Does anyone know if NZO is require to raise funds for PRC capital raising and further exploration?
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Does anyone know if NZO is require to raise funds for PRC capital raising and further exploration?
Dr, you can be a wheeze!
NZO has:
NZO's committment to PRC has been cut back to $17.5M with this latest move.
- $60M in the bank
- $100M unused Kupe advance
- $8M positive operating cash flow for the quarter after Kupe development outgoings, or $30M surplus for the year
- potentially making a $90M to $100M profit this year ending - June 30th 2008 and no income tax to pay
- the cheek to continue to seek over $200M from shareholders for NZOOD conversion with no published use for our money!
They don't need more money - they hardly know what to do with the cash they are swilling in...
(A legacy of Gordon Ward - who is preparing another cash wallow from shareholder's pockets down at PRC.)
Bermuda,
yes you are right that Mackdunk is a living legend. HE knows I know that... But, I am here to keep him in place...Ive said many times that I rate him as a trader...His 'fully disclosed' performance is uncontestable by others...
How boring is technical analysis... Boy that old dog surely can make technical analysis seem exciting with his beefed up posting...
I prefer to find value in a company, with a tiny bit of charting analysis packed in my sack...
a 5% trailing stop loss is useless with oilers...
these stocks are volatile and 5% could get stopped out before anything happened... I ran AED down 15% or so before it ran 4bagger plus...
same happened with NWE, MEO fell to 90 something cents and then up to $1.60, PRE fell the very day and next after id bought it and then up strong, TEX first fell then went stronger, nzood did something similar...most of my recent money makers in the last year would have been stopped out under mackdunk theory... Id never get anywhere with a stop loss that tight...
lossen that noose MD, thats just strangulation...
:cool:
.^sc
SHREWDY, A stop loss is only tight until you are in the money. Play with their money not yours applies to shares as it does to property investment. Penny dreadfull oilers are a different kettle of fish to predictable miners, and must be looked on as more of a gamble.
I dont gamble, much prefer to stick to what is understandable like market sentiment, supply and demand and the price of commodoties. Macdunk
Hey man,
Ive never gamled in life in the oil sector bar a few times...The times when ive invested into wildcat drilling, the oiler was downside protected because of other valuable company activities gave it that leverage with small losses to be lost on the downside with big up...Just like what happened with nzood, we had multiple company making exporation drills which turned bad... Share price didnot collapse, so therefore it was a savvy investment decision for all those involved... The returns maynot have been wow, but at the time it was a great tradeoff with large potential returns for all of us NZO investors to gain...usually I invest into a penny oil stock with a project/s ....so it is not gambling, and only is if company is dependant on the drill... I took on MEO large in discovery stage and got cold feet after the 6mcf ann, this example is one exception...
yes I gambled on URA, UOGO, WCP and I guess PRE because I didnot really understand the stock...but at the time I took on great advice...
And I guess I had been gambling with market risk....
to say penny dreadful oiler investment is gambling when you are dealing with me is wrong....
tell me one time when I got a call wrong at that time, in the oil industry and Id be surprised...this doesnot include competition results for obvious reasons...:D
TDO is maybe the only one I got wrong that I can recall, which was very recent and that only fell big because of the markets, and possibly far which was wrong timing... TDO is abit more risky than the usualy SC picks as it doesnot have any projects set in development stage... I like its prospects...
:cool:
.^sc
I agree SC. 5 % stop loss in any stock let alone oilers is committing hari curry. 20 trades in 2 months will see you losing 1% of your average investment.
In stable markets and mature conservative stocks then 5% maybe ok.. Like any correction and there will be plenty of them, the shareprice or index will bounce back in a matter of a few weeks. If its more than that then of course there will not be many winners apart from the ones going short.
Aside from all that, FUNDAMENTALLY the FUNDMENTALS are kicking in... positive cash flow, solid balance sheet and a recored breaking P & L will continue to push this share price to record levels by years end. Forget about what is in the past as the pst does not guarentee the future, it merely provides a glimpse of what may happen.
Watch the PR machine kick into action over the coming few months unless the options look like a dead duck.
I had my finger on the buy button for the options over the last couple of weeks but my conservative nature made me resist any unessesary gamble. Even if the sp hits $2.00 by June i have no regrets as i havet lost anything and will still make money on my current investments. However, if i had a spare $20k to risk i would have jumped on the options like a virgin in a brothel. [It is going to be one heck of an interesting year.
Potential NZO investors, snooze and you will lose.
ps.. i see Exon Mobil made a profit of $40b... Could be free sausage rolls at their agm this year with that result.
Agreed, even 7% is too tight. Maybe a resistance-level derived stop is better. Of course you can always buy back in after being stopped out, but TA has it's limitations and is less useful on tiny oilers like the ones SC listed. TA is great for gauging market risk though. As far as commodity companies go NZO is about as safe as they get.
MD.. What last bit?
The bit that says you start with a 5% stop loss NITA. The idea is you buy more trending up with a 5% stop loss but you lower your stop loss on your initial buy when you are in front. When the time comes to sell its last one first unless the market clearly is in a downtrend then its the lot.
EXAMPLE.
AGM bought at 60c another lot at 65c another lot at 70c each had different stop loss levels. I sold the lot in one hit at 98.5c. Each trade is completly seperate as a buy a sell and cost doing it as if it could have been different companies.
AGM i traded numerous times making three times as much as a buy and blindly hold investor. I gave you an example with NZO for instance a few days ago, the stop loss level started at 5% the share rose from 110c to 115c bringing the stop loss up to 110c.
When the stop loss level gets into profit, and i cant lose money, then i can lower it and buy more of the same starting with a 5% stop loss. If i was buying and if it was a good trading share i might end up with five or six helpings each one running on its own with various levels of stop losses. The most important thing with trading is each trade is kept seperate from the next trade otherwise you would end up in a great mess. Macdunk