Details of research coverage and analyst contact details are provided here.
Forsyth Barr
August 2010: Forsyth Barr issued an updated research note on 27 August 2010 which values NZOG at NZ$1.67 per share with a buy recommendation. For more information contact Andrew Harvey-Green: andrew.harvey-green@forbar.com
Macquarie
August 2010: Macquarie issued a Research Update on 26 August 2010 which values NZOG at NZ$1.98 per share with a target price of $1.72 and an outperform rating. For more information contact Brooke Bone: brooke.bone@macquarie.com
DJ Carmichael
July 2010: Perth firm DJ Carmichael initiated research coverage of NZOG in July 2010. The Report has a buy recommendation and a valuation of NZ$1.82 (A$1.43) per share. For more information contact jfishlock@djcarmichael.com.au
Credit Suisse
August 2010: First New Zealand Capital provided research coverage for Credit Suisse. Their latest Research Update dated 30 August 2010 has a valuation of NZ$1.46, a target share price of NZ$1.46 and a neutral rating. For more information contact Jason Familton: jason.familton@fnzc.co.nz
UBS
August 2010: UBS New Zealand Ltd initiated research coverage of NZOG in April 2009. Its most recent research note was issued on 26 August 2010 with a buy recommendation.
Craigs Investment Partners
August 2010: Craigs Investment Partners is providing research coverage of NZOG for Deutsche Bank. A initation note issued on 26 August 2010 has a valuation and a target price for NZOG of NZ$1.48 per share with a buy recommendation. For more information contact grant.swanepoel@db.com
McDouall Stuart
October 2009: A Research Note dated 2 October 2009 has a valuation of $1.88 with a buy recommendation. For more information contact John Kidd: john.kidd@mcdouallstuart.co.nz
Morgan Stanley
April 2010: Morgan Stanley in Sydney initiated coverage of NZOG in March 2009. An updated report issued in April 2010 gives a price target of A$1.15.
Aspect Huntley
September 2010: Morningstar is providing Aspect Huntley with research coverage of NZOG. In September 2010 their 'fair value' NZOG valuation was NZ$1.35 per share, with a hold recommendation.
Coverage Summary
| Company | Report Date | Valuation (NZ$) | Target Price (NZ$) | Recommendation |
| Deutsche Bank | Aug 2010 | $1.48 | $1.48 | Buy |
| Macquarie | Aug 2010 | $1.98 | $1.72 | Outperform |
| Forsyth Barr | Aug 2010 | $1.67 | - | Buy |
| UBS | Aug 2010 | not disclosed | Buy | |
| Credit Suisse | Aug 2010 | $1.46 | $1.46 | Neutral |
| DJ Carmichael | July 2010 | $1.82 | - | Buy |
| Aspect Huntley | Sept 2010 | $1.35 | - | Hold |
| Morgan Stanley | Apr 2010 | - | A$1.15 | Equal weight |
| McDouall Stuart | Oct 2009 | $1.88 | - | Buy |
Please note that any opinions, estimates or forecasts regarding New Zealand Oil & Gas Ltd's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of New Zealand Oil & Gas Ltd or its management. New Zealand Oil& Gas Ltd does not by its reference or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.
