NZ Oil & Gas (NZO)

[peat]

Absolutely.He asks the important question as to why Independent directors would recommend such a low ball offer
Its a pity he didnt comment on the 13/9/19 report but maybe he is awaiting to hear from the takeovers panel/nzx.
I do not think we will long to hear as a misleading announcement such as this could lead to unfair acceptance of the offer and people are voting now

Gaynor also highlights Dr Rosalind Archers lack of directorial experience
Archer is a Professor at Akl Uni Engineering. She has been the HOD for several years and I know she specialises in geothermal engineering, but apparently also (according to the Uni website)

petroleum reservoirs, gas hydrates and carbon dioxide sequestration.

[Sideshow Bob]

I just had a look at the NZO trade volumes since the SoA was announced on 10 July.

Shares have been trading pretty close to the 62c offer price the whole time.

Approx 3.5 million shares have been purchased at these prices (roughly 7% of the target shares). If everyone is behaving rationally, it would be fair to expect the majority of these shares to vote AGAINST?

I would think the same. Unless someone been buying for another entity and then signing them into the offer at no/minimal cost. Sure dodgy, but a possibility??

[mistaTea]

I would think the same. Unless someone been buying for another entity and then signing them into the offer at no/minimal cost. Sure dodgy, but a possibility??

An interesting thought. But I do not believe OGOG would risk doing anything outright dodgy/illegal like that.

They have given us a crappy offer, and I am unimpressed with Northington etc. But I am not near the point if jumping to the conclusion that, just because OGOG are trying to get my shares from me for cheap they must also be doing something illegal etc.

I might just be naive about the whole thing, but unless we have proof to support that kind of speculation I think we should tread carefully.

[fish]

An interesting thought. But I do not believe OGOG would risk doing anything outright dodgy/illegal like that.

They have given us a crappy offer, and I am unimpressed with Northington etc. But I am not near the point if jumping to the conclusion that, just because OGOG are trying to get my shares from me for cheap they must also be doing something illegal etc.

I might just be naive about the whole thing, but unless we have proof to support that kind of speculation I think we should tread carefully.

Northington in my opinion have been very wrong to a serious extent that demands investigation
JFK said-
"All that is necessary for the triumph of evil is for good men to do nothing"

I do hope the NZX and takeovers panel take action to get a fair valuation asap-all this time shares are being traded after false information has been given.
The Independent directors could get another report or instruct Northington to correct their errors.The longer this takes the worse the damage

[Sideshow Bob]

An interesting thought. But I do not believe OGOG would risk doing anything outright dodgy/illegal like that.

They have given us a crappy offer, and I am unimpressed with Northington etc. But I am not near the point if jumping to the conclusion that, just because OGOG are trying to get my shares from me for cheap they must also be doing something illegal etc.

I might just be naive about the whole thing, but unless we have proof to support that kind of speculation I think we should tread carefully.

It wasn't necessarily speculating - just an alternative. My thoughts were that any buyers are in for the chance of a no vote, and further consequential events. The other is about the only other possibility I could see and don't think this would happen.

[fish]

I would think the same. Unless someone been buying for another entity and then signing them into the offer at no/minimal cost. Sure dodgy, but a possibility??

The people buying the shares know the offer has effectively failed.
They are buying because the Northington Report is seriously flawed and undervalues NZO.
They are buying to get high value assets including substantial cash reserves and Ironbark that has at least a 1 in 3 chance of being developed into one of the worlds largest gas fields.
OGOG in my opinion may make another offer but it will not be accepted by those I know who hold substantial holdings.I suspect they have been talking to acc and other big shareholders and know this offer has failed.They will now have a better idea of what they might have to pay to succeed with a higher offer.
The claim of only 5% chance of economic success for Ironbark will never be repeated as it would then be fraudulent

[blackcap]

The people buying the shares know the offer has effectively failed.
They are buying because the Northington Report is seriously flawed and undervalues NZO.
They are buying to get high value assets including substantial cash reserves and Ironbark that has at least a 1 in 3 chance of being developed into one of the worlds largest gas fields.
OGOG in my opinion may make another offer but it will not be accepted by those I know who hold substantial holdings.I suspect they have been talking to acc and other big shareholders and know this offer has failed.They will now have a better idea of what they might have to pay to succeed with a higher offer.
The claim of only 5% chance of economic success for Ironbark will never be repeated as it would then be fraudulent

One thing I do then not understand Fish. If they know the offer has failed, why are they delaying the CUE AGM?

[fish]

One thing I do then not understand Fish. If they know the offer has failed, why are they delaying the CUE AGM?

Good question and it would be helpful to know the answer.I have had thoughts but they are too speculative to post.Clearly OGOG/NZO will have been planning alternative strategies .I have already bought into CUE for the Ironbark prospect.
Maybe a takeover of CUE?

[fish]

Just some further speculative thoughts-
NZO misleads the market on the 13/9- scam is exposed.
17/9/19 nzx announcement John resigns
OGOG/Northridge are in panic mode.
Fallout could reach as far as CUE.
OGOG do not want to face shareholders at CUE agm=meeting postponed

[airedale]

I have just received the scheme {scheming}? booklet today. I will vote against the scheme.