Thanks Fred
You are quite right & i stand corrected.
On a fully dilluted basis (assuming NZO take up all options held), they would hold just over 10% of PPP.
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Thanks Fred
You are quite right & i stand corrected.
On a fully dilluted basis (assuming NZO take up all options held), they would hold just over 10% of PPP.
I wasn't convinced about John Campbell's "no buy order" but hugely effective ramp of PPP. PPP is not to my thinking the best option for exposure to TAP. Here's why:
Estimate that TAP will produce 30M barrels of oil for revenue less operating costs NZD50 per bo: say NZD 1500M
(lets ignore other financing / loan issues for the purpose of this exercise)
NZO at 90c, 200M shares on issue, 12.5% of TAP, CFD Margin 10%
Invest 9cNZ buys exposure to 94c from TAP
Exposure ~10c / c invested
AWE at 270Ac, 450M shares on issue, 42.5% of TAP, CFD Margin 5%
Invest ~15cNZ buys exposure to 141c from TAP
Exposure ~9c / c invested
PPP at 20c, 400M shares on issue, 10% TAP, No CFD
Invest 20cNZ buys exposure to 38c from TAP
Exposure ~2c / c invested
For the purposes of simplicity I have left out the oppies as they are a different punt altogether.
Not really convinced Bilo.
Pay back is going to be in some 3-4 months or so....that's one heck of a lot of money coming in after that even with the field rates beginning to tail off. And it looks highly likely that there will be a reserve upgrade with a 20m oil column found in Tui as compared to a 10m column on the first exploration well. And all going well, Amokura and Pateke with the same oil/water contact level? The next development well there is going to be intersting.
And what are they going to do with all that extra money after the loans are paid back? If Mr Tattersfield has his way, we could see some real investment in other oil projects, not just exploration, similar to how AWE operates. Now if this the case, and this is without even looking at Hector and Taranui etc., then we could see a little minnow become at least a fat sprat and then....who knows?
Of course, that is only my view and I could be wrong. It's the "unknown" factor" here that could be quite exciting.
Sharp
Bilo,your comments for PPP are probably near enought if the status-quo remains.However PPP of the three you compare has tui as the biggest part of it's makeup and will be hughly affected by an upgrade that is looking very likely.What you are seeing is positioning for the leverage play. I certainly have not got my PPP's up for sale at these prices after this small upward movement.
And perhaps it's just a matter of time before the Institutions start making a play for PPP. Easy money I would say.
Sharp
With all the action now starting to appear and with Hector yet to be drilled I am glad I held on to my PPP options.Could go an awful lot higher.
What is the likely hood of AWE moving in on PPP
OTM
NZO still effectively hold a blocking stake, so unlikely AWE would move on PPP, although NZO used to hold 50% + of PPP & have sold down before.
you are so right
NZO gave PPP shares to NZO holders on a 1 for 1 basis and kept the rest. but I can't pin point a time.
It was after Feb 00 and before Dec 04
I got those ppp's and it was a long time ago so without looking it up i would say about 2001 or 6 years ago.So who is the historian to search the records just to see when it really was??
Digger...
pretty good guess...
market release of PPP distribution on 19-12-01....
PPP listed on the NZ market on 14-jan-2002....
on the 19th-12-01 NZO's SP was 41cents closing price...
by the 27th March 2002 SP fell to 32cents....
I guess no-one was any better off by the distribution as Market Value of NZO fell by the amount of the PPP distribution...
[8D]
.^sc
Director Alan Tattersfield appears to have exercised options for 15.7 m shares to take his holding to 49.7m, that's 11% or more of the company. Hmmm, looks good when directors buy up!
Lion,Alan Tattersfield did not here buy shares he converted 15,725,698 of his options. The real question is why did he do so this early when it is not required until end of june this year.Maybe there is something i do not know. One reason could be personal as in the shares give voteing rights that options do not. Maybe to my way of thinking something is coming up before options need to be converted that he wants the extra power of an additional 15 million heads. But i am just quessing. What are your thoughts??Quote:
quote:Originally posted by Lion
Director Alan Tattersfield appears to have bought 15.7 m shares to take his holding to 49.7m, that's 11% or more of the company. Hmmm, looks good when directors buy up!
