NZ Oil & Gas (NZO)

[manxman]

There is one very important question I need to ask and maybe someone close to NZO management can answer it.

It is forecast that Tui oil production will decrease substantially from 2009 onwards and gas production will come on stream from 2010. The question is...will the gas production be on schedule to be delivered in 2010? How much gas will be produced in 2010?

Full gas production from Kupe is scheduled for June 2009. The wells are safely drilled, tested and suspended. The undersea and shore crossing pipeline is installed and tested. The onshore construction is well under way. Its hard to see more than a few commissioning hiccups.

Tui production will temporarily increase when the next (TUI-4H) well is drilled some time in 2009, so there really won't be a huge revenue hole. One was forecast but the performance of Tui has been so good that it hardly looks likely to happen.

AWE are talking about some more tie-in prospects for Tui and presumably NZO will be in for 12.5% of anything thats going. The current share price is crazy, but its still in a downtrend so why buy now.

Also Pike River should have a positive cash flow by June 2009, although NZO won't actually see any until 2010, it should reflect in the share price.

The quarterly financials due out next week may start a feeding frenzy.

[Mr Tommy]

If I win lotto powerball this weekend, I will be buying the whole company next week at this rate.

Market Cap currently just 420m, they probably have over 300m in the bank, not totally unreasonable is it ?

[LNR]

I already have the winning ticket for $30 million

[digger]

If I win lotto powerball this weekend, I will be buying the whole company next week at this rate.

Market Cap currently just 420m, they probably have over 300m in the bank, not totally unreasonable is it ?

Get out of here Mr Tommy .You are stealing my plan.My ticket is red hot and ready to be pulled.Like your reasoning though.
Digger

[Sideshow Bob]

My plan is to win lotto and takeover PPP, using funds to takeover NZO!!

**Sideshow Bob wakes up, clutching his $11 useless piece of paper**

[digger]

The finanical mess the western world has got itself into will be given many causes but underlieing all is invester apathy and or a belief in lack of investor empowerment to do anything about the situation.In the US directors and CEO's are walking off with tens on millions and sometimes hunders of millions for stuffing up companies.Their answer to this is that investers have OKed such action by allowing CEO's and directors to write their own contracts.They show AGM resolutions in support of such rights.
This to my knowledge has not happened yet with NZO but i am becoming very interested in keeping honest people honest.To do this we need a loosely formed shareholders council to keep track of where the monies and our future is going.
Accordingly i will be opposing and speaking against resolution 5,6,7 and 8
5---two years to early.Merge closer to home.Not yet ready to take on the world.If we are to believe half of what is in Mr Knight's resume he is too busy to have sufficent time for NZO.
6---Dividend policy needs to be put in place first.
7---as above.Mr Knight should have shown some real interest in NZO before coming on board and bought shares on the open market.
8 --- David has already been given half a million shares and so far has not bought any on market.This sort of attitude is what has got the western world in the mess it is in. Mr Salisbury has on the 16th of Sept explained to me in detail that directors have legally nil opportunity to buy shares as they always have inside info. How convenient. Strange how they can not buy any but can find ways to take all that the shareholders will give them at AGM's. The same power that comes from a AGM to receive free on subsidies shares could easily be extended to allow the right to buy some.Just after the AGM we shold all be in the same boat if all info is properly given.
So i do not accept that our CEO needs another gift.


If we are to make a company for all we how have to make that decision now that the monies are flowing in.Directors perks have to be fixed percentage wise back to invester perks.Failure to to that will very quickly see an erosion wherby directors keep coming back year after year with ever greater stories why all should be theirs for the asking. If we allow that to happen the honest directors we now have[i trust] will by our non committment erode to self centered ones taking all.

My email address is for those interested in supporting this action is.
cboreham@farmside.co.nz
Digger

[Nitaa]

Well Put digger. conversly the average investor ignorance has to be blamed as we cant blame people who ask for a handout or increase. its up to the shareholders to be educated and educate themselves on more in their investments. Unfortunately most will learn the hard way

[fish]

Hi Digger,

With the current shareprice reflecting a big loss for those that converted options I am strongly against the issue of cheap partially paid shares . Under this proposal there is a perverse incentive to keep the share price low for the date of the offer .

However I dont believe $600,000 is too much for 7 High quality well-performing directors . The company has certainly brought to fruition complex projects . They have been careful and diligent with shareholder funds and for this I feel deserve to be rewarded . I would vote for this proposal if I could be sure that shareholders who have risked substantial sums backing these projects are equally rewarded-and frankly a 38cent drop below the option price less a mere 5 cent dividend equals a 33cent loss for those loyal shareholders who converted-and many took out loans to do so .

NZO could do a lot more(with $300 million in the bank ) to ensure the share price reflected the value of this great company .

[airedale]

Digger, my understanding is that directors are legally entitled to buy shares, and are obliged to inform the market when they do so.
There may be some restriction on buying or selling around the timing and reporting of financial info.
But for DS to say that they are not legally entitled sounds like flannel to me.

[digger]

[QUOTE=fish;229089]Hi Digger,

With the current shareprice reflecting a big loss for those that converted options I am strongly against the issue of cheap partially paid shares . Under this proposal there is a perverse incentive to keep the share price low for the date of the offer .

However I dont believe $600,000 is too much for 7 High quality well-performing directors . The company has certainly brought to fruition complex projects . They have been careful and diligent with shareholder funds and for this I feel deserve to be rewarded . I would vote for this proposal if I could be sure that shareholders who have risked substantial sums backing these projects are equally rewarded-and frankly a 38cent drop below the option price less a mere 5 cent dividend equals a 33cent loss for those loyal shareholders who converted-and many took out loans to do so .Quote


Fish that is exactally my point.I also will give this extra 600,000 consideration but only after funds are future proofed for shareholders.Currently they are not,but directors want their share written in regardless. First things first.
Digger