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20-05-2017, 07:17 AM
#15531
Originally Posted by Sideshow Bob
Would they not have had to disclose that before the voting???
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20-05-2017, 08:20 AM
#15532
Member
Yup, my thoughts exactly. Im assuming they didnt want Genesis to lower their offer. I suspect this 4% deal has been done without Genesis knowledge.
And Mitsui must have wanted out and possibly something to gain later.
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20-05-2017, 09:45 AM
#15533
Seems a step backwards to me. Getting it for 10m less doesn't mean it's worth 10m more... if it's not a case of capital raising for Mitsui to partner up in something, then what fathomable reason could it be?
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22-05-2017, 01:47 PM
#15534
Originally Posted by t.rexjr
Seems a step backwards to me. Getting it for 10m less doesn't mean it's worth 10m more... if it's not a case of capital raising for Mitsui to partner up in something, then what fathomable reason could it be?
The market seems to like it. I missed Friday's run up to 66 cents. Trying to work out why NZO is worth more now than 3 weeks ago. Still not convinced but I am guessing market seems to see that NZO now has circa $100m cash 62.5 cps, + 4% of Kupe ($35m) and some permits in the south that may or may not be worth something. Still do not know why they have taken the 4% stake in Kupe. Seems like they are rudderless to an extent and doing something for the sake of doing something...
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22-05-2017, 04:11 PM
#15535
Member
Originally Posted by blackcap
The market seems to like it. I missed Friday's run up to 66 cents. Trying to work out why NZO is worth more now than 3 weeks ago. Still not convinced but I am guessing market seems to see that NZO now has circa $100m cash 62.5 cps, + 4% of Kupe ($35m) and some permits in the south that may or may not be worth something. Still do not know why they have taken the 4% stake in Kupe. Seems like they are rudderless to an extent and doing something for the sake of doing something...
Don't forget they have 50% of Cue but I agree they do have to prove to the market that they can add value to the company with the remaining cash.
Taranaki basin is a wildcat area with the ratio of success per drill being historically low. Canterbury basin, even if they hit pay dirt, would take years and
significant capex spending to develop.
They should look to Australia and make a swoop on a low market cap junior with no cash and good assets.
Buru energy would fit this criteria as they have to use their remaining cash to repay a loan to Alcoa.
Their Ungani oil field has alot more potential and their gas prospects are "world class"
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08-06-2017, 11:43 AM
#15536
I am wondering if the present chaos in Qatar one of the worlds largest gas producers moves the Canterbury prospect up the worth having a go list.
After all the worst our nearest neighbour is likely to do is bowl underarm in some weird game only a few countries care about.
Boop boop de do
Marilyn
Diamonds are a girls best friend.
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15-06-2017, 09:54 AM
#15537
For clarity, nothing I say is advice....
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15-06-2017, 11:37 AM
#15538
Junior Member
Unless I have misinterpreted today's announcement, he shed 10000000 yesterday.
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15-06-2017, 11:42 AM
#15539
Originally Posted by greenglass
Unless I have misinterpreted today's announcement, he shed 10000000 yesterday.
Maybe the capital reconstruction has something to do with that? His % is increasing.
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15-06-2017, 11:44 AM
#15540
Originally Posted by greenglass
Unless I have misinterpreted today's announcement, he shed 10000000 yesterday.
yes you have misinterpreted
Blackcap is correct.
everyones nominal shareholding halved during the Cash Refund and Share cancellation.
Between 12 May 2017 and 14 June 2017 H&G Limited acquired 1,426,874 shares in NZO on market for $912,571.14.
Last edited by peat; 15-06-2017 at 11:47 AM.
For clarity, nothing I say is advice....
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