NZ Oil & Gas (NZO)

[shasta]

That modification was made prior to delivery. It allows production to continue as the ship changes direction with the wind. It does not magically allow production, or offloading, to take place in strong winds and high seas.

Update on results of the options conversion

http://www.stocknessmonster.com/news...E=ASX&N=301403

[Jess9]

Anyone have handy the cash per share on NZO post conversion? With all the money in the bank I guess it could be a significant sum/share now.

[Lion]

Stocknessmonster says 92.5% of options have been exercised, raising NZ$192,724,465.50

[Xerof]

47 cents for FY08F, according to a recent valuation, based on a 90% oppies conversion rate, so maybe slightly higher, as it came in at 92.5%

You can find oodles of such info if you just research on NZO website under Investor Section/Broker research. I'm referring to John Kidd's June 23 research note - puts the total DCF value at $2.32 with upside....

[Bob C]

With NZO's market cap of around $650m (per this morning's announcement) this places the company as the 14th largest stock on the NZX, ahead of the current 14th and 15th placed; F&P Appliances ($521m) and Nuplex ($413m).

So, surely its just a matter of time until NZO breaks into the Index, leading to a scramble for stock from the Instos/Index funds similar to the recent run up when PRC entered the top 50?

The current numbers are obviously based on "depressed" share prices for all stocks (15% oversold if you believe the report out from Forsyth Barr today) but surely NZO has more potential for a price re-rating once the Annual Report is published, no doubt amongst some rather depressing numbers from other big name NZ companies.

At $2.00 NZO would over-take the next biggest company in the NZ15 Index; AMP NZ Office Trust (at $770m).

Bob C

Disc. Holding NZO and buckled in for lift-off.....

[Corporate]

47 cents for FY08F, according to a recent valuation, based on a 90% oppies conversion rate, so maybe slightly higher, as it came in at 92.5%

I don't think 47cps cash is correct. $192m/383m = 53cps to begin with. Ignoring all the tui cash etc.

[the machine]

any idea if there will be daily reports now that momoho drill into the target?

M

[Xerof]

It's net cash of 47 cents

They do have debt on the other side, and whilst the dosh is flooding in from Tui, doubtless there's a fair bit coming out of Arkwright's till for sundries.

BTW, Energy Index getting trashed here in NYK this morning.....Transport is taking the gains......

[Nitaa]

oil getting wacked a bit over the last 2 days and quite rightly so. The dramatic rise in oil prices is creating a lot of volatility. Im hoping for some stabililty around $100 to $120.

One thing i do no is i dont know the short term of oil prices. Go up $160 plus or sub $110 in the next 4 to 8 weeks or stay somewhere in the middle? Oh for a crystal ball.

[Naylz]

Radfords disclosure notice is interesting. It relates to his indirect holding interests. Some options were allowed to lapse, others were sold for 2 cents. Last week a super fund in which he has an indirect interest sold NZO shares. Is this a bit of a worry? He may not have had any influence over this fund.

Is this a worry at all. Is there something we should know?