Great - we're on afterburner.
Printable View
If you believed in them at $1.53 then $1.60 still ok isn't it after all I assume you are buying them because you think in the medium/longer term they will be $2.00+ so whats 7c?
Not much on the sell side at the close. McD is going to have to dump plenty on the market to hold the horses back.
A mere 11 cents to go and i win DM competition and drink by myself.Or alternativly when i finish my new house we could have a drink up together and overlook the waikato. So lets hope the 30 june is no more than 172 and i now fear that will be on the light side.Did Balance not say 10 50 or something like that.Could win if Momoho gets the smell super high to closure.
Mcdunk, lets have some disclosure. Do you hold any NZO? What price you got in at?
By my calcs today would have been the last day to sell heads and receive the money in time to convert options. (Settling is T+3 and money transfer would be overnight). So the shackles are off. I would expect more selling of Ords when they are issued to option converters who have used short term funding to speculate.
Mcdunk, lets have some disclosure. Do you hold any NZO? What price you got in at?
__________________
Time for a Change! Time for Zero Tolerance to Crime!
Dr Who - do you really expect a credible answer to that question!!
Also strong finish for PRC on ASX.
Can sell wednesday and if you use broker as i have done let them send in your options conversion and thereby save it going through the bank and waisting 4 days.
I was faced with a bad choice here and sold out of PRC.That hurt but will still have expoisure through the greater holding in NZO. Will convert all my options. @ dollars just around the corner---go PRC make it happen.
Chris, I think you guys at NZO have done a fantastic job. Congratulations and keep up the good work.
No trading for NZOOD today. I wonder where was the information that yesterday was the last day trading for NZOOD???
Also for those who has converted the options already, how long does it take before your money disappears after your form is out in the mail?
Correct.
Interesting days trading. There are some building up a rather large stake. It is going to be a very interesting next 6 weeks
People. Should there be an offer on the table to buy out nzo in the next 12 months then DONT SELL" i repeat DONT SELL. Do not be greedy and take a short term profit. I dont care if its $3, $4 or $5 per share. DO NOT SELL.
Nita
do you know something ??
Hi Digger
Was in same predicament but couldnt sell PRC. May or may not regret that one.
Wasnt prepared to take out a loan re ODs even though I knew the share would go up.
Go PRC alright and NZO of course.
Colin, that's a correct observation in a relative sense. For excitment I go to the casino or racetrack. I don't mind taking an average 13.78% compounted on Platinum's International Equity funds.
Some may ask why is he interested in NZO. The reason is I have followed this share since it listed in 1981 at $0.50 per share. I have also invested twice in the share. Last time it was when NZO was drilling that well that had a name sounding like the Major in Hogan's Heros.
One reason I think the stock is better now than ever in its 26 year history, is TR is playing a less of a roll in the company.
joey
I would add to this do not sell NZO now-you will regret it
Lots big buyers out there-one at 4.55 pm was trying to buy a large amount-not disclosed as was over 100000 shares and therefore didnt have to disclose the amount .
Tapis is at a new record in nz dollars--nz/us under 76 and Tapis us 143.22
NZO theoretically earning 1.1 million gross per day
All the recent sharebroker reports valuing nzo at over $2 havnt factored current prices in.
I still believe there is a high chance of nzo being $3.00 by xmas-almost certain if momoho comes in(50% probability )
I have taken out a new mortgage to back up my margin lending -looks as if i wont need to draw on the mortgage to back up margin lending but means i sleep happily .
Give TR his due, he and the Board and management held the company together for 27 years, saw off those GPG/Brierly mongrels (when they tried to take over NZOG, they would have stript it and hocked it off), and by good old solid perserverance along with dedicated staff have brought three major projects to fruition.
These three major projects were comming down the track long before the current CEO took the wheel ......
Agree though that DS is the now the right man to be leading the company .... nevertheless its been presented to him more or less on a plate.
The next big challenge for NZOG (CEO, management and Board) is how best to make use of the option exercise funds and the present huge Tui cash flows ..... this will be the real test for the company over the next several years.
Z
.
Well, I am very surprised at the movement yesterday and today. I expected there would beother like me still needing to unload a few heads to convert the options. Not needing to sell so many now, and might unload something else instead....
