Hi guys, I don't normally post where I don't hold shares, I just dropped in on a speculation.
NZO at the recent AGM indicated two unusual things. One that they did not declare the intention of usual DIV at this time (doesn't necessarily mean it won't happen) and two that they are looking at divesting $60M from the bank balance as we have too much cash apparently. Our next main lot of drills aren't until late 2015 and 2016. So will just be accumulating more cash from sales until then with a reduced forecast quarterly expenditure.
Having no idea or any leads, I've been looking around at smaller O&G companies to see what they have on offer that NZO may be interested in. The Zeta connection also brought me to CUE. My speculation is that PNG or more may be in the wind if they (NZO) see it as undervalued and a profitable asset buy which fits their portfolio (so obviously no top dollar).
It doesn't make me right, I could be way off base, I just thought I'd pass that along as a speculative possible heads up as it appears it may be a fit to their portfolio.....at the right price. Whether that would be a good or bad thing long term for CUE I'll leave to you guys/gals. Speculation wise, if I am right the happiest party would be decided in the fine print. Although I was thinking in the short term it may be a plus for CUE SP (cash influx) and a minus for NZO SP (cash depletion), which wouldn't worry me at all and allow me a nice little accumulation on dip for NZO.
As I said, I could be way off base, hence the title.
Best of luck, have a merry safe Xmas, cheers.
CUE Price at posting:
9.5¢ Sentiment: None Disclosure: Not Held
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