Good info Bart, keep it up :-)
Sharp
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Good info Bart, keep it up :-)
Sharp
From memory nzo owned a blocking stake in ppp, as they are jv partners it probably makes smart choice. Owned ppp a long time ago they have been going nowhere for a while now.
I think they have close to 10%....will check up on that
Sharp
PPP Annual Report
http://www.panpacpetroleum.com.au/pd...EPORT_2006.pdf
NOG has 7.59%
Mr Alan Tattersfield has 3.52%
NOG Nominee's has 1.11%
Sharp
How has PPP been effected by the blow out to get tui to production, i'm a bit out of the loop these days on ppp but i guess they will be effected a bit.
Hi bart...Quote:
quote:Bart-Success at Hector would more than double the size of the Tui field and could be tied back into the production infrastructure. And success will have a significant impact on PPP as it will on the other partners. AWE and NZO.
I thought that success as Hector would be a seperate development, rather than just a tie in at tui.....
Yeah bit of a shock today with Pan... I personally was not expecting a re-rating until real close to Hector drill... this situation is probably going to be the case with NZO....NZO investors are mad about the other projects and IMO wont act until they have to...
PPP is a solid little company.... note also that debts are growing and are now in the region of 20million dollars....
[8D]
.^sc
Sharp 737
NZO exercised their PPP options a while back & now hold just over 10% of PPP.
There won't be a takeover any time soon, so long as Tony Radford remains at the helm.
He has already indicated to NZO he is stepping down so he isnt in both the CEO/Chairman roles & this blocking stake secures his position.
NZO would be foolish to sell out before TUI is producing, but i can't see them buying any more shares in PPP other than to remain over 10%, should any further dillution occur.
Shasta
Thanks for that. Yes, I think it is highly unlikely that PPP will be taken over. NZOG had their chance years ago when I think they had close on 60% of PPP. However, one could be wrong but I don't think so. The 10% or so that NZOG has will deter any would be suitors like AWE or whoever.
Sharp
Shasta
I think you are mistaken in so far as NZO taking up th options in PPP.
Yes they have some options and I recall they applied and recieved over subscription in the cash issue.
However as to exercising...they have not...and it would be bloody stupid to do until expiry in any case.
FRED
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Nymex crude back over US$61 / barrel .....
http://www.bloomberg.com/markets/com...rgyprices.html
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