Digger, yes you are correct, he exercised options. (I did make a change in my edit). As for the reasons, who knows? Your guesses are usually pretty good. But it would seem positive for the company, whatever the detail of his motives.
Edit (again) he did spend A$2.4m - a vote of confidence, surely.
PPP and NZO plus their options must surely be the hottest stocks on the market over the next few months.The only thing that could destroy that is a huge failure at Tui.And that is still a risk.
But the Directors of PPP, given their current buying, would seem pretty pleased with progress so far.
maybe ppp needed the cash
M
Yes, because of the extra cost's now
Sharp
PPP
03/04/2007
MINE
REL: 1613 HRS Pan Pacific Petroleum NL
MINE: PPP: Tui Development reaches key milestone-03April07
STOCK EXCHANGE ANNOUNCEMENT
3 April 2007
Tui Development reaches key milestone
Pan Pacific Petroleum NL reports that the floating production, storage and
offtake vessel (FPSO) Umuroa has sailed from Singapore and is heading towards
its field location in New Zealand. The vessel departed Singapore on April
1, 2007 and is expected to arrive at the Tui Area in mid April.
This event will be a key milestone for the Tui project.
The Tui Area Development is located within PMP 38158, in the Taranaki basin,
approximately 50 kilometres offshore of the west coast of the North Island of
New Zealand. First oil is expected from the development by June 30, 2007,
and when fully commissioned, a production rate peaking at 50,000 bopd is
anticipated.
Participants in PMP 38158 are:
Pan Pacific Petroleum NL (through its subsidiary WM Petroleum Ltd) 10.0%
New Zealand Oil & Gas Ltd (through Stewart Petroleum Company Ltd ) 12.5%
AWE New Zealand Pty Limited ("AWE")
20.0%
New Zealand Overseas Petroleum Pty Ltd ("AWE") 22.5%
Mitsui E & P New Zealand Limited
35.0%
K M Ware
Company Secretary
Sharp
Go you good thing.
Indeed OTM...long time coming..as I recall u were one of the ones that swapped a few into this minnow?
F
Yes more than a few. Great memory Fred
"lengthing of Tui-2H production well horizontal section which intersected a more extensive oil column than predicted"
wonder if Tui Oil reserves may soon to be increasing??
[8D]
.^sc
Shrewd Crude ,as tui-h3 was neutral we so far have only a smaller increase to look forward to. Amokura and Pateke will be where the final call will come from ,and we should remember an increase there is less likely that at TUI for reason i have stated several times before. You should note that i do not hope any of that but think it best to go into it conservativly. The offical line is do not count your chickens before we know the size of the basket.
cheers for reply digger...
Im just looking at possible situations that can spur SP b4 production...
I will have to go back through the thread and have a peak...
less than 100 days to production...
happy to be back on board...
lata...
[8D]
.^sc
There is a very interesting article from Oil & Gas Weekly posted on HC.
Yeah JC is very confident of PPP with potential to go well over $1 ASX on hector success
Sounds good to me after doubling my PPP holding at 15.5c
cheers Kent,
good to see my norwest getting a small note...
that article mentions something I have been seriously thinking about, which is to sell my holdings (nzood) just prior to the big hector announcement...
they put it at 10-20% success chance...
with the massive amounts of upside, im thinking of holding all the way on this one... $1 PPP... has gotta put NZO around 2, 2-fifty...
$1 ppp can seriously be misleading I add...
$1 is a figure which will still take many years to achieve as we would be looking at 3 years bare minimum until first production...
when it was one year from first tui production, the project was seriously discounted...realised valuations have only just flowed through...
[8D]
.^sc
Not necessarily. I remember when Santos discovered Jeruk, and it was first thought to be a giant find, Cue shot up from 7 cents to 42 cents purely based on this discovery, within a very short time.Quote:
quote:Originally posted by Shrewd Crude
$1 ppp can seriously be misleading I add...
