You might misunderstand what PO short hand is for .It is Peak oil.As NZO is just a NZ company they certainly have no control over the world oil looming shortage,so i do not understand what you mean by NZO PO details.
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I have been thinking about this one since you raised the point.My conclusion is that it is a hugh can of worms.
Firstly if you were a bush laywer like myself you could argue that you are entitled to off market sell these options to a buyer.The buyer would then submit the exercise monies before the close of 30 june and eaisly have a case that the shares belong to him.Now the real reason why option trading ceases before the exercise date is to give the logistic mightmare of sorting out who owns what a time to sort intself out.
Options trading ceasing on monday 23 I would argue is a misrepresentation of what you in court could claim it to be. It really means that NZO through the stock exchange will no longer monitor who owns what after that date.If you can sell or find a buyer i personally believe that buyer could claim ownership of the new shares if all the normal requirements are met. Now the hugh can of worms is this. The first sellers are likely to have real options and can and will deliver to the buyer.After that the slippery people quickly pick up on it and with no monoriting the buyers pays out for options that do not in fact exist.
I believe there is a case to due what i have outlined but the buyer will have to do all there own research that the seller really does have these surplus options.
While this sort of thing suits the bush Lawyer type i will not be taking it up as i am fully committed.Such an arrangement would be best between two people who know and can trust each other.
I should think that nationally and internationally NZO would be flattered if it took a court case to sort out if this new buyer was entitled to these very vavaluable shares.
Over to others for comment.
What a dummy i am??? My broker from hamilton just rung up and i asked him. He said yes you can and and it is no big deal,but it does complicate things and drags out the processing of applications but it is still legal as long as all the normal requirements are met.
What a dummy i should have asked it the first place. When all else fails read instructions.
Foryth Barr in Hamilton is happy to handle the details.See Roger.
Think he must be down the bank giving them the Digger education line on Peak Oil, NOG, Pike, Kupe, Momoho etc, could be a while before he is back at his computer and buy then the bank will have fronted with the cash and he won't have any options left for sale !!
Profit takers out in force today, was expecting this but not so early.... Some people give up their shares too easy *frown*
Just people looking to make a quick buck on the conversion, gotta pay those loans they got back quick smart.
This could affect the share prices for a wee while as some people will hold out longer than others.
NZO is a long termer, i think we should just avoid looking at this share for the next month or two as it does its up and down whipsaw (in an underlying upward trend though)
Now where are the nobles who were not going to exercise their options because of the dilution factor? Still being noble are we?
Oh and the great one bagging this options issue (ignoring the fact that they were issued some time back and though similar to a rights issue very different)
Gee the silence is wonderful.
Yes, still a big "If"
As DS said it has the right address, and if it does hold texas gold then im sure there will be a fair few people wetting their pants with excitement
Most broker reports have written Mohomo off havent they? last one i read said 15% chance of success (how do they get that figure?).
Late heavy selling would be those who needed cash to cover their option cheques which they will be delaying posting until the very last moment. Under the "T+3" rule today was the last day on which they could sell anything on the NZX, so that they would have the cash by next Tuesday when their options cheques will be presented (having been put in the post on late Monday).
.
15% is about 1 in 6 or 1 in 7, which may be near the average strike rate for successful holes in the Taranaki Basin.
Drill holes to the north and south of Momoho-1 have encountered good flows of hydrocarbons, and they do have 3-D seismic over the whole area, so potentially the strike rate should be higher since they are drilling in a proven hydrocarbon system and the 3-D seismic should provide good structural understanding of the geological strata. Success probability should therefore be better than the average strike rate
But geological strata and structures can change rapidly over just a few kilometers, so maybe success rate is only 1 in 4 or 1 in 5.
Time will tell.
Chalice, it would be good if you could give a number to ring so I could try for finance.
If anyone is interested at buying them at a discount, reply or send me a private message.
The options are still good as they everwere, ( as long as they are in the $$$ ) the market where they normly trade is closed is the main difference.
Any deal done would be best done at COMPUTERSSHARE office in auckland, where it can be proven that I am still the holder and that they havent been sold, they can then be transfered and pegged into the new persons name ( ending all calm on them by me and comferming that the new holder has the right to exersize them)
[QUOTE=COLIN;208983]Late heavy selling would be those who needed cash to cover their option cheques which they will be delaying posting until the very last moment.
very true
ASB nominees converted my options today-thru margin lending-gave me a shock when i saw i had somehow miscalculated the amounts so didnt have enough to convert all my remaining options .
