Forum Archive Index - September 2000

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

My hard luck story

A few months ago  was sitting on a 2.5k paper profit for 10 minutes work
(arbing the NZ Oil options between NZ and Aussie).. Soon after my trade I
got distracted (for several days) and ended up not closing out my position.

Months later I now find myself sitting on a 8.5k loss (made worse with the
weak NZ dollar) and more NOG options than I care to own.

I have finally shunted the stock to the NZ register (more liquid) and am
keen to offload them to the best bidder (bids over 15cents appreciated).

NZOG always promise the earth (and sometimes oil). They talk up their stock
before drilling programs, the usual stories do the rounds between select
brokers but they never mange to deliver...

So that's my hard luck story. What's worse is I have plenty others ones...

Can anyone beat that?


-----Original Message-----
From: Derek <dkw@paradise.net.nz>
To: sharechat@sharechat.co.nz <sharechat@sharechat.co.nz>
Date: Wednesday, September 06, 2000 5:00 PM
Subject: Re: [sharechat] strong buying in NOG


>There seems to be little news of late from NZOG, but the historical
>statements and background can be found at the ironic address of
>http://www.nzog.com.au/
>
>They were meant to start drilling in August (see below) however there has
>been no news of this.
>
>"In Australia, the focus is the offshore Carnarvon Basin, where NZOG’s
>subsidiary will drill the Tusk oil prospect in August. Tusk is positioned
>between the recent Corvus gas find and the recent Oryx oil discovery"
>
>Even though the upswing today in NOG was very subtle, it may point to the
>fact that some news will be announced soon. Then again it may not.
>
>Derek
>
>(own NOGOB)
>
>
>
>
>At 02:56 PM 06/09/00 +1200, you wrote:
>>   Les I haven't been following NOG. Could you update us on what  holdings
>>they have and where they are drilling etc. GPT    ----- Original Message
>>-----    From:    Les    To: sharechat@sharechat.co.nz    Sent: Wednesday,
>>September 06, 2000 12:59    PM   Subject: [sharechat] strong buying in
>>NOG
>>   Upward price pressure developing in NOG today,    this stock is overdue
>>for a major upward correction after being heavily    oversold.   With a
>>couple of good drilling results this    company could easly get to 60c +
>>
>
>
>
>
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