NZ Oil & Gas (NZO)

[neopole]

and a buyback only puts cash in the pockets of traders and speculators.
the longterm investor and supporter of the company misses out in the short term.

[shasta]

i realise 51% wont delist the company, but 51% is an easy first target and gets control,
after that mop up the rest..........

Just remember 51% does not give you control over the cashflows!

90% + & complusory acquistion does

[tim23]

A buy back reduces number of shares on issue and would increase earning per share?

[Paddie]

with all the option monies and tui monies sitting in a bank account along with a depressed sp........ im wondering how hard it would be for someone to take a stand in the market to get 51% and use the shareholders wealth to partially pay for the takeover?
i think the board should be bending over backwards to protect the piggybank before it gets taken off them.
best way to do it is to shore up the sp.
giving a divvi will help boost that, or finding a large cornerstone holder.

If nzo is not careful, i can see them being raided and delisted, and current share holders missing out on the real spoils to come in the future.

just my opinion....

I agree Neopole,

NZO should be worth well over $2 by now.

Management just don't seem to be active in increasing shareholder wealth.

The environment they have had of late I doubt will get any better, so why would you not reward loyal holders.

I believe that this is part of the reason holding back the price.

$2.50 should be around the corner yet posters are high fiving over $1.66 today.

Not me!

Paddie

[tim23]

Gee you guys are hard to please share price up 70% this year alone, management can't talk up the share price as such, I reckon they're doing fine.

[fish]

[QUOTE=Paddie;216051]I agree Neopole,

NZO should be worth well over $2 by now.

Management just don't seem to be active in increasing shareholder wealth.

The environment they have had of late I doubt will get any better, so why would you not reward loyal holders.

I believe that this is part of the reason holding back the price.

$2.50 should be around the corner yet posters are high fiving over $1.66 today.

Not me!

Paddie[/QUOTE
Fully agree with you Paddie .
I hate it when management starts talking about taking shareholders funds overseas-we almost always seem to lose out-look what it did to Telecom in Australia and Air NZ with ansett.
TTP is another bad example albeit due to a majority shareholder and a board of directors not acting in the interests of shareholders.This saga taught me a lot about minority shareholder rights and thanks to all who participated we won at arbitration and the high court appeal .
NZO board have in my opinion in recent times acted well and made good decisions . However that doesnt stop them-as it didnt stop the air nz/tel boards getting carried away trying to expand overseas with disastrous results .
I believe we have shareholders posting on this thread with a wealth of experience who would make excellent directors acting in our best interests-eg digger , bermuda , unicorn.
The board has space for another director and additionally 2 directors have come up for re-election .
Maybe its time to make our votes count- Amongst family and friends outside this thread I could muster up over 3 million and digger has more than me -bermuda mentioned a few weeks back he had a 100,000 and fried egg must have more than this( I am just pointing out the magnitude of shares some posters hold and not that they agreee with me ).
If others want to explore this avenue please could they post here-or send me a private message so we could gauge if this road is worth exploring .

[tim23]

So a change of director or 2 is going to get the shares over $2 - the market decides what they are worth and today its $1.66

[Unicorn]

I agree Neopole,

NZO should be worth well over $2 by now.

Management just don't seem to be active in increasing shareholder wealth.

The environment they have had of late I doubt will get any better, so why would you not reward loyal holders.

I believe that this is part of the reason holding back the price.

$2.50 should be around the corner yet posters are high fiving over $1.66 today.

Not me!

Paddie

We live in uncertain times. All shares should be expected to be at a larger discount than in more settled times. NZO have just completed the largest fund raising on the NZX this year, which should be expected to force the share price towards the issue price for a while.

Management appear to have delivered an underlying operating profit well in excess of $100M, and the Pike holding is currently worth more than $100M above book value. Kupe appears to be progressing well for such a large project. I think management has done very, very well for their shareholders this year.

If you invest on NZX you need to accept that your shareholding will be at a discount to the underlying value, at least until an overseas buyer decides to take your company over. This is a legacy of the 1987 crash, a fixation with property, and a widespread preference for borrowing rather than investing. I don't think we can blame NZO management for that.

I am pleased to see that NZO is clearly not just resting on its Tui laurels. There are already things happening to grow the company further, and clear attention being paid to more growth into the future. Many of these things can't be rushed, so we should be pleased that there have been no hasty decisions made.

I am happy that short term panaceas like throwing dividends at shareholders are taking second place to the more important issues of sound financial management going forward. NZO shareholders have had a great year, and have a lot to look forward to in the year ahead. Can't ask for much more than that.

[fish]

So a change of director or 2 is going to get the shares over $2 - the market decides what they are worth and today its $1.66

Quite right Tim

[tim23]

Well put Unicorn - I'm a satisfied holder and I suspect at this years AGM it will be the David Salisbury show - last year I felt he was a bit overshadowed by Tony Radford.