Being the largest of the muslim countries, lets hope the furor dies down before drilling starts.
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Actually I think that on a quick feel of the maths trying to gain some cheap DRIP shares by selling shares now to force down the price is a bit like the cat chasing its tail. It takes about 16 shares to get enought dividend to buy one new share.That sort of weighting makes the exercise a bit pointless,but very good for others who are in the DRIP scheme as bystanders.
The SP drop to my thinking is that once again NZO is having trouble just as the SP starts to rise. THis time all because some one makes a movie that would in itself never get a rating except the current carryon.
IIRC, there were similar conspiracy theories previously when the share price went UP in the few days after the record date. The theory then was that the price was being manipulated to shaft those in the DRIP by giving them fewer shares. It's gone up quite a bit over the last few weeks, a small retracement is no great surprise.
If you are involved in market manipulation where you are selling to yourself it might work,but I was refering to above board on market selling where i still say it is the cat chasing its tail. Underground all sorts of things might happen but I personally can not see how i could sell on market and profit out of it.John Banks is the man if you want to know how it can be all done where you know nothing about it and still achieve the desired result.
Nothing necessarily to do with conspiracy, question is can it be legally done, for big S/H that opt for DIP can make a huge difference.
Time will tell, S/P dropping from 92c to 79.5 ---IF---- in the near future after Friday the S/P rises for no obvious circumstances to higher 80s or lower 90s would lend some credence to my theory.
I certainly am considering and tempted to put some money buying some NZO/S if the price stays around yesterdays levels.
May keep yous posted on this.
BTW. Digger,any politicians, bankers and S/brokers do not come near enough to rate with me, to take any advise from, thanks.
Dont you think we are just seeing typical market activity .One would think that since the majority of nzo shareholders are not in the drip scheme they should be playing the market better-using the dividend money they know they are getting to buy cheap shares now and simultaneously foil the plans of the drippers to dilute nzo shares .
Digger I agree manipulating the sp may prove to be counter-productive .
The middle east may have positive spins for nz who are not hated like the americans.The dogs of war are gathered in the middle east and the stage is set for Israel to pre-emptively strike Iran.
The world fears the straits of hormuz will be closed so the biggest fleet ever assembled in the middleeast is moving to take station now. Irans main ally syria is destroying itself in civil war .No arab country will move to Irans side . I feel israel is likely to strike soonand this threat to the straits may disrupt shipping with consequent escalation in oil price and nzo sp.
Also nzo most likely will soon get a substantial capital return from ppp to stoke up the coffers further
Maybe the weakness in the share price is neither to do with the DRIP, the Middle East or falling oil price...:
As per their last activities report there was supposed to have been a formal commitment to to drill Kaheru made on September 18th - maybe it's been leaking out that this commitment has not been made and that yet another exploration target falls by the wayside...
PEP 52181 (Kaheru)
NZOG 60% (Operator), TAG Oil 40%
NZOG recently acquired a 17% interest in the
venture from TAG Oil and has assumed
operatorship. NZOG has now acquired a 43%
interest in the venture from AGL, conditional on
a formal commitment being made by 18th
September 2012 to drill a well to test the
Kaheru prospect in 2013-14. Kaheru is a
structural prospect with 3D seismic control
immediately to the south of the Rimu/Kauri oil
and gas field complex on the South Taranaki
coast, and east of the Kupe gas/condensate
field. NZOG intends to reduce its exposure
through a farmout.