I have sent a message to the webmaster. its most frustrating.
And why the sudden drop in the sp just before close?
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Too true Blockhead.....looks like a cot case to me!!!.....Im at a loss to think what f... is going on! NZO will pay a dividend first time ever, well at least in my share trading life time and we have a big drop!!!???
Yes tomorrow will be interesting! I havent read of any possible dividend so I thought the news of a small dividend today was good news and would have expected at the very least for the SP to hold its own.....whos selling all those shares at the end of days trade....I looked 10 mins before close and was looking stable, I get home now and we have done the dive!!!! and on big volume!
Is there bad news just around the corner?
Did some big investors know there was a dividend but expect more?
Lots of questions and no answers again!
Lets see tomorrow :(
The divy was actually announced back on the 27th Feb, entitlement date is 4th April and payment 15th from memory, so no surprises there.
Noodle no big players involved. The following was part of the NZO announcement on the 27th February 2008. All available on the NZO website.
Dividend
The Board of NZOG has resolved to pay a fully imputed dividend for the
2007/08 financial year of 5.0c per ordinary share. This recognises an
outstanding period and provides shareholders with an immediate share of that
success.
The Board has determined a dividend policy that in future a reasonable
proportion of profit will be distributed by way of an annual dividend.
The determination of entitlements for the 5.0 cents dividend will be taken
from the close of the share register on 4 April 2008. The dividend will be
paid on 15 April 2008.
Oh ok. Was 5cents announced?
Any ideas on why the drop?
Thanks 777, was replying to previous message and on phone to mrs when you replied to my earlier comment. Never saw the announcement of a 5cent dividend, been far to busy with work and house renovations and dont actually recall receiving an email from NZO about it....never mind...tomorrow is another Nog day!!!
Some influence from Aussie and the Asian indices perhaps. Hang Seng down 4.8%, Europe gapping down by 2% figures.
Kupe gas field has escaped into the atmosphere?
Help!!!!!
Business StoryRSS Facebook
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Kupe to get the good oil after breakthrough
5:00AM Friday March 14, 2008
By Grant Bradley
The Kupe field is expected to produce 15 million barrels of light oil.
New Zealand oil production has reached a milestone with one of three Kupe wells breaking into a target reservoir.
The Kupe field off south Taranaki is expected to produce nearly 15 million barrels of light oil when it comes on stream around the middle of next year.
Kupe was originally thought of as a gas field to replace a portion of the diminishing Maui field but with oil prices through the roof, up to two-thirds of its value could be in liquids.
The life span of production is estimated to be 19 years.
Drilling is on target and the bulk of the work on the $1.2 billion project is now onshore, building processing facilities to process gas, LPG and light oil from the field 30km offshore.
Further north the Tui field has been producing since the middle of last year and is on target to reach the 10 million barrel mark next week.
The major offshore Taranaki projects - Tui, Maari, Kupe and Pohokura - will reach peak production by about 2010 and bring 140 million barrels of new reserves into the market.
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AdvertisementTotal oil production will then be at a record level not seen since Maui was at its peak.
An estimated $3 billion is now being spent on major projects in Taranaki and an estimated 30 wells for exploration, appraisal and development are to be drilled around country in the period between 2007 and 2009.
The message from the Petroleum Conference in Auckland this week was to expect the hunt for oil to get even more intense.
New Zealand Oil & Gas holds a 15 per cent stake in Kupe and 12.5 per cent of Tui.
Its chief executive David Salisbury told the conference New Zealand was "small fry"on a global scale - producing just 0.2 per cent of world oil supply - and suffered from its limited domestic market and labour pool.
Being geographically isolated there were few industry participants and experts and no oil infrastructure outside Taranaki. However, this country was relatively under-explored, there were identified basins with good potential and unlike other countries New Zealand offered a safe, secure location.
The company has flagged a $20 million to $25 million exploration programme for the next financial year.
With easy hits disappearing around the world, New Zealand was looking like a better exploration option, he said.
Further down the track, the Raukumara sub-basin off East Cape has shown early promise of what could be billions of barrels of oil.