$1 is a figure which will still take many years to achieve as we would be looking at 3 years bare minimum until first production...
So I think it's not entirely impossible to see a dollar in case of a Hector success.[8D]
Kent...
I remember the CUE situation quite clearly... Ive followed Cue for longer than any other share...
cue was the reason why I got onto oil shares, and in particular penny ones...:D...
Around the same time as the Jeruk announcement, Cue announced development go ahead at Oyong, and increased reserves there, and shortly after they bought a stake in Maari...(on the cheap)... It was a double whammy on the SP with Oyong...
the 42cents alone didnot fare up the real value of Jeruk to Cue (at the time)... Santos interpretted that Jeruk contained 750million barrels (as you said, giant field).... another company interpretted that it was a one billion barrel field plus.... analysts expected this to add $1 to Santos SP....
for Cue's 13.5% stake of this monster field hardly values in the real value for a jump from 7 to 42cents alone even if we ignore the double whammy....
Full valuation at the time would have had Cue well over $1.5....at a guess
(with net oil to CUE expected 70-100million barrel)...
recently Santos interpretted the field to only contain 50million barrels...
on massive downgrade of resource...Cue's suffered ever since...
a stock that im looking at a re-entry for Maari production...
as re-rating will unfold there also...
[8D]
.^sc
ive also said this before,
with all the hype around NZO many years back...
SP went crazy, and projects were fully valued at the time, markets had seemed to value NZO's projects as if they were at production date, but yet they were still years out...
hence the situation of sideways SP for the last umpteen years...
currently an undervalued stock with tui re-rating expected before or on tui production...
IMO, im expecting something similar to a possible Hector discovery where a 3 year development at Hector would initially rise on oil strike... but still remain undervalued for most of the time through development stage...
then a re-rating... then production with another re-rating...
to value projects at full value at oil strike, with no tie in , is murderous....
PPP $1 at Hector oil strike would put it at $1.5 at production in my books...
[8D]
.^sc
Shrewd Crude, your summary of NZO sp movement these last umpteen years is the way the market see it as well,but it leave out the most important events that when included can not be projected into the future and then say a Hector discovery will have the same impact.That is Rita and Katrina caused a world wide cost increase on exactally the resources required to develope TUI. Also never again will the company develop three projects at once with nil income.
So a hector discovery post income will not send the SP down the same path as in the last upteen years.If anything a very different path will ocure. The market will this time be much more consertive,knoledge on how to handle Hector will be from experience from TUI and income will be incoming to take care of any extrordinary events.
So while i agree with the past summary it will not be very good indication of the future.
digger,
what I said was that Id expect development to go straight ahead, and be producing in 3 years to 3.5 years... rather than Hector returns following the same path as in the past...
Also NZO's past performance probably could have been put down in part to mums and dads, where NZO was their first experience in that sector... and did not understand the time value of money and discounting, and undervaluation... and the share number of Mums and dads talking NZO and driving prices up...
undervaluation, because now is the time when they should be getting in, and they cant see it undervalued, because they see a past umpteen years of poor returns...
Discounting projects is a very important idea, while you wait 3 years for your project to produce, you could make a return elsewhere such as cash in the bank earning interest...
...along with added undervaluation of the stock because of all the risks...
yes Rita and Katrina caused budget increases, it also caused oil prices to rise...Quote:
quote:That is Rita and Katrina caused a world wide cost increase on exactally the resources required to develope TUI.
strained supply we are still suffering from today buddy...
Rita and Katrina make the production stage far more lucurative, at a tradeoff for upfront increased costs...(production stage less than 100 days away, and yet calcs still have oil valued at 45 bucks, or 50bucks...
time to start increasing target prices me feels.
Discounting and undervaluation in the oil industry is norm (mostly for the stocks heading into production some time in the future)...
yes there are a few companys like NZO that go against conventional approaches to valuation...
my saying for the day....
