NZ Oil & Gas (NZO)

[Toddy]

I can't get the article. Hopefully the Herald publishes it.

[Toddy]

I coughed up and subscribed to NZ Business desk.
Good article.
Very much back in Business with a change in Government.

[Toddy]

I expect the quarter cash flow update due tomorrow to be very positive. Low Nzd, high oil prices, solid production and consumer demand.

[Sideshow Bob]

Here you go Toddy.

http://nzx-prod-s7fsd7f98s.s3-websit...801/406164.pdf

Quarter Highlights
• Production up on previous quarter by 2%
• Production receipts up 25% on previous quarter
• Cash balance of NZ$42.4 million up 16% quarteron quarter
• KS-9 rig moving to site• Study on helium recovery unit at Mereenie
• Inwell production data gathering at Mereenie
• South32 Gas Sales Agreement extended

No cashflow report as yet.

[Toddy]

Have a read of the CUE Chair address from today's AGM.

[fish]

Have a read of the CUE Chair address from today's AGM.

Thanks .
Same Chair for CUE as NZO.
Similar large cash surplus and minority shareholder pressure to improve the share price .
A slow share buyback over the next couple of years would do this and cost only a small percentage of future income without impairing investment.
The low sp and lack of liquidity in my opinion is due to potential buyers uncertainty as to future returns/fear of another rights issue etc .

[Marilyn Munroe]

The installation of a new government friendlier to oil exploration may give some optimism about drilling resuming.

However the greenies will be strident in their opposition.

One argument they are likely to raise is NZOG's sale of their interest in Tui to Tamarind who subsequently went bust. This left the taxpayer holding the baby for the cost($NZ394m) of well cleanup and plugging.

This makes it hard to argue the oil and gas industry are good corporate citizens.

Boop boop de do
Marilyn

[fish]

Good article in the Herald today about the need for more exploration for natural gas .
Trans power support-and they know more than anyone .
thank goodness the greenies have lost power

[Toddy]

Yes, good article.

It's outright sad how the previous left wing Government did not take into account the cost of living when making it's ban decisions.

NZO has a solid balance sheet and decent earnings. Has some good plays in the gas exploration in Australia and in Indonesia.

There is not any real need for them to splash cash around NZ exploration.

Maybe the article should have mentioned Winston desire for the Govt to invest in NZ oil and gas exploration.

All positive for the Industry going forward.

[fish]

Yes, good article.

It's outright sad how the previous left wing Government did not take into account the cost of living when making it's ban decisions.

NZO has a solid balance sheet and decent earnings. Has some good plays in the gas exploration in Australia and in Indonesia.

There is not any real need for them to splash cash around NZ exploration.

Maybe the article should have mentioned Winston desire for the Govt to invest in NZ oil and gas exploration.

All positive for the Industry going forward.

Current gas reserves only enough for 10 years at current usage.
Increased immigration,banning coal.drought etc could shorten this imho