Infrastructure

NZOG shares plunge as Ironbark disappoints

Gavin Evans
Tue, 29 Dec 2020

Shares in New Zealand Oil & Gas dropped by almost a third after the company said the Ironbark prospect it was drilling off Western Australia showed no significant hydrocarbons.“Bugger,” chief executive Andrew Jefferies said in a statement on NZX.“Ironbark was a world-scale prospect in a highly prospective address and it needed drilling. We got an answer, but it was not the one we wanted.”NZOG has a direct 15 percent interest in the venture. Its shares fell more than 31 percent to 51 cents, taking their loss this year...

Try free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
A custom library of your saved stories
An industry-leading search engine
Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Support quality New Zealand journalism by subscribing today.

Find out more

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation FREE

Stuff's secret shutdown deadline revealed

Victoria Young | Thu, 28 Jan 2021

Release of redacted judgment shows how close media company came to closing.

Listed Companies

Trustpower toys with selling its customer base

Staff reporters | Thu, 28 Jan 2021

Trustpower is the latest Infratil-controlled asset under review.

Property FREE

Auckland, Wellington rentals now pricier than Sydney

Brent Melville | Thu, 28 Jan 2021

Rental prices are keeping pace with house prices, and tenants in Auckland and Wellington are bearing the brunt.

NZOG shares plunge as Ironbark disappoints

Not convinced yet?

Your company has a subscription

Team