NZ Oil & Gas (NZO)

[fish]

Haha no not me. I am waiting for a possible run up when "The Drill" gets closer. Waiting for some volume on the bid side.

Note that no Aussie interest so far from insto's or other.

Just a note, now that NZO is also listed in Australia, Aussie Insto's can also purchase NZO shares on the NZ market is my understanding. (those that have it in their mandate that they must purchase stocks listed in Australia).

I am vastly overweight in NZO.
May have to transfer a lot to AU in case I decide to slightly reduce my holding should the price get close to my value

[Davexl]

I am vastly overweight in NZO.
May have to transfer a lot to AU in case I decide to slightly reduce my holding should the price get close to my value

Thinking about doing the same thing, got the form from the broker this morning - liquidity...
But also thinking that NZO may suffer a bit of upside price compression being on the ASX
with the international downturn. ASX overall seems more affected by international considerations
than the more 'sheltered' NZX. Pity the prices are linked, but liquidity should be better...

[blackcap]

I am vastly overweight in NZO.
May have to transfer a lot to AU in case I decide to slightly reduce my holding should the price get close to my value

Hi fish, you will not need to transfer any to Australia. The arbers will make sure the price here in NZ matches the price in Australia by +- 1 cent.

[mistaTea]

If Mr Market behaves more rationally once the ASX trading starts tomorrow, NZO should end up with a Market Cap higher than Cue.

[Lion]

If Mr Market behaves more rationally once the ASX trading starts tomorrow, NZO should end up with a Market Cap higher than Cue.

Really, mistaTea?? I did some quick arithmetic that suggests you are being rather optimistic here.
NZO's MC is NZ $117m or A$108m. To get up to equal Cue's MC of A$135m, it would need to climb by $27m which is a 25% increase. That implies a NZ shareprice of about 86c or A80c
Or have I missed something? I hope you are right - would you care to explain your reasoning here please?

[mistaTea]

Really, mistaTea?? I did some quick arithmetic that suggests you are being rather optimistic here.
NZO's MC is NZ $117m or A$108m. To get up to equal Cue's MC of A$135m, it would need to climb by $27m which is a 25% increase. That implies a NZ shareprice of about 86c or A80c
Or have I missed something? I hope you are right - would you care to explain your reasoning here please?

I am not making any predictions here in terms of what the SP will do...

I am simply stating that NZO is a more valuable company than Cue.

This is the case because we own half of Cue, have $50M in the bank ready to invest (and no debt), 4% of Kupe and a 15% direct interest in Ironbark (our total interest in Ironbark is ~25% when you add in half of Cue’s share).

So I am simply pointing out that if Mr Aussie Market says that Cue is worth A$122M...then if he is behaving rationally he should value NZO at some number higher than that. How much higher - I leave to him. But it should be higher.

What ACTUALLY happens with NZO’s SP from tomorrow is another story!

[fish]

Hi fish, you will not need to transfer any to Australia. The arbers will make sure the price here in NZ matches the price in Australia by +- 1 cent.

Thanks Blackcap
I will hold tight and watch very closely
Tomorrow will be very interesting
Will traders on ASX sell CUE to buy NZO as Mista Tea logic suggests might happen ?
Whatever happens the Ironbark drill may encourage a sp rise so I will be patient if need be-and I only want to sell a few if the price is right

[digger]

My 2 cents worth is that not much of anything will happen tomorrow,but spread that out over two weeks and it could be a different story.Have seen that happen before and then we look back and ask why did it not happen right off. My take on that is it just takes a small amount of time for the fact that NZO is on the asx to sink in.
Now the more interesting question is why are we listing on the ASX market.I can come up with just as many reason for not listing as going ahead with listing. However from ogog posible thiking my hint is that OGOG is positioning themselves in case the 5% chance of success turns into 100%.
Good luck to all holders and especially myself.Since TUI nzo has had no drilling success and that is why the SP is worth less than the money in the bank.What a wake up call it will be to the nz investment community that values nZO as a non starter.From my point of view success at Ironbark will be a last laugh worth as much as the money itself.[well not really but you know what i mean]
Cheers and buckle up

[rooster]

With this 'thrill of the drill' how come Beach energy isn't getting more interest? It's looking good value and they are net cash.

[Ripping]

The Ocean Apex platform has not moved from its current position. The Norman Leader (I believe this is one of two support ship/Tugs for the O.A.) sailed to port a couple of days ago for a brief 12 hour (or so) visit, and when last seen on the map its was heading back to the Ocean Apex - about 20nm out - it should have arrived by now. I get the idea final preparations are being made for the O.A. to sail to the Ironbark propect, and perhaps will be underway within a week.
Trust me when I say I have no idea what I'm talking about, just trying to interpret vessel movements from the comfort of the couch.