NZ Oil & Gas (NZO)

[gulf]

Madduck give it a break - you have made your point whatever it was !

[clips]

from - NZO: Chairmans Address to 2007 Annual Meeting

"Share Options
The listed options in the company have currency until 30th June 2008. These
options were issued gratis to all shareholders in late 2005 and have an
exercise price of $1.50.
Some investors have asked whether the term or other conditions of these
options may be varied. At this stage, the Board has no such proposal. Having
said that, I assure you the directors are cognisant of the fact that the
exercise of a prior tranche of options brought a substantial sum of very
useful equity capital into the company in June 2005 and that share options
can be a valuable trading mechanism for certain investors.
The approximately 140 million options on issue represent a potential source
of significant funding for the Company and your directors recognise the
substantial opportunity that this can provide for the Company if, as
intended, we have the projects in place that justify that level of additional
capital raising.
Further, as I stated in my overview in the annual report,
*****your directors firmly intend that the value of NZOG is fully recognised in the marketplace ahead of June 2008." ********

[jdg]

never before has a stock been so discussed that has delivered so little to so many. this thing’s been tracking sideways for a good couple of years. i sold about a year ago at a price somewhere near where it is now. i can't see it making the option conversion price before the end of june. excluding exploration success, i simply can't see a trigger that would make it run. those still in the options are expecting the sp to be north of $1.60. i'm not sure if brave is the word for that... best of luck,

-j

[Kropotkin]

Unispiring AGM in welly today.

Went to get a feel for the big brains on the board.......unimpressed.

1. Salisbury came off alright - good speaker but nothing visionary.

2. Radford appears more intent on keeping his own pockets filled to the brim - appears to think NZOGs profits are his personal entitlement (would love to see the coy justify his 2K per day consultancy not to mention additional bennies).

3. Meyer seems like a smug sonofabitch - looked very put out at having to answer q's from the lowly sharholders. Not a man I would trust at the helm of the remuneration committee tbh. I suspect he may have been a used car saleman in a previous life.

Cheap bastards didn't even lay on the sausie rolls!

Overall: I think I'll take a hit on my oppies and exit stage left.

[Nitaa]

Interesting post. Yes i agree with your thoughts on TR especially. However as sharholders we have and continue to let him get away with it. He has very little to offer apart from his best attibute and that is to prevent takeovers (if he wants to)

Im sure others will report soon but i was also hoping to see what their game plan is. Starting to sound very similar to Brent King and Viking. No clear direction and more hoping something good will fall in his lap. early days with DS though.

in a nutshell.. the dead wood needs to go and it will be up to the shareholders to get rid of them.

[arjay]

How did the vote on increasing Directors fees go? I would be dissapointed if, after telling shareholders that divies for them were out of the question until the CO repays debt, shareholders then went ahead and approved incresed payouts to Directors.

[shane_m]

I have voted yes, give that man a pay rise!!! he deserves one.

Not a holder anymore though.

[Wiremu]

Kropotkin,

I don't know whether you were at the same meeting as me, but there were sausage rolls left over when I left.

And you couldn't be more wrong about Ray Meyer. Try dean of engineering at the University of Auckland, rather than used car salesman.

[Kropotkin]

How did the vote on increasing Directors fees go? I would be dissapointed if, after telling shareholders that divies for them were out of the question until the CO repays debt, shareholders then went ahead and approved incresed payouts to Directors.

funny you should mention that..lambs to the slaughter with a few dissenters.

but in principle i agree with no divvy at the mo - shasta explained it much better than I ever can...

Kropotkin,
I don't know whether you were at the same meeting as me, but there were sausage rolls left over when I left.
And you couldn't be more wrong about Ray Meyer. Try dean of engineering at the University of Auckland, rather than used car salesman.

serves me right for leaving early haha

Meyer could have all the degrees in the world. Hell, he could be the Queen of Sheba. My impression (uninformed as it may be) is an of another stuffed shirt (big brained he may be) riding on the NZOG gravy train. I said he was smug not stupid.

[duncan macgregor]

funny you should mention that..lambs to the slaughter with a few dissenters.

but in principle i agree with no divvy at the mo - shasta explained it much better than I ever can...



serves me right for leaving early haha

Meyer could have all the degrees in the world. Hell, he could be the Queen of Sheba. My impression (uninformed as it may be) is an of another stuffed shirt (big brained he may be) riding on the NZOG gravy train. I said he was smug not stupid.

The gravy train lasts until it runs out of oil or the gullable wake up to what is going on which ever comes first. I woke up to that halfway through the 2006 AGM got to the nearest ph and sold the lot. TR was bleeding the company then, nothing seems to have changed. they still treat the shareholders with the contempt they deserve. Macdunk