NZ Oil & Gas (NZO)

[digger]

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.

Agree mistaTea about our cash going overseas but that is a direct outcome of Labour having to snuggle up to the greens. Banning extra exploration permits in effect also bans deep water drilling even if they have the so called right to go ahead as overseas companies are just put off and they have the equipments to do the drilling,so any ocean drilling in NZ is effectively banned.
Great to see where NZO plans to invest the money. Ironbanks at 15 trillion cf of gas [estimate] certainly makes the good old days of nzo drilling come back to life. In the partial t/o of nzo I did not sell any and in fact have bought some extra. To me it was just a matter of time b4 NZO had to play its hand on what and where to invest the 100 million. In fact I am not supprised where it is going . I have a fair holding in CUE so have been watching developments there and it already did cross my mind that todays announcement could be a expected outcome
Great work Nzo and for what it is worth it has my backing.[But then according to my family I am a drill baby drill nut]

[mistaTea]

Agree mistaTea about our cash going overseas but that is a direct outcome of Labour having to snuggle up to the greens. Banning extra exploration permits in effect also bans deep water drilling even if they have the so called right to go ahead as overseas companies are just put off and they have the equipments to do the drilling,so any ocean drilling in NZ is effectively banned.
Great to see where NZO plans to invest the money. Ironbanks at 15 trillion cf of gas [estimate] certainly makes the good old days of nzo drilling come back to life. In the partial t/o of nzo I did not sell any and in fact have bought some extra. To me it was just a matter of time b4 NZO had to play its hand on what and where to invest the 100 million. In fact I am not supprised where it is going . I have a fair holding in CUE so have been watching developments there and it already did cross my mind that todays announcement could be a expected outcome
Great work Nzo and for what it is worth it has my backing.[But then according to my family I am a drill baby drill nut]

Great to hear from you after a while digger! I was wondering where you were.

Like you, I did not sell into the OGOG offer and purchased additional shares along the way.

The two conditions for Cue should be easily met.

And with regards to Labour - the less I say the better I think. Highly unimpressed!

[digger]

Great to hear from you after a while digger! I was wondering where you were.

Like you, I did not sell into the OGOG offer and purchased additional shares along the way.

The two conditions for Cue should be easily met.

And with regards to Labour - the less I say the better I think. Highly unimpressed!

Hi Mista Tea. Was just waiting for plans to surface regarding NZO money plans.Gone nowhere.
When I said I was not surprised that nzo ended up in Ironbanks it was not how I thought it would develop . I thought NZO would take over CUE and run the show from that vantage point. So I bought some more CUE. Guess it really dosen't matter as long as it is money in my account at the end of the day. In the mean time do not send charity donations as I can look after myself.
Drilling would be about mid 2020 IMHO

[mistaTea]

Hi Mista Tea. Was just waiting for plans to surface regarding NZO money plans.Gone nowhere.
When I said I was not surprised that nzo ended up in Ironbanks it was not how I thought it would develop . I thought NZO would take over CUE and run the show from that vantage point. So I bought some more CUE. Guess it really dosen't matter as long as it is money in my account at the end of the day. In the mean time do not send charity donations as I can look after myself.
Drilling would be about mid 2020 IMHO

I have been a NZO shareholder for only 5 years now - have now made it into the Top 20 shareholders and have enjoyed the process. In an earlier post I mentioned that (IMHO) the way to view your NZO shares is that of a private company now. In other words, largely ignore the hourly vacillation of the share market and just learn about the business you own. We are effectively just (very) junior partners to OGOG, and so far it has been a hell of a ride.

With Barque...though the April decision has made a difficult ‘frontier’ opportunity even more difficult to sell...I am not at the point of dispair yet. Barque was a big reason for Mr Ofer taking the majority stake in NZO...and I doubt OGOG will give up 5Tcf of gas (potential) without a fight. They may even take a % themselves to encourage a BP-type partner to join and drill baby drill.
This is of course pure speculation on my part. At the end of the day, I have absolutely no idea what I am talking about and Mr Pagani is probably reading my post and giggling, if not outright guffawing.

[mistaTea]

https://www.thespinoff.co.nz/politic...ng-it-through/

“That you attempt to rush it through gives the impression you are not proud of what you are doing.”

I love that line

[fabs]

What is stopping the Co.to make an offer for the rest of the shares at around 70 cents?
Also to sell any worthwhile find to a subsidiary for a reasonable price?
Any suggestions?

[mistaTea]

What is stopping the Co.to make an offer for the rest of the shares at around 70 cents?

Do you mean, what is stopping OGOG from acquiring the remaining 30% of NZOG shares?

They stated a while back that they want NZOG to remain a publicly listed company. This provides them more flexibility in the future to reach out to new investors and raise additional capital. A full takeover now would require a delisting which would be a pain in the ass for them.

In the latest annual report the chairman alluded to a potential capital raise at some point in the future if conditions were right etc.

[fabs]

Do you mean, what is stopping OGOG from acquiring the remaining 30% of NZOG shares?

They stated a while back that they want NZOG to remain a publicly listed company. This provides them more flexibility in the future to reach out to new investors and raise additional capital. A full takeover now would require a delisting which would be a pain in the ass for them.

In the latest annual report the chairman alluded to a potential capital raise at some point in the future if conditions were right etc.

CONDITIONS BEING RIGHT??? YEAH RIGHT
THEY WOULD HAVE NO PROBLEMS GETTING ADDITIONAL FUNDS, NO NEED TO BE LISTED FOR THAT.
If the strike is big enough.

[fish]

CONDITIONS BEING RIGHT??? YEAH RIGHT
THEY WOULD HAVE NO PROBLEMS GETTING ADDITIONAL FUNDS, NO NEED TO BE LISTED FOR THAT.
If the strike is big enough.

I would have thought flexibility is a good thing and the need to raise new capital would depend on so many factors.

[mistaTea]

I would have thought flexibility is a good thing and the need to raise new capital would depend on so many factors.

Yeah, correct.

Also if things go well for the company (i.e. some decent discoveries are made) then one would expect the increased company value to be reflected in the share price over time.

This then also gives OGOG options to sell some of their shares on market at a premium to what they paid (thereby getting back some or all of the money they originally invested while still keeping a stake in a productive business).

And no doubt there will be other possibilities that maintaining a public listing allows that my simplistic view of the world has not considered.