so both these companies who you tout have seen their share price collapse, as they struggle to sell their dreams.
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so both these companies who you tout have seen their share price collapse, as they struggle to sell their dreams.
quote""Of the 50 wells drilled to date in the basin""
and still no commercial oil recovery projects running.......
I might wait till 1 or 2 wells are commercial then start investing.
otherwise its very high risk stuff.
but........ none the less very interesting and huge potential.......
the question is.... when to invest.
or when to speculate .....
and that depends on your spare cash and risk / reward ratio.
NZO has had a bad run in a proven basin, and the east cost has had what?
50 odd wells and hundreds of seeps.
once one comes in there is lots of room for an investor to see "black"
just my opinion after many years of holding NZO and still carrying a lose with ALL this oil and gas being produced.
The locale Iwi & Hapu are happy, the Gisborne council has a Greenie within their ranks making noises and dirty oil? It's a natural NZ resource the the Greenies call dirty. The permits are signed off, if they don't like it and you agree, I say tough tities as it's all too late.
Go do some homework on the TSX and your then know why. One of the biggest problems with these three Canadian juniors not trading on the NZX or ASX is they go through the TSX where insider trading is out of control. I call them the "Good Old Boys" and you can't let them faze you. You need to understand how it works before you start trading. First rule is never ever panic because if you do, you just got your investment pick pocketed. You can go with the flow and profit take at the same time or just run with longs in mind. Normally you will see the price of NZEC & TAG drop after good news was released, called going against the grain for gain, which both just did and the stocks falls. Keep an eye on highs & lows for a period to pick up the pattern. The investors missing a ball or two sell, take the loss and move on and the Good Old Boys profit on their loss. Any negative news will naturally have the same outcome, but then out of the blue, up she rises. All three stocks are way undervalued because of inside trading and it is because of that very fact that caution on the investors part must be a major consideration. Up to you to be missing a ball or two, not investing, be a Good Old Boy or just be in for the long play. I'm running long.
Understand the TSX & you can sleep at night like me.
And they did get killed, that is the ones that did not learn properly. Great message skid, learn, learn & learn some more. Yep there my be a Taliban bomb hidden under the road somewhere along any investment that will catch out even the smartest bomb squad member, that's investing, oh and being in the bomb squad. Is that not why we are all here? Minimize the risk & reek the rewards.
Govt issues ten new oil and gas permits with 5 of those permits for onshore exploration in Taranaki and the East Coast.
http://www.nzherald.co.nz/business/n...ectid=11167439
The permits awarded were:
Permit Company Location
55781 Statoil Lambda Netherlands BV Offshore, Reinga-Northland
55793 Woodside Energy Holdings Pty Ltd & NZOG 2013 T Ltd Offshore, Taranaki
55794 Woodside Energy Holdings Pty Ltd & NZOG 2013 T Ltd Offshore, Great South Basin South-Canterbury
55792 NZOG Developments Ltd Offshore, Great South Basin South-Canterbury
55790 Octanex NZ Ltd Offshore, Taranaki
55768 AWE Holdings NZ Ltd & Mitsui E&P Australia Pty Ltd Onshore, Taranaki
55769 TAG Oil (NZ) Ltd Onshore, Taranaki
55770 Eastern Petroleum (NZ) Ltd & East West Petroleum (NZ) Ltd Onshore, East Coast
55784 Petrochem Ltd Onshore, Taranaki
55789 Mont D’Or Petroleum Resources Ltd Onshore, East Coast