NZ Oil & Gas (NZO)

**Banksie** · 25-07-2013, 01:33 PM

Some analysts still think NZO is a good proposition.

http://www.nbr.co.nz/article/nzog-ce...tner-wb-143313

Shares of NZOG last traded unchanged at 83 cents on the NZX and have declined 5 percent this year. The stock, which has shed 50 percent of its value in the past five years partly reflecting the failure of the Pike River Coal mine, is rated a 'buy' based on the consensus of six analysts polled by Reuters, with a price target of $1.

**Balance** · 25-07-2013, 05:18 PM

Originally Posted by digger

Yes well done NZO. Good to get back in the saddle.
I for one can not fully understand the need to wait for parnters.Soumds good on the surface to spread the cost but at the same time you reduce the success if it does occure. What is the difference between one drill giving 90% of 200 million barralls at 30 million cost and 10 drills costing the same 30 million giving with the same amount of oil to NZO. To me it comes down to how sure you are of the prior work on the per drill assesment. We have studied this long enought now so it is good that we had to face the drill or drop and we have decided on the drill.
For better or worse let the drilling get organised and underway.
Chers all

Sorry, Digger but your mates at NZOG did not know what they were doing in the place?

**digger** · 25-07-2013, 05:48 PM

Originally Posted by Balance

Sorry, Digger but your mates at NZOG did not know what they were doing in the place?

I certainly stand by my belief that Kakapo should have been drilled. It comes down to some trust in our geologists that they know what they are doing. If you think that the chances of success are X % then as I said before why need someone to hold your hand. Actually I am very disappointed and was looking forward to that drill. Whatever is their will stay there now and maybe in the future it will come up again. This announcement today is almost as bad as a dry well.

**Queenstfarmer** · 25-07-2013, 06:23 PM

If we can't rely on the chiefs at NZO to get this company making big big money...then we as the Shareholders can make a difference...and stop complaining. If Andrew Knight was heading Shell or BP he would've been out by lunchtime a year ago!

**neopoleII** · 25-07-2013, 07:28 PM

my take on this is..... if they had got some early positive results from the Indonesian drill and got a defined number on the potential cash flow they would of kept Kakapo and run with it alone.... as they have $160 mill in the bank. but with the current well being dubious and the one being drilled now not being anything but a wildcat while the fist well is waiting for "fracturing" the board has no choice but to back off.
these guys are playing in areas where they are the small fish trying to catch a whale while local explorers are hitting oil in our own back yard.

this is the legacy of TR and it seems he is still controlling the reins or has placed people in position to take over his "reins" to his liking while being an "independent" director.
NZO will either get "lucky"....... while TR is still there or NZO will have to wait till TR is gone and then really apply its self.
in the meantime...... AWE is looking to sell of a guaranteed 50% of a 100 million barrel field (which NZO can afford to buy) but NZO wants to hit its own whale as operator and farm the costs off to someone else.
as if!!! ..... those in the "game" know that letting TR control a drill is a waste of money....... ergo the handing in of the Kakapo permit.

but that is my worthless view.

p.s..... any updates on the second drill in Indonesia? they are supposed to let us know drill spud and intersection of zone.

**Balance** · 25-07-2013, 09:02 PM

Originally Posted by moosie_900

lol, the incompetence of NZO is getting near RAK proportions. unfortunatwly, another NZ company to avoid like the plague. hope mr knight reads this all to get some sense into his head.

Careful, Noggers will target you next.

You may get banned!

NZOG can do no wrong - especially Andrew Knight as he is new to NZOG.

**Selena** · 25-07-2013, 10:15 PM

Watch out for the wily Geoff Albers. If there is anything to be gained from permit 51311 Octanex will be in like a robber's dog!

**Balance** · 25-07-2013, 10:35 PM

Originally Posted by digger

I certainly stand by my belief that Kakapo should have been drilled. It comes down to some trust in our geologists that they know what they are doing. If you think that the chances of success are X % then as I said before why need someone to hold your hand. Actually I am very disappointed and was looking forward to that drill. Whatever is their will stay there now and maybe in the future it will come up again. This announcement today is almost as bad as a dry well.

Just a few million dollars down the hole (yet to be drilled) and plenty of management and executive time.

NZOG sure know how to spend.

Today's market cap is less than all the money extracted from shareholders in the last decade.

Sobering!

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