Wow! 1% - that's really stinging the poor old employees, right?
So they pay, say 0.85c when the sp is 85c with a conversion price of $1.02.
Anyone care to work out what B&S model will price the options at? It sure ain't 0.85c!
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Things are sure changing fast and for once in NZO's favor. Tapis struggled all of last year to get to my estimated price of 100 dollars by 31 December. Now less that two months later it is nearly up 20% at just shy of 120. As we sell at a small premium[at least we did ] to Tapis it today could be 120.That with our exchange rate means in NZ dollars we are getting $168.Also note comments that our offical interest rate is being currently talked of falling 50 basic points.That will further drop of dollar value.
This all amounts to a big change in a very short time and has more likehood of going nZO way than reversing.The middle east is on fire,our dollar will likely fall.
digger, why bother investing in this company. Ok, the oil price is going up but they aren't returning any of it to shareholders as divis nor are they investing it in new drills.
Are they planning on drilling any wells in their operated areas this year-no they aren't.
Are any of their partners-Kupe and Tui-no they aren't.
That means that avenue of growth is closed off to them.
If anything, oils sales from Tui are declining fast so the increase in the oil price is only going to offset the production decline. My guess is you are going to see the share price remain pretty static if not fall for the rest of this year.
Without the carrot of a dividend most investors apart from the most mis-guided and overtly loyal are going to bail from this stock. Most of the nzog posters on here seem to have realised that nzog took 200 million off them with some pipe dream and have then blown it on pike river and then their $1.50 investment is now worth 87c. nice work. at the same time the board and management of this company have done nicely with their 5-star oiler life styles.
Even their much talked about new investment in the near east isn't going to save them as they don't have to drill a well for 2-3 years. There also appear to be some sovereign risks associated with investing in the area they are looking at.
these guys have talked a big story over the last few years, but the inaction from them tells the true story.
hello chris, thank you for posting here and clearing up some stuff, however, does your bosses read these forums too? If they dont they should, NZO has been pathethic
Disc: Holder since 2006
high paid new expansion exploring team? snr. Radford found all existing. great new explore team since? patetico
Thanks for posting Chris and clearing up some matters. The problem I have is that we are all accountable in this world and the board/ executive are responsible for the performance of the company. NZO's performance has been very disappointing (to put it mildly) and shareholders have suffered directly (shareprice performance and no dividend) as a result of the performance of the board/ executive. The RIGHT thing for the board/ management to do is to review their poor performance and take actions accordingly. The first action should have been to review all personnel and their compensation and make changes and/ or cuts. Accounting/ Economics 101. NZO bulked up all its overheads when Tui revenues came on stream but no tangible results.
NZO had one of the best oil fields in the world in terms of pay back and yet have been unable to capitalise on such a great opportunity. There have only been two winners from the Tui fields performance - management of NZO and the NZ government.
I may come out my retirement if there is enough shareholder support...still 'only" 41=)=)=) Seriously, some hard questions need to put to the board/ management.
Gazprom
All this management is talking about is future potential and the action they intend to take in future, to be able to talk in due course of future potential.
That is how they can in there eyes justify there numbers and at the same time skim the cream of this co. for as long as pos.
Yes of course that will not be for ever.
Also unless they know something we are not aware of, about the unraveling of the the equally drawn out saga of Pike they clutching at straws, hoping for any sort of significant windfall.
Again part of that pie in the sky sometime in the future potential, in this case of retrieving MILLIONS.
S/P at 0.85 cents far to high at present, on future potential.
Very effective spin just the same, easy ride for the 22 staff on the payroll.
Maybe you should listen to the conference call if you haven't already.....
I think it's pretty much justified on what is KNOWN about the company - i.e. future production from TUI and KUPE.
I also think that if there is anything coming from PRC, any exploration success, anything from the "Northern Hemisphere", anything from PPP or anything from a higher oil price, the upside could be significant.
But as they say, each to their own....
Just for the record here is what we paid for the 12 months 30/06/10
Directors Remuneration
R A Radford $154500
Prof R F Meyer $87500
P G Foley $77083
P W Griffiths $36167
A T N Knight $62000
S J Rawson $62000
D J Salisbury $559000 (CEO Remuneration)
D R Scoffham $62000
On top of this there were 14 employees received between $120000 and $310000.
If the company cant afford dividends how cant it afford such salaries?
What can we do to protect our interest from further declining? vote the board out?