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  1. #16891
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    Quote Originally Posted by mistaTea View Post
    https://www.nzx.com/announcements/354152

    What a waste of time and money, quite frankly. 6 months of meeting shareholders, having workshops and navel gazing to end up with:

    1) We need to stay in our circle of competence
    2) We need to live within our means
    3) There will probably be opportunities caused by Covid, and if we find any we should absolutely exploit them.

    Jesus Christ.
    You forgot to mention they signed "several" (I guess that means two?) confidentiality agreements. Having had to do this in my job on a few occasions, I know the time and effort it takes to do these. Each one took me at least an hour to sort out plus multiple trips to the photocopier, with COVID it could easily double the time these things take. Looking forward to their next update...

  2. #16892
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    Quote Originally Posted by k14 View Post
    You forgot to mention they signed "several" (I guess that means two?) confidentiality agreements. Having had to do this in my job on a few occasions, I know the time and effort it takes to do these. Each one took me at least an hour to sort out plus multiple trips to the photocopier, with COVID it could easily double the time these things take. Looking forward to their next update...
    Yes indeed! There I was being so hard on them when you are dead right - they have been pulling 15 hour days to get us to where we are now.

    On a more serious note, the only good thing in that announcement is that Ironbark is still on track to be drilled this year.

  3. #16893
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    The worst statement from my perspective is "New Zealand
    Oil & Gas' stock price is up 13% over the past 12 months (as of 3 June 2020),
    performance that few of its peers can match. "

    This is a joke to claim this as a positive.

  4. #16894
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    Quote Originally Posted by Chippie View Post
    The worst statement from my perspective is "New Zealand
    Oil & Gas' stock price is up 13% over the past 12 months (as of 3 June 2020),
    performance that few of its peers can match. "

    This is a joke to claim this as a positive.
    Agreed. Pretty well all of the large minority shareholders they talked with have given the same message: we are investors, not stock traders.

    So to bandy about a statistic like that as though we will find it pleasing just tells me that they still don't understand their shareholder base, and aren't really listening.

    I am only hanging around for Ironbark - certainly not because I feel at peace with the current Leadership in charge.

  5. #16895
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    Quote Originally Posted by Chippie View Post
    The worst statement from my perspective is "New Zealand
    Oil & Gas' stock price is up 13% over the past 12 months (as of 3 June 2020),
    performance that few of its peers can match. "

    This is a joke to claim this as a positive.
    It is also insulting to our intelligence.
    Based on a cherry picking selection of time frame and the trading of a handful of shares in the past few weeks .

  6. #16896
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    I am out of NZO completely now. Have given up on the incompetent management.

    A real shame as I first purchased a lot of shares @ 26 cents (pre 2000) and did well. Although also converted a number of options at $1.50 in 2008, which has not gone so well.

    I cannot even start to describe what I think of the management of this company. Absolute rubbish!

    Good luck to holders on Ironbark, I hope you all make some money out of this one.

  7. #16897
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    Quote Originally Posted by Chippie View Post

    I cannot even start to describe what I think of the management of this company. Absolute rubbish!
    Yep, I was genuinely excited when OGOG came on board as majority shareholder. So far, since the blunder they made over the Scheme of Arrangement, I have felt nothing but disappointment to be frank. I was underwhelmed meeting Andrew and Alistair.

    Will they find something worthwhile investing between now and the drill? It is possible I suppose, but I am not exactly filled with confidence at the moment. So I probably won't hold my breath

    Quote Originally Posted by Chippie View Post
    Good luck to holders on Ironbark, I hope you all make some money out of this one.
    Thanks mate, we need a healthy dose of luck at this stage! The Ironbark drill is definitely the only interesting thing happening with this company at the moment imo.

    A large gas discovery will be transformational for the company, so fingers crossed.
    Last edited by mistaTea; 04-06-2020 at 12:27 PM.

  8. #16898
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    I made money out of NZOG (as it was then) years ago back in the days of Tony Radford. Might be worth a look again at some stage perhaps

  9. #16899
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    Quote Originally Posted by mistaTea View Post
    Yep, I was genuinely excited when OGOG came on board as majority shareholder. So far, since the blunder they made over the Scheme of Arrangement, I have felt nothing but disappointment to be frank. I was underwhelmed meeting Andrew and Alistair.

    Will they find something worthwhile investing between now and the drill? It is possible I suppose, but I am not exactly filled with confidence at the moment. So I probably won't hold my breath



    Thanks mate, we need a healthy dose of luck at this stage! The Ironbark drill is definitely the only interesting thing happening with this company at the moment imo.

    A large gas discovery will be transformational for the company, so fingers crossed.
    This announcement is exactly what I expected (but hoped for better).
    For me Ironbark is exciting and nothing has happened to dampen my optimism.
    Unlike some prospects it will not be cancelled because the odds of financial success are high compared to the cost of the drill

  10. #16900
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    https://www.nbr.co.nz/story/nzog-gives-activist-brush

    Write up in NBR for those of you who subscribe.

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