given that some people are floating the idea that NZOG is going to make an offer for PPP which would blow ~100 million of their precious war chest then I guess he might think this talk is unhelpful:o
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Notie, would you go so far as to describe it as "a rumour" or "an industry rumour"?
"E&P" is eggs and poultry?
So rather than staying in the Taranaki basin, where NZO & JV partners have the seismic data & know the structures fairly well, you would rather the BPT "global approach"?
NZO could look at CSG, UCG, Hot Rocks, Coal mining, Wind farms, extracting methane from cow pats, who knows...
But let's stick with what we know (oil & gas) & in the area we know.
The Romanian project looks like a cheap opportunistic play, to test the waters...
Question is, does NZO wanna join the masses in OZ/US onshore, or do we start hunting for offshore elephants (Phillipines, SE Asia etc)
What most tend to err on here is that PPP is a different more valuable company if PPPV is successful. 75cents a share would be a better deal if successful than the origional 35 cents was when the first 15% of ppp was bought.On the other hand if bought at 75 now and PPPV is booted out or for some reason not yet know is a failure then the 100 million would indeed be waisted. Therefor no action if every any until the results are known.
strange how we are talking about unhelpful comments on sharetrader then TV1 starts up.
Quite right Digger
I have found TV1 (&TV3) to be quite missleading in the past as they
dont know what they are saying.
When they bring in Gaynor or Morgan then things can be different.
I like to tape any news reports so as too FF all the crap (95%)
and repeditive TV made Saga's.
e.g. Who gave a stuff about Tony Veitch's bizz ?? Only TV !!
BB
NZ Oil & Gas cut to "hold" by research unit
Thursday 18th June 2009
New Zealand Oil & Gas, whose stock has gained 28% this year as crude oil rallied, was cut to “hold” at Morningstar’s Aspect Huntley research unit, which said the company has limited scope to extend its gains from current levels.
Shares of NZOG slipped 1.2% to $1.60 today. The shares are valued at $1.65 based on sum-of-parts and discounted cash flow valuations, Aspect Huntley said in a report this week. While NZOG will benefit from higher prices, is well resourced to expand and has some promising reserves, it is a relatively new player in oil exploration and would face a gradual decline in sales and earnings if it can’t find additional reserves.
NZOG is forecast to post profit of about $42 million in 2009, excluding unrealized foreign currency and derivative gains, rising to $52 million in 2010, the research firm said. The company is being cautious in committing its $200 million of cash to acquisitions to avoid overpaying, though as the price of crude rises, potential sellers will lift their expectations of asset values.
Brent spot crude has soared about 60% this year, part of a rally in commodities that’s been helped by China’s thirst for raw materials. Crude was recently at US$69.29 a barrel, up from US$43.29 at the start of the year.
The company’s 12.5%-owned Tui oilfield is likely to meet management’s full-year output forecast of 9.2 million barrels, while Kupe’s 2010 output will be a lower-than-expected 2.8 million barrels, reflecting the delay to production to the fourth quarter of calendar 2009, it said. Kupe output will rise to 5.67 million barrels equivalent in 2011.
Businesswire.co.nz
http://www.sharechat.co.nz/article/9...arch-unit.html