Monday, July 19, 2010

Long Term View: NZ Oil & Gas Ltd



In this series of posts I am going to be looking at stocks listed on the NZX in relation to their returns to shareholders over the life of their listing -what shareholders would now see in their back pockets if they had invested in the company IPO. The calculation of returns includes dividends and tax credits.

NZ Oil & Gas Ltd[NZO.NZ] has been a good performing stock since its September 1981 listing at 35c*. NZO shareholders have done well. With 15c in net dividends and 30% more in tax credits (see chart above) and numerous dilutions in shareholder capital** gives NZO a 410% return (see chart below for the share price percentage gain against the average of all NZX indexes - does not include dividends, tax credits and the share split in its calculation) and over the nearly 29 year listing of NZO an approximate annual net return of just over 14%.

This is approximately a 100% worse return when compared to the average of all NZX indexes.


1989 adjusted price, so actual returns could be higher or lower*
Capital raisings for NZO & [PRC.NZ] and various calls to the market for funds estimated at a 20% dilution for shareholders**





Long Term View Series

Auckland International Airport
Air New Zealand
AMP Ltd
Briscoe Group Ltd
Cavalier Corporation Ltd
Contact Energy Ltd
Delegats Group Ltd
EBOS Group Ltd
Fletcher Building Ltd
Fisher & Paykel Appliances
Fisher & Paykel Healthcare
Freightways Ltd
Goodman Fielder Ltd
Hallenstein Glasson Holdings Ltd
Hellaby Holdings Ltd
Kirkcaldie & Stains Ltd
Kiwi Income Property Trust Ltd
Mainfreight Ltd
Michael Hill International Ltd
Metlifecare Ltd
New Zealand Refining Ltd
New Zealand Stock Exchange Ltd
Nuplex Industries Ltd
Port Of Tauranga Ltd
Postie Plus Group Ltd
Pumpkin Patch Ltd
Restaurant Brands Ltd
Ryman Healthcare Ltd
Sanford Ltd
Sky City Entertainment Group Ltd
Sky Network Television Ltd
Steel & Tube Ltd
Telecom NZ Ltd
Telstra Corp Ltd
Tourism Holdings Ltd
The Warehouse Group Ltd


NZ Oil & Gas @ Share Investor

Discuss NZO @ Share Investor Forum
Download NZO Company Reports

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The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
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