digger, understand ppp unable claim any expenses in australia, thus no franked dividends would not be very attractive to shareholders.
M
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I hope NZO walk away if PPP's greedy Board/Management get to difficult.
I prefer NZO to PPP as:
1. They have ensured they have at least 15 - 20 years steady revenue stream, by taking on the Kupe project, plus spinning off PRC, which will eventually net NZO a nice capital return, perhaps to fund an acquistion down the track?
2. NZO will net a tidy profit if someone else wants to T/O PPP, by way of there blocking stake. (You need 90.01% control to fully access the cash pile)
3. NZO have been proactive & have looked to the future with there executive appointments, ie newblood to progess the company.
4. Paying dividends (not that i'm a fan of them doing this), but the institutions sure like it, hence the likes of ACC on the register.
5. Learning from past mistakes, NZO's reputation of old is improving yet, PPP's languishes & isn't helped by the "snouts in the trough" look & feel to it, as if the "old school" Management are running it for themselves.
Having held both NZO & PPP previously, & after running BPT through the DD process again, i've decided NZO has to be my O&G company :cool:
Hi Digger,
You and I know that NZO take PPP out. This has stood out like a sore thumb for years.
When are you going to have that big BBQ? I will come to that but cant make the Auckland Shareholders meeting.
any t/o offer by nzo for ppp has to be a firstup knockout offer
Say au 75c cash or 4 nzo share for every 5 ppp share should do it - the later of course preserving the pile of cash which is all to critical in these opportunistic times.
as a holder of both, we lean towards this type of offer even though it dilutes nzo
M
Your scrib offer is a bit rich Machine.Anything like 4 nzo for 5 ppp will make a holder of nzo green with envy. In hindsight it would certainly underline the route to holding NZO shares is by first holding them in PPP. I had thought a 1 nzo share for 2 ppp would probably be about fair,or on current value giving PPP holders 65 cents a share. Your scrib offer values them at 104 which is toooo much.
just some facts to dispute shastas post .AT and NT have taken minimal directors fees. Same cant be said of TR but he is driving the train. AT bought nzo share stake at around 25c,so should be expecting a reasonable premium. I sold out of nzo at the last option time because I never liked Pike and increased my ppp with a view to a long term hold, 10years, when I expected them to be safely worth $1 plus. I will be qiute happy to sell to nzo at a substantial price but eqally happy if they walk away and leaves us ppp ers to steadily accumulate wealth.By the way I am glad when the original Tui exploration well was drilled that Coaster never completed Plugged and Abandoned when full depth was reached and there was no announcement. Have the feeling it might have jinxed the whole project. Got the feeling there is a lot more oil to come in this area.
Hi bermuda,
My BBQ and everything else has been held up by one off problems. Wanted it in November but Denise said wait until deck was made. Fair enough. In early Dec she hurt her sciatic nerve and has been laid up every since. Had to cancel a holiday to Hong Kong and also she will not be able to take part in the Otago Trail Bike Ride at end of February.Has fainted twice trying to do two much from pain. Christ after 40 years of marrage i have had to learn how to cook bacon and eggs,take the washing out and still trying to avoid the vacumn cleaner. Has had a epidural in the back and may yet require an operation.Fortunally i had a similiar Sciatic problem 6 years ago so know something about it.
We had a small get together of about 20 people here on the 18 for the bike riders and of coa-rse wife did more than she should have and rehurt herself and has paid for it since. So i think by now you see the problem. Denise says wait until middle of march as by then she might be right. Christ if it takes that long she will have read every book in the Hamilton library twice and i will be able to flip a cooking egg without breaking the yoke.
So we have decide to put the BBQ down for saturday 07 March.Shame about the delay as so much is now happening with the company to talk about.By then PPP will be a past event and with the next takeover coming on stream and Kupe earning getting close enought to begin lifting the SP.
Cheers i now have to go and make breakfast. Oh for the good old days when i just got called to breakfast.Now lets see if this morning i can get it right.Bacon in first half cooked before breaking in eggs.And remember to not just put eggs on bench before hand as it is slopped and they roll off and hit floor.Well at least the positive side is that new skills are good for the brain as only learning new skills create more neuron brain connections.
Cheers again have to go.
Digger
Thanks for the idea. We eat porrage,mueslie,toast and bacan and eggs.Eggs are free ranged and sometimes scrapped off the floor.
Note i have changed the date for BBQ from 14th to 07 of March. Denise has big family get together on 15th so does not want things too close .
My place can be found on Googles at 364 Quine road ,just north of Morrinsville. In the coming weeks would like some idea who is coming.Open to all oilers here on sharetrader.Will also email directors to see if i can get any to attend to discuss the latest that is also known in the public arena.
What is a Gamma prospect?