IMHO, MOOSIE needs to start backing up his negative vibes with some facts before anyone believes his talk anymore. How would that be about 'walking the walk'.
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Actually I think regarding ongoing drilling the rethoric has become extremely careful and realistic - just look how non-exaggerating-anything todays announcement was. Complaints have even be raised about the missing spin in the announcement on this thread. And there could well be an economic return from the Indonesia exercise.
Regarding your other judgements and accusations: you haven't stated any facts backing them up.
You want to get rich balance? Invent something that can tell oil company's what exactly is down there...3km deep with 100% accuracy.
Since 1980 only 4 commercially significant offshore oil/condensate discoveries have been made in NZ waters,
which includes all the efforts of Shell/Origin/OMV/Todd/AWE etc etc.
NZOG has its share of production in two of those, Tui and Kupe. That's not bad.
Yes, its time to find some new ones. But to be realistic, the chances on each particular drill are not that great
in NZ.
The likes of Moosie/Balance will always find fault with anything NZO is involved in - that other and much
bigger companies don't have any better success rates in the NZ environment doesn't interest them.
Note I said at current price....This is as low as its been in a year. Obviously if you own at a higher price (hopefully not) you may not be pleased with the div yield. owning at 80 its good. If you buy for div yield not capital growth and IF div yield stays healthy then share price is only important if you have to sell. Depends on your viewpoint//orientation.
Snrs. Balance e Moosie correcto
To much over head to small sales
not just drilling - they could easily have been buying reserves. this thread was screaming about it in 2008 & 2009 when NOG was Tui rich & evryone was broke. The only investment management made was to double up on further finds in Tui using a vehicle controlled by the then chairman TR. It is a great shame as, if management had been wise they easily could have diversified thier proven reserves.