NZ Oil & Gas (NZO)

[fish]

[FONT="]NEW ZEALAND OIL & GAS EXECUTES PERTH BASIN FARM IN AGREEMENT WITH
TRIANGLE ENERGY[/FONT]
• New Zealand Oil & Gas executes binding Term Sheet with Triangle Energy
• Acquiring a 25% interest in Triangle’s L7 and EP 437 northern Perth Basin permits
• Low upfront entry cost, with 3 exploration wells aimed to be drilled in 2024
• Recently acquired 3D seismic survey covers highly prospective Early Permian gas trend
• Agreement subject to conditions, including final due diligence and regulatory approvals

https://www.nzx.com/announcements/405396

Further good news in the quarterly report just released

[mike2020]

Is this really sitting at 50% of NTAs? The last time it was like this they came out with the SOA.

[Sideshow Bob]

Is this really sitting at 50% of NTAs? The last time it was like this they came out with the SOA.

As of the last AR, net asset backing per share was 97c, net tangible asset backing per share was 92c - so yes at todays price of 46c, exactly 50% of NTA. Even if looked at just the cash NZO hold (excluding any cash that Cue holds), it is roughly 28.5cps and growing.

In respect of the NTA, it is how those oil & gas assets are valued.

BUT, what is the plan for generating wealth for (minor) shareholders?? No divvies, and shareprice going nowhere (even during an oil & gas boom) because it appears to be run for the benefit of major shareholder, who don't have much/any regard for minorities. Now primary listing on the ASX, but little/no interest.

Half year report comes out in about 3-4 weeks.

[Wiremu]

Minorities, what minorities?

Interesting that a retiring officer of the company has recently made a statement that includes his being proud "of what we have achieved" including planning and executing M&A country entries including U.S. deepwater Gulf of Mexico.

Further, NZOG states that it has a full portfolio of exploration and production interests in including the United States.

Why is it that minority shareholders have been told nothing of this development?

[Sideshow Bob]

Minorities, what minorities?

Interesting that a retiring officer of the company has recently made a statement that includes his being proud "of what we have achieved" including planning and executing M&A country entries including U.S. deepwater Gulf of Mexico.

Further, NZOG states that it has a full portfolio of exploration and production interests in including the United States.

Why is it that minority shareholders have been told nothing of this development?

What....??

Not heard of this either. Using the cash piggyback/generation for exploration for Ofer......

Although probably should change their name to NNZOG (Not New Zealand Oil & Gas).

[fish]

Is this really sitting at 50% of NTAs? The last time it was like this they came out with the SOA.

It is sitting as you say-but the nta is from last year .
The sp is roughly four times last years net profit per share.
80% of gas is sold on fixed long-term contracts at around$5 Gj.
As these roll off they are being replaced by $20 plus contracts .
Hence I expect net profit pa will be close to the sp soon-unless the sp shoots up.

My view is the low sp is partly due to little insight when dividends will restart -or another method of returning cash
AJ is determined to make good use of cash reserves and cash flow-he tells me it will not sit in bank accounts but be used for good value investments and surplus returned

[SPC]

Hopefully us minority holders will one day get something, gosh even if its just enough to buy one of these oft- mentioned Perth lobsters AJ and the others seems to like feasting on. And to pay for the gas to cook it with..too much to ask?
Or should I open another tin of tuna and forget the whole thing..

[nztx]

Been burnt on this one before .. once burnt very shy

A tin of tuna might have more bounce based on past playbooks

it's surprising this outfit haven't packed up shop & disappeared off to some obscure
corner of ASX

[fish]

Been burnt on this one before .. once burnt very shy

A tin of tuna might have more bounce based on past playbooks

it's surprising this outfit haven't packed up shop & disappeared off to some obscure
corner of ASX

Yes a lot of us have been burnt .
If they should move overseas I suspect some will invoke minority shareholder rights and with arbitration obtain a fair and reasonable value for their shareholding.

[blackcap]

Yes a lot of us have been burnt .
If they should move overseas I suspect some will invoke minority shareholder rights and with arbitration obtain a fair and reasonable value for their shareholding.

You can only invoke minority shareholder rights if the major shareholder gets over 90% of the shares and are at the compulsory acquisition stage. If they decide to move the company to the ASX or wherever, minority shareholders are still just minority shareholders and have the same rights as now.

But as NZO is a NZ company registered with the NZ companies office, they cannot actually go anywhere and must have a NZ based director and NZ based address.