NZ Oil & Gas (NZO)

[Wiremu]

Macdunc,

Is there a union of those who attend annual meetings and walk out half way through that you feel bound to answer for Kropo and in doing so repeat your great disappearing act of 2006 yet once more?

As for the reality of what's going on - I think Shasta has summed it up well:

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.

[Nitaa]

Bit unfair on Kropotkin are some of you.

He has given his/her opinion and i most agree. As long as he/she doesnt play the smae record day after day then i am not sure what the problem is.

In all fairness i was unable to attend the AGM so i am have got some things wrong here.

Since most of us are shareholders here, how do you feel if money is easily given away through ESOP or through consultancy work (which can be a away to write your own cheque).

To me i have no problem with the way the company has deveopled ove rthe last couple of years. Cost blowouts are par for the course and will continue to be so. What i dont like is the way that the ESOP, other perks, consultancy work (not only to TR) is given out. Like it or not there is a lack of transparency. I hope i am wrong but Kropotkin looks to be pretty much OTM. If you disagree with his comments then lets debate what the issues are.

Feel very dissapointed now and one thing i do agree with DM is some are becoming blinded by reality.

[shasta]

Bit unfair on Kropotkin are some of you.

He has given his/her opinion and i most agree. As long as he/she doesnt play the smae record day after day then i am not sure what the problem is.

In all fairness i was unable to attend the AGM so i am have got some things wrong here.

Since most of us are shareholders here, how do you feel if money is easily given away through ESOP or through consultancy work (which can be a away to write your own cheque).

To me i have no problem with the way the company has deveopled ove rthe last couple of years. Cost blowouts are par for the course and will continue to be so. What i dont like is the way that the ESOP, other perks, consultancy work (not only to TR) is given out. Like it or not there is a lack of transparency. I hope i am wrong but Kropotkin looks to be pretty much OTM. If you disagree with his comments then lets debate what the issues are.

Feel very dissapointed now and one thing i do agree with DM is some are becoming blinded by reality.

I agree Nita

Krotopkin/Macdunk & others (not "Unbalanced" though) are allowed there pessimistic view on NZO, so long as it contains "factual" points & not ex - shareholder sour grapes, continually looking back into the past!

Whilst i'm optimistic about NZO's future, i'm fully aware of the inherent risks, ie, delays & costs blow outs etc...

BUT then, delays & costs blowouts are industry wide & all explorers/producers succumb to them, else get "lucky" to avoid them.

IMO, The biggest risk at present in the O&G game is securing drilling rigs for future exploration at "reasonable" costs.

In this regard NZO have done well, & have the drill here for the Kupe tie in gas prospects.

The O&G industry isn't for the risk intolerant, but can have HUGE upside on finding new commercial discoveries...

[Kropotkin]

Thank you Nita + Shasta.
I'm glad you support my right to hold That I clearly stated was a personal opinion.

In no post have I said that NZOG does not have massive potential. What I have been clear on is my gut feeling for the men at the top.
If don't have a good feel for a company I wont invest - simple as that.
I intend to downsell based purely on this impression (not at all based on fundamentals) but by no means intend be to be a future "sour-graper".

Wiremu - I suggest you read the posts and hold a little less dogmatic viewpoint. It's tiresome.
For the record, I voted for the Salisbury's reappointment, abstained from the others, and voted against any additional remuneration - both for non-exec raise and employee option schemes.

[tim23]

I think you are confused; one minute you own the stock next minute you don't, why did you buy in the 1st place if you did your management assessment??

Duncan - can you tell us again about your experience at last years AGM; you will have RSI at the rate you rattle on - you are simply boring.

[bermuda]

Thank you Nita + Shasta.
I'm glad you support my right to hold That I clearly stated was a personal opinion.

In no post have I said that NZOG does not have massive potential. What I have been clear on is my gut feeling for the men at the top.
If don't have a good feel for a company I wont invest - simple as that.
I intend to downsell based purely on this impression (not at all based on fundamentals) but by no means intend be to be a future "sour-graper".

Wiremu - I suggest you read the posts and hold a little less dogmatic viewpoint. It's tiresome.
For the record, I voted for the Salisbury's reappointment, abstained from the others, and voted against any additional remuneration - both for non-exec raise and employee option schemes.

Regarding your comment about Ray Meyer ( a very talented man)

Probably what you meant to say was

" I shouldn't judge a book by its cover"

[Nitaa]

Could some who were at the AGM report on the positives or new information that we were not already on about. Perhaps by recent AGM's this one may have been a little flat. In the past there has been quite a bit of hype but often has been filled with a few dissapointments. Maybe this time around no real promises but a few nice surprises in store.

Was there any mention on how NZO hope to get the op's over the line? On a seperate not it is mentioned that DS said that they may have to go to the market for funding (for aquisition). this means that in the next 12 months or so we can expect further dilution. That is of concern to me.

I have already expressed my dissapointment on the AGM report and the feedback so far. I have yet to hear any poster say what it is that is going to propel this company to the next level. DS has left this area to general to convince me that he has a solid road map to get to his target. So where is the road map?

Been a holder for 4 plus years and have done reasonably well out of this stock. Plenty of potential ahead with some direction but no plan.. Time to sell.. Very soon for me imo. The only thing holding me in is the Kupe potential with possible explorations close to Tui.

[shasta]

Could some who were at the AGM report on the positives or new information that we were not already on about. Perhaps by recent AGM's this one may have been a little flat. In the past there has been quite a bit of hype but often has been filled with a few dissapointments. Maybe this time around no real promises but a few nice surprises in store.

Was there any mention on how NZO hope to get the op's over the line? On a seperate not it is mentioned that DS said that they may have to go to the market for funding (for aquisition). this means that in the next 12 months or so we can expect further dilution. That is of concern to me.

I have already expressed my dissapointment on the AGM report and the feedback so far. I have yet to hear any poster say what it is that is going to propel this company to the next level. DS has left this area to general to convince me that he has a solid road map to get to his target. So where is the road map?

Been a holder for 4 plus years and have done reasonably well out of this stock. Plenty of potential ahead with some direction but no plan.. Time to sell.. Very soon for me imo. The only thing holding me in is the Kupe potential with possible explorations close to Tui.

Nita

I did write a longish reply, but the site didnt like it & i lost it.

DS has stated as a priority to get the options converted & i believe its crucial for NZO's future success they do get it.

Go back & read from page 94, Boysy (among others) had a good summary of how NZO will get there.

[Mick100]

Nita

The meeting was a fairly dreary, ho-hum affair - nothing was discussed that you are not already aware of
Not sure if people know - it sounds as though pike will be sold off once it's up and running
The company is going to focus on near field exploration in taranaki

nothing really to report

I have found that sometimes the best thing to do in a situation, as we find ourselves in with NZO at the moment, is to do nothing at all
I certainly won't be buying more shares but I'm not selling either.
.

[Nitaa]

My take on Pike is/was that NZO have been looking to sell Pike for quite some time. If im not mistaken is that NZO have a contract with at least one of the major stakeholder in Pike to see it through to a certain stage. This may have changed or i might have misread the "between the lines" comment a year or so ago.

One thing with NZO is i have more often that not got the short term sp wrong. If i was day trader i would have been killed ages ago. For that reason i will never think that the SP is certain to go a particular way. Ill leave that to the experts like Macdunk, Jo King and co