Good point Fish - could have sold my NZO & PRC shares and bought back!!
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Good point Fish - could have sold my NZO & PRC shares and bought back!!
Gee Doctor G - whats your call you can't sit on the fence, up or down?
Noggers with short memories might be interested to know NZO were $1.40 in 1982.
I am not a Nogger yet, but I think I could be soon.
NZO will bounce back up to there 1982 prices in no time.
Or will they just keep going down now. Reply Reply With Quote .
NZO is on fire ... up 3 cents since Xmas and a really good gain from 81 cents a week or so again
Fish seems to be a market mover ..... heed his advice and don't take too long making up your mind
Watch the excitment on CNBC about rising price oil and commodities and you will see why you must get into NZO now
I decided to become a NOGGER, what the hell.
Seriously, I think they have been heavily discounted, and their libility with regard to the PRC tragedy is limited, and oil prices are on the up.
(Its easy to ignore the negative and only see the positive now I have bought, come on let me know more reasons why I am wrong, depress me please)
I 'm pretty sure they need farm in partners for most or all of their drilling prospects. The Taranaki Basin is considered high risk, ie. only a 1:10 chance of finding hydrocarbons. A drilling campaign always creates some excitement and a short term lift in the SP.
I would much prefer it if they had to relinquish some of their permits and just bought out some cash strapped Aussie junior with more prospective acreage. They haven't got Pike to throw more money at, so maybe they will consolidate next year and build up their war chest. Out in the Taranaki basin it's not so much drill and thrill but drill and burn money, such is the expense, and relative lack of success.
They missed their chance during the Global Credit Crunch, when they were cash rich when other companies were in trouble.
Whether NZO is good buying at the moment depends not just how much the SP has been discounted to assets, but what the market thinks of NZO going into the future. The SP. more often than not, is dictated by market sentiment.
If this works a 5 year chart of NZO.
http://au.finance.yahoo.com/q/bc?s=N...=on&z=m&q=l&c=