NZ Oil & Gas stock halted for statement
Dec. 13 (BusinessDesk) – New Zealand Oil & Gas, whose shares have shed 30% of their value in the wake of the Pike River Coal mine explosions, had its stock halted pending a material statement.
The shares last traded at 89 cents, from $1.27 in mid-November. The shares were halted on Nov. 22 and resumed on Nov. 23.
The oil and gas company owns 29% of Pike’s shares, which have remained in trading halt since the deadly mine explosions that killed 29 miners. NZOG kept its short-term funding to the coal mine operator in place to allow it to keep operator during the response to the disaster.