Hence had to dump a lot of nzo shares in the last hour even though I knew it would destroy the price .Stupid to do such a miscalculation and be forced in such a position . Still have a few contact and telecom left but psychologically couldnt bare selling these at a loss even though their long term prospects are not as good as nzo.
Anyway its all done now and will move on .
Posted a cheque for 1/2 my remaining options tonight and will post another at 4pm on monday.
Hopefully the money from my last minute trading will be paid and put into my cheque account by tuesday when the cheque will probably be presented
Gee how many ordinary shares did you own to destroy the price?!
PRC now worth approximately $192 million to NZO. Thats 43% of NZO current market Cap.
Maybe I'll buy some more NZO if there's further weakness.
What do people think NZO will do with Pike going forward?
Wasnt just me selling Tim-a lot of shares appeared for sale around 4pm-over a million with buyers less than sellers and i had to move quick and sent the price tumbling-it was 175 at 3pm ,
Anyway hopefully thats everyone needing to sell to convert options out of the way.
With prc price jumping today
Momoho drilling going well
and exchange rate falling
if the market behaves logically we would see the sp resume its inevitable upward rise tomorrow
LUnky I got in before you and the others knocked things back Fish.. I too was a tad short today and had to unload a couple of these today to able to convert the rest. With the price how it is, selling the the options prior to monday hasn't been a better deal in a very long time.
[QUOTE=fish;209014]R u sure you miscalculated - my margin lending account was the same - prior to conversion of NZOOD the margin lending account balance did not (& still doesn't) allow for the NZOs you would own after conversion (as it is based on current shares in the portfolio). However, if ASB were doing the conversion for you knowing the NZOs would end up in their nominee a/c then they would have been able to allow for this when performing the NZOOD conversion. Not sure if I've explained it very well so hope you can follow my drift...
Just a note to members who follow this thread.
There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.
Should those members in question refrain from doing so, - they will be removed from this site!
Members are reminded to familiarize them selfs with the Terms & Conditions of Sharetrader, and if they are unsure of something to seek advice from their financial adviser or other suitable professional.
Vince
This makes for some interesting discussion....anyone want to put there names forward? :)Quote:
There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.
I think this was discussed quite awhile ago. However, I would welcome some more discussion....I think NZO said something along the lines that it's not in their long term interest and they want to focus on oil and gas...?? anyone else have any thoughts or info on this matter?
I have my doubts about that statement-the first part
You seem to post statements that may could be designed to mislead whilst not posting whether you have a conflict of interest-why do you keep posting on nzo -why are all your posts negative-?have you been accumulating whilst telling people to sell .
disclosure-I want every small investor to put all they can spare into this company and enjoy the ride. Have sold most of my other shareholdings and mortgaged property to buy options/heads . Am a long-term holder and expect to be still holding most of my nzo in 10 years time . Definately not in the finance industry .
I posted my conversion cheque on Monday and so far it has not been presented.
Are others in the same position?
sent my cheque last friday and it has been banked.....
Yea great bermuda. Never let money rule you.Retiring just because you can is an excellent example of how money can rule you. Retiring is boring and leads to a slow brain death from disuse.Stay in the thick of it and always keep climbing for the pure joy of it.
Bermuda you have brought up a good topic here even if untentionally. Pike and NZO could well make a lot of investers here rich enough to retire,but do not get sucked in. Take a holiday and get back into it,never give up regardless of how wealthy you get.Life is just more fun in the saddle.Also the very people who are smart enough to invest in these winners are the sorts of people that the rest of society will need to show then the way out of the hole they are digging themselves into.Even i seem to be waiking up a few individuals lately--or at least they have been forced to stop thinking i am an idiot.
Vince I can only identify one such person and that is Chrisr. He made it clear who he was from his first post. It would be a shame for him and the likes to have identify themselves on every post. He helps keep the thread under some control to some extent when some posters get a little carried away( being polite here).
These forums a relatively PC free and that is probably why they are so successful.
