Sometimes I get a funny feeling about stocks and I've got it for NZO. Still quite cheap and the buy side is buildings and the sell side is thinning. I don't think it will be long before you can't buy in the 60's.
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Sometimes I get a funny feeling about stocks and I've got it for NZO. Still quite cheap and the buy side is buildings and the sell side is thinning. I don't think it will be long before you can't buy in the 60's.
I tend to agree Corporate, with the stock being very undervalued on earnings. They need another partner for their main offshore prospect (was kaupokanui) and there are other factors such as recovering Pike secured debt and the sale of the mine which is holding the SP back .
Then there is the possibility of $100 million investment which could be good news if they can finalise the deal.
NZO has been a bit of a dead horse all year.
With a bit of luck sentiment could change quickly.
This year has been the perfect storm - the weather will clear. I think that the current lack of bad news in itself will see a re-rating upwards. Lets face it it had to stop falling eventually! I even read a post from Balance mentioning "good assets". Say no more. Chart suggests long term bottom IMO.
Long may the weather clear over nzo.
Increasingly stormy in usa though-metaphorically and physically-1/2 of gulf of mexico oil production now shut in by this slow moving cyclone.
China continues its phenominal growth to more than make up for the relatively static usa economy .
Much higher production in august than july-gas,lpg and light oil all up
Kupe is certainly making up for the lower predictions on Tui .
Good point fish, loving the big bid in at 67c
NZOG website gives monthly production figures.
Also confirmed by Chris
-You are correct, Kupe is doing very well. So well that the planned in-fill drilling has been delayed until 2013/14. This means any further exploration drilling at Kupe is also delayed until then.
At Tui there are several promising exploration targets. We are waiting for a firm proposal from the Operator. But there will certainly be no drilling before 2012/13.
We are well advanced on our planning to drill the Kakapo well (formerly Kaupokonui) but are struggling to secure a rig. No-one else is planning to drill this summer in NZ waters so it is a bit of a lonely slog to get a rig. If we miss out on drilling this summer we will drill in 2012/13.
A lot of our efforts are focussed on Tunisia and Indonesia. In addition to what has been announced, we have a steady stream of other potential deals in both locations were are being assessed and I’d expect some further announcements in the next few months.
YES IT IS ALWAYS THE NEXT & NEXT & NEXT this or that, at least we go back to the formula that lead to success 10 years ago. Here is hoping!