New Zealand Energy Corp V.NZ

Up 74% today

[oilinvestor52]

Up 74% , market cap $1.6M

[westshore]

No news on placement closing.Exchange may not have approved it. Thus new bid @.60-.61 Even at this price -too cheap. The 3D seismic-worth more than the proposed .35 placement alone.?!

[victorysquare]

Agreed stock is worth much more probably a market cap of $15M more realistic. The directors are tricky in engineering the capital structure for their personal agendas driven by Mark Dunphy.  In my personal opinion. Do your own DD. 

[victorysquare]

Yes you are correct. The 3D seismic cost about 3X more than where NZ has proposed the $0.38 placement at a mere $800,000 market cap. Poor decision by directors. It should have been a rights offering to all shareholders or a sale of the asset and capital returned to shareholders. That would be the most prudent and fair way of dealing with existing shareholders. 

[westshore]

RE:Last part of News release: The private placement has been well supported by investors. Mr. Willis commented: "The oversubscribed private placement signifies the confidence that our investors have in the company. NZEC is now firmly focused on preparations for the drilling of the Tariki-5 well at the Tariki field." We seek Safe Harbor. Well I guess so---dirt cheap! From the

[oilinvestor52]

And they asking shareholders to approve the creation a new control block with an CDN$800,000. valuation!!!