NZ Oil & Gas (NZO)

[Chris Roberts]

Last quarterly was released on Tuesday 29th April . All I know is that we are due for the next quarterly to be released in July -and there are not many days left !

I have high expectations for this report -
will it show close to a million dollars a day gross income ?
What will the net profit be ?
Will there be an interim or special dividend announced ?

Would be good to know exactly when it will be released

The planned timetable for NZOG announcements is:
31 July Quarterly Activities Report and Quarterly Cash Flows Report
30 August Preliminary Results Announcement to the Market
Late September Annual Report and Shareholder Review released
29 October AGM in Wellington
30 October Investor briefings in Auckland and Christchurch

[da puntzda]

substantial unfulfilled buying support North of $1.50, be interesting to see if there orders are fulfilled today.

[sideline]

[Chris,
since there has been a bit of scaremongering about the effects of hedging on this thread,
could the quarterly report please state what the situation on 30 June 08 was?
We all know that the puts for downside protection are spread out till 2010,
but we don't know if any of the calls are still unexpired. A clarifying statement
about the status and strike prices & expiry dates of unexpired calls (if any) would be much
appreciated.
Thanks

[Corporate]

Chris I second this.


On a seperate note. It definitely looks like someone is playings around with the share price. Good to see buying depth increasing.

[Chris Roberts]

NZOG has always been happy to respond to queries about hedging. As we have stated in the past, the only hedging we have in place for Tui Oil is no cost collars (puts and calls) that were required as part of financing arrangements. Most of this hedging has now expired. There remains around 80,000 barrels with calls that come due at different times over the next 2 years or so, some at US$86 and some at US$101. The puts are at $US50.

[Corporate]

Thanks Chris,

How many of the calls expired during the year and has NZO been required to meet any calls during the 07/08 financial year? If so how many barrels and at what price?

By "come due" do you mean expire?

[boxburger]

Hello Noggers,
Watching the recent depth, volume and price movements I too feel that more has been going on than one separate party selling shares and a different one buying them. Nothing I can put my finger directly on, just a feeling that I'm watching manipulation at play.

I can imagine there have been a few "What are we going to do with the money we've yanked out of the falling markets?" meetings going on in boardrooms around NZ. Capital looking for a job. The idea of a 'Stop Loss Raid' sounds both intriguing and plausible to me.

I was initially frustrated to imagine such goings on, going on. It seems under-handed.

Then I read a post back a bit that suggested I consider being grateful for the attention. If the stock is being 'played' with, I believe it is a play that after a period will have to be run down by momentum, whether that be up or down. I own NZO, I'm betting up.

It is better to be the pretty girl at the dance getting annoyed by the lusty wolves than the wallflower.

[Mick100]

Hello Noggers,
Watching the recent depth, volume and price movements I too feel that more has been going on than one separate party selling shares and a different one buying them. Nothing I can put my finger directly on, just a feeling that I'm watching manipulation at play.

.

You guys with your manipulation theories have got no idea
NZO's share price went up with the price of oil and now it's going down with the price of oil - nothing strange about that

If you want to see manipulation have a look at the north american markets and take note of what some of the hedge funds are doing to the junior miners
through naked short selling - they are destroying companies - their shareprices have been beaten down so low that these companies can't raise funds through either debt or equity issues anymore - that's what I call manipulation
.

[sideline]

Thanks Chris

[boxburger]

Hi Mick,
I'm disappointed that you have chosen to open your response to my 13th post in several years with an insult. It makes me feel as welcome as a turd in the punchbowl.

I will have a look at the small US miners you speak of and see if I can ascertain for myself whats going on there, thanks.

Yes Malcolm, you're right, my research is incomplete. It always seems to be that way. Have you finished yours?