Fact is the company has a long and ignominious track record in that regard. Any attempt to value on a NTA or DCF basis does well to be prudent enough to fully account for that.
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Looks like NZO is out of the oil and gas business. Just need to sell the office then cash up?
PPP has the whole story of TUI sale better explained. There they show that PPP will pay money and transfer assets. Best is that they show the 15 million of shut down cost set aside can now go back on books as profit. Well that is how I read it.
So how much did NZO set aside for closes down expenses. I can not see this figure. Anyone know or do I have to ask the company?
1.548 million (for Tui) as per annual report 2016 balance sheet
Attachment 8682
Makes me think of Amy Winehouse. (I dont wanna go to rehab)
Indeed
Attachment 8683
but given the notes specifically linked the current liability with Tui I didnt mention that ;+)
I got out at 64 cents nearly exactly 3 months ago, it was a loss, but quite happy as the share price has barely been above that since
Still watching NZO to see 'how things pan out'. What worries me is that they make no mention of returning all cash to share holders asap, rather returning some (maybe) and looking out for 'great investment opportunities'... they have sold off their best, most efficient, most well known, and most effective assets and now want to try buy something else? They had tonnes of cash a year or so ago and instead of buying up good value assets at Briscoe style sale prices... they decided to focus on a share buy back... here we are today and oil prices are stabilizing (increasing?) and they've just sold them all off, at questionable valuations... doesn't give me alot of hope they will handle this 'new found' cash terrible well, other than buy a few more friday night drinks, and maybe get a new company car or two.