Let's check out New Zealand Energy Corp. (CVE:NZ or NZERF) today and see how well they're doing drilling for oil and gas in the land of kiwis. The good news is that it's had positive net income for the last two quarters, and I'll admit that I'm impressed to see that from a junior resource company so soon after their IPO. Most junior exploration companies struggle along with barren properties for years and do nothing but raise further capital that ends up in the pockets of senior management. This one isn't like that. They even had a massive pile of CAD$70M in cash as of March 31 to continue their exploration program. Hallelujah.
It's really nice to see a very experienced management team running this show. Their CEO isn't a geologist but I can forgive that given the bench strength the entire team has in the resource sector. It's worth noting that several of these executives also have relationships with Southern Arc Minerals (CVE:SA), which can be good if it adds to their industry knowledge or bad if it distracts them from NZERF.
This junior carries much less risk than its peers of similar vintage because it is actually in production. I think I'll keep this one on my radar, provided they keep producing.
Full disclosure: No position in CVE:NZ or CVE:SA at this time.
It's really nice to see a very experienced management team running this show. Their CEO isn't a geologist but I can forgive that given the bench strength the entire team has in the resource sector. It's worth noting that several of these executives also have relationships with Southern Arc Minerals (CVE:SA), which can be good if it adds to their industry knowledge or bad if it distracts them from NZERF.
This junior carries much less risk than its peers of similar vintage because it is actually in production. I think I'll keep this one on my radar, provided they keep producing.
Full disclosure: No position in CVE:NZ or CVE:SA at this time.