Interesting listening to the tv business news this morning-the brokers are starting to wake up to the fact that the rise in the price oil is not just a short -term spike fuelled by speculation but a long -term step up . There is a fundamental change in the balance of supply and demand and the price of oil has further rises ahead .
t
Hi Digger,
You have been in control of your life for ages. Work to you is a pleasure and good on you for enjoying it ..and for the wisdom you bring us.
I, on the other hand spent too many years being corporatised by BP. Now I am free and my brain is just exploding with uncluttered thoughts.
Learning every day and loving it. And every day I say to myself whatever dosh I make, it is going to my daughters to donate to their favourite charities. The youngest is studying Natural Medicine in Melbourne and when she was at Uni used to work at Trade Aid ...for nothing. The eldest is a physio and wanted to work in Africa for Corso. I would not let her.
They will know how to spend the money wisely.Believe me.
And so to me Digger, retirement is like being set free. We are all different. And I have never been so passionate about life ...in my life.
NZO/PRC ...set to perform brilliantly.
I trust fellow posters only hold oil ,gas, and coal stocks. Everything else will get butchered.
June 26 (Bloomberg) -- Crude oil jumped above $140 a barrel to a record as Libya threatened to cut output, OPEC's president said prices may reach $170 by the summer and the dollar weakened.
Libya may curb output because of a U.S. law that allows terror victims to seize assets of foreign governments as compensation. OPEC President Chakib Khelil said oil may surge on a European interest rate rise, France 24 reported. Oil, gold and copper climbed today as the dollar dropped because the Federal Reserve gave no signal of higher interest rates yesterday.
Arjay you still here,this one is for you. I remember some years ago you said when the crunch came the US would set up some way to takeout other counties oil assets. This looks a lot like a setup to me.What is a victim anyways. Eventually it will be if the average US drivers can not afford gas it is a plot and he is clearly a victim.Must take over someone elses oil field to put matters right and fair.
HI Fish
I had a long talk with ASB margin lending before and had enough funds in the account to convert the options. They did say not to worry about how the margin account looked over the next few days, It would all be sorted by Tuesday or Wednesday. Certainly scary when you look at the big OD but they will take into account the equity in NZO.
Computer is playing up and will not after several tries quote this properly.
Vince,i have been aware for some time that this site can easily be infiltated. It clearly was some months ago when i posted my thoughts against forward selling of NZO and PPP oil. One of the replys in favor of using forward selling was plainly an advertisment pointing out the benifits and the responsibility of doing so.That writer plainly had an invested interest in furthering NZO and PPP continued comittiment in that direction.That interest was purely a self interest corp sell that was that was not concerned with the economic damage forward selling would do and very much in fact did do. This drawing the line as to where self interest must stop compared to sharchat general discussion is now very timely. We are all here individual investers but out self interest must be as we achieve it through the company growth and not a hidden sell.
For meaniful continued discussion here on sharetrader we need a structural setup where posters infiltrating to push there wares are removed .Good move and it is plain that i fully agree with the identification of individuals if necessary.
The ONLY blue arrow on the NZX is for NZO. I'm sure PRC would be there too if it was included. Yeeha a a a ! - and has anyone else noticed that the price of oil/barrel is not now included in the Radio NZ business news !!?? Not wanting to scare the horses ??
mmmm top'd up a few more NZO this morning!
Probably a wise move. NZO is one of the few not dropping like a stone today - shows resilience at least. Starting to wonder if I should be breaking open a few reserve piggy banks and picking up more … specially with the latest 1/4ly figures combined with last nights $140 barrel. I really thought the subsidised Asian fuel markets would have started to feel it by now - - not so.
… and the Israelis are practising long range combat refuelling.
! Cripes - The financial report - - that hadn't occurred to me - The reporting cycle ends a month before Mohomo is due to hit depth - the next report will be to June 30, should hit the streets July 31 ish. Mohomo is 51 days after spudding in - say 3 Aug. The end of next month could be a fascinating time.
.
ABC Australia "Peak Oil" documentary on TVNZ 7
Tomorrow Saturday at 2:10 pm
http://tvnz.co.nz/view/page/497100/1596989
I caught the last few minutes of its first broadcast this evening -- it was on between 7:10 and 8 pm
It look very good -- quotes from the Hirsch Report etc
Will be rebroadcast tomorrow afternoon at 2:10 pm
.
