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So it's $30m write-off for Tunisia (excluding incidentals like legal, due diligence, hotels, wining and dining, travel, etc) and another $40m soon for writing off Indonesian investment?
Net cash flow for 1H 2013 was $25m.
Net cash flow for 2012 was $63m.
So basically, it's 1.5 years of earnings and cash flow down the dunny?
Not saying it is written off - it just does not look good, does it?
As I wrote previously, oil rigs leak like sieve when it comes to drilling information.
There are a multitude of people on a drilling rig who can 'tip' off a discovery.
If the Indonesian drill hit oil or gas of commercial quantity, NZOG's sp will be at least 95 cents by now.
Hi Balance.
I can see how the drilling crew would know if there is oil present or not but only the pressure readers would be in a position to know if it is commerical or otherwise. The SP has bounced around a bit lately. On Friday last it hit 89 and I had to tell myself just what I am saying to you now. That is wait for the results what we have here is spectualtion between buyers and sellers.
[QUOTE=Balance;400854]So it's $30m write-off for Tunisia (excluding incidentals like legal, due diligence, hotels, wining and dining, travel, etc) and another $40m soon for writing off Indonesian investment?[QUOTE]
Come on Balance - those numbers are rubbish and you know it.... Tunesia was $3m (as you yourself pointed out to bermuda from memory) and maybe add a mill or so for expenses and we can call it $4-$5m.... but as you also know it has not been written off just yet...
And why do you think Indonesia will be written off - currently they are drilling an appraisal well... what abbout we give them time to appraise...!! The next well is an exploration well, which will presumably give all those who crave instant results a much quicker yay or nay....
[QUOTE=BigBob;400869][QUOTE=Balance;400854]So it's $30m write-off for Tunisia (excluding incidentals like legal, due diligence, hotels, wining and dining, travel, etc) and another $40m soon for writing off Indonesian investment?"A trading halt was requested on Thursday because NZOG recognised that decisions relating to expensing its Cosmos assets produced a result materially different to expectations."Quote:
Come on Balance - those numbers are rubbish and you know it.... Tunesia was $3m (as you yourself pointed out to bermuda from memory) and maybe add a mill or so for expenses and we can call it $4-$5m.... but as you also know it has not been written off just yet...
And why do you think Indonesia will be written off - currently they are drilling an appraisal well... what abbout we give them time to appraise...!! The next well is an exploration well, which will presumably give all those who crave instant results a much quicker yay or nay....
LOL - Expensing in NZOG = write off.
PR man gets a kick in the bum for trying a fast one.
NZO need to improve their PR
compare these 2 announcements
http://www.asx.com.au/asx/statistics...idsId=01397142
http://www.asx.com.au/asx/statistics...idsId=01396951
they are referring to same permit and nzo's is a very poor cousin to OXX IMO.
the OXX announcement gives a lot of insight into the prospective taranui prospect, being updip in the F sands from the taranui-1 well that found oil in the D sands. Ponder about the Oi prospect where nzo have 12.5% which fits in very nicely in the scheme of things.
M
Nothing to do with terrible PR by NZO!
More to do with the mindset of the directors and management.
The kings and emperors of old liked to keep their subjects in the dark as knowledge is power and power is king.
As shareholders of bugger all consequence, just know your place and all will be fine with your investment in NZO.
After Pike River and Tunisia, why should you doubt the experience and expertise of the directors and management in making investment decisions?