NZ Oil & Gas (NZO)

[upside_umop]

They are essentially swapping their cash, for cash in PPP.

Then on top of that, NZOG get more stake in TUI and the surrounding areas...

If they eventually take them over, which I believe they will try and do...it will cost them maybe $30-40 million dollar net...if that. We're getting a good deal over at PPP, but so are you guys...

I have my order in for 40 cents.

[fabs]

Correction, more like 12 Million.

[macduffy]

How big (%) is a strategic stake ?

With PPP directors holding in excess of 20% and an "alliance" with NZO in the person of the chairman, I would think that a strategic stake is pretty well there already.
NZO can buy up to 15% without FIRB approval so I'd expect them to aim for that unless the market runs away.

[friedegg]

brilliant i love it!!! theyre going to get this company cheaply and easily i think
they sold a lot back then at 26c and are paying more now
but ppp didnt have all that cash in the bank back then did they?

[Sehnsucht888]

Dominion this morning commetns that they need approval to buy more than 15%. But it also says they have applied for approval to buy more than 15%....

[Sehnsucht888]

"NZOG would not say how much of Pan Pac it wanted to buy but said it would need Foreign Investment Review Board approval to buy more than 15 per cent ironic when Pan Pac's main assets are its 10 per cent stake in Tui and about $150 million in cash holdings from Tui profits.

NZOG has already applied for review board approval. To buy more than 19.9 per cent, NZOG would need to make a full takeover."

http://www.stuff.co.nz/4796368a13.html


My concern is that if they don't go for a takeover, what is it going to do for liquidity of the share...

[digger]

"NZOG would not say how much of Pan Pac it wanted to buy but said it would need Foreign Investment Review Board approval to buy more than 15 per cent ironic when Pan Pac's main assets are its 10 per cent stake in Tui and about $150 million in cash holdings from Tui profits.

NZOG has already applied for review board approval. To buy more than 19.9 per cent, NZOG would need to make a full takeover."

http://www.stuff.co.nz/4796368a13.html


My concern is that if they don't go for a takeover, what is it going to do for liquidity of the share...

Each of us has to make up their own minds on the to sell or not to sell,that is the question sort of thing. If your in some finanical striff then sell to solve the bigger problem. I have just over 2 million of these fellows but will gamble on a full eventual takeover. Please note now that anyone following this as advice no not do so but think out your own position,as a full takeover is not currently on the the drawing boards and in fact may never happen.
Having covered my butt i will now say my thinking.
1/ Montana Wines was eventually fully taken out some years ago and i was the last to sell making me a very very tidy profit. My waiting it out was against everyone else's advice except my own.
2/ So far as of this very minute the only director release has been to increase holding. Always an interesting sign
3/ Nog taking out PPP in these very depressed times is money for jam. It is logical and will make for a better and bigger company and certainly buying into there best experience.Top marks to the directors for moving in this direction.
4/Cost to NZO will be miminual as PPP fully taken out almost funds inself with 150 million in the bank to start with.Also NZO buying more of the under rated TUI field which in time will be realised.


I will wait for a full takeover offer.Here i want a scrip based favourable exchange.
To sell or not to sell---that is your choice.
Cheers Digger

[Casa del Energia]

Each of us has to make up their own minds on the to sell or not to sell,that is the question sort of thing. If your in some finanical striff then sell to so..............

...... I will wait for a full takeover offer.Here i want a scrip based favourable exchange.
To sell or not to sell---that is your choice.
Cheers Digger

I think you may well be right. Otherwise - there is not much point to the whole excercise. (?)

[da puntzda]

so digger will you be buying more at this level?

interesting number of large trades in NZO itself today - pretty regular - in 250k or 500k blocks

[croesus]

Has anybody recently worked out the cash value ( ie banked money from Rts Issue, and Tui Oil) behind each NZO share.

Just Cash, not projected value of PRC or Kupe.

Also what financial commitments from NZO to finishing Kupe and PRC. ?

Thanks.
Croesus.
p/s Digger good for you to have the foresight to accumulate 2 mill .. PPP.