Price of Oil pushes past US$141 / barrel:
http://futures.tradingcharts.com/intraday/CL_/88
Not good, tempting fate, global recession, collapse of commodities including oil !!??
Will it all end in tears ??
The days of cheap oil are over Zorba.
The world needed to wake up and change .
These changes I feel will be profound , painful for many, great opportunities but ultimately good for the planet and mankinds future .
Investing in nzo will give financial freedom and opportunities .
LOL malcolm
Lest anyone might take you seriously the most probable reality is nzo to increase in price no matter what the scenario-
most companies have significant borrowings and are at risk of failing in a recession
NZO has cash in the bank-even more with the options, and heaps of hydrocarbons esp . the best oil in the ground and a share of the best coal through prc
In a recession cash would be king-nzo would do fantastically well-buying up cheap assets as explorers with lots borrowings go under -anyone who thinks the price of oil is going to collapse is deluded . Libya and others are going to cut production if the price shows weakness.
All the stars are aligned for nzo and as bermuda says sell all your other holdings -most of those shares are going down-and buy into nzo .
per port taranakiwebsite it shows vessel due 0800 monday
Mon 30/06 08:00 TH SYMPHONY PSA fpso OTHER sea >> tui fpso -- /NIL NIL 240m 57458 0
so, if mainstains schedule then will load 300,000 barrels before the end of financial year and tui would have shipped over 14m barrels until june 30 2359 hours.
otherwise if vessel running late, the 300,000 barrels will be counted as product on hand for the balance sheet.
what happens if half loaded by 2359 hours june 30 - don't no, but as a guess it falls into the later.
M
Stock on hand or stock sold as at balance date still gives the same profit providing that the stock on hand is valued at sale price. ie: the sales figure will be different but the value to the company will be the same.
I imagine that oil still in the ground is reserves and oil out of the ground is stock on hand until sold.
Gross profit equals sales less cost of sales.
Cost of sales equals opening stock plus purchases less closing stock.
Accounting 101 in simplistic terms.
One more day to go until closing of competition...
I picked $1.70... someone else came in and stole it from underneath me after I selected it...
I then re-selected $1.69....
Send cheques in the mail, trophey and prizes to www.shrewdcrudechampion.com
I will be happy to take all prizes for $1.69 and spilt in half the prize for $1.70...
...
troll back through the threads and check for yourself...
...
Mackdunk eliminated himself from the comp as a prize winner....
He knew he could not claim the prize... I say this, because as time went on he knew there was no way he would win it...
Pity he had to pull my mate Diggz down wif him...
haha... laterzzzz....
:cool:
.^sc
So does anyone care to predict what sort of profit we are going to be looking at this year. I can't wait to see the annual report!
Shrewdie: I wasn't aware that I had stolen your number. I picked - and advised - $1-70 quite early in the piece and it was accepted by the Clan Chief (aka the Lord of The Isles) without demur, so I have contentedly regarded myself as holding this well-positioned number until now. I haven't trolled back through all the 100's of posts since then, but I am sure that the rules state that the decision of the Clan Chief will be final and no correspondence will be entered into. So there!
Cheers!
(I might consider a small donation to your favourite charity, though, as a consolation prize. What will it be - The Home for Distressed Gentlefolk perhaps?
Anyone interested in some options befor they expire on monday please email me on wseb2@hotmail.com
Tapis now us $147.30-a new record sale price
NZ dollar weakening progressively over last 3 months
nzo sp should rocket in july .
Likely to be heavy trading as institutions build up stakes and speculators sell out .
? is there a possibility nzo could end up in the top 10 nzx companies in the next 12 months .
I see in the Sunday times today ACC now disclose just over 11% of the stock.
if so much of prc wasnt held non-floating, then it would be battling it out up in the top10 aswell..
[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,
Assume you mean 1 day to go; I'll go for Spook, Colin or Ron the Pom!
So who you picking to win??
My moneys on balance
2c off in macdunks comp.....gonna be close (but with the soaring tapis price, probably not!)!
my mate colin,Quote:
colin-shrewdie-
(I might consider a small donation to your favourite charity, though, as a consolation prize. What will it be - The Home for Distressed Gentlefolk perhaps?
Theres no problem at all... It was not your fault, it was someone else's... the competition host never picked up on it... haha... At the end of the day, I said nothing about it at the time, so I cant complain....
anyway, $1.69 still has a chance... Im in the ball game...
