why has it dropped so much? Nearly 20% on no real news.
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Nzog has a relationship with Genesis through Kupe whereby Genesis takes NZOG 12 % on a take or pay contract. Vector buys the Kupe LPG on the same basis.
The greens/labour proposal will just be a middle market that's all. NZOG's contract should protect them.
NZOG are not very good at informing the market so pundits have to speculate. NZOG are very reliant on Tui oil and Kupe gas for their income and that is dwindling but they are sitting on pile of cash.
They need to explore for hydrocarbons and find something for this puppy to get traction, but they may get that if Pan Pacific finds something for they hold 15%.
I suspect its a selldown on anybody energy in case the greens get power.
Snrs.
I was thinking nzo going down for lower oil and nz dollar up.
To me this green grab pulling labour along may not be the central thing with the falling SP. Look at Tap in Aus. They too have fell about the same amount and early next year have a new well bring on production. You would think they would go up with that news but down it was. I put it down to uncertainty in the world markets and falling oil prices. This gold collapse has had a ripple effect. Also for now there is plenty of oil supply with economies not expected to grow much. And even if that turns out to be not true it is todays story.
https://mail.google.com/mail/u/0/?sh...e41ef61b4a0f58
Is this the right site? if not where should it be???