NZ Oil & Gas (NZO)

[BigBob]

And shares about to trade at opening time at an 11 month low.

It's OK with me if it stays at these lows for the next month or so... I'll get more through the DRIP...

[blockhead]

And reading the posts above, the 05c div is satisfactory.

I'm happy with that. It has not slipped my mind that the forex loss is unrealised (could go either way from where it is) and the loss on Pike should be recouped plus on a sale of the PRC investment.

Plenty of room for upside in my mind !!

[777]

My guess is they will be up over the next 5 days trading which will affect you DRP. You would be better to buy on the market today.

[BigBob]

My guess is they will be up over the next 5 days trading which will affect you DRP. You would be better to buy on the market today.

Yes - but I'm a bit short on readies, so here's hoping for a continuation of the irrational market sentiment for a little while longer... :o)

[Arbitrage]

If only the price of oil would increase...

[Mr Tommy]

It has not slipped my mind that the forex loss is unrealised (could go either way from where it is)

NZD dropped below 70c USD this morning, lowest for 7 weeks. Maybe most of the 'unrealised' loss has just evaporated.

[Beagle]

If only the price of oil would increase...

I think oil is at the bottom of its trading range - broadly speaking $70-80 a barrell for some months and is likely to have hit a bottom yesterday. Long term I have a fair bit of time for the peak oil theory and as this company is paying a nice divvy and after what would appear to be some positive news on hydro mining starting at PRC, with NZO's very strong balance sheet, the recently announced increase in Kupe reserves and so on, at $1.19 or thereabouts it must be worth a punt.

[digger]

NZD dropped below 70c USD this morning, lowest for 7 weeks. Maybe most of the 'unrealised' loss has just evaporated.

Yes i to did not think it was 100% right to put the unrealised loss in. Some decades ago back before the 1987 crash companies were including these unrealised profits to inflate very small profits and in some cases to bury losses.In a way this is creative accountanting even if it is going against us.
Overall NZO has done well this year dispuite the 4 well drill failure. No small achievment to now be sitting on nearly three incomes. The market reaction is nuts but this will turn around this year once reality comes home from the bank deposits. Markets like proof and not just promices and i believe in the coming year that is what it will get.The only cavit is the world finanical situation going further into a depression.
Thanks for keeping up the 5 cent div. NZO should be able to say that that is the minium for the next 20 years.
The only negative apart from drilling failure is that i am not in favor of selling PIKE or even talking about it.To hell with what the market thinks and past delays in production PIKE will be a winner given world demand and coal quality.In a two horse race between pike and NZO for the next 12 months my money would be on PIKE,and that NZOs rise will be on the back of PIKE. Now i know i can hear it already that NZO fall this past year is because of PIKE. True but that is at last looking like it is all about to change.
Cheers and spend your div wisely. Most of the population will not be getting one. In short the buying power of this 5 cent div is the greatest of the 4 we have now had.

[Bixbite]

...........
Thanks for keeping up the 5 cent div. ..........
The only negative apart from drilling failure is that i am not in favor of selling PIKE or even talking about it...........
Cheers and spend your div wisely. Most of the population will not be getting one. ........

Thanks NZO the helpful 5 cent div.

I don't wish NZOG to sell its PIKE holdings though, I would like NZO to distribute its PRC shares to its shareholders instead of paying 5 or 10 cent dividend. (To avoid affecting PRC's share prices on this issue, they can do this as packages, but it is another story.)

If big buyers wish to get big slices of PIKE to secure their coking coal supply, they can take NZO's PRC convertible bonds plus the right to purchase 30% of PRC's coal production.

Bixbite

[Logen Ninefingers]

If they can pay a 5c divie when they make a loss, what will they pay when they make a big profit?
NZO, just take a year off from drilling to consolidate and carefully plan your next moves. The picture should be radically different in a years time, Pike and Kupe are 20 year life span projects, rake in the cash and stack it in the bank.