Came across this interesting comment in an article by Melanie Carrol (NZPA) that I believe was published in the New Zealand NBR publication around April 29th this year.
In the article appears this comment which I think bears thinking about now in light of the take up of the Options and the likely level of cash injection into NZOG.
"In the unlikely event that all the options were taken up, NZOG would have an equity injection of $208 million, for which it was developing plans.
"If the option money comes in on a large scale, at $100m plus, that may force us to start looking abroad in terms of the scale of opportunities that we need," Mr Roberts said.
A full take up of options would boost NZOG to around 17th-largest company on the stock exchange from 27th currently, and 34th at the end of last year.
It would probably be one of the largest capital raisings on the NZX this year, and was a big deal for the company, said McDouall Stuart energy analyst John Kidd. "
Thursday will give us an update and perhaps final figures on how many Options have been converted. What NZOG's response to that will be could prove to be a major boost to the share price again.
plans afoot
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