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  1. #5671
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    Z,

    As discussed here before, I think PPP could be a first step and then look for something else...Origin's NZ assets? Cost???

    Re the Russian connection, I spent 5 years working in Russia running the Hermitage Fund...at that time it was Russian specific and we were large holders of Gazprom! Thought Gazprom would be a good name as it is a oil and gas co. and it has been very good to me!!!

  2. #5672
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    Quote Originally Posted by gazprom1 View Post
    Z,

    As discussed here before, I think PPP could be a first step and then look for something else...Origin's NZ assets? Cost???

    Re the Russian connection, I spent 5 years working in Russia running the Hermitage Fund...at that time it was Russian specific and we were large holders of Gazprom! Thought Gazprom would be a good name as it is a oil and gas co. and it has been very good to me!!!
    gazprom1 ,a big welcolm aboard.Your Russian experience if you would be so good as to share it with us will be invaluable.This site needs as much varied and new experience as it can get.Hope you stick around and share your thoughts.
    Cheers.
    digger

  3. #5673
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    Any thoughts on NZO going upstream? If Contact gets sold off by Origin the new owners might be interested in selling off the swift energy assets.
    Disclaimer: Do not take my posts seriously. They are only opinions.

    AMR has sold all shares and is pursuing property.

  4. #5674
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    Dividends
    There have been several comments posted recently about pampering to shareholders by giveing out a dividend.Also another about a div just because you can.I would like to add my 2 cents worth on that subject.
    Surplus money must be the one area of discussion that all we long term holders and directors have thought least about.Prior to very recently the only connection we have had with money is finding it somewhere somehow to fund the three projects.It is only in the last 6 months this situation has explosively changed,so whoever comes up with an idea how to best spend money is treading on virgin territory.
    My own is radically opposed to what i would have thought years ago.Mostly i invested in shares that had blue sky and sold out as production and income sent the share skyward,so have little experience in dividends and there effect on SP..Now i am staying and retiring with NZO so have to face the what to do with surplus money question..In the past i would have said never pay a dividend and let the sp rise by that much.However if anything i am a pragmatist and it seems clear to me that the NZ investing public want a dividend and measure the success or otherwise of a share on yield.My recent approach to the bank to borrow money to fund NZOOD conversion came right up against'what is the three 3 yield?'. Many discussions i have had with potential investers have stalled as NZO has no established yield.My attempts to say otherwise were always dismissed as yeilds are the in thing on this market and i will just have to be a pragmatist and accept that it works.
    The recent 5 cent dividend confirms this.To my suprise the share price went up when if i thought about it at all should have dropped by 5 cents.So it now seems clear to me that the SP is marked down on lack of consistant divs. My final conclusion then is that dividends should be given until the point of gain starts to drop by the amount of the dividend,and i now think this because that is how the market wants it. In fact i would go so far as to say that we could unlock a lot of potential future inflow of sp appreciations by a regular income stream that formally went to the finance companies.
    digger

  5. #5675
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    Default Dividends - 2 cents more worth

    Quote Originally Posted by digger View Post
    Dividends
    There have been several comments posted recently about pampering to shareholders by giveing out a dividend.Also another about a div just because
    ....... (sic).......to say that we could unlock a lot of potential future inflow of sp appreciations by a regular income stream that formally went to the finance companies.

    And my 2 cents worth:

    I philosophically favour dividends.

    There will be further explorations/perhaps acquisitions but they 'should' be paid for out of debt or capital raising (and don't forget there has been a recent share issue) as it isn't 'normal' for one part of a business to subsidise another out of company profit. Remember that one of the costs of development of new business is legitimately the cost of capital - part of that is the borrowing costs. Releasing retained earnings to shareholders keeps a company focussed on the profitability of the individual business units and forestalls a tendency towards cross subsidisation. In a way it forces a business to concentrate on units that are worthwhile rather that 'nice to do'.

    I could also rattle on about investors perception and share price effects - but you've already covered that to good effect.

  6. #5676
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    I tend to favor dividends myself, especially if there is a tendency for the share price to stagnate as is happening at the moment. When the co. announces the full year result we will know what their policy is regarding a full year dividend There is no reason why they cannot use some of their earnings to pay a dividend, and still retain a significant portion to fund an acquisition, or drill some of the more promising permits.
    At the moment the Co. is only making a lot of noise about their future plans, but once they come clean, and make a decision one way or the other, the SP will fire up again. At the moment uncertainty about exactly how they will spend the money is having an effect on sentiment.

  7. #5677
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    Quote Originally Posted by gazprom1 View Post
    Z,

    As discussed here before, I think PPP could be a first step and then look for something else...Origin's NZ assets? Cost???

    Re the Russian connection, I spent 5 years working in Russia running the Hermitage Fund...at that time it was Russian specific and we were large holders of Gazprom! Thought Gazprom would be a good name as it is a oil and gas co. and it has been very good to me!!!
    Hi Gazprom.....going off topic for a minute......a quick google of "Hermitage" reads like a John le Carre and the russian police involved in massive fraud. Amazing!

  8. #5678
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    Quote Originally Posted by digger View Post
    gazprom1 ,a big welcolm aboard.Your Russian experience if you would be so good as to share it with us will be invaluable.This site needs as much varied and new experience as it can get.Hope you stick around and share your thoughts.
    Cheers.
    Thanks Digger. I have been following this site for a while and thought it would be good to be involved. There are some excellent posters and great chat about NOG which I find informative.

    Would be happy to discuss Russia and especially the oil and gas situation when I was there (I finished in 2003 - valued my life too much!). The Hermitage Fund was/is a very aggressive investor in Russia and we used to be involved in many lawsuits against oil/ resource companies so that we could protect our interests. Inevitably, this lead to counter-lawsuits and threats on employees from the "mafia" owners. Bill Browder, the founder of the fund, is now banned from Russia by the authorities (no reason given) but still does business there and has started up a global fund.

    Gazprom is truly an outstanding stock story. Up until 3 years ago, "local" shares could only be bought by Russians which obviously kept the price artifically low. Foreign investors, including ourselves, set up structures in regions of Russia to comply with the law but which enabled us to buy local Gazprom shares. The market was then liberalised and the share price skyrocketed. For example, during the debt default and currency crisis of 1997 we were buying gazprom at between US$0.10 and US$0.15. This year the price has been to US$14 and currently sits around US$12. Not too many shares that you can get 100 bagger on. Huge risk, huge potential reward.

    Sorry for the length of the post but wanted to give a little bit of background to my investing history.

    I agree with Digger etc, seems that this market likes regular dividend payments and the share price reacts in a counter-intuitive way...up and instead of down when a dividend is paid.

  9. #5679
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    Thanks Gasprom1 for your first story.Naturally you will have many more.Is this Russian company not now the biggest oil company in the world,now that they have taken over most of Europe---a condition if they wanted supply.And what happen to that guy that used to run Gasprom that the russian sent to jail so he would sell to the govt.Not a nice place from what i have read.
    digger

  10. #5680
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    The guy I think you are referring to Digger is Mikhail Khordorkovsky who used to control YUKOS. Shocking what the State did to his empire but he was not a particularly nice guy.

    Gazprom has too much control of European gas supplies IMO. Russians can be volatile especially since Gazprom is State controlled. That is why NZ is a great place to invest when we as investors in NOG can have a voice that is heard.

    Does anybody think that NOG could be raided/ taken over for its war-chest??

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