NZ Oil & Gas (NZO)

[Bilo]

What's the catalyst to go up from here ???

1. NZO SP hasn't recovered from the GFC and sub USD50 oil just because NZ hasn't
2. The buy back
3. Tui production back on track
3. Kupe profitability isn't fully declared
4. Kaupokanui farm out and drill - not a great result so far but a majors involvement with a drill rig would be very positive
5. Pike coal shipments - each one will be a positive

[notie]

The presentation made by the ceo and chairman today followed the usual pattern of staying the course and screening opportunities while managing to burn 1 million/month on G&A.

1. NZO SP hasn't recovered because most astute investors aren't interested. They are listed on the ASX and most savy investors on that exchange see much better investments

2. The buy back-shows that NZOG have no idea at all at how to grow the company. Instead lets blow money on buying our shares back

3. Tui production back on track-Tui is now well onto a decline and no more wells are likely to be drilled until late 2011

3. Kupe profitability isn't fully declared-their only bright light, but nzog are only in for 15% and they are not the operator so have little control on their destiny

4. Kaupokanui farm out and drill -they have farmed out to a new Aus ipo that hasn't even listed and the farm in is capped at 3 million. Total well cost is likely to be 15 million, so they are 12 million short.

5. Pike coal shipments - Pike is a chain hanging around NZOG's neck. They have put so much money into it that they can't afford to see it fail. Expect a reserve write down in the near future and nzog will have to bail them out again and long term the mine will be a failure.

Pity no one asked them about nzog bid for horizon oil falling through due to nzog procrastinating and losing out on a very good deal

[Corporate]

Pity no one asked them about nzog bid for horizon oil falling through due to nzog procrastinating and losing out on a very good deal

Notie...good summary. What was this HZN deal? I never heard a whisper of it?

[notie]

last year. deal was on the table for nzog to buy out horizon, then the man at charge in nzog got the speed wobbles and pulled out. Horizon went on to sell assets in png for 50 million usd

[fabs]

Seems NZO,.
now that the AGM has passed has entered its usual 11 month hibernation mode.
Only consolation SBB stopping freefall of S/P.

[neopoleII]

instead of cancelling the shares, why not give them to shareholders?
this would be an incentive to hold on to shares, and maybe buy more, to get more free shares?

if this was the old days with paper certificates they would be burning share certificates.
not what i call good management of shareholder funds.
a larger divi would of helped more than cancelling shares as well.

oh well, im sure TR has a master plan.

[blockhead]

I think you are correct fabs, NZO is in a holding pattern for the forseeable future, the question is if you sell out, where would you be best to put the proceeds ???

[fabs]

Yes, should have followed my intuition 6-7 months ago just about any oz resource share would have been ok , a bit harder to pick at the moment.
What concerns me more than a bit is, that NZOs fortune very much tied for the next 12 months to the future of PRCs success, or dare i spell it out absence of.

[dsurf]

Yes, should have followed my intuition 6-7 months ago just about any oz resource share would have been ok , a bit harder to pick at the moment.
What concerns me more than a bit is, that NZOs fortune very much tied for the next 12 months to the future of PRCs success, or dare i spell it out absence of.

Talk again of oil at "100" next year after Saudi's? increased "acceptable" price range from between $70 & $80 to between $70 & $90. At $100 papers etc get excited & energy which has underperformed commodities in general will be back in focus. This would boost NZO also.

[Bilo]

Talk again of oil at "100" next year after Saudi's? increased "acceptable" price range from between $70 & $80 to between $70 & $90. At $100 papers etc get excited & energy which has underperformed commodities in general will be back in focus. This would boost NZO also.

Tapis oil has been at NZD120 for a while now and still holding. Helps to make producing NZ wells very profitable.