Odd that those with deep pockets buying so many now, didn't take on the 3 4 and 5 cent options available on Monday or last week..
Trades through at 1.68... I love being right, just wish I could have leveraged a bit to further take advantage of this which was surely to come.
Unfortunately my 1.69 for the comp is starting to look a bit low :(
Go my 1.80! It's looking a better and better shot by the day!
I see that your Mr Cunliffe is having continuing problems with hair! (See todays news report re Parliament yesterday - on www.stuff.co.nz.)
I agree with Strat - that picture disturbs me whenever I see it!
Cheers!
Top 15 or top 20? Is there an index for the top 20??
Oh yes..David cunliffe's hair...this avatar is a protest against his decision not to pay junior doctors more...:)
$1.73 now. It is even possible I have a chance in the competition. Mind you if I do then you all will be happy.
I think this is overshooting the target - not that I mind!
Indeed, why did the people with the big money not buy cheap options and / or heads a couple of days ago?
one happy holder here
if I was you, I would wait until the uptrend is set in concrete. I would wait until the shareprice is at least $2.50 before buying:D
the movement may more be that they are seen as a cheap takeover target
Big volume, Big increase! Not many shares on the sell side!
WOW!!
Well done to all noggers for keeping the faith!
Am a very happy holder of a lot of CFDs on this one.. made a house deposit sized profit in last few days, booyah! (excuse the excitement!)
What do people think from here? Retracement, consolidation or a new uptrend forming?
My feeling is that the momentum should carry it to $2 unless the oil price has a big drop overnight or there are problems at Tui.
its official. New Zealand Oil and Gas is Still the most undervalued Stock on the NZX...
Bar Nothing...
Im real happy for you lot...
This has been a dream of mine, and I dont even hold any...
Kupe will be bigger than Tui...
Now that you lot are all real rich, its time to come over and have a dabble in some spec Oilers....
later all...
:cool:
.^sc
Emailed from a good source:
The buying was what appears to be new, and increases to existing,
shareholders to the register.
(sic)
We suspect the buying that is new to the register is international
likely from Australia.
theyre always stealing our stuff
Looks like opening at about $1.37 in Aust. At .8 that is about NZ$1.71
I have a feeling it won't be long before we get near $2.00!
Not a lot of depth to $2.00, and no sell orders beyond there.
I tried to put in a sell order at $4.00 but ASB wouldn't accept it.
Guess I'll have to wait for the Momoho result lol.
How long does it take to sell a order of shares through the internet?
I think I need to get some more in quick before I miss the train.
I do have some other funds tied up in a term deposit (due end of July) but not sure of the penalties / worth waiting.
Indeed, why did the people with the big money not buy cheap options and / or heads a couple of days ago?
They were, I think 11 million traded Monday alone.
They sell as soon as someone buys them, you see the money four days after, (day of trade plus 3 days to transfer funds to your bank account) or in the case of a buy t+3 to debit the money from your account
edit: i should note that is with direct broking through national bank
also depends who your broker is...
nzfc used to do it straight away..ie sell and the coin is in ur bank account straight away.
asb sec takes a few days like you say to become visible. but once u sell the funds are actually there and you can trade straight away with what you realised, even though its not visible.
not sure what its like trying to get it out from the bank straight after the trade.
Hold it stop right there.As i write it is exactally 1-72 my comp number.Duncan you got any ideas how to stop this thing from rising further at least till after 30 th june. As you all know i stuck my neck out and offered 100dollar wine prize in Duncan's comp and it will be a 100 dollar saving if i actually win.The way NZO is going i will be toooo poor to honour my undertaking so might need a whip around to you rich long NZO holders that were too brain dead to sell at 1-00 to 1-10 when you had the chance.
A very good cheer to all
Well, at first I doubted that. But there might have been a tinge of it after all - the price pressure has eased off. Mind you, I never 'got' arbitrage - - I get confused just standing in the Bureau de Change ('we by:, we sell:' always seems back-to-front somehow).- The jet lag doesn't help either.
