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30-10-2009, 02:44 PM
#8551
Member
Hoki delayed to Feb 2010
Originally Posted by manxman
Back on Planet Earth the Kan Tan IV is struggling with a stuck casing on Trefoil-2, which means at least a fortnight's delay in the Taranaki program. We'll be lucky to spud this year now.
NZOG said on wednesday....
Hoki is currently expected to spud in January 2010
Just out in the PPP announcement today...
The Tui Area Joint Venture (JV) has secured the services of the semi-submersible drilling rig Kan Tan IV to drill at least two near field exploration wells, with the earliest spud date of February 2010 on the current rig schedule.
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30-10-2009, 05:44 PM
#8552
Originally Posted by shasta
My post on page 545 shows NZO had $US90m at the time!!!!!
They have never needed that much, & how much interest would NZO have made from those funds (when interest rates were much higher) on around $NZ140m, @ say 5% there's $7m before tax for doing nothing!
Unless they were seriously looking at overseas aqusitions or other overseas ventures.
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01-11-2009, 08:03 AM
#8553
Well i finally got home from the Wellington AGM plus a bit of time to put things back together here on the farm. This AGM was like no other. Firstly i spoke to all the directors except Paul Foley who seem to be always busy.After this meetings i go away feeling more informed and more confident about our near future.
The directors have a higher likely hood of success in the coming drilling program than i was prepared to hope for but in the end as Unicorn says if it is dry it is dry and the odds stacked prior mean nothing. I did thank the directors at the meeting for the success in the past year and only regret is that i forget to also comment on the achievment of a Shares in lue of Dividend scheme.A 40% increase in shareprice since the 2008 AGM speaks for itself especially when few companies here in NZ or worldwide will be able to boast better.
I have some mixed concerns about our foreign exchange policy but did not comment on it as it was Paul Grogan's thing and i did not want to associate it with the way he was putting the case,which i found conforntationally and in hindsight. Frankly i have read many things about the US dollar lately and there is just as strong an arguement that it is in for a sudden correction upwards as downwards. The NZ dollar is high for reasons that are beyond me but suspect it will correct back..
Also true that whatever we pay for has to be in US dollars as does an acquisition if it eventuates,so there was a very good reason for doing what the director did. If i were to have brought up a point at the AGM about this matter it would have been along the lines that things are not looking normal anymore. By that i mean the US seems to be weaking as the worlds reserve currency and little NZ and smaller NZO will get pushed aside in any world shift. Maybe we should start putting some money in the Euro.
Again to the directors thanks for a very good year and also best of the best for a successful new year drilling program.
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01-11-2009, 08:04 PM
#8554
Member
Digger
Congratulations only being the only person who spoke at the AGM and got a loud round of applause. I noticed most of the board were also clapping after your comments.
I hd also noted that David Scoffam appeared to be very hopefull of a good outcome from Albacore (I hope he is right)
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04-11-2009, 02:20 PM
#8555
Can anybody post the latest Article in The Headliner 29.10.09. VOLUME 31 NO 4 Re: NEGATIVE VIBES FROM VIETNAM?
Seems there was a pefect Window [ AUGUST -SEPT] to make QUITE A BIT OF MONEY
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04-11-2009, 06:01 PM
#8556
cheers digger for your efforts..been a holder for 20 + years..hate the technical stuff.
cheers..am indebted.
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04-11-2009, 07:13 PM
#8557
Member
Originally Posted by troyvdh
cheers digger for your efforts..been a holder for 20 + years..hate the technical stuff.
cheers..am indebted.
20 plus years?is that the buy and hold till ya die method
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04-11-2009, 07:29 PM
#8558
...dear fred....how many dollars do you have in the sharemarket and for how long...then I will respond...cheers...
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05-11-2009, 09:20 AM
#8559
Originally Posted by friedegg
20 plus years?is that the buy and hold till ya die method
Another way of putting the 20 year+ hold is to call it the Warren Buffett method.The method thats the only one to lead to the world's richest man.The secert is to get the right company.Here on sharetrader we have been over this many times but to me the trading method implies you are smart enought to beat the market,and concieted enought to believe it.
As i am sure many of you now know yesterday Warren Buffett invested 26 billion buying a railway in the US. This is on theoildrum.com for thoses interested.This investment says essentually that Warren is a Peak Oiler and he knows that America will come out of the recession but goods and people will increasingly travel by rail as it is more efficient in the use of ever more expensive fuel. Another way of investing in this future that the worlds richest man see is an investment in a good oiler.
So Troyvdh stay with it.This is an achievment not something that needs defending. Those 20 years have not been too bad either. We have had the drill and thrill and three dividends and one PPP give away,plus a share appreciation. We are now also well positioned for growth in the near future.Trading on the other hand has the problem of added risk,constant monorting,cost,and the IRD breathing down your neck. The upcoming 4 drill program is very likely to be successful at least once,so the future could be even more rosey.
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05-11-2009, 10:34 AM
#8560
Member
Originally Posted by troyvdh
...dear fred....how many dollars do you have in the sharemarket and for how long...then I will respond...cheers...
first share i brought was mhi in 1986/87?on debut only because i worked in a little bank in whangarei where they banked and kept them for 10 odd years(thats the longest ive held any),as to how much i have invested in sharemarket now well i will be honest approx $250000 in 2 companies,but dont take that as skiting because i have nothing else in assets except for a few motorbikes,so i guess my investing life hasnt been too great and it also does pay to stick with the same woman all your life unlike me who has split everything in half 3 times
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