NZ Oil & Gas (NZO)

[mistaTea]

\appears to be upward pressure on the sp at the moment.

Probably just fish buying up large.

[fish]

I think some have already seen the hand written version of the report, appears to be upward pressure on the sp at the moment.

That's surprising for NZO isn't it ??

I doubt it .The report is not likely to have been written yet .They will have had to value Ironbark and Canterbury Basin and need outside experts in this field.It is no easy task to value NZO but clearly there will be a big range in the valuation-must be over 78 cents minimum but the top end is where I have the difficulty

[blackcap]

Well wouldn't you know it. The price range is 0.62 to 0.84. This kind of self serving BS is just endemic of what happens in the NZ equity markets.

[fish]

Well wouldn't you know it. The price range is 0.62 to 0.84. This kind of self serving BS is just endemic of what happens in the NZ equity markets.

Not a surprise.
Misrepresentation of the truth-e.g. SRK have valued the chance of commercial success at Ironbark at 5%.
This may be true(but not 5% chance)-I cannot find the methodology of the valuation.
I do know that BP only invest if 50% chance of success.
This report is so flawed OGOG will not be getting my vote.
You have to vote against the vote in order to get a chance later at disputing the valuation.
In effect you would have to be stupid to vote in favour of the OGOG scheme.
I will also not go to wellington to vote and hear a biased presentation

[digger]

He who pays the piper calls the tune.

[RTM]

From the report....

"While an investment in an oil and gas exploration business such as NZO is inherently risky, shareholders may wish to consider their risk appetite for the Ironbark Prospect and NZO’s current and possible future exploration activities in evaluating the merits of the Scheme. "

I wouldn't think that very many invested in NZO without realising that it was "inherently risky". And so they already have a reasonable risk appetite.

[blackcap]

Its a BS report and we all know it. They know it, everyone knows it. Its just up to enough of us Shareholders to vote NO at the meeting.

[fish]

Its a BS report and we all know it. They know it, everyone knows it. Its just up to enough of us Shareholders to vote NO at the meeting.

I think mista tea is working out the numbers-I have close to a 7 figure number and know many others with lots of shares voting against
As you say we just have to vote-I am not sure if a shareholder who doesnt vote can be counted as voting in favour

[blackcap]

I think mista tea is working out the numbers-I have close to a 7 figure number and know many others with lots of shares voting against
As you say we just have to vote-I am not sure if a shareholder who doesnt vote can be counted as voting in favour

Yeah I am rallying all I know with shares to get out there and vote. Not that I know many. It would be a farce if a non-voting shareholder is counted as in favour. There will be plenty of non-voting shareholders unfortunately.

[mistaTea]

I think mista tea is working out the numbers-I have close to a 7 figure number and know many others with lots of shares voting against
As you say we just have to vote-I am not sure if a shareholder who doesnt vote can be counted as voting in favour

Hey fish.

I will take some time to digest the report this evening and share my thoughts for those who are interested.

I can tell you that If a shareholder does not vote then their vote is not taken into consideration. Not voting does not count as a YES.

So for us, we want as many people to vote NO as possible. Second best is for those on the fence (and possibly apathetic) to not vote at all.

We just need 25.01% of minority shareholders who do vote to vote NO to block the scheme of arrangement. So the more people who might have voted YES but don’t bother voting, the less NO VOTE shares we require to reach the 25.01% blocking vote.