DIGGER, Sorry to pull you up mate but you and I are not allowed to win. Me for running it you for donating the prize. We must at least seem to be fair. Like my selection someone can second pick your number that is not already entered right up to closing time. Macdunk
You can't rule him out because he donated a prize surely.
This is a fun competition so I can't see why your entry doesn't count as well.
What I think is happening here is that Duncan has been a secret holder of NZO all along. He has been stringing us along and greatly enjoying the goading, while all the time he actually held heaps and heaps of NZO. What was in it for him? Well, he managed to ensure that the options price was depressed as exercise date drew near, thus enabling him to pick up further "heaps and heaps" at very depressed prices.
Congratulations, Bonnie Prince Charlie! A brilliant tactic. Enjoy your new-found wealth.
Cheers!
Just seeing if there is any off market selling of the options anywhere befor they expire?
I have found myself with few more than I can exercise or is the only option the rubbish bin?
sell down some of you other holdings?
ie if you sell nzo down at 175..and convert your ones you were to going throw away, you will make 25cps.
I am sure if you find a buyer you can do a share transfer form and they pay you for the options and they pay $1.50. You would need to hand both forms into the share register to be safe.
How many are we talking about? What is your sell price?
6307009 last option price was 2.5 i think
its worth 25 cents today
Fair enough Duncan,but in truth your number was always too low and now mine is as well. At the moment it is 1-76 and by next monday i will also be well out of the running.If not and it is 1-72 we will give it to the next preson who picks 1-72. At this stage i did not know anyone else had picked my number. They can have it . Still i take your point and you and i should not win.
im sure you could handle a big nzo party at your new house on your farm couldnt you digger,in the near future
I have just in the last two days completed a arrangement with the National Bank about arranging finance to convert all my options.During the last two weeks i have educated them about Peak Oil and believe me they were at square one before i started.Two weeks ago there was no way they were going to lend me money but after my peak Oil graphs from the OIL Bulliten and egergybulletin they saw the light.Two hours ago all arrangements were completed.Trust me they are a lot more informed about which way up is than they were two weeks ago.
Email me on cboreham@xtra.co.nz and i can give you some names for contact.
You need about $195,000 to exercise. The result will be $227,500 at the current price.
I am sure your bank will lend you the money for a week or so. The interest for that time will be not worth worrying about. Even borrowing money on your credit card is acceptable for this short time period. Once they are exercised and registered you can sell what you need to clear your debt and pocket $30,000 or so.
Where there is a will there is a way. Best of luck.
not until nov 2009? ill have my own mansion by then hopefully
Your definitely at the top of any oil party list bermuda. We are planning to move on 22 August even if the toilet system isn't fully set up,which at the moment looks to be the last to get completed. The house is not mcMansion,it is only 270 square metres. Any bigger and it will be too much for Mrs Digger and i was forever consious who would have to do the extra cleaning.
It will have a lot to offer for a oil party as
1 the just about only conversation i now have has oil somewhere in it
2/Overlooks much of the Waikato
3/ Has and will continue to have one of the waikato's best small self power systems.Currently several others are getting modled after mine.Photo of our small self power system gone to Japan.
4/Will have one of the first electric cars once they are made and will power it from here.
Will get back on this subject but your name bermuda has in it the biggest problem of doing anything before next summer. That part of your name that has the mud in it.
I am sure looking forward to the future.
Cheers.
Sorry Digger You're Actually $1.73 (i Just Checked Back)
We Can't Both Win!
[QUOTE=duncan macgregor;208325][QUOTE=duncan macgregor;207742][QUOTE=duncan macgregor;207051]Competition to select NZO share price on conversion date June 30th
in the event of a tie the winner is the person with the correct score posting first
I will list you in posting order.
1,AMR 180c, 2, OILER 165c, 3,Macdunk 159c. 4,MATTYROO 158c.
5,SEAMUS 135c, 6,SERPIE 131c, 7, LIZ 120c, 8, STRAT157c.
9TRACKERS 168, 10, COLIN 170, 11,THE MACHINE 210c. 12,MALCOLM 200c.
