NZ Oil & Gas Ltd [NZO.NZX] is an almost 30% shareholder in Pike River Coal Ltd [PRC.NZX] and as such will clearly be impacted greatly in terms of the financial impact on it in relation to the Pike River Coal disaster which looks to have taken the lives of 29 brave men.
Its shares maybe suspended until Tuesday, as PRC's will be and follows the suspension of both on their listings on the ASX.
Apart from the tragedy, it will be hard to fathom the financial impact on NZO, but it will be substantial and as such will have a material impact on the share price of the company.
It is possible that the PRC mine may never be put back into commission, so this would mean PRC the company would be no more but this could be an opportunity for investors to get NZO shares on the cheap - they at least have oil assets to fall back on.
Best to all the families down on the West Coast. Our thoughts are with you.
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