NZ Oil & Gas (NZO)

[blackcap]

Absolutely wiremu - there are too many of these creative uses of statistics now to put it down to chance or just plain ignorance.

These b@stards have just had one hell of a spanking - and a very public one too. So they will use whatever statistics that can to try and save face.

NBR posted a comment of mine, however Tim Hunter edited out a crucial sentence. He did not want to sully the NBR with my rantings.

I suggested John the Wise stick to licking envelopes and leave market speculation to those who have a clue.

I mean, I thought it was pretty funny.

Now that this SOA has been scuppered, I wonder what their next play will be. Will they make another attempt via the more traditional on market route or will they just wait it out till the SP falls and investors get bored? I am guessing they wanted the full 100% for the Ironbark drill? If not they can play the long game and if Ironbark does not meet expectations mop up the remainder of the cash and assets for about 50 cents and disillusioned holders sell out?
Then again if they want the full 100% for the Ironbark they will need to get a move on and might have to pay a pretty penny. Either way it is interestingly poised.

Now as to the credibility of Rosalind and Ritchie? Do OGOG even want them to stay on as independents? Because they have not served their purpose well (I am assuming here) and if I were in Og's shoes I would want other independents on the board who are perceived to be more credible and useful to their endgame. The current CEO and independents and exec team may well be sweating slightly as well as it may be those who OGOG have relied on to get the deal across the line (being familiar with NZ culture/conditions etc) and have failed miserably.

[Beagle]

If Ironbark is a failure this could easily sink below 50 cents, perhaps well below that level. I think they'll wait you guru's out...

[mistaTea]

Now that this SOA has been scuppered, I wonder what their next play will be. Will they make another attempt via the more traditional on market route or will they just wait it out till the SP falls and investors get bored? I am guessing they wanted the full 100% for the Ironbark drill? If not they can play the long game and if Ironbark does not meet expectations mop up the remainder of the cash and assets for about 50 cents and disillusioned holders sell out?
Then again if they want the full 100% for the Ironbark they will need to get a move on and might have to pay a pretty penny. Either way it is interestingly poised.

Now as to the credibility of Rosalind and Ritchie? Do OGOG even want them to stay on as independents? Because they have not served their purpose well (I am assuming here) and if I were in Og's shoes I would want other independents on the board who are perceived to be more credible and useful to their endgame. The current CEO and independents and exec team may well be sweating slightly as well as it may be those who OGOG have relied on to get the deal across the line (being familiar with NZ culture/conditions etc) and have failed miserably.

Well, I doubt we will be fortunate enough for OGOG to just leave well alone. There is just too much money to be made - and they know damn well the odds of success in Ironbark are much higher than 5% (probably 5 - 10 times that). They also know that NZOG farmed in cheap, given Cue desperately needed to get the deal done.

They also know that Clipper is definitely going to get drilled. I expect OGOG to farm in directly. Beach already holds 50% and I am sure BP could be talked around to take 20% or so. All speculation on my part, of course, but I just can't see them letting Clipper go...when that was the main reason they outbid Zeta from control of NZOG.

I also think that Alistair McGregor will be in a tight spot with his superiors. They will be wondering just how the hell was he unable to purchase 30% of a microcap stock...given they already own 70%?! I hope for his sake their finance people don't look too closely at the offer he made. Given the massive upside in Ironbark and Clipper...and given the enormous benefits they would have (in terms of flexibility moving forward) by taking 100% control and delisting... why the hell would anybody try to offer a price below existing asset value and hope 'old Kiwi' was thick enough to go for it?

What will their next move be? Who knows mate. They could go for the hostile takeover path and start buying up I suppose. They could vacuum up quite a lot of shares for relatively cheap this way I reckon (sub 80c).

They could hit 90% for a relatively cheap price and then pony up a bit more for the remaining stubborn shareholders who go to court.

[mistaTea]

If Ironbark is a failure this could easily sink below 50 cents, perhaps well below that level. I think they'll wait you guru's out...

Yes, yes, yessss! As digger has pointed out many times - we 'gurus' have done OGOG a huge favour by blocking this.

I am sure OGOG are praying that Ironbark fails now so we can all lose lots of money

[blackcap]

http://makethemaccountable.com.au/20...cher-responds/

[blackcap]

questions have been put to independent directors.

http://makethemaccountable.com.au/wp...TTER_10.24.pdf

[trader_jackson]

Votes For is rising...

[blackcap]

Votes For is rising...

But they have another 9 minutes and its not going to happen. 13m against is big enough to block even if they get ALL other shareholders to vote For.

[Bart]

But they have another 9 minutes and its not going to happen. 13m against is big enough to block even if they get ALL other shareholders to vote For.

Nailbiting stuff. And what about the Russians meddling? And 788 in favour, 347 against suggests more than two-thirds in favour - do they not realize what is at stake? Probably not following this blog, and believing the 5%

[mistaTea]

And 788 in favour, 347 against suggests more than two-thirds in favour - do they not realize what is at stake? Probably not following this blog, and believing the 5%

All that matters is how many shares were voted - not how many individual shareholders voted.