One barrel in the hand is better than two barrels in the bush.:D
Lion, so 466million barrels in the hand is better than 1.4billion barrels in the bush:D
20 bagger on the od's... if we strike a capital B then why not...
heres a question others might be wondering aswell....
So we are going to drill Hector first, and if its a failure then redrill tieke...
or if Hectors a success, then drill hector south? as then there would be a far more attractive drill...
So are we looking at two drills that depend on what happens at Hector?
[8D]
.^sc
SC, aren't the only barrels really in the hand the 30m in the Tui area?
Hmmm, who knows what the drilling program is now. Operator AWE's activity program was last updated in Feb and shows just Hector and Taranui 1 after the Tui development. Hector starting end of April, but we know Tui is running a bit behind. No mention of Tieke or Hector South. I wouldn't think there's much flexibilty in the rig's schedule, altho as AWE is later set to drill West Cape, they might, just possibly, prefer to do Hector South if Hector 1 looks good.
Exciting times, I reckon. Having billion-barrel-in-the-bush dreams!
no... currently there are no barrels in the hand...Quote:
quote:Lion-SC, aren't the only barrels really in the hand the 30m in the Tui area?
barrels in the hand will hopefully grow at 6250 net to NZO from Some time in June...
not in the hand, until actually in the hand...:D
the 1 in the hand two in the bush Is just an old saying mate...
at the moment 30 million is coming out of the bush, still hasnot made the clearing... the 1.4 capital B is still amongst the shroud...
[8D]
.^sc
Help! I need some counselling! I'm feeling guilty about having taken 185,000 PPPOA off some hapless seller just a few days ago for 4.1 cents. What shall I do?!
If they find stuff at hector u sell 500 PPOA for 4.1c.
Thanks, yes, what a grand idea.Quote:
quote:Originally posted by Tok3n
If they find stuff at hector u sell 500 PPOA for 4.1c.
I feel the pangs of guilt have disappeared already.
See if you can out-gloat macdunk on Share Investor NZ and ShareChatQuote:
quote:Originally posted by COLIN
Help! I need some counselling! I'm feeling guilty about having taken 185,000 PPPOA off some hapless seller just a few days ago for 4.1 cents. What shall I do?!
Impossible!Quote:
quote:Originally posted by Paper Tiger
See if you can out-gloat macdunk on Share Investor NZ and ShareChatQuote:
quote:Originally posted by COLIN
Help! I need some counselling! I'm feeling guilty about having taken 185,000 PPPOA off some hapless seller just a few days ago for 4.1 cents. What shall I do?!
a 12.5% drop.
did the director die?
or is a fatcat trying to wobble the SP to get a few more before the oil flows in 60 days?
or are the options draging down the SP because of a late hector drill?
sorry.........
i just remembered who the director is.
the SP should of doubled with news like that!
A few cents drop, on minimal turnover. Someone wanted to quit a few, and there were no buyers.Quote:
quote:Originally posted by neopole
a 12.5% drop.
did the director die?
or is a fatcat trying to wobble the SP to get a few more before the oil flows in 60 days?
or are the options draging down the SP because of a late hector drill?
???????? BFDQuote:
quote:Originally posted by COLIN
Help! I need some counselling! I'm feeling guilty about having taken 185,000 PPPOA off some hapless seller just a few days ago for 4.1 cents. What shall I do?!
4.5c today, perhaps you should cash them in and buy a lotto ticket.
End of day quote in Oz was PPPO 5c to buy, sell 5.9c...looks like they are starting to rise again....which I think they will as the pressure will build as we near the date for production. If PPP extended the options another month or so it would be nice but probably won't happen. Hector will be later than first envisaged and I think they started Amokura 3rd April or thereabouts and might finish that soon as they are around 1200m on the horizontal section. Then they complete the casing and move to the Pateke site and start drilling in say 7-10 days? And then another 5 weeks for Pateke and start Hector 14th - 20th June??? Interesting.
