Na, not me mate. Have not been to that part of the woods for awhile. Must be one of the distance relatives..LOL
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True
But I really struggle with the quality of investors on NZO's books. If the shareholders are not prepared to dish out just over a dollar to buy the stock today, then what makes you think that they will be all rushing to the register to dish out $1.50 in a few months time.
I personally don't think that the investors in this stock have the cash to stump up $1.50 per share. (except for the management that is, on their flash incomes and recently voted increased fees).
New Zealand Oil and Gas Ltd (NZOG) has been advised by AWE Ltd, the operator of
the Tui Area Oil Project, that the clean-up of oil along a section of the Taranaki coast has
been completed.
While Maritime New Zealand is conducting further tests, the Tui Joint Venture accepts
that the source of the degraded oil was a discharge of oil-contaminated water from the
Floating Production, Storage and Offtake vessel Umuroa on Sunday 21 October.
Immediate measures have been taken to guard against any repeat of this incident.
Production operations at Tui have continued uninterrupted since the incident. The
integrity of the production wells and facilities is not in question.
AWE is co-operating fully with Maritime New Zealand and the clean-up costs will be met
in full. These costs are not expected to be material. A decision on whether or not there
will be any further action lies with Maritime New Zealand.
that is good news, I got out on the spill ann, will get back in later in the week.
seems like there is no oil leak form the well as few suggested. whats next? big tsunami is going to come through and take out the Umuroa?
baggers will hop on any scap of news and try and make it worst case scenario. I mean honestly NZO is a jv partner if anything big went down im sure AWE would be upfront with market.
a good positve announcement. As mentioned in my prior post, it was an opportunity for some good pr to alleviate any concerns investors may have had. There is of course the possibility of a fine however i dont believe this will be significant. The reason being was the operator notified Maritime NZ at the time. sbject to no discrepencies in the report then any fine will be minimal.
This years options fall into two catagories.
I am not quite so annoyed about this years staff options as last year.If i remember correctly last year i could not get anyone worked up about them. This year the options are further spread to other directors and management which is desirable.The fact as i stated before these staff options are exercised in two years and must pay 20% more at that time compared to when they were taken up. Helen is already moaning that in the US these are given free. But then the US is going backwards so are no longer a good example.
The options issued to TR are a different story and i did not vote for them. Last year TR seemed to hog the lot or throughout the year organise it so as to benefit himself,which was not a good showing especially when the rest of us had to pay full price at the cash issue. You might also remember at last years AGM i told TR he was not well liked or trusted by the brokers for this very reason.Some afterwards told me he is on a par with brokers for trust and respect which i find very easy to agree with..Nevertheless we need brokers on side to help lift info of the company and the SP.
Furthermore i feel nothing would give the company and the SP a boost as much as TR making a formal statement that he will not take up these options authorised this AGM nor any in the future until the SP is north of 2 dollars.That would not only recognise the seemly forgotton average shareholder as it now stands but would in turn benefit himself greatly as he is by far the largest single shareholder.To me TR grabbing more shares now is proverbially penny wise and pound foolish.It just does far too much image damage to the company.
Unless we all want the SP to stay at about a dollar forever,shareholders will have to organise before the next AGM to this effect.Image control will be important from here on in and i have come away from the recent AGM being very aware that this is collectively more fully understood by the shareholders than by the directors and management.
Watch this space if there is not change in image management in the coming future.
Digger
With NZO earning the revenue that it currently is & with it set to continue for some forseeable time - if the SP doesnt head north it will get taken over in a hostile raid...
At the moment there would be plenty of grumby holders happy with $1.30 right now!
I wouldnt be personally, but do see this as a real prospect...
I hope im wrong
You're perfectly correct Shasta. There is now a significant amount of cash flowing into NZO, however the ordinary shareholder is not seeing any of it therefore they are not motivated to place more value on the SP. However, a takeover has the ability to tap into the true value of the company, therefore a would-be taker-over would be motivated to offer a higher value on a share than the ordinary investor is currently willing to pay.