NZOG readies war chest for opportunities

NZOG readies war chest for opportunities
Gavin Evans
New Zealand Oil & Gas said it is ready to pursue opportunities that the current market turmoil may provide.The firm, which started the year with $105 million of cash on its books, said that is held in a mix of US and New Zealand dollars with large, AA- rated banks.“Although it is not collecting high interest in the current rate environment, it is secure and ready to be deployed,” chief executive Andrew Jefferies said in a statement.“We are ready to take advantage of opportunities that this market is likely to produce.”The firm's shares fell...

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