Forum Archive Index - March 2000

["Adam Rands" <adam@iguana.co.nz>]

Ok.. I am not sure if this is totally legit but the following message was posted on another overseas message board...

 

its interesting

 

 

 

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I have been doing my NZ Oil and Gas (NZO) maths today. results:

Their market cap in NZ$ is $33M

The value of their 57% of PPP is $25M

This makes NZ$7M for the rest of the coy.

NZO's other assets are:

- their % of Hochstetter owned separate from PPP.
- their 16.5% stake in the undeveloped Kupe oil and gas field in NZ.
- their 35% stake in the onshore Ngatoro Field in NZ.
- their Pike River Coal 75% project in NZ.
- any cash reserves in NZ.

Given the rampant oil price of late, the first three items will be increasing in value rather than decreasing. The chances of developing and/or selling the Kupe field must be greatly enhanced. Also, positive cash flows from oil sales will continue to flow in. Also they were recently placing shares at A$0.40 cents for cash to pay for Hochstetter, so plenty of cash resources prior to the Hochstetter drilling.

People, these shares are massively undervalued at A$0.25 or NZ$0.29, I have heaps and have bought more. Someone will 'come for these'. Bigger companies would be quick to divide up the parts, no problem at all.