NZ Oil & Gas (NZO)

[BigBob]

Takeover offer by Zeta... 72c per FPO...

https://nzx.com/companies/NZO/announcements/305307

[Chippie]

correct me if I am wrong. But the June cashflow report showed $125,080K in cash. divided by 159428718 shares on issue gives cash per share of 78 cents.

So they are offering 72 cents per share for 78 cents in cash plus all the other assets such as Maari, Kupe and the Indonesia fields.

Sounds a bit cheeky to me???

[peat]

correct me if I am wrong. But the June cashflow report showed $125,080K in cash. divided by 159428718 shares on issue gives cash per share of 78 cents.

So they are offering 72 cents per share for 78 cents in cash plus all the other assets such as Maari, Kupe and the Indonesia fields.

Sounds a bit cheeky to me???

thats right Chippie, but market has only rated at 62 ish for a long time, so its the best offer so far. .....
this is exactly why I recommended the stock back in January. and since then it was noticeable that H&G (Cushings) were building a stake. They are now locked up with Zeta
and that 5 million traded on Friday was another clue that things were hotting up

[trader_jackson]

thats right Chippie, but market has only rated at 62 ish for a long time, so its the best offer so far. .....
this is exactly why I recommended the stock back in January. and since then it was noticeable that H&G (Cushings) were building a stake. They are now locked up with Zeta
and that 5 million traded on Friday was another clue that things were hotting up

It is good to see it has finally pushed through the 64 cents, and now likely to stay there... this takeover announcement has been expected (hoped) for, for quite a while so good to see it has actually happened.

(I sold out at 64 cents in November last year which later went towards OCA - OCA has performed "a fair bit" better than NZO)

[fabs]

[Interesting Development.
From 9/117 to 10/7/17 about 6 months
Total shares traded = 11'734000 mill. at full working day weeks 26 in total @ 450000 per week
From 17/7/17 to 4/8/17 = 12'577000 " " " 3 " @ 4'190000 mill. per week

And now the Announcement they are worth 0.72
What a nice windfall for some lucky punters which bought on average for between 60 TO 62 CENTS over the last 3 weeks.

MICKY MOUSE AND THE WILD WEST RULES in the nz Share market?

BTW: What happened to drilling the Barque PROSPECT IN THE 2017 YEAR and the negotiation SUPPOSEDLY IN PROGRESS FOR SAME SINCE THE END OF LAST YEAR Regards farm out partners, Any progress there and any Value in that and what of it and ?????????

[peat]

[Interesting Development.
From 9/117 to 10/7/17 about 6 months
Total shares traded = 11'734000 mill. at full working day weeks 26 in total @ 450000 per week
From 17/7/17 to 4/8/17 = 12'577000 " " " 3 " @ 4'190000 mill. per week

And now the Announcement they are worth 0.72
What a nice windfall for some lucky punters which bought on average for between 60 TO 62 CENTS over the last 3 weeks.

MICKY MOUSE AND THE WILD WEST RULES in the nz Share market?

BTW: What happened to drilling the Barque PROSPECT IN THE 2017 YEAR and the negotiation SUPPOSEDLY IN PROGRESS FOR SAME SINCE THE END OF LAST YEAR Regards farm out partners, Any progress there and any Value in that and what of it and ?????????

the facts have been there for all to see fabs. Buying deep unloved value takes courage and perseverance sometimes.

NZO may well still develop Barque/Clipper, this doesnt change that I wouldnt think.

[fabs]

the facts have been there for all to see fabs. Buying deep unloved value takes courage and perseverance sometimes.

NZO-- OR ZETA may well still develop Barque/Clipper, this doesnt change that I wouldnt think.

Roger that peat;

Was not meant btw. to come across envious, of the diligent investor that takes a punt and good luck to them.
Making his/her move by lucky guess, intuition, rationale deduction or just good INFORMATION & PERFECT TIMING. [ grin ]

[Joshuatree]

Congrats peat for joining the dots and sharing. Intuition told me to sit on this and intuition was right this time.(smiles)

[Rabbi]

The shareprice being at a discount for so long is an indictment on the overall inaction of management. Now the company gets pillaged for the cash and assets and someone else can get well paid to sit on their butts and do nothing. Game over.

[Chippie]

The shareprice being at a discount for so long is an indictment on the overall inaction of management. Now the company gets pillaged for the cash and assets and someone else can get well paid to sit on their butts and do nothing. Game over.

I half expect the NZO management to recommend to accept the offer. That would absolutley confirm that they have no idea what they are doing. I still cannot believe they sold Kupe, but what do I know.