NZ Oil & Gas (NZO)

[digger]

ACC reported to be facing a one billion dollar shortfall.Maybe ACC will have to sell its NZO holding of i think about 16 million shares or there abouts.Just something to watch.National might very well take a look at their sharemarket holdings to fund this billion dollar hole.
Actually i have never understood what they are doing in the market in the first place.Certainly ACC was never set up to play in the market.
Digger

[winner69]

ACC reported to be facing a one billion dollar shortfall.Maybe ACC will have to sell its NZO holding of i think about 16 million shares or there abouts.Just something to watch.National might very well take a look at their sharemarket holdings to fund this billion dollar hole.
Actually i have never understood what they are doing in the market in the first place.Certainly ACC was never set up to play in the market.
Digger

Even if they sold everything tomorrow they would still have a billion dollar hole in thier provisions

[Major von Tempsky]

Contract ACC out to private insurance companies - wasn't that in National's manifesto?
It's just been a feeding trough for tired Labour Party supporters and bureaucrats.

[the machine]

although not a labor party voter in australia, amseeing signs of how the rudd labor government is talking funny money and expect it will only get worse.

ACC seem to be have deprived of revenue, otherwise would not have the shortfall - one can only ask where have the funds gone?

answerr labor party funny money and looks like coming home to roost.

M

[macduffy]

I don't know if it has been reported previously here but at last week's Beach Petroleum AGM, a chart was produced showing shareprices of various Aust O&G companies as a percentage of their 52 week highs.
ORG and QGC were tops, in the 80 - 90% area from memory and these of course have been subject to M&A activity.
NZO was 3rd of 14 companies at 69% of the 52 week high.
(BPT was at 52%, Tui's big producer AWE was 48% and the average was 47%).

A pretty good effort by NZO, IMO.

[Merseyredboy]

The ACC has been underfunded by the level of appropriation not being increased to meet the rising costs of the medical provision. Also the unfunded liabilities are factored against bond rates so as the bond rates decrease the liability increases. result give the ACC more money to buy more NZO's

[fish]

For week -ending 28/11/08 Tui oil was only fetching nz $92.46 . This week looks like being less than $90 and production is falling .
Fortunately mitigating factors for sp -fall in nz dollar not only boosts nzo earnings but significantly increases the value of us cash reserves plus fall in interest rates is a relief in so many ways (particularly for those of us who borrowed for option conversion ).
Does anyone know if the price nzo will be getting for kupe lpg is based on us or nz dollar?

[Bilo]

For week -ending 28/11/08 Tui oil was only fetching nz $92.46 . This week looks like being less than $90 and production is falling .
Fortunately mitigating factors for sp -fall in nz dollar not only boosts nzo earnings but significantly increases the value of us cash reserves plus fall in interest rates is a relief in so many ways (particularly for those of us who borrowed for option conversion ).
Does anyone know if the price nzo will be getting for kupe lpg is based on us or nz dollar?

Fish I am becoming very pleased that production is falling. IMO it is a great time to do some maintenance, shut Umuroa down in January and fix up the water handling capacity. There is little hope that reserves will be replaced at less than USD50 per barrel so leave the oil in the ground for bit. If every non USD country did that the the price would move back towards a sustainable level - the US coys aren't working overtime pumping their own oil at these prices. Silly to expect OPEC to do all the cutting on their own.

It will cost US dollars to replace the producing wells so don't be fooled by the NZD returns.

[the machine]

dec 17 opec meeting if it delivers 1m/day reduction will hopefully boost poo

M

[Dr_Who]

Merrill forecast oil to drop to $25bbl.