13,SPOOK 172, 14,BIG BOB184c, 15,ZORBA 155c, 16, REMY 167c,
17 AMERICAN PSYCHO 175c 18 SHASTA 161c, 19RONTHEPOM 171c 20 PHAEDRUS 160.
21SHREWDY 169, 22 BERMUDA 149, 23 MORV 183c, 24 COALIE 188c
25 DIGGER 173c, 26 blank, 27 NITA 181c, 28 SUMMER NED 193c.
29 QOH 179c, 30 WK6332 225c 31 BALANCE $10-60 32 KS 162,
33 TOK3N 145c, 34 SHANE M 162.5c, 35CORRAN 156c, 36 MICK100 300c.
37 DSURF 154c, 38 SKEET 185c,39 MIBO 177c, 40 JAY 162c,
41 ZACMAN 187c, 42 GAMBLER33 115c, 43 ANUBUS144c, 44 BRUCETO9 164c.
45 romer 163c.46 HOOP 147c 47 RABBI 148c 48 ROTWEILLER 153c,
49 MINGEATHINAIOOS 150c,50 MANXMAN 195c, 51 MACDUFFY 146c, 52 BLOCKHEAD 198c,
53 777 226c,54 SWISSBOY 174c,55 AIRDALE166,56 CLIPS 178c,
57 PADDIE 196c,58 FOODEE 176, 59 BK152c,60 MPC182c,
61 STEVE 151,62 ONTHEMONEY 143, 63 LION 186, 64,TIM23 189c,
65 BOB C 190 66 RIF RAF 191c 67, OUT TO LUNCH 194 68 SEHNSUCHT888 192c,
69 PIETRADE 220c,70 ZAC 197c, 71,CAM 245C,72, CHALICE 214c,
73 GLENDOONIE 142c 74,UPSIDE_UMOP 159c,
Roll on 188c...
Well done Digger, enjoy the ride!
Far too low-3 more days trading
Strong buying pressure going up at 10cents a day= $2.05
Price of oil is still going up and the nz dollar falling will help propel valuations up
Current theoretical daily return from Tui at 5500 barrels a day =nz $1,039,379 at current tapis price of us $143
SP is still looking very cheap
Looks like my $1.72 makes me a loser Never knew I would be so happy to lose.
To reinforce comments posted in the last 2 days-DON'T SELL!- those of us who have leveraged to convert oppies might feel the pressure to make a quick buck, but if we HOLD the SP has at least another $1.00 in it.
Don't even sell off to reduce the leverage - resist the temptation - you will be rewarded!;)
Chaps,
Great to see NZO being unshackled in recent days, does anyone else think it peculiar that PPP is flatlining over the last month despite:
the sustained oil price
gradually easing NZD$
upgraded TUI reserves
Appreciate your wisdom
Yep, PPP has a market cap of $188m
In the paper a couple of days ago it said NOGs share of Tui was worth $1 billion - it has 12.5%
PPP has 10% of Tui, so its share must be worth $800m
Doesnt make sense to me why its not double in price, plus it has Maitland gas field which they seem to have gone quiet on after saying results would be out in May.
For $188m PPP must be a bargain, maybe those converted options will see NOG take it over and increase its share of Tui to 22.5%
"To provide downside protection against any substantial fall in oil prices, PPP hedged by way of put options approximately 719,000 barrels of oil being 50% of the first three years budgeted production and 22% of its total share of reserves. This hedging ensures that Pan Pacific will receive a minimum price of USD$50 per barrel for up to 719,000 barrels even if the oil price drops below that level on the relevant dates. The Company partly offset the cost of these put options by selling call options which may require the Company to deliver no more than 187,600 barrels of oil (approximately 8% of expected production in 2007/2008) at USD$92.00 if the price of oil rises above that price."
Doesn't sound too bad but if you have a look at current Tapis price of circa 140 it equates to many millions. NZO did something similar, can't remember the specifics.
Although they have some interesting informatiin on their website under "Tui Area Oil Fields" it may help their cause if, especially given the interest Tui is currently generating, they updated their figures i.e.recoverable reserves 32 mill, 07/08 production 10.7 mill. personally I find that bordering on negligent as their remit should be to maximise shareholder return. Plus I don't think there is a requirement to publish their hedging/call info given current prices.
