Forum Archive Index - March 2000

[Rae Kerr <raekerr@xtra.co.nz>]

Thanks Adam for this informative bit of news. I recently bought 10,000
options at 18c only to see them plummet to 6c the next week.
So, one can hold and hope.

regards
Rae Kerr
Ellerslie

Adam Rands wrote:

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


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