Sharp
Thanks to the punter who talk my oppies off me for 7 cents. Good luck hope it works out.Quote:
quote:Originally posted by Gofor Broke
???????? BFDQuote:
quote:Originally posted by COLIN
Help! I need some counselling! I'm feeling guilty about having taken 185,000 PPPOA off some hapless seller just a few days ago for 4.1 cents. What shall I do?!
4.5c today, perhaps you should cash them in and buy a lotto ticket.
Just bought some more PPP's and looking to possibly buy more :-)
$$$ for jam IMO
it took around 32days to setup and drill the amokura well,
so the last well could be drilled in a similar timeframe putting the completion of drilling somewhere in the 17th to 21st of june.
so the oppies are out of the gamble for hector.
but still in play for about a week or so for the start up of the tui project.
the last 2-3 weeks of june will be exciting for PPP options.
im glad im comfortable with my share of heads.
announement on april 2 for spudding of amokura = 43 days to drill & complete.Quote:
quote:Originally posted by neopole
it took around 32days to setup and drill the amokura well,
so the last well could be drilled in a similar timeframe putting the completion of drilling somewhere in the 17th to 21st of june.
so the oppies are out of the gamble for hector.
but still in play for about a week or so for the start up of the tui project.
the last 2-3 weeks of june will be exciting for PPP options.
im glad im comfortable with my share of heads.
4th hole has already been drilled to about 1500 m and sub tree installed - so one would expect about 4 weeks to complete once OP has re entered hole = something would be wrong if not completed by june 15.
Still have 40,000 ppp oc's and expect will be converting them prior to Hector getting exciting come mid July.
IMO the excise date will not be extended - ppp need the money to help retire Tui development debt and since oc's in the money now then why risk Hector being a dud with an extended excise date.
The real excitment will be as Hector passes 3,000m - oc's will be no longer be a distraction, leaving PPP pumping Tui oil and their share price rocketing up to new heights - might even put a sell bid out now, say 50,000 @ au40c ready for early July.
M
Correct there ,the machine. Pateke could take up to two weeks less time somewhat depending on the final length of the horizontal drill. So i suppose if it takes a long time that is good news. We have to grab indications from whatever piece of info there is as they have decided to no longer tell us how long the drill is or the oil bearing column height. No news as we now have will get taken as bad news but that might not necessarily be so,but it becomes the best quess in the dark.
Check the depth out... I am thinking about taking out the sellers....
Onthemoney - that would be a good move.
On the weekend it was reported that NOGs first full year ebitda from Tui was now expected to be $70m, up from $60m. This extra $10m equates to 4c per NOG head share.
PPP has 10% of Tui against NOGs 12.5%, so should be fairly similar, and for PPP it equates to an extra 2c or so per share.
Yeah I have done it a few times before - CDI was a great one for me....
Does anyone have a pdf of the exercize form, or a link to it? One would think that it's on their website, but it doesn't appear to be.
its not on the websiteQuote:
quote:Originally posted by KentBrockman
Does anyone have a pdf of the exercize form, or a link to it? One would think that it's on their website, but it doesn't appear to be.
on the back of your original notice of entitlement there is an excise form, but of course that does not help those bought on market.
frankly it should be on the website, but also ppp should send a notice that should include the form.
we had following exchange back in march.
----- Original Message -----
From: Maureen Dunmore
To:
Sent: Thursday, March 29, 2007 7:46 AM
Subject: Re: ppp options
The conversion form should be on the reverse of your Holding Statement.
We can send a replacement if you do not have your Statement, but you will need to advise us of your Holder Number.
Regards
----- Original Message -----
From:
To: registries@registriesltd.com.au
Sent: Thursday, March 29, 2007 9:06 AM
Subject: ppp options
please advise if there is a form that can be downloaded so one can exercise their options
m
Why do you need a form???
Just send your cheque to the share registry with a note containing your shareholder number.
I noticed via AWE that PPP has gained a new exploration licence, adjacent to the Maui field.
Must have quite high prospectivity, purely due to its location. 2D is planned and one wonders why PPP doesn't bother announcing this.
ppp have an announcement out re excising optionsQuote:
quote:Originally posted by Wiremu
Why do you need a form???
