NZ Oil & Gas (NZO)

[blackcap]

I might have it wrong but my impression is that the OG offer is going to be conditional on getting 50%-ie if they dont get 50% no shares are bought.

Ah yes, sorry you are right. It is conditional. That does change things slightly. But even if the offer does not succeed... its interesting to see 2 potential suitors... so its not over either way.

[blackcap]

I think this will probably be end of the road for NZOG!! Increased offer to $.78 per share but the independent directors are recommending we accept the takeover....

https://www.nzx.com/companies/NZO/announcements/308363

[fabs]

I think this will probably be end of the road for NZOG!! Increased offer to $.78 per share but the independent directors are recommending we accept the takeover....

https://www.nzx.com/companies/NZO/announcements/308363

Well Zeta won't bother to increase theirs as they probably have already come to a profitable arrangement to sell their lot TO THEM once this recent offer has been successfully concluded. { how does say a $1.00 plus sound }

{ Independent directors are recommending we accept the takeover.... }

Yeah no big surprise there really, to rake in the big money year after year, ending with STERLING EFFORT working for the Interests of NZOG S/Holders.
Decl. Interest: have done reasonably ok over the years with NZO, but not really since this FREELOADING talent of recent years entered the mix.

[blackcap]

Well Zeta won't bother to increase theirs as they probably have already come to a profitable arrangement to sell their lot TO THEM once this recent offer has been successfully concluded..

That makes sense, Zeta wanted to downsize NZO anyway and return a bunch of cash. Caught between a rock and a hard place here. Still going to offer half my shares and try and get .78 for them and then let the rest run with this outfit.
However thinking about it, they may struggle to get 50% by virtue of the register being so old and many shareholder probably not being aware of the offer and not accepting it? I put a question mark there because I am not sure about this but at the last AGM they did say there were something like 17,000 shareholders and that to me signals a lot will "miss" this offer.

[digger]

That makes sense, Zeta wanted to downsize NZO anyway and return a bunch of cash. Caught between a rock and a hard place here. Still going to offer half my shares and try and get .78 for them and then let the rest run with this outfit.
However thinking about it, they may struggle to get 50% by virtue of the register being so old and many shareholder probably not being aware of the offer and not accepting it? I put a question mark there because I am not sure about this but at the last AGM they did say there were something like 17,000 shareholders and that to me signals a lot will "miss" this offer.

I have a word that sums this all up.
WAIT

[Chippie]

{ Independent directors are recommending we accept the takeover.... }

Yeah no big surprise there really, to rake in the big money year after year, ending with STERLING EFFORT working for the Interests of NZOG S/Holders.
Decl. Interest: have done reasonably ok over the years with NZO, but not really since this FREELOADING talent of recent years entered the mix.[/QUOTE]

yes this group of management are useless. It just confirms they do not know how to run this company. Time to get out I think.

[Sideshow Bob]

From todays ODT:

https://www.odt.co.nz/business/depos...nz-oil-gas-bid

[Joshuatree]

Thanks SSB. Will more offers come , esp From Woodside?

[Sideshow Bob]

Thanks SSB. Will more offers come , esp From Woodside?

Have a feeling its not quite over yet (in terms of takeover - don't care about the company). At least I hope not and don't care where any offers come from!

[digger]

Have a feeling its not quite over yet (in terms of takeover - don't care about the company). At least I hope not and don't care where any offers come from!

It will soon be time for me to organize a group of hard core holders that will hold out for the dollar plus that the share is worth. In the last few weeks ZETA has soaked up the uninformed and soft sellers. Roger Finlay our chairman has said he will sell his holding of .5% to OG,but then we do not know what else RF gets for pushing this. Why tell shareholders to back an offer of 78 cents when an independent valuation put it at 93 cents. Me thinks something else is going on.
Who is for forming a group will to wait for proper valuation to come through
Fish I remember you saying you took on a company and won by forcing a valuation that the company had to pay for. Remember once 90% is reached the takeover code kicks in and the shares can be taken from you but not until a honest independent valuation is placed on the shares.Then the takeover company has to pay that valuation for the remaining shares to get to 100%. That valuation will be a lot higher than 78 cents. Ask OG they are not stupid and would not be offering that sum unless they knew it was a steal.
Thoughts, Who is for the dollar plus?