Very reassuring, I like it.
Printable View
The report was certainly a great read and very reassuring to know most of my money is invested in NZ best company. I can find little to complain about.Like the bit where the board fully understands the cash and nil debt of this company especially as it compars to the rest of the oilers and the general finanical world.
NZO is a top investment and if i were not already heavily invested in this company i would waist no time in getting in.
Well done NZO and tops for taking your time about sorting out the present million and one options now rappidly becoming as investment plays.
Digger
Yeah, I also thought that was an aside to PPP holders. As far as the dividend goes, I agree with Rabbi - I think that a dividend now would have underpinned NZO's value to shareholders. Overall, pretty good result, though, they couldn't really be in a better position.
NZO results; :-) . What else can one say? Well done.
The market hasn't exactly given the thumbs-up to the half year. Only up 1 on a good day for the market and for oil. Didn't like the lack of a dividend, maybe?
http://www.stuff.co.nz/4859630a13.html
A deal to be announced soon ?
NZOG's share of remaining development costs for Kupe are "in the tens of millions" while the company has around $200 million available in cash and a further $125 million undrawn debt facility.
Salisbury said the company's strong performance also meant it was frequently approached with new business opportunities including exploration, asset sales and corporate acquisitions.
He indicated NZOG was in the final stages of an exploration deal with offshore partners and the exploration of potential fields adjacent to Tui will begin later in the year.
"The last 18 months have been very successful for NZOG and we intend to continue on a considered and strategic growth path," David Salisbury said.
Last year dividends from the company totalled 10 cents per share - 5 cents from a full year dividend paid in April and another 5 cent special dividend in October. The board says it is committed to announcing a full year dividend in August this year, but no level has yet been determined
NOGs price right now $1.24, interesting quote below from todays financials
"Net Tangible Assets per share: NZ$1.24."
No premium on what is the best company listed on NZX right now
You say it is one of the best OIL companies.
Blockhead reckons it is one of the best ALL companies, secure income, further income soon arriving, exploration prospects, cash in the bank for acquisitions and a spare company up the sleeve for divestment. How to improve ??