Remember the NZO board has the ambitious targets of 2mmboe annual production, & P1 (or 2) reserves of 25mmbo
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Without Prejudice!
It seems possible, that the group of individuals, with the 400 years of experience are resting on the laurels of there past [achievements?] and are happy to collect as long as they are let to do so, or leave when the coffers are running low.
The present mix have had now quite a run to prove them self, unless [Luck?] redeems them with the last drill in the present series, some heavy pruning has to be done and the quicker the better.
From NZOG.com: "June 2010: Forsyth Barr issued an updated research note on 14 June 2010 which values NZOG at NZ$1.77 per share with a buy recommendation."
Has anyone seen this report...?
there are still the millions of 1 cent partly paid shares in the hands of staff out there as well.........
i guess there will be no dilution for the next wee while.
it will be interesting to see what kupe adds to the coffers in the near future.
i guess the divi stream will also be a trickle.
with interest rates on an upward cycle again, bank rates are looking better than nzo stock.
i truely wonder sometimes what company board members think of longterm shareholders?
the shareholders keep the company afloat, and the board and speculators reap the rewards.
Hero to zero - because they hit dry wells.
Guys - this is the game that they are in.
If they hit a gusher, sp will be $2.00 and they will go from zero to hero again.
No -but it sure sounds good when all we see is the share price falling and pessimistic posting .
As far as my perception goes AWE has been saying for some time that this drill was likely to become a gas injection well . Hydrocarbons were found -just not enough at current prices to extract to make it a better proposition than injecting gas . Being a small collection in a small entrapment it could be well suited to storing the gas they will soon be prohibited from flaring .
Hopefully in this current drilling season they have saved the best for last-it aint over til the fat lady sings !
Am also hoping the rig gets moved in the next 3 days when there should be a weather window
BALANCE,,
i can live with the nature and odds of exploration, but this co. is by its relative overall performance too top heavy, seems to lack energy,vision and innovation amongst quite a view other things and yes i can see why a lot are quitting and more will get out, if this is not addressed.
Meanwhile the cost of keeping them may not be justified for much longer.