NZO and PPP both had to take out these options to satisfy leanding from the bank for development.In both cases it was a losing arrangment to have to be forced into.With PO both companies were always going to lose.Hopefully that will soon be all behind us and management now sees the folly of forward selling when PO is ruling the show.We no longer have to do this forward selling which is really selling forward at half the price while at the same time carring all the future costs.For NZO this forward selling is the only real mistake made in the last year.
Although this is an nzo thread, to give you my position on ppp is..its a cash cow that has a limited future. TR is setting up his retirement...sorry tr fans its just i see him past his expired date. However i made my decision to invest into ppp when buying the options cheap last year. My decision to buy definately wasnt based on the personal that they have. Digger is correct on the forward selling etc. Personally i HATE hedging currencies, future prices etc as i see it nothing more than taking insurance on top of insurance. The only time you would do it is if you had no option or if a substantial risk was there that would put the company in jeorpady. I didnt see the risk and only saw requirements to forfill financing arrangements.
Back to nzo. In short... without any unforseen circumstances nzo could hit $2.00 - $2.10 in the next 10 days only to retreat to around $1.75 - $1.80 over the following 2 weeks.
re PPP, it seems like they are almost purposely keeping low profile, just the bare minimum releases. Even the PPP thread on this site seems to be dead.
Just had a thought on NOG though, wouldnt it be funny if NOG was buying its own shares yesterday, to push the price up and ensure everyone converts. And they wouldnt have to disclose it until next week after everyone had sent their cheques in.
Steady as she goes.. As an aside, Friedegg might recognise a familiar name in there...Quote:
https://ost.asbbank.co.nz/images/dot.gif https://ost.asbbank.co.nz/images/dot.gif
New Zealand Oil and Gas Limited - Announcements
https://ost.asbbank.co.nz/images/dot.gif https://ost.asbbank.co.nz/images/dot.gif https://ost.asbbank.co.nz/images/dot.gif https://ost.asbbank.co.nz/images/dot.gif
NZO
26/06/2008
MINE
REL: 0913 HRS New Zealand Oil and Gas Limited
MINE: NZO: MOMOHO EXPLORATION WELL DISCLOSURE NOTICE
26 June 2008
MOMOHO EXPLORATION WELL DISCLOSURE NOTICE
New Zealand Oil & Gas Ltd (NZOG) advises that as at 2.00pm on 25 June, the
following operations have been completed on Momoho 1:
The 22 inch section was drilled to a final depth of 561m MDRT (measured depth
below rotary table).
The 18 5/8 inch casing has been run and cemented as programmed.
The blowout preventers have been installed and the 17 inch section is
currently being drilled at 1355m MDRT.
Over the coming week, the rig is expected to complete drilling the 17 inch
hole section and run the 13 3/8 inch casing.
Momoho is an exploration well 6 kms southeast of the Kupe central field, off
the coast of South Taranaki. Drilling began on 13 June 2008 and progress to
date is summarised as follows:
Well section: 36inch 22inch 17inch 12 1/4inch
8-1/2inch
Planned Depth: 170.5m 550m 1,830m 2,855m 3,142.5m
Actual Depth*: 180m 561m 1,355m
*Depths are cumulative and show total well depth measured below the rotary
table (MDRT).
The well is expected to take approximately 51 days to drill.
ENDS.
Attachment: Graphic depiction of drilling progress.
Partners in the Kupe permit PML38146 are:
Origin Energy Limited (through its subsidiary Origin
Energy Resources (Kupe) Limited)
50% (Operator)
Genesis Energy (through wholly owned subsidiaries)
31%
New Zealand Oil & Gas Limited (through wholly owned subsidiaries)
15%
Mitsui E&P Australia Pty Ltd
4%
FOR FURTHER INFORMATION PLEASE CONTACT:
Chris Roberts
Public Affairs Manager
NZOG
Telephone: (04) 495 2424 Toll free 0800 000 594
NZOG stock symbols: NZX shares - NZO options - NZOOD
ASX shares - NZO options - NZOO
Weeks
Drilled 36" hole to 180m
Drilled 22" hole to 561m
Current drilling: 17" hole
Reservoir Target