By June 30 NZO will have about 1.7 million barrels of Tapis crude to Singapore for a cash flow of about $NZ130 million dollars.
If NZO continues the 5 cent dividend it will cost [after option conversion] around $NZ38 million dollars with around $NZ300 million in the bank if options converted in June 2007.
If NZO can maintain 10 cents dividend which seems quite reasonable with Kupe on stream in mid 2009 - a yield of 5% for a growth stock gives a $NZ2 target fully diluted.
NZO will have cash pouring out of a package of projects.
NZO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
