NZ Oil & Gas (NZO)

[RTM]

Managed to vote just now after many hurdles and time wasting, no emails or snail mail from computershare etc.Finally got hold of a real person and got given the access code.
NZO certainly isn't acting like its interested in exploring and discovering and producing oil anymore, something suss there imo.Its Risk off ehhh lol.

Is that because you don't have a signin with computer share ?
I didn't need a code....wondering if I did it properly ?

[digger]

Is that because you don't have a signin with computer share ?
I didn't need a code....wondering if I did it properly ?

Yes it will require a watch on how this voting goes. Anyone who can justify granting themselves 8 years free salary when they are no longer employed is prepared for any dirt work. I will ask NZSA to keep an eye on the vote counting. Also we should get everyone here to record there vote to see how it adds up. Might be very different from wha gets reported.
I no longer trust anyone at NZOG or OGOG anymore after this Northington release. And why would anyone.

[Joshuatree]

MY vote against.

[Beagle]

If the chance of success at Ironbank is really so low then it would be in OGOG best interest to drop the SOA and spread the expected loss over all the NZO shareholders. Prior to the Northington release I thought the report would down play the chance of success to say 30% from a realistic likelyhood of 60%,to make the 62 cent offer look good.Guess OGOG thinks we are just idots so any figure will do.

I also pretty well guessed that the independent directors and managment were buttering their own bread by backing this extremely low offer. But 8 years of free salary just shows the contempt that they hold for shareholders. Now why did none of they stand up and say no let give 8 years dividend to the shareholder even after they sell out. Same thing--just butters someone else bread.

Yea I don't follow any more mate, I was merely posting the link as a service to others.
This company has just been a vehicle for directors and management to further their own interests for a very long time. Remember the days of the old United resources and Mineral resources and all the cross shareholdings to protect the company from a takeover ? These were my first investment way back in 1982... I think it was at a $1 at that time. According to the Reserve bank $1 in 1982 in inflation adjusted terms is worth $3.85 today. With very few dividends over the last 37 years this just shows you what a shocking destruction of shareholder wealth various directors have been responsible for over the last few decades.
In some ways this thing just deserves to be pout out of its misery but I hope shareholders can extract a better deal.
Don't underestimate how passive many shareholders are though...many just accept what the so called independent directors say like placid school children listening to their teacher.

[Sideshow Bob]

Is that because you don't have a signin with computer share ?
I didn't need a code....wondering if I did it properly ?

You should have got an email confirmation of your vote.

I just had to enter my postcode and was in.

[Lion]

Beagle, for accuracy, the dividends have been not too bad since I've been a shareholder.
On the Co's website are listed the divs between 2008 and 2017 (inclusive) They total 48c per share.
I can't find any figures for before that period and of course there have been none in the last two years.

Can anyone answer my question about what OGOG can do if this SoA fails?

[RTM]

You should have got an email confirmation of your vote.

I just had to enter my postcode and was in.

Yes...just checked....I did. Recorded as against.
Surely this process, counting included, is automatic...at least for those who vote No on line.

[Beagle]

Beagle, for accuracy, the dividends have been not too bad since I've been a shareholder.
On the Co's website are listed the divs between 2008 and 2017 (inclusive) They total 48c per share.
I can't find any figures for before that period and of course there have been none in the last two years.

Can anyone answer my question about what OGOG can do if this SoA fails?

Probably because there were none before 2008. From memory and I am really stretching my grey matter to recall but I don't think dividends featured much if at all in the 1980's or 1990's with this one.

[etnom]

Really sad to see the so called independent directors being really dependent in ripping off the very same shareholders they are there to protect.


"What is the last day for registering our vote against."

[fish]

Beagle, for accuracy, the dividends have been not too bad since I've been a shareholder.
On the Co's website are listed the divs between 2008 and 2017 (inclusive) They total 48c per share.
I can't find any figures for before that period and of course there have been none in the last two years.

Can anyone answer my question about what OGOG can do if this SoA fails?

Its all in the takeovers code-eg they could do nothing,they could creep,they could make a full takeover bid and if they acquire 90% shares compulsively acquire the remainder.

If they did the latter and you vote against then arbitration and you get a fair and reasonable price with ogog paying costs and interest.


My reading of the code is yet again they have today on the nzx engaged in misleading information.There is always 2 side to any story and they deliberately have not stated the preferred value indicated by srk.

It is the directors duty not to engage in any activity that is misleading.If I was them I would be getting another legal opinion. With SEA holdings and TTP their lawyers got it completely wrong