DOW down 100pts again... yah never know...
Perhaps consider a small donation to the, "Special ticket to National Convention fund"...your name is on it...
Special event prize includes getting to talk to other investors, Serpie as taxi service, (pick up/drop off), hot stock tips, one free drink of your choice....
This is a worthy charity... Its for the good of the nation...
YOU have game... what a pick...
:)
.^sc
Report: OPEC president sees oil at $170 this year
Khelil blames Fed, falling dollar, increased demand for surging crude prices
By MarketWatch
Last update: 1:24 p.m. EDT June 28, 2008Comments: 235SAN FRANCISCO (MarketWatch) -- Oil prices will climb to $170 a barrel this year because of increased demand, political tension and decisions made by monetary policymakers in the U.S. and Europe that have devalued the U.S. dollar, OPEC President Chakib Khelil told Bloomberg News on Saturday.
"Oil prices are expected to reach $170 as demand for fuel is growing in the U.S. during the summer period and the dollar continues to weaken against the euro," Khelil, leader of the Organization of the Petroleum Exporting Countries, said, according to the news service.
Political pressure on Iran and the depreciation of the U.S. currency have caused a surge in oil prices, Khelil explained.
Crude prices hit a record $142.99 a barrel on Friday in New York trading. See full story.
I wonder if ACC will regret selling off last week.
A lid certainly seemed to be on the price last week-probably also last minute option holders(unfortunately included me ) needing to sell heads .
With the lid off the sp should steam -my bet is $2.50-in august
NZOG lead article in the latest edition, very positive.
I have not read this piece,but my money is on it being more likely to be somewhere near 11% than just over 5%. Acc used to have just over 5% but sold down to suppress the options.Still they ended up buying a high % of options ,the exact figure i can not recall.However even if they sold all there heads the exercising would still give them more than 5.44%. We will know next week. Do not place too much confidence on reporters to get it right,but good on them if on this one special occasion it is correct. My pick is about 8 or 9%
True-all sorts of reasons are quoted by opec as the reason for the increase in oil prices-but they seem to deny the real reason--a shortage of oil .
It seems that the price of oil still has upside for the rest of the year-opec will blame american dollar and northern hemisphere winter !
Hi Unicorn- I was just quoting malcolms post earlier today . Its all very confusing with options and heads still in the equation .
Its going to be a very interesting week finding out who has substantial interests in nzo
I am looking forward to seeing the end of trading tomorrow-I have arranged 15 minutes off work to watch the close of trading !
I get the impression that they've sold down the heads to exercise their options. That way they can release some cash or increase their holding. ACC seems to have so much cash, they're running out of places to stash it, and still my levy keeps on going up and up and up and.........Digger. What was your plan? perhaps we could sack [ Maryann Street ?] and put you in charge.
Hi Fish,
That is dedication. I am away so wont see it. My bet of 149 got gobbled up. I didnt realise that after my pick that 3 or so brokers would come out with such positive valuations. These are the same brokers who were telling their clients to avoid NZO just 12 months or so ago. It is not their fault. They have too many issues and emotions to deal with.
Anyway, they are finally on board.
Congrats to the winner?. Shrewdy, you are a leading contender. As always.
Dump stock NOW....
$1.69...
Also, Think about the Colin fund... AT least sell stock until SP hits $1.70...
Do it for him...
its the Charity event of the year...
:)
.^sc
My 177c is looking pretty good now. I had my doubts a few weeks ago, still a lot can happen in the next day :cool:
Disc: Don't hold NZO (sigh...)
Get off the grass.My 1-73 is where it has been most of the day so DM will declare me the winner. My winnings will be kept till i have my NZO party in nov and DM can present it to me after i buy it that is and as clearly all NZO holders are winners we will share it.
Alas it is not the end of the day yet so anything could happen.For now PRC will not send NZO up,and it is too early for Momoho and soon the overweight NZO holders will sell.NZO will rise in August.
Alas DIGGER mate if 173c is the winner then the winning number will be the previous sell price before that, as you are not allowed to win your own bottle of plonk. Someone with half a brain that has not entered so far is in a great position to score your number. Who said NZO shareholders were all brain dead surely one of you would have worked that one out by now. What a competition entries allowed right up to the end. Macdunk
Getting closer to 'the quiet one'!