Just send your cheque to the share registry with a note containing your shareholder number.
M
ppp has drip from it all time high
it is some thing happening
I think that there are two factors causing the share price to drop. The first is the drop in the oil price. The second is that the price of the head shares is likely to come under pressure in the period leading up to the exercise of the options as some individuals look to sell heads to exercise options.
Corporateraider,
Yes, you have to be very careful holding Stock coming up to option exercise date.
PPP have held out well because there is so much good news in the pipeline. I suppose the news that the pipelaying vessel had blown an engine requiring 10 days shut down didnt help either but Bruce Philips says things still on track for oil 30 June. I reckon it will be 2 weeks later.
Sold some options out at 8.5 to get a bit of cash to buy into the forthcoming Pike ( NZO ) float.
2 weeks later Bermuda [:p][:p]Quote:
quote:Originally posted by bermuda
Corporateraider,
Yes, you have to be very careful holding Stock coming up to option exercise date.
PPP have held out well because there is so much good news in the pipeline. I suppose the news that the pipelaying vessel had blown an engine requiring 10 days shut down didnt help either but Bruce Philips says things still on track for oil 30 June. I reckon it will be 2 weeks later.
Sold some options out at 8.5 to get a bit of cash to buy into the forthcoming Pike ( NZO ) float.
Paddie (you asked for it):D:D:D
Paddie,
You have done it again mon
That's why I mentioned it mon.
Okay I should have put a few !!!! after the word 'later'
Of course, production is getting so very close now and there will be NO looking back once the oil starts flowing. Then of course, the drill of Hector is extremely close too. Will be very interesting but I would say there is going to be one heck of a lot of people wanting in on the action pretty soon options or otherwise. Too much of a no-brainer that this share is going to rocket IMO.
Sharp
if asx is any guide, then ppp looking for a good jump in nz on tuesday.
there was some broker report in the weekend press showing ppp as a speculative buy - bit of an understatement IMO.
M
-With the way the price of oil's going PPP is an absolut screaming BUY -Once the cash is flowing into PPP's coffers so will the SP rise
Not selling 1 share under 30c
Someone sold their options for 6.5c on the NZX yesterday.
Thought that was a bit of a bargin.
Something is going on which deserves an 'enquiry'.Huge volume and upwards rerating. Could this actually be a take-out?..or just a wise positioning.Pleased I didnt sell all my oppies.
Oil prices heading up and PPP is going to be a producer soon just in time to take advantage of those prices.
I doubt they will get a speeding ticket.
Whoever sold those options at 6.5c yesterday, must be kicking themselves today.
Tok3n ,do not think your reason is sufficent to explaine the sudden rise to 30 cents. Most of what you have said is already expected by the market. Think bermuda is on to it----we need an explanation for this big rise as welcome as it is. I can not believe that this rise is as slow realisation of what the market has always known. Something is up.
Good point, especially seeing they had to recover some drill bits (hence possibly delay) and NZO isn't doing much at the moment.
If its takeover, who is a potential buyer? TAP? I doubt any of the JV partners in Tui, Hector etc would do a takeover.
I have always thought AWE would take PPP out.AWE sure love their acreage in offshore Taranaki and with Eric Matthews on board they know all about PPP's other interests.
But....NZO are also looking for some lovely fillets to put into the PAN.
$.4.1 million traded today on the ASX...so far
And ofcourse someone could have amassed a sizeable stake via the options without disclosure (yet)
F
It was unreal today watching the ppp & pppo moves.
At one stage there was a 2c gap between ppp and pppo plus excise price of 15c.
IMO following the buy report in the weekend press and yesterdays jump, then ppp is a hit with the day traders.
We did not partake as it means incurring a tax liability for this year ending June 30
Come July then will be interesting seeing the substantial shareholder notices.
M
You thought yesterday was interesting watch today....
You know something Onthemoney?
Check out the early sale this morning....
22.6 MILLION SHARES THROUGH!!! What the....????
How many shares do NOG have? Maybe they are dealing?
