Give the share registry a call. I think it will just be timing issue though. They probably issue the new shares in batches once a week or so.
Printable View
Hold. Try not to give in to fear and lock in the loss. (My last purchase was at $1.62 - but the rest of the market has been going belly up anyway -
so there would likely have been 'loss' anyway. Ces't la vie, Que sara, es nada. This drift in NZO is artificial, 200 million raised in a small country is a big ask and it seems that there's an army of folks out there acting like reef fish becuase they are really speculators rather than long investors)
By the end of the year - Noggers will be sipping champagne on the decks of the good ship 'Profit'.
Shephejame
Sounds like you entered into NZO without a strategy.
Buying in at the beginning of a weakness and now you are considering selling out at the end of the weakness.
I think you best plan is to hang on, except your timing was wrong and wait to see what happens after the NZOOD are converted.
This conversion will suck a lot of funds out of the small NZ exchange, but much less influence on the Aussie side so I expect these indigestion pains will be more so on the NZ side of the Transman. Watch the leads from the ASX, I think the momentum will come from that side of the ditch and will lift the NZO price here. Not sure how much of the worst kept secret (tui upgrade) is factored into the present price.
I assume all NZO needs is good news and the down-trending share-price will end
Maybe today's article from the NBR will help in your decision.
NZ Oil & Gas poised to boom
By Mitchell Hall
Tuesday June 17 2008 - 05:20pm
The price of shares in NZ Oil & Gas is currently undervalued according to Forsyth Barr analyst Andrew Harvey-Green.
He says shares in the company, which are currently trading at $1.52, are likely to reach $2.15 following an expected announcement about additional reserves at the Tui field.
Mr Harvey-Green says the company doesn’t need the cash, but could raise over $200 million as institutional investors wait till the last minute to exercise their options.
With the Tui field grossing $900,000 per day at current oil prices, the Kupe field set for completion in mid-2009, and commercial production for the Pike River Coal development scheduled to start in July, Mr Harvey-Green describes NZ Oil & Gas as a sound investment.
Option Exercising is always a shareprice destroyer.
If Forsyth Barr value NZO at $2.15 then you can bet that NZO will go a lot higher than that.
It seems like mum and dads are selling the house and the kids to buy some NZO..... LOL
arranging a mortgage as well as margin lending to ensure i can convert the options -looks like it only takes 4 days with the asb to arrange a mortgage--orbit-revolving- so only pay on the overdrawn bit-and only 10.95 % pa
Have to do this as i would be kicking myself if i sold options now at 3 cents plus conversion=$1 53 when i expect them to double-just like prc did-within a few months of the options ceasing .
As bermuda has pointed out for some time options are a temporary destroyer of share price-but the price will boom after .
Will try and displace digger as number 1 holder of nzo on this forum !
Fish i was thinking of doing a margin lending also, but i have got advice from others that, if you do that you are just gambling.. should never use other peoples money in the stocks.
If you have an exit plan, it can't be too bad. We borrow money to buy houses which are stagnant now, but has been a good way to make money in the past. It depends on what you are investing in. Apartments - bad, houses - good (mostly). FTX - bad, FPH - marginal maybe, NZO - good (we all hope/expect anyway).
There is certainly risk. A big fire at TUI, mine collapse will hit hard. If things go to plan, then there is plenty of upside.
With Margin there should be an exit if things go bad enough, so a small loss should be worse case, big gains best case.
It all depends.....