NZ Oil & Gas (NZO)

[skid]

mayby i got it wrong-although i dont see anything about TH on direct broking

[skid]

thanx for update Lizard

[the machine]

nzo are suspended pending announcement hopefully AM Wednesday

http://www.asx.com.au/asx/statistics...idsId=01123384

M

[Beagle]

The Govt has backed many other dogs (yes even SCF) so let them bail out PRC & be repaid from future revenues.

The flow on effect for employment in Reefton/Greymouth area might make the Govt act

Well said Shasta.

I really feel for the miners and their families but there's hundereds of millions of dollars at stake here and that also matters.

Either the Govt provides assistance to keep the mine in an "on hold status" approx $7 million a month or PRC make a renounceable rights issue say 2 for 1 at 20 cents or something like that and PRC shareholders can make up their own minds whether there's any value left in the company and whether they deserve yet another chance. Perhaps the Government could underwrite the rights issue, remember the Air New Zealand bail out anyone, deemed to be in the national interest ? But who if anyone will be interested in PRC eventually resuming mine operations if all the miners are dead ?

[minimoke]

Two more minutes to see the initial impact. Trading halt lifted.

[fish]

around 85 cents-lower than i expected

[shasta]

Well said Shasta.

I really feel for the miners and their families but there's hundereds of millions of dollars at stake here and that also matters.

Either the Govt provides assistance to keep the mine in an "on hold status" approx $7 million a month or PRC make a renounceable rights issue say 2 for 1 at 20 cents or something like that and PRC shareholders can make up their own minds whether there's any value left in the company and whether they deserve yet another chance. Perhaps the Government could underwrite the rights issue, remember the Air New Zealand bail out anyone, deemed to be in the national interest ? But who if anyone will be interested in PRC eventually resuming mine operations if all the miners are dead ?

The Govt could buy PRC & run it in a similar vein to the Stockton mine run by Solid Energy? (providing NZO an exit strategy?)

The hard coking coal is still of value, especially to the Japanese steelmakers, again NZO can extract some value on-selling the coal production rights?

Wonder what the Indian shareholders want to do, & whether there focus is short or longer term? (Where does that leave NZO?)

Assuming, the "rescue" is now just a body recovery, the sentiment in the affected surrounding areas may prompt the Govt to act

I still see room for NZO to extract some value out of this situation, & would be interested in NZO is oversold

Disc: Nil held in NZO & PRC

[trackers]

The Govt could buy PRC & run it in a similar vein to the Stockton mine run by Solid Energy? (providing NZO an exit strategy?)

The hard coking coal is still of value, especially to the Japanese steelmakers, again NZO can extract some value on-selling the coal production rights?

Wonder what the Indian shareholders want to do, & whether there focus is short or longer term? (Where does that leave NZO?)

Assuming, the "rescue" is now just a body recovery, the sentiment in the affected surrounding areas may prompt the Govt to act

I still see room for NZO to extract some value out of this situation, & would be interested in NZO is oversold

Disc: Nil held in NZO & PRC

Interesting thoughts Shasta... I see 30% has just evaporated from NZO.

The key question for me (when considering govt intervention etc) is... What guarantee can operators give that there will 100% certainty that this won't happen again in future? Noone will want to buy a loaded gun, as there will be even less excuses for this sort of accident again in the future.

I personally think the govt would be stupid to touch it

[fish]

?oversold at 80 cents-I think so but their is downwards pressure still-hope the buyback kicks in before margin lenders have to exit

[fish]

The nzo statement is good-they will continue to supply funding to prc so at least families of the trapped and workers will keep receiving wages