NZ Oil & Gas (NZO)

[peterfindlay]

[QUOTE=mattyroo;276477]Article in today's PNN...

The broker said that while its valuation of NZOG’s existing assets remained unchanged at $NZ1.88 ($A1.55) per share, the results of the four-well program could either cut this by up to NZ50c or add up to $2 per share. Shares of the dual-listed company are currently trading on the ASX at about $A1.45 and on the NZX at about $NZ1.74.

This is incorrectly quoted. The potential downside was stated as 5c a share, not 50c.

[COLIN]

[QUOTE=peterfindlay;276667]

Article in today's PNN...

Peter: I'm racking my poor brain as to what PNN stands for? Palmerston North News?

[COLIN]

Thanks Chris for replying so quickly. I am aware what you stated but it really does not give the info exactally as i seek it,or as it must be post successful election.So by law only Mr Dick and Mr Grogan can release this info. .Mr Dicks long term invester statement could well mean an invester using someone elses money,and Mr Grogan needs some numbers to guage the level of what he sees as large.This also needs to clarfy if it is personal committment or on behalf of clients. But thanks anyways.

Digger: I believe you have raised a fair point; it would be helpful to know the extent to which candidates aspiring to Board seats have "skin in the game" as it were. One can always check the register, of course, which is a public document, but that involves trouble and expense, and would not necessarily reveal the full story, e.g. it would not reveal shares held via nominees, or other companies etc.

As to the NZO situation: I have voted for the existing Directors ("Better the devil you know", etc!). From what I can piece together of the new names that have come forward I don't see much that would necessarily equip them for the task in hand. That being said, I do like to see people "having a go" as I believe there is too much "Board self-perpetuation" in publicly listed companies - existing Board members often tend to bring in people of their own ilk who will be tame, and compliant with the existing culture, when sometimes a good shake-up would be better. But, don't rock the boat just for the mere sake of it.

[fabs]

Ahmm,
Share prices of NZOG,PPP and PRC all raising leading up to AGMs, hope they can sustain those levels after, without significant other news.

[Nitaa]

In all of this i see iit as a simple analysis In order to be voted onto the board he needs to sell himself. If he is decides to surround himself with secrecy then shareholders will vote accordingly. Clearly he is struggling in this department.

I see very little on what he has achieved, what his goals are etc.

discl. he wont get my vote

[peterfindlay]

[QUOTE=COLIN;276682]

Peter: I'm racking my poor brain as to what PNN stands for? Palmerston North News?

Petroleum News. The key point to remember is that McDouall Stuart (MS) have prepared and produced the research. PNN have merely reported it. The MS research is consistent with, and builds on, the earlier work prepared by Forsyth Barr, that again highlighted the significant potential upside associated with the upcoming drilling programme. The market unequivocally likes what it is had heard, effectively endorsing the analysis of Forsyth Barr & McDouall Stuart. McDouall Stuart have consistently produced well thought out reasoning associated with their analysis of NZOG.

Kupe, through reserve reassessment, and earlier than signalled commercial production, could provide additional upside to the SP, as could the equity investment in Pike River Coal.

[COLIN]

Petroleum News. The key point to remember is that McDouall Stuart (MS) have prepared and produced the research. PNN have merely reported it. The MS research is consistent with, and builds on, the earlier work prepared by Forsyth Barr, that again highlighted the significant potential upside associated with the upcoming drilling programme. The market unequivocally likes what it is had heard, effectively endorsing the analysis of Forsyth Barr & McDouall Stuart. McDouall Stuart have consistently produced well thought out reasoning associated with their analysis of NZOG.

Kupe, through reserve reassessment, and earlier than signalled commercial production, could provide additional upside to the SP, as could the equity investment in Pike River Coal.

Thanks, Peter. Sound points.

[digger]

Tonight i finally got a reply to my email to Paul Grogan sent last thursday.To his credit he does have a long history in the oil investing market and we both had shares in old Southern Pet way back in ages gone now.
I sent him back another email tonight saying i would not be supporting his bid for what is really several reason but first because i do not in the slightest support NZO fooling around with our money on derivatives. About 1.6 US trillion in writedowns and losses have already occurred by experts thinking they know what they are doing so in no way could i support this. I would argue with GOD against NZO using derivatives.
Paul Grogan's point that NZO was slow to take out PPP is hindsight.I alone on sharetrader it seems have bragging rights to critise NZO action and i am not complaining. This is so as i increased my holding exactally when others are saying NZO should have.Now in hindsight i should have done so even more. But how was i to know that PPPV would strike oil.How was NZO to know? Hindsight.
Pauls comments about how much money we lost on leaving money in US dollars is sadly correct and well documented and discussed here many times.Again i have to say hindsight as i do not know of any public forum where Paul put forward these views when the dollar was back at 50 cents and John Keys telling us it would fall to the mid 40's. Prior to this last 6 months we made money on foreign exchange. This is like the Dairy company years ago.Made heaps for a few years then lost all of it and more in subjent times plus paying the experts for losing money. We do not want to go there.
I did not get much of a reply from Mr Grogan as to attending and addressing past AGM's and or sharing his views about NZO in public forums.Putting forward your views prior to history running its coa-rse is not always a wise thing going by some of the corners i have painted myself into,but keeping silent until history is fact does allow you to be 100% correct.Hence most of Pauls letter uses the advantage of hingsight and the only future he is pushing is not my choosing.
On another matter i do not know a thing about Mr Dick,except what is on his nomination form.Received no emails or any form of info.

[friedegg]

boy digger you certainly looked into it! i just ticked the "no vote part" cause it said the board didnt approve of them..i did tick the going to the pressy at waipuna stadium, so does anyone know if sausage rolls and drinks are provided at the pressy or is it just at the grand agm in welly?

[Casa del Energia]

Who really understands derivatives - Huh? And wouldn't you rather your surgeon had full comprehension of surgical techniques rather than derivatives. Ditto - I feel comfortable with an oil company concentrating on geology rather than abstract financial instruments.
There is nothing wrong with concentrating on the knitting.