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22-05-2024, 06:48 PM
#17941
Thanks, I was referring to the dividend and should have phrased my question better, I would be annoyed with such a lax approach myself.
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23-05-2024, 08:54 AM
#17942
Latest change is best of both worlds for holders. NZO remains a NZ headquartered company but its shares are listed and traded in a larger market more familiar with energy prospecting and production.
NZO divs are treated as NZ income meaning simplified tax compliance - ie. recent div and tax paid are already populated to MyIR for 2025 EOY return. Couldn't be simpler. Bring on the future.
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23-05-2024, 03:59 PM
#17943
Great news...won't blame them ...NZ economy is crap ...thanks to Orrs and his associates... Robertson n Jacinda
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01-06-2024, 04:04 PM
#17944
Originally Posted by Toddy
Yes, I would say that will be on the cards.
The Australian CUE investors often complain that they cannot buy into NZO on the ASX as there is no liquidity.
With the TEG drill next month we should see some activity on the ASX.
Delist date is June 24. Ie only one month. Moving fast.
makes sense ..that and a name change
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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03-06-2024, 09:31 AM
#17945
Member
Originally Posted by X-men
Great news...won't blame them ...NZ economy is crap ...thanks to Orrs and his associates... Robertson n Jacinda
And it would make even more sense if the NZX closed and the complete board shifted to the ASX. Better exposure and liquidity. And more opportunities for NZ shareholders.
Last edited by Waiuta; 03-06-2024 at 09:31 AM.
Reason: spelling
A quote attributed to Margaret Thatcher goes along the lines of
"The problem with socialism is that eventually you run out of other people's money."
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11-06-2024, 01:01 PM
#17946
Not even the potential restart of oil & gas exploration in Taranaki can gain some interest. Likely some still wanting out before move to the NZX.
Need to get past delisting and then move on, name change.
Meanwhile market cap is $87m, with Cue being $35m AUD. Cash balance at the end of March was $45m so leaving $5m for the rest of the company.....
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11-06-2024, 01:38 PM
#17947
I guess some people need their money out.
For those holding, it's exciting times. We probably want the TEG rig late July. That way, the Aussie investors can see some volume going through the ASX which should pop up on the technical traders radar.
I'm going to top up at these levels. I was just trying to work out if there will be some bargains just before the delisting.
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11-06-2024, 02:55 PM
#17948
https://www.nzx.com/announcements/432618
New Zealand Oil & Gas (NZX: NZO, ASX: NZO) notes the press release by Beach Energy Limited (Beach) Operator of the Kupe gas field attached.
As we have announced previously, the results at KS-9 have been disappointing and the impacts for the field are still under detailed review. Our review work continues and we will report our determination on the impact of this asset in due course, in-line with our usual reporting practices. Any reserves changes are not expected to have a material impact on NZO Group’s reserves profile.
NZO has a 4% participating interest in Kupe along with joint venture partners Beach (50%, Operator) and Genesis Energy (46%).For
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11-06-2024, 03:18 PM
#17949
Non cashflow write downs and as NZO states, Not material.
NZO has no intentions of spending money playing around in NZ anymore.
How does the script work on the delisting re the fx rate and transfer over to the ASX.
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12-06-2024, 08:42 AM
#17950
https://www.nzx.com/announcements/432622
As announced on 14 February 2024, New Zealand Oil & Gas agreed to purchase a further 25% equity interest in the Mereenie licences, located in the Amadeus Basin in Australia's Northern Territory. The purchase is from Macquarie Mereenie and this transaction was subject to certain conditions, which have been fulfilled and the transaction has completed.
Horizon Oil is also announcing completion of the acquisition of 25% equity interest in the Mereenie licenses, which leaves Macquarie Mereenie with no equity interest.The participating interests in the Mereenie project are now:
• New Zealand Oil & Gas 42.5%
• Horizon Oil 25%
• Central Petroleum (Operator) 25%
• Cue Energy Resources (Cue) 7.5%
Including Cue’s 7.5% interest, the New Zealand Oil & Gas Group’s interest in Mereenie is 50%.
This has increased total 2P Group reserves by 41% to 23mmboe as at 1 July 2023. The acquisition will double the New Zealand Oil & Gas Group’s reserves and production from the Mereenie field.
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