NZ Oil & Gas (NZO)

[fish]

since were talking down........
TR was and is always after a whale, thats why the divi stream is low,
pike is big...... real big, so big it could wipe out NZO as well.
so ......... TR will go forth and redevelop the mine and will use money from anywhere he can get his hands on.
share holders are the easiest target.

TR is far too shrewd for that . He has a big holding in nzo . PRC is a separate company . NZO is the biggest creditor so come february will have a lot of say over the future of prc but will not want to take over the liabilities of prc .David Salisbury told me in October that coal is not the business of nzo and its shareholding in prc will be sold .

[Balance]

LOL.... Always happy to call it as I see it.

Receivership for PRC - http://www.stuff.co.nz/business/4433...ike-River-Coal

Will sobrer up some of the punters out there.

So will NZO throw good money after bad?

[Beagle]

Receivership for PRC - http://www.stuff.co.nz/business/4433...ike-River-Coal

Will sobrer up some of the punters out there.

So will NZO throw good money after bad?

Quite right Balance. Receivership looks the logical call after PRC's truly appalling track record to date. If they'd been hitting their numbers and cutting out 80,000 tonnes an month like they should have been 18 months ago it might be a different matter but frankly the only thing PRC have demonstrated they're any good at mining, is investors pockets.

How many times did they do additional capital raising's mate ?

[Balance]

Quite right Balance. Receivership looks the logical call after PRC's truly appalling track record to date. If they'd been hitting their numbers and cutting out 80,000 tonnes an month like they should have been 18 months ago it might be a different matter but frankly the only thing PRC have demonstrated they're any good at mining, is investors pockets.

How many times did they do additional capital raising's mate ?

The best part is that there are posters here who actually believe the company when the director(s) told them - "This will be the last one!"

No prizes for guessing why the directors all have long noses.

[fabs]

{ POSTED ON THIS FORUM ON THE 22/11TH BY ME, A TOTAL LAY PERSON.
WHAT TOOK ALL THE EXPERTS THAT LONG, INCL. NZO? CAN THE EXECUTIVES OF THIS CO. SERIOUSLY LOOK THEMSELVES IN THE MIRROR EVERY PAY DAY WITH A CLEAR CONSCIENCE? }
First thing NZO board, turn of money supply to PRC as a 30% S/H nzo is not responsible to bring mine to prod. now that the co. is bankrupt there is no way they get any of it back.
Cost to restart the mine to production level, probably 150 to 200 mil. Think of all the possible and likely scenarios
TIMELINE:
To restart
Short, 9 -18 mts.
Medium, 2-5yrs.
Long, 5- never.
PRC IS NOT DEAD IN THE WATER , IT IS SUNK.
Time for NZO the cut loss and concentrate fulltime on it,s core activity.
The gamble has not payed off
Irregardless the outcome of the present Tragedy!

[Beagle]

{ POSTED ON THIS FORUM ON THE 22/11TH BY ME, A TOTAL LAY PERSON.
WHAT TOOK ALL THE EXPERTS THAT LONG, INCL. NZO? CAN THE EXECUTIVES OF THIS CO. SERIOUSLY LOOK THEMSELVES IN THE MIRROR EVERY PAY DAY WITH A CLEAR CONSCIENCE? }
First thing NZO board, turn of money supply to PRC as a 30% S/H nzo is not responsible to bring mine to prod. now that the co. is bankrupt there is no way they get any of it back.
Cost to restart the mine to production level, probably 150 to 200 mil. Think of all the possible and likely scenarios
TIMELINE:
To restart
Short, 9 -18 mts.
Medium, 2-5yrs.
Long, 5- never.
PRC IS NOT DEAD IN THE WATER , IT IS SUNK.
Time for NZO the cut loss and concentrate fulltime on it,s core activity.
The gamble has not payed off
Irregardless the outcome of the present Tragedy!

It was a good post fabs.

Balance - As we know so well, there's only so many excuses, so many delays. so many creative projections the market will tolerate and the it becomes like the boy who cried "wolf" people simply call it as it is, its complete B.S. plain and simple.

Chalkie doesn't like PRC1's chances either:-
http://www.stuff.co.nz/business/opin...Pike-investors

No question P.W. did a good job managing the media and all other matters surrounding the tragedy, but perhaps people have forgotten he was overall mine manager before becoming CEO so the buck has to stop with him in more than one way, and on any objective analysis the business "performance" of PRC has been truly pathetic.

[the machine]

Has anyone heard if there has been a decision to drill PEP 38483 - decision needed by December 8

M

[fabs]

Are they still into drilling for Oil & Gas?

[blockhead]

Halt on trading for NZO

???

[BigBob]

Halt on trading for NZO

???

My guess is that it's one of four (in order of likelihood)...:

1. Additional bad news about longer term Pike exposure
2. They have received a take-over offer from some overseas, opportunistic vulture
3. They have (finally) found something to spend some of their war chest on
4. Bad news from Tui or Kupe