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05-10-2018, 11:48 AM
#15851
Originally Posted by Grimy
I'm also happy enough to not receive a dividend from them - as long as the trade off is there - a rising share price. Otherwise, what's the point?
No doubt about it. We all buy assets today with the view that they should be worth more in the future (otherwise, why would we buy it?).
As it stands, all producing assets and prospects are effectively being given away for free since Market Capitalisation is less than the cash held in the bank. By no means does that mean that NZOG is a sure thing, however it does mean that management would need to make some pretty horrendous missteps with their available resources before shareholders (buying at the current price) face a likely prospect of realising a serious loss.
How patient each individual shareholder is in the meantime is a different matter altogether.
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06-10-2018, 06:56 PM
#15852
Member
Originally Posted by mistaTea
Those of us who remember NZO’s legal tussles with Greymouth over Ngaroto should not be surprised. Greymouth’s logo ain’t got a shark in it for nothing.
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09-10-2018, 10:51 PM
#15853
I think the Coalition Government particularly the Labour part were surprised by the blow-back they revived from their offshore oil exploration ban and its knock on effects on business confidence. I further guess their focus group results are showing rising public anger at fuel costs and blame being placed on the Government.
It runs the danger of people linking the rise in petrol prices with the Government banning oil exploration.
I reckon the Labour part of the Coalition Government will be hopping the permit extension discussed in the link below is agreed to by the bureaucrats in MBIE to give them the opportunity to deny any link between the exploration policy and petrol prices.
The result of the bureaucrats deliberation will give a pointer to NZO's possible application to extend the drill or drop date for Barque.
There is a possibility of a drilling campaign down south if the following come together;
o The OMV extension is agreed.
o The Barque extension is agreed.
o The price of oil keeps rising.
As one old timer on Sharechat observed "oil is out there, somewhere, maybe".
https://www.nzherald.co.nz/business/...ectid=12139675
Boop boop de do
Marilyn
Diamonds are a girls best friend.
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22-10-2018, 01:00 AM
#15854
The extension of the drill of drop deadline for OMV in the Great South Basin discussed in the post above has been agreed to.
https://www.radionz.co.nz/news/busin...ff-otago-coast
Boop boop de do
Marilyn
Last edited by Marilyn Munroe; 22-10-2018 at 01:01 AM.
Reason: punctuation
Diamonds are a girls best friend.
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23-10-2018, 02:19 PM
#15855
https://www.nbr.co.nz/story/governme...il-and-gas-ban
It may well be that the Coalition is not LEGALLY required to make any kind of compensation payments. Regardless, there is one hell of a MORAL issue at play here.
They seem arrogant enough not to care though.
Meanwhile our gas reserves are rapidly depleting (I have read some reports that state 6 years or so left...) and a discovery at Barque would be a lifeline to this government in terms of making their energy transition goals achievable. Why they are not bending over backwards to assist NZOG with assurances (and whatever else is needed) to lock in farm-in partners is baffling to say the least.
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25-10-2018, 11:20 AM
#15856
Originally Posted by mistaTea
https://www.nbr.co.nz/story/governme...il-and-gas-ban
It may well be that the Coalition is not LEGALLY required to make any kind of compensation payments. Regardless, there is one hell of a MORAL issue at play here.
They seem arrogant enough not to care though.
Meanwhile our gas reserves are rapidly depleting (I have read some reports that state 6 years or so left...) and a discovery at Barque would be a lifeline to this government in terms of making their energy transition goals achievable. Why they are not bending over backwards to assist NZOG with assurances (and whatever else is needed) to lock in farm-in partners is baffling to say the least.
I am somewhat baffled as well, maybe it's because the price of oil is stable or something and they can't see it going higher. Beats me, NZ cannot afford to pontificate about the buzz word re-newables, they just don't meet demand. Perhaps when the supply falls and the price of natural gas goes a lot higher then maybe there might be much wringing of hands. "Oh why didn't we listen to the oil and gas explorers." Of course they will blame them for the price going up. Can't believe I would see the day when NZ imports coal from overseas but that's what is happening. There has been talk of importing in the future LNG if supplies run low. Talk about living in La La land.
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26-10-2018, 09:26 AM
#15857
Yesterday was the final day for BP to confirm their farm-in participation for Ironbark with Cue, was it not?
Ironbarks estimated 15 trillion cf of gas is massive when you consider how excited NZOG is about Barque's estimated 5 trillion cf of gas.
Ironbark could be an absolute monster.
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26-10-2018, 01:52 PM
#15858
Originally Posted by mistaTea
Yesterday was the final day for BP to confirm their farm-in participation for Ironbark with Cue, was it not?
Ironbarks estimated 15 trillion cf of gas is massive when you consider how excited NZOG is about Barque's estimated 5 trillion cf of gas.
Ironbark could be an absolute monster.
http://www.cuenrg.com.au/irm/PDF/245...BPEquityOption
Extended to April 25 2019.
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26-10-2018, 01:56 PM
#15859
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26-10-2018, 05:19 PM
#15860
Originally Posted by blockhead
Looks like it.
And check this out: http://nzx-prod-s7fsd7f98s.s3-websit...869/289276.pdf
I was wondering if NZOG or OGOG would pick up the remaining stake in this one. It makes Clipper look tiny.
NZOG will effectively have a 26.5% stake in WA-359-P, making them the second largest participant.
Given the uncertainty around Clipper now since the Government ban on new exploration, maximising exposure to another potentially large prospect is a great way to pivot. Pity the majority of the $98M held in cash is now going to go overseas instead, but hey ho - that's the way the cookie crumbles.
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