analyst still postive and so am i
Amin Haque, Stonecap Securities (10/18/12) "New Zealand Energy Corp. has provided an update on its ongoing drilling program in the Taranaki Basin. . .while 2012 drilling and production targets have been scaled back, the company now has a 2013 exploration and development plan that is much larger in scale and scope. . .New Zealand Energy is still an exploration-stage company whose true potential is currently unfolding. . .we maintain our Outperform rating."
David Buma, M Partners (10/18/12) "New Zealand Energy Corp. provided an operations update. . .Waitapu-1 encountered hydrocarbons in both the Mt. Messenger and Urenui formations. . .installation of an artificial lift is underway at Copper Moki. . .underlying our Buy recommendation is New Zealand Energy's short but successful track record, steep production trajectory over the next 12-18 months, the upside of the East Coast Basin and the attractive valuation."
Bill Newman, Mackie Research Capital (10/17/12) "New Zealand Energy Corp. has commenced the installation of artificial lift on its three producing Copper Moki ("CM") wells; following initial adjustments, management expects production rates from CM to stabilize and increase. . .completion of the eight well drilling program and the 3,000 boe/d production target has been pushed from year-end 2012 to Q1/13. . .although completion of the eight well drilling program and the Waihapa acquisition have been shifted to Q1/13, New Zealand Energy remains poised to add production and cash flow through its aggressive exploration program in the Taranaki Basin. We maintain our Buy recommendation and $3.90 target price."
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