Details of research coverage and analyst contact details are provided here.
Deutsche Bank
January 2012: Craigs Investment Partners provides research coverage for Deutsche Bank. Their latest research note dated 18 January 2012 has a valuation and price target of NZ$1.13 and a buy recommendation. For more information contact Grant Swanepoel: grant.swanepoel@craigsip.com
Macquarie
January 2012: Macquarie issued a research update on 19 January 2012 with a NZOG valuation of NZ$1.56 (including exploration potential), a target price of NZ$1.18 and an outperform rating. For more information contact Brooke Bone: brooke.bone@macquarie.com
Goldman Sachs
December 2011: Goldman Sachs initiated coverage of NZOG in August 2011. A research update issued on 1 December 2011 has a valuation of NZ$1.05 and a price target of NZ72c with a hold recommendation. For more information contact Matt Henry: matthew.henry@gs.co.nz
Credit Suisse
December 2011: First New Zealand Capital provides research coverage for Credit Suisse. Their latest research update dated 14 December 2011 has a valuation of NZ$1.13, a target share price of NZ$1.04 and an outperform rating. For more information contact Jason Familton: jason.familton@fnzc.co.nz
Forsyth Barr
December 2011: Forsyth Barr issued an updated research note on 16 December 2011 which values NZOG at NZ$1.12 per share with an accumulate recommendation. For more information contact Andrew Harvey-Green: andrew.harvey-green@forbar.com
Morgan Stanley
August 2011: Morgan Stanley in Sydney initiated coverage of NZOG in March 2009. The most recent report issued on 25 August 2011 has a valuation of A76c and price target of A57c with an equal-weight recommendation. For more information contact Philip Bare: philip.bare@morganstanley.com
UBS
December 2011: UBS has covered NZOG since 2009. UBS issued an updated NZOG research note on 14 December 2011 with a buy recommendation.
Morningstar
September 2011: Morningstar provides a research service and has covered NZOG since 2009. The latest report dated 12 September 2011 has a price target of NZ80c with a hold recommendation.
McDouall Stuart
December 2010: McDouall Stuart's most recent Research Note is dated 14 December 2010. McDS has an NZOG valuation of NZ$1.11 (excluding Pike River interests) with a hold recommendation. For more information contact John Kidd: john.kidd@mcdouallstuart.co.nz
Coverage Summary
| Company | Report Date | Valuation | Target Price | Recommendation |
| Macquarie | Jan 2012 | NZ$1.56 | NZ$1.18 | Outperform |
| Deutsche Bank | Jan 2012 | NZ$1.13 | NZ$1.13 | Buy |
| Credit Suisse | Dec 2011 | NZ$1.13 | NZ$1.04 | Outperform |
| Forsyth Barr | Dec 2011 | NZ$1.12 | - | Accumulate |
| Goldman Sachs | Dec 2011 | NZ$1.05 | NZ72c | Hold |
| UBS | Dec 2011 | not disclosed | Buy | |
| Morgan Stanley | Aug 2011 | A76c | A57c | Equal-Weight |
| Morningstar | Sep 2011 | NZ80c | Hold | |
| McDouall Stuart | Dec 2010 | NZ$1.11 | - | Hold |
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.
