NZ Oil & Gas (NZO)

[geezy]

I must admit, Krop's post did shake me a lil, with such good products but so little movement in share price, is lookin grim (even with Oil prices) up .

Starting to have (more) doubts about the whole management group now.

Might sell on strength instead of thinkin long term. :/

[Mick100]

first positive - the oil price is over $90

second positive - David S commented that he was very pleased with talent of the new people that he has bought into the NZO team in an environment in which good people are hard to get
The way forward, as DS sees it, is through exploration in the taranaki area - lets see if their luck with the drill bit improves

third positive - there was an unlimited supply of sausage roles

forth positive - it was a nice day in wellington

those who didn't make it didn't miss out on any new info - there was nothing reported that was not already known to the public.
,

[sideline]

Mick, did they say anything about the hedging, i.e. the calls and their expiry? (We know that
the puts run to 2010).

[Mick100]

Mick, did they say anything about the hedging, i.e. the calls and their expiry? (We know that
the puts run to 2010).

Yes - TR gave quite a good explanation of the situation regarding hedging

Firstly, the calls were taken out to help pay the premium on the puts - ie NZO got paid for the calls which covered some of the cost of buying the puts - a wise move at the time IMO

As it turns out the puts are very unlikely to be exercised (unless oil falls below $50/bbl) however the calls that NZO sold look as though they will be exercised - some of them anyway (TR did say that no calls have been exercised so far, so obviously NZO have not sold oil for a price in excess of the call price which I thought was $85)
The good news is that the remaining calls add up to 100,000 bbls over the next three years. Even if oil prices continue increasing then only around 10% of the next three yrs production will have to be sold at the call price.

So absolutely no problems with hedging in my opinion
.

[duncan macgregor]

Having not gone to the meeting and listening to all the unanswered questions on this forum i presume the meeting was a raging success. I left halfway through the previous meeting and sold the lot knowing that management had greed and utter contempt for the shareholders. Listening to the people so far that have gone to this years Agm i notice a change of attitude by some of the brainwashed. Some of them i presume voted for management to get over the top wage rises. DID ANYONE STAND UP AND CALL THEM A BUNCH OF GREEDY BASTARDS. I would say not, so you lot can pay the piper, you deserve to hire him. Mick 100 states nothing new that wasnt known before at the meeting, which makes it a raging success against open disclosure. All the unanswered questions by a bunch of wimps who come home knowing nothing new about what their hard earned investment dollar is up to. The only hope you lot have is an increased sp, before you get out, the management will play for time. Macdunk

[Onthemoney]

I must admit, Krop's post did shake me a lil, with such good products but so little movement in share price, is lookin grim (even with Oil prices) up .

Starting to have (more) doubts about the whole management group now.

Might sell on strength instead of thinkin long term. :/

As a shareholder on and off in this company for most of its life, be very wary. I too was warned many years ago by my peers and later on posters on this site about investing in this company and the lack of respect for its owners the shareholders.

I stood up for it but in later years have changed my tune when I realised why the price reacts why it does. Be very aware and wary!!!!

As an aside you do not want this company to be paying divis until they accumulate imputation credits.

[Onthemoney]

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

Yeah I have wondered about TR and saw Salisbury and thought great. But am now wondering how far TRs hand is up his rear to control the puppet as he seems to be re-enacting some of the comments of the 90s.

[shane_m]

give TR a break guys, he deserves a pay rise. definitely worth more than 2k a day.

I would be more worried about the oil spill, and clean up cost. hence I got out after reading the oil spill ann two times.

[Onthemoney]

give TR a break guys, he deserves a pay rise. definitely worth more than 2k a day.

Great stuff - definitely deserves a rise look at his performance over the past 2 decades... I wouldn't turn up for less than 2k a day....

[shasta]

first positive - the oil price is over $90

second positive - David S commented that he was very pleased with talent of the new people that he has bought into the NZO team in an environment in which good people are hard to get
The way forward, as DS sees it, is through exploration in the taranaki area - lets see if their luck with the drill bit improves

third positive - there was an unlimited supply of sausage roles

forth positive - it was a nice day in wellington

those who didn't make it didn't miss out on any new info - there was nothing reported that was not already known to the public.
,

Must have some incredible talent there now, who edged me out of the Finance job there for a start? :mad:

Could have sorted the PR in me lunchtime

Nice to see someone focus on the positives from the meeting.

Why on earth people are expecting a company that 6 months ago was technically still an "explorer", & 4 months after first oil, is now a mature dividend paying producer, is just plain crazy!

TR stepped down as he said he would, so lets not be having a go at him personally.

Like it or not, NZO have finally delivered & had TR not fought tooth & nail against GPG (?) in the early days, NZO wouldnt be around today...

Granted the market hasn't woken up to NZO yet, good i say.

Those that don't like the setup....exit stage left, right even!

Those that believe in NZO & it's future - it's a cheap producer & not without risk, look back in 2 years time & see how far we've come.

Lets look back at the years highlights...

1. Tui first oil - Discovery to production in around 4 years (& the fastest payback period?)

2. Pike River "PRC" - Dual listed (not without delays & cashflow problems)

3. Kupe - Finance sorted, gas sale contract altered, drilling program ahead

4. New Management (TR stepping down) - new era?

5. Put/Call options - smart play by NZO, limiting the downside & now sitting pretty with the POO.

Wish i could have been there today, but alas work committments...