From my Inbox - turn on your speakers before you hit the link:
http://www.angelnexus.com/o/web/52246
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From my Inbox - turn on your speakers before you hit the link:
http://www.angelnexus.com/o/web/52246
What a waste of time, 20 minutes and then no names, and then ask for money, biggest waste of my time since I took up golf 60 years ago. Shame on you for promoting such a scam!
I guess its these 2 companies hes plugging, both on Canadian stock exch.
http://www.tagoil.com/east-coast-basin.asp
http://www.newzealandenergy.com/Oper...n/default.aspx
Interesting but you have to take these guys with a grain of salt--they've been around for years with teasers like this .They review here
http://stockgumshoe.com/
First they have to find some decent structures and the chances of finding decent structure - without breach - within the fault ridden belt that is the East Coast Basin has to be slim at best. Then, they would have to be allowed to frac, maybe on a massive scale, and other than with the present government, what are the chances of that? Also the problem with smaller gas discoveries in the basin is the lack of infrastructure so without some big discovery and development it may all be a very slow road ahead. And then NZ having serious commitment to Kyoto and subsequent and huge gas development may never stack up. Finally you have to be careful of the American confidence when they enter a new land. Remember how Swift Energy was on the tail of a billion bbl field in South Taranaki but in the end it just wasn't there - and never could be in the particular play they were tackling.
Book out on Pike River Coal disaster.
Simple conclusion : "Disaster happened and 29 families lost loved ones because "the board and management of Pike River Coal for repeatedly cutting corners on safety in the interests of profit and Labour Department inspectors for failing to take action"
Observation " if they (NZOG shareholders) had any insight into how embedded their company (NZOG) is in the Pike story, they might have come to a different decision."
http://www.nzherald.co.nz/nz/news/ar...ectid=11158015
From NZOG's July 2010 quarterly statement, 3 months before 29 miners died :
"NZOG formed Pike River Coal in 1988,
retained a 30% shareholding when it was
floated in 2007, and has continued to
support the mine through development
and into initial production.
NZOG has contributed a total of NZ$85m in
equity to PRC. At 30 June 2010, NZOG’s
shareholding in PRC had a market value of
approximately NZ$105m. NZOG also has 17.3
million options in PRC and holds US$29m of
debt through convertible bonds. NZOG earns
an interest rate of 10% pa. on these bonds,
which are repayable by March 2012, or can
be converted to additional shares.
Pike River’s construction and commissioning
delays reflect a higher degree of project
complexity than was originally anticipated.
However, NZOG has commissioned its own
technical and management reviews and
believes that, despite a two year delay in the
Pike River mine reaching full production, the
fundamental value of the project remains
intact."
I dismissed these guys as having done dubious research after their opening where they show us a photo of Napier and describe Hastings a a port city. If their treatise about oil seeps is correct NZO should have made billions from all the drilling they did around Lake Brunner in the 80's. Doesn't oil seep also = oil generation but no containment
reservoir?
I think we have to make a distinction between the hype in the presentation and the work that these two explorers are doing. By my reading through the links they are doing some seriously good stuff and could do very well, but just not to the scale as inferred by the presenter. That said, perhaps it's a pity that this sort of hype may grossly distort their market and ruin what otherwise may have been two rather nice opportunities of entry.
Can someone throw that parrot a piece of cuttlefish bone!!