They already do that. The Toke permit (PEP 38499) is a recent example. An extremely promising permit to have a share of.
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Thanks for that, Unicorn, it's always good to have a knowledgeable opinion on the oil prospects. My point, however, is that there has been a lot of discussion on this thread to the effect that since the start of Tui production, NZO has got more money than it needs. M and A has been discussed, particularly in light of the background of the new board member. My query is rather whether NZO might buy into existing permits/licences, either in NZ or elsewhere.
If NZO are serious in thier stated intention to raise the share price they need to be proactive. This morning (so far) the buy & sell queue will match at $1.16 because someone will hit the buy quote at $1.16. If nobody enters a bid at $1.17 before 10.am then the opening price will be $1.16 down 1 cent. This is absurd given record oil prices mentioned in the papers radio etc. It also falls into the hands of the professional trader or broker who is accumulating a stake and wants the share price to NOT rise.
If NZO's broker (who has been given permission to accumulate under the terms of a buyback) bid $1.18 then the share price will open at $1.17.
This process needs to be looked after by a professional broker.
NZO management are failing shareholders miserably.
They will not release dividend policy or protect the shareprice or actively take action to achieve the stated aim of option conversion and the inflow of funds that could be spent on exploratory acreage / producing assets etc.
They seem to think that "presentations" work. Wrong market interaction and buying raise the share price. Their is huge amounts of money being generated. Why state last year that you want the options converted and do nothing.
The presentations are not working - Abn ambro and First NZ do not cover NZO and issue research - so they will not be telling clients to buy.
What does work is market action that generates a rising share price and positive sentiment.
Do not hide behind presentations any longer as a "demonstrable course of action" - do something that will work - buy the shares if you think they are seriously undervalued and worth over $1.50
Please put the shareholders money where the managements mouth is and do a buyback.
I would also ask all shareholders to email or phone nzo immediately and ask when a buyback will occur using $5 $10 of the $180? cashflow generated when "all funds are in place for our 3 major projects"
Do not let them hide anymore you own part of this company! (I have emailed & phoned & intend to at least once a month going forward)
Ladies and gentlemen EXPECTED in nog language means good intentions and in the fullness of time. Now as a follow on but will be seen as a change of subject----
Actually it is this extra time requirement coming from every quarter,except TUI, that leads me to believe that NZo needs to evolve the NZOOD into NZOOE in a ratio fair to both heads and options to allow for this time slippage. Also as NZO is hughly undervalued the heads need continuing support from options to head off what could be a steal takover.
As a disclaimer i would say my personal NZO stake is about neutral given less shares on issue if options laspe should compansate in head lift.However it is irrsponsible to expose the heads to any chance of a cheap takeover just for a short term short in the arm.If the heads were somewhere north of 2-50 to 3 dollars this option pretection would be less essential.
Comments.
http://www.nzog.net/contactus
is the internet address for shareholder enquiries - there are only four boxes to fill out.
dsurf,will do but lets wait for now until after the half is out,could be some stated direction there.Expected late March or thereabouts.
Spot price closed over USD 100!Code:Commodity Price Change % Time
WTI CRUDE FUTURE (USD/bbl.) 100.740 0.730 0.73 14:47