NZ Oil & Gas (NZO)

[fish]

Hi Fish,
I said 100 for Tapis at year end not 90. Will stick with it.
Been reading a lot lately about more warnings about peak oil from some previously non beleivers.Concern for the future will slowly start to have an effect do to stock piling well before the event. actually i stockpiled 1400 lts of deisel yesterday to save to sa about 90 dollars. In a year or two this could be a daily problem for the whole world.
Now what is the drilling plan for this year? What has changed to make it more successful---or i mean less a total failure.

So many questions to be asked.
I suspect with the price of oil being so depressed by pessimistic forcasters on world growth that they chose the longshots first .They should have more seismics and better modellings this year .
Hope you get a chance to ask searching questions .
I have taken time off this year to attend the agm but havnt been invited yet

[tim23]

Well Fish you should have been invited by now - I was about 3 days ago?

[friedegg]

no, they will use this 25 mill, then nzog will bail them out again when the next bill comes along.
The whole pike river design and start up was a product of nzog and Gordon Ward who had held a senior role at this company. This speaks volumes about whole competent nzog are.

have nzog got any money left to invest in any reasonably sized oil or gas project? I think not. So from now on they are relying on their bad investments in Pike River and Pan Pacific.

theyve got the money notie,probably about $150000 more from the time you posted actually,sure pike has been a disastrous mess the last few years but dont you think nzo may be poking its money into this right when the eggs are hatching?

[digger]

no, they will use this 25 mill, then nzog will bail them out again when the next bill comes along.
The whole pike river design and start up was a product of nzog and Gordon Ward who had held a senior role at this company. This speaks volumes about whole competent nzog are.

have nzog got any money left to invest in any reasonably sized oil or gas project? I think not. So from now on they are relying on their bad investments in Pike River and Pan Pacific.

Notie,
am sure it was you who about a year ago was telling us how short sighted NZO was for not buying into PPP when it was 35 cents.At that time PPP was in the 70 and 80 range. NZO will only ever get hindsight knowledge from you,but i guess they already know that.
I am one of the mushrooms that is happy to support monies into PIKE and will wait the production.

[notie]

deary me, Friday night and bewildered nzog shareholders drowning their sorrows

[Lion]

deary me, Friday night and bewildered nzog shareholders drowning their sorrows

Yes, it is dreadful notie. Dividend day, share price up, price of oil on the rise, Pike coal sales starting.
I just don't know how much more I can take.
Thanks for your sympathy.

[Sideshow Bob]

Quixk question....I got the divvie in the account today, but it works out at approx 4.78 cps, when I thought was a 5 cpos dividend. Any reason for this??

Thanks in advance.


Cheers
SSB

[Nitaa]

After a about a year in hibernation I have decided to rear my ugly head.

hmmmm... whats going on? NZOG cuaght between a rock and a hard place with Pike? No pun intended. It's been aparent for some time that financing Pike appears to be the lesser of 2 evils. Unfortuntately there are a select few that have a vesgted interest in Pike and in my opinion it's to the deterrment of nzo shareholders.

Apart from Kupe and tui which are fundamentally sound investments its hard to see where growth is going to come from. The next couple of years is likely to see more pain and a slow dwindling of cash reserves. Year 2014 might be the turning point perhaps.

On a side note, all the stars (wheres Yogi?) are lining up for a strong bull run this decade not seen since the 80's. Lets hope that nzo will be on the winning side of the ledger.

p.s. sold out of nzo a year ago

[sideline]

Quixk question....I got the divvie in the account today, but it works out at approx 4.78 cps, when I thought was a 5 cpos dividend. Any reason for this??

Thanks in advance.


Cheers
SSB

Bob, the dividend is 'fully imputed' but the top company tax rate is only 30%.
There is a requirement to top that tax up to the personal tax rate of 33%, so of that 5c some went
off to the tax man as resident withholding tax. Depending on your marginal tax rate you
might be able to claim the RWT back from IRD in your tax return.

[notie]

Notie,
am sure it was you who about a year ago was telling us how short sighted NZO was for not buying into PPP when it was 35 cents.At that time PPP was in the 70 and 80 range. NZO will only ever get hindsight knowledge from you,but i guess they already know that.
I am one of the mushrooms that is happy to support monies into PIKE and will wait the production.

NZOG shares listed for 50c in 1981. Now 29 years later they are trading at $1.30. Not much in the way of capital growth and I'd have been better off (even with the recent dividends) leaving the money in a low interest bank account!

NZOG is going nowhere with pike hanging around its neck, and even when it clears that it still has no upside