NZ Oil & Gas (NZO)

[mistaTea]

By the time the report is run on Monday morning, there are likely to be at least 12 million shares against.

That would mean OGOG would need to get a total of 36 or 37 million shares to vote FOR to have a chance. They have less than 8 million right now.

[mistaTea]

What do the 2,397,795 discretionary shares relate to?

Shares that have been given to someone else to proxy for them?

If so, a bunch of those will have NZSA as their proxy and will vote AGAINST.

[mistaTea]

By the time the report is run on Monday morning, there are likely to be at least 12 million shares against.

That would mean OGOG would need to get a total of 36 or 37 million shares to vote FOR to have a chance. They have less than 8 million right now.

Just to put this into a bit more context... once the Monday tally is read it, OGOG would need a 95% voter turnout to have SOME chance of getting this deal done.

In other words, it's over. They just need to cancel the special meeting now - save everyone time and hassle having to turn up to a pointless meeting.

And then stay true to their word, and leave well alone given this offer was 'full and final'.

[mistaTea]

Shame, the stock price has already dropped damn near 10% to 65c.

All the speculators hoping to make a quick buck jumping ship I suppose in an attempt to realise whatever gains they still can.

With a little luck the SP will tank to 50c again

[Vaygor1]

Shame, the stock price has already dropped damn near 10% to 65c.

All the speculators hoping to make a quick buck jumping ship I suppose in an attempt to realise whatever gains they still can....

... or jumping out in order to jump back in cheaper.

Either way, given today's Share Price drop, the speculators don't think the SoA is going to fly... or at least have serious doubts.

For those who are in it for the long haul, today is a good news day. \(0,0)/

[Joshuatree]

CUE Annual Report to Shareholders 72 pages 5.3MB

They are excited about Ironbark, featured 3 times.

[Sideshow Bob]

CUE Annual Report to Shareholders 72 pages 5.3MB

They are excited about Ironbark, featured 3 times.

CUE colouring-in dept must not have got the memo.....

[blackcap]

CUE Annual Report to Shareholders 72 pages 5.3MB

They are excited about Ironbark, featured 3 times.

Thanks JT. What is more interesting too is that Rod Ritchie is a director of CUE. Hello!

[mistaTea]

CUE Annual Report to Shareholders 72 pages 5.3MB

They are excited about Ironbark, featured 3 times.

Hang on a second. I read (and re-read) Alistair's opening remarks...he seems overjoyed about the Ironbark prospect! Why has he not told Cue shareholders the truth?!

The truth that the project is 95% sure to fail and they may as well kiss their A$11.5M held in escrow goodbye?

[Carpenterjoe]

Very curious.

If it is not a compulsory course of action, then OGOG are choosing to do this.

If that is true, then why would OGOG choose to make NZOG announce daily progress?

Well, they wouldn't choose to do this if the current voting tally was in their favour - if they had it in the bag.

So I would have to assume that they are well short of the required votes, and by publishing the results daily they hope to galvanise fence-sitters to take action and vote for the scheme.

A hope that will be in vain.

Suppose underdog tactic, drive the market price lower on failing vote. Holders feel like they are loosing money and decide to sell at the higher voting price.