Forum Archive Index - February 2000

[Nick Kearney <nk@xtra.co.nz>]

terry mitchell wrote:
Terry

Thanks for this

I will consider my options it in the next week or two> 

> Nick,


> I think you and other speculators are 'whistling in the wind' where Frontier 
>is concerned. I noticed that the price started rising in December but you will 
>probably be waiting a long, long while because Frontier Petroleum is still an 
>ongoing operating oil exploration concern with interests around the world- and 
>it is not easy to divest that without some publicity about it. And it also 
>does not make sense to carry on world-wide oil exploration while dabbling in, 
>say, e-commerce in New Zealand.
> Furthermore, Eric Watson does not have a majority shareholding in Frontier 
>and it is doubtful whether he can command that majority. As far as I know, he 
>currently has about 23% of total stakeholding in Frontier through NZ Petroleum 
>and Eldercare. To give up all its oil rigs and embark on a new direction would 
>need support from the rest of the shareholders of Frontier, and this is not as 
>easy as would be the case with AQL where Watson and his mates, Wikelely and 
>Sorenson together own some 52% of
> Watson is an astute businessman and entrepreneur. He has interests in all 
>sectors -IT, health, retail, bloodstock, finance and so why not oil too 
>especially if there is a rich find somewhere with rising oil prices and 
>everything.
> It is my belief that the recent speculation on Frontier is not only well off 
>the mark and misplaced but also a bad call by many NZ investors.
> 
> Regards
> Terry
> 
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