hear their wise words and probably do the opposite.

For me NZO has been a disappointment but not a loss. Have received more in dividends than I have put in,but would surely have been better off listening to BALANCE and sold when he first rubbished the company. With this company we have had too many wild moves in different direction depending on the CEO at the time. DS was the big loser for this company and I am glad to say he did not like me and I did not like him and time has shown me to be right in the thoughts of that CEO but wrong in staying with the company.
Wait