NZOG at 'crossroads' in NZ without international explorers

Mon, 09 Sep 2019

By Gavin Evans Sept. 9 (BusinessDesk) - New Zealand Oil & Gas says it is too small relative to the size and risk profile of its exploration portfolio. The firm is recommending shareholders accept a takeover by near 70 percent major shareholder OG Oil & Gas at 62 cents per share, the bottom of the independent valuers' range, which values the minority holdings at about $30.7 million. It says its operating environment changed fundamentally with the government’s ban on new offshore exploration in April 2018. NZOG shares fell 2.4 percent...

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