NZ Oil & Gas (NZO)

[Ripping]

.....These idiots on Fast Talk are forecasting a one day 1000 point rally. That I would like to see!!

you saw that then ?

[bermuda]

you saw that then ?

It could only happen in the USA! Frightening eh? I see Goldman Sachs are now talking about $50 oil. I cant see that either. That is why it is so frightening.

The Saudi's have already pulled back on their November shipments. Unchartered waters ahead. I cant pick it but it doesnt feel good.

At least NZO are rolling it in and the exchange rate helps. Roll on Pike and Kupe.

[Ripping]

It could only happen in the USA! Frightening eh? I see Goldman Sachs are now talking about $50 oil. I cant see that either. That is why it is so frightening.

The Saudi's have already pulled back on their November shipments. Unchartered waters ahead. I cant pick it but it doesnt feel good.

At least NZO are rolling it in and the exchange rate helps. Roll on Pike and Kupe.

And then this afternoon on CNBC.. someone is back on the $150 bbl. bandwagon. I can't pick it either, but I'm still more inclined to stay with the upside predictions. The fall in stockmarkets appears to have been arrested, along with the $/bbl of oil. A slow and steady rise for both is what I'm backing.
I'm not doing as well as i was doing in the middle of the year, but this is a great sport to watch. I'm having a ball.!!

[Nitaa]

At this rate its harder to pick than a broken nose. What i am sure of is that any weakness will make life difficult for companies trying to raise capital for exploration. The environment is only making it stronger for the big players like exon shell etc.

I have a seriopus problem with resolution 6,7 and 8
At a time where shareholders have lost money since the conversion i do not think its appropriate to reward directors at this stage. At a time where fat cats are being looked after and recognised as such in the face of tough economic conditions, its time for the board to recognise the capital and risk many investors are placing in such times.

As it is, the employee share plan and other benefits need a serious look at and not just throw money while the average investor suffers during these hard times. Lets not forget that Tony Radford has his nest egg looked well and truly after even when he retires. He will still get a pension (and a healthy one) irrespective of the performance of the companies he had control over.

I will be voting for a resounding no in favour of any increases. Show us the money first before asking for extra pocket money frojm investors who have forked out $190m this year and have since had their shares depreciate around $80m

[digger]

At this rate its harder to pick than a broken nose. What i am sure of is that any weakness will make life difficult for companies trying to raise capital for exploration. The environment is only making it stronger for the big players like exon shell etc.

I have a seriopus problem with resolution 6,7 and 8
At a time where shareholders have lost money since the conversion i do not think its appropriate to reward directors at this stage. At a time where fat cats are being looked after and recognised as such in the face of tough economic conditions, its time for the board to recognise the capital and risk many investors are placing in such times.

As it is, the employee share plan and other benefits need a serious look at and not just throw money while the average investor suffers during these hard times. Lets not forget that Tony Radford has his nest egg looked well and truly after even when he retires. He will still get a pension (and a healthy one) irrespective of the performance of the companies he had control over.

I will be voting for a resounding no in favour of any increases. Show us the money first before asking for extra pocket money frojm investors who have forked out $190m this year and have since had their shares depreciate around $80m

Your on to it Nita. As of last year i said i would no longer vote the automatic way and just go along with whatever the directors put forward.It is well past time the shareholders made an agreement with the CEO and directors over who gets what. This is now more important than before as we clearly have money up for grabs.That wealth should be shared and we are increasingly getting a number of Johnny come latelys that until monies started flowing had no interest in the company who now are setting themselves up to call the shots. So i am no longer agreeing to anything until a wealth sharing agreement is reached with directors. For a start and before any more monies are thrown at staff we need a clear minium dividend policy paid twice yearly put in place for the benifit of all. Director and staff benifits have to be tied back to the success of the average holder .It is the independence of CEO and director benifits that is largly responsible for the current finanical mess the world is now in. Time to change all that.

[Unicorn]

I have a serious problem with resolution 6,7 and 8
At a time where shareholders have lost money since the conversion i do not think its appropriate to reward directors at this stage.

I disagree with that point. We need to look at how well the directors have performed over the whole year, allowing for external factors that are outside their control. Returns to shareholders over the year are a much better guide than what may have happened in a single quarter.

At present shareholders are looking at about a 35% return for the year, being the share price growth plus the dividends paid. To me that indicates a directors pool increase from $295k to up to $400k may be justified - no more than that based on what has been delivered. This may change over the next couple of weeks, as the market is extremely volatile at present.

The notice of meeting may appear to be rather disappointing, as nearly all of it addresses management interests, and none of it directly addresses shareholders interests. But that is the nature of this type of document - the balance is normally addressed at the AGM itself, when announcements benefiting shareholders are more usually announced. Dividend policy is something that would normally be covered at an AGM, rather via a resolution.

[Nitaa]

Interesting point Unicorn. On the provision that any drop in shareprice for each year is directly related in proportion of their fees. 2 edge sword that if you dont give incentive then you dont get quality directors. I think you will find it an anomoly to see directors proposing a cut in their fees due to a 12 month decline in company performance.

In short, show me the performance and then pay accordingly.

[temptation]

Oh come off it Nita, the company is doing great things which is why we're still shareholders. The carnage on financial markets isn't the fault of anyone at NZO (or anyone in NZ)!

[Nitaa]

Oh come off it Nita, the company is doing great things which is why we're still shareholders. The carnage on financial markets isn't the fault of anyone at NZO (or anyone in NZ)!

Maybe its taken the wrong way. My point is reward where its due and reward accordingly. I see HGD directors gave themselves an increase but how is it justified? Yes nzo has done remarkebly well over the years. Remember many of these directors still got paid and increases whilst the rest of the shareholders spent decades going nowhere. Whats reasonable? Thats up for debate but what has happened recently imo is a good reminder that the company's first and foremost responsbility is to look after the shareholders. When this is happening then the spoils can be shared around in a proportionately fair manner.

[fish]

In short, show me the performance and then pay accordingly.[/QUOTE]

Absolutely agree Nita -but dont under-estimate the directors-

I have a feeling that we will fully see the extent of that performance soon .
Investing -?60 million in us dollars could show a 25% currency gain
First coal at PRC-and we will be reminded that $300 ton = $500 nz
Tui production and nz dollars way above predictions for 1st Quarter
? more investment decisions in nz
? a buyback
? a rebound in share and commodity prices when investors realise the world economy isnt going to recede but is going to grow in the future.
Lower interest rates are coming which will push up the sp .

It would not surprise me if the nzo sp rises quickly in the next 2 weeks before the AGM