The New Zealand Herald reported today that, New Zealand Oil and Gas has been hit with almost $100 million in losses and provisions from its stake in Pike River Coal but is confident it could recover half that when the mine is sold.

NZOG has a 29.4 per cent stake in the Pike River mine, which exploded in November last year, killing 29 workers.

In Comparission in December last year it was reported that NZOG faced a $64 million dollar loss.

The largest shareholder and biggest loser is listed company New Zealand Oil and Gas.

Another shareholder is the Accident Compensation Corporation which has about 17 million shares.

Another public investor is the New Zealand Superannuation Fund, with just under six million shares and a holding in options.

So just how big a hit has the New Zealand public taken?

Facts I am sure the Government won't release prior to the election.

Given the cost of the inquiry, legal aid for the families, rescue costs to the police, an estimated cost of $20 million in compensation.  The losses to small business not paid after Pike River went into receivership and of course the losses to the shareholders.

I'm wondering what the total "hit" to the New Zealand Public will be!

Never forget that the biggest loss was to the families of the 29 miners killed.

Probably the only fact that the accountants and politicians can't massage.