F
Wown they got them at a good price too
NZO's May announcement stated:
PPP shares held: 43.8million
PPP options held: 19.5million
Yes a good price. Who sold but who purchased? Looks like the takeover action is nigh.
NZO sold to AWE is my quess(only)....and they did a deal on more acreage close to Tui.
F
Announcement on the ASX made just after market that NZO did indeed sell them, but to who?
TAP has just over $100m cash at present, could be them?
Well, the fact that NZO no longer have a 10% blocking stake
could open the way for some T/O action [:p]
That is the right question,and the answer will most likely be soon coming. If they were sold to one party,then the buyer must become a substantial holder and we will get a release to the exchange. With 433 million shares it take 21.7 million to be more than 5% so the 22.6 million if sold to one party will require an stock exchange release. Also that assumes the other single party held nil before the recent purchase,so they could be well over 5%.Quote:
quote:Originally posted by Sehnsucht888
Announcement on the ASX made just after market that NZO did indeed sell them, but to who?
Digger
You are onto it however the plot thickens. Latest 3B with option conversion has 450 559 863 shares.....so still below 5%.
If there is no SSH notice tommorrow and considering recent volumes and upside...we have 2 suitors.
NOG will have sold to AWE. AWE srcip bid likely IMO.
F
nzo now have ready cash to exercise their options @ either 17c nz or 15c au - the later will probably be the go.Quote:
quote:Originally posted by grumpy
Well, the fact that NZO no longer have a 10% blocking stake
could open the way for some T/O action [:p]
thus nzo will regain their blocking stack if they want do.
daresay they sold to a friendly company/person.
M
Indeed but it raises the stakes significantly with another 5% odd holder.
F
ok, lets hope for 2 interested parties so we can into a bidding war (I thought the Hector drill was going to be entertaining enough :) ).
Drill thrill.
With this one it is both drill and takeover thrill.
Hold on to your nads.
Turbins
F
I get a Tradingroom portfolio update from Fairfax daily at 1910 UK time for PPP Aus opening prices; but not today yet. Why is that?
SSHO: PPP: FORM 604 - NOTICE OF CHANGE IN SUBSTANTIAL SHAREHOLDING
Details of Holder
Name: Tattersfield Group
Class of Securities: Ordinary Shares
Person's Vote: 52,844,752
Voting Power: 12.2%
Last year annual report has Allan Walker Tattersfield as holding 15m shares, 3.5%, so hes been buying up a few !
Searched internet, his name comes up from Justice Dept as a licensed second hand dealer.
Must be lots of money in other peoples junk.
Tatts ,try Walker & Hall Ltd , one of Auckland's & Kings College top 40, a very successful investor!
Looks like if you want to get a good holding in PPP, you can get that by buying the options at A9c or NZ10c with heads at A26c or NZ28-30c (small payment down now and less brokerage) and then exercise them before end of the month.
The saving could be anything from 1 to 2 cents a share plus the saving on brokerage.
One friend of mine was talking about borrowing heaps to buy into PPP. Now that is risky at any time but I can see why he wants to. No way is this share price going to stay at these levels. We have a good one here barring a worldwide disaster. Good fortune to you longs and new entries!
Sharp
Sharpie,
yes, quite unbelievable that people would buy PPP at 30c when they
could buy them for 27.5c via PPPOA, a 8.3% saving.
Efficient markets? (Where are the arbitrageurs closing the gap?)
Rational investors???
Hahahahahaha
Grumpy, Sharpie
Even in Sydney where trading volumes are much higher there is a 2 cent anomaly between the options at 9.5c and the heads at 26.5c. The heads can't be showing their true value with all these cheap options lying on the floor. Must be a lot of punters with options who don't want to stump up the cash to exercise them.
Mx
Yeah, think you're right there manxman.
7M shares through before market even opened @ 30c
http://www.directbroking.co.nz/direc...=NZSE&QQSC=ppp
That 7m shares went thru at 25c. Wonder if NZO dumping a few more.