Is the cash in NZO heard in USD or NZD?
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Is the cash in NZO heard in USD or NZD?
Long term this stock looks good. However since the downward pressure on oil and overall markets, potential we have a lot further downside to go.
Have we seen the bottom? Not likely and 3 months ago i would have almost rateed it less than 2% chance that nzo may test the $1.00 mark again
P's last chart re NZO and Oil was post 6205 on this thread
Oil at US$70 a while ago suggested NZO at 90-100 ... allow a bit for the NZD down a bit and maybe 100-110 says that the correlation still exists
Psot 6222 had oil in NZD
(PS - Don't know how to post charts)
http://www.rippingsilk.com/pics/nymex-nzo1710.jpg
(one year chart)
There is one very important question I need to ask and maybe someone close to NZO management can answer it.
It is forecast that Tui oil production will decrease substantially from 2009 onwards and gas production will come on stream from 2010. The question is...will the gas production be on schedule to be delivered in 2010? How much gas will be produced in 2010?