NZ Oil & Gas (NZO)

[fish]

Surely with the price jump to 61 since the announcement (occasional trades at 62c), then anyone buying would have the expectation of a higher price - and strengthen the likelihood of not getting what they need to, to mop up the company. Not going to buy in to make 1 cent.

Although volumes traded haven't been great....

Anyone buying into any company would have the expectation of a higher price or good returns to make it worth taking the risk.
It seems to me that OGOG have realized(reinforced today by greenpeace actions) that the current climate in NZ is hostile.
They might want to get out of NZ and take the cash and Ironbark permit and majority holding in cue at the lowest possible cost.
Its unlikely they will get this at 62 cents a share and so may have to increase the offer price-this is one of the attractions of buying-not with the intention of making 1 cent.
Then you have to factor in the risk of the sp dropping

[blockhead]

I tell you what I reckon might happen SSB, the appraisal will come out suggesting 62c is highway robbery, there won't be an increased offer from the Highway robbers and the sp will drift back towards where it was a month ago with all the long term holders hanging onto Ironbark hopes, most holders have probably been in NZO for so long their investment is written off in their minds and hanging on a bit longer won't really matter now anyway.
With that in mine mine are being slowly sold @ 62c.

Could be wrong of course !

[RTM]

……... most holders have probably been in NZO for so long their investment is written off in their minds and hanging on a bit longer won't really matter now anyway.
!

Yep...that's me. There's been so many transactions over the years I really wouldn't know whether I'm up or down or even on this one. Having owned some of them from the start.

[fish]

I tell you what I reckon might happen SSB, the appraisal will come out suggesting 62c is highway robbery, there won't be an increased offer from the Highway robbers and the sp will drift back towards where it was a month ago with all the long term holders hanging onto Ironbark hopes, most holders have probably been in NZO for so long their investment is written off in their minds and hanging on a bit longer won't really matter now anyway.
With that in mine mine are being slowly sold @ 62c.

Could be wrong of course !

Looking at the volume weighted average price this could be a very slow process.
I hope you are right.
I really dont want to be the victim of highway robbery.
Fortunately I am in a position where I dont want to sell at 62 cents and have a buy order in at 61 cents.
If the sp drops it will give me a cheaper buy in price
I am still working and will be able to buy a lot more-I did own a 7 figure number a long time ago and would like to get back to that position again.

[fish]

Oil and gas company Beach Energy has agreed to sell a 37.5 percent share in the PEP 38264 license offshore New Zealand to a subsidiary of O.G. Energy.

To me it makes nonsense of the assertion that NZ is no longer attractive to explorers.It also makes nonsense of my previous guess that OGOG wanted to take NZO out of NZ-they are clearly here to drill.
They look as if they will be committed to drill by 2021 and so I guess a drilling rig will be in the canterbury basin and will be able to drill for NZO.











\

[mistaTea]

Oil and gas company Beach Energy has agreed to sell a 37.5 percent share in the PEP 38264 license offshore New Zealand to a subsidiary of O.G. Energy.

To me it makes nonsense of the assertion that NZ is no longer attractive to explorers.It also makes nonsense of my previous guess that OGOG wanted to take NZO out of NZ-they are clearly here to drill.
They look as if they will be committed to drill by 2021 and so I guess a drilling rig will be in the canterbury basin and will be able to drill for NZO.
\

Certainly does make a mockery of the notion that OGOG thinks the NZ regulatory environment has become too damn tough - but lucky for the minority holders they are still willing to offer a pittance to buy us out, and save us from ourselves and the bleak prospects.

At the end of the day, if it came down to it, I’m reasonably confident that OGOG could purchase a significant % of Clipper.

So if they continue to be extremely confident about the 11Tcf prospect, but genuinely couldn’t get anyone else to farm in...they could still make the drill happen if they wanted to.

Not having to deal with pesky minority shareholders just makes the process easier for them (and obviously increases their upside).

[fish]

I tell you what I reckon might happen SSB, the appraisal will come out suggesting 62c is highway robbery, there won't be an increased offer from the Highway robbers and the sp will drift back towards where it was a month ago with all the long term holders hanging onto Ironbark hopes, most holders have probably been in NZO for so long their investment is written off in their minds and hanging on a bit longer won't really matter now anyway.
With that in mine mine are being slowly sold @ 62c.

Could be wrong of course !

Everyone can be wrong.
I am getting increasingly frustrated at not being able to buy more at 61 cents
If I increase my bid to 61.5 will you come down 1/2 cent-knowing that the SP could drop to where it was before the Ofer(?a pun and the whole post a joke-but it could be true!)

[freddagg]

Everyone can be wrong.
I am getting increasingly frustrated at not being able to buy more at 61 cents
If I increase my bid to 61.5 will you come down 1/2 cent-knowing that the SP could drop to where it was before the Ofer(?a pun and the whole post a joke-but it could be true!)

Just pay Blockhead the 62c - I did.
Mr Ofer knows he wont get any sellers at 62 cents, he is just trying to soften us up to accept a lowball 85 cents.

[fish]

Just pay Blockhead the 62c - I did.
Mr Ofer knows he wont get any sellers at 62 cents, he is just trying to soften us up to accept a lowball 85 cents.

I did wonder how blockhead managed to sell some at 62 cents on market as only a handful have gone through at that price.

Mr Ofer certainly is worth a lot of money-over 10 billion US -I am now wondering if he has solved the problem of what to do with the gas that we know is sitting in the canterbury basin-

From Wikipaedia-Ofer is also the principal of OMNI Offshore Terminals, the largest provider of floating production storage and offloading (FSO & FPSO) assets to the offshore oil and gas industry. Founded in 1990, the Singapore–headquartered company has delivered 23 conversion projects, 2 FPSO and 21 FSO.[40]
This gets over the greenpeace and resource consent problems of putting in infrastructure to bring and process gas onshore.Doesnt bring much benefit to NZ

[Wiremu]

This from NZOG in mid-2018:
http://nzx-prod-s7fsd7f98s.s3-websit...884/279073.pdf
and the decision to farm-in to PEP38264 in which the announcement includes "New Zealand offers attractive fiscal terms, in a stable regulatory environment and with a transparent government" all shows how duplicitous are the talking points that OGOG are using to justify their buyback proposal.