NZ Oil & Gas battens down the hatches but keeps $100m warchest
New Zealand Oil & Gas is conserving its operating cash burn but has nearly $100m to spend on distressed assets. With special audio feature.
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Hawke’s Bay
New Zealand Oil & Gas [NZX: NZO] is battening down the hatches and cutting costs in the face of the plunge in oil prices.
But it’s holding on to nearly $100 million of cash, for now at least, because it thinks it may be able to buy distressed assets.
The company has reported a net loss of $45.2
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Jenny Ruth
Tue, 01 Mar 2016
Tue, 01 Mar 2016
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NZ Oil & Gas battens down the hatches but keeps $100m warchest
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