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VIDEO EXCLUSIVE: TSX-listed Transglobe Energy Corporation considers London listing Watch here

VIDEO EXCLUSIVE: TSX-listed Transglobe Energy Corporation considers London listing


Nu-oil & Gas Share Chat (NUOG)



Share Price: 1.005Bid: 0.99Ask: 1.02Change: -0.015 (-1.47%)Faller - Nu-oil & Gas
Spread: 0.03Spread as %: 3.03%Open: 1.015High: 1.02Low: 0.975Yesterday’s Close: 1.02


Share Discussion for Nu-oil & Gas


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mainshare
Posts: 2,346
Off Topic
Opinion:No Opinion
Price:1.005
RE: The hold up
Today 22:16
whats the hold up...if they have flow rates the market should be informed...this is a PLC...not a privately run company
 
Infapound
Posts: 975
Off Topic
Opinion:Strong Buy
Price:1.005
RE: The hold up
Today 21:11
They will need a number of wells to pull the expected volume out of the ground within a reasonable time - 20 years or so.
Farm-in is essential IMO

Lots going on behind the scenes but ALL very positive!

And then the first MFdev project - whether that be Barryroe or I3e...........

GLA
RICH3R
Posts: 8,488
Research
Opinion:No Opinion
Price:1.005
chart
Today 21:04
mbev
Posts: 890
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:1.005
RE: The hold up
Today 21:02
It's a theory that may have something behind it. In Jan they said

"PVF are currently concluding discussions with two further parties who will also form part of the consortium and provide complementary services."

Yet by April they had concluded ...

"Further parties are seeking to join this consortium, however PVF currently wish to conclude the first two phases of the Work Programme, as described above, before allowing other parties into this group."

It's not clear, Said however, if the "phases" referred to above are the same as the two "stages" referred to in terms of the operations being conducted.

I suspect that looking at the capabilities of the existing partners, in order to get into production they will need more logistical support, so that is likely to be the capability they are seeking to bring rather than well completion ops (for which they have the rig at the ready)?
Infapound
Posts: 975
Off Topic
Opinion:Strong Buy
Price:1.005
RNS 3/7/17
Today 20:51
Further to the announcement of 22 June 2017, NU-Oil, the independent Oil and Gas Company, is pleased to announce that operations on onshore petroleum lease PL2002-01(A) in western Newfoundland, Canada have commenced. Approval for the first phase of the work programme has been received from the Department of Natural Resources and PVF Energy Services ("PVF") have commenced the approved operations.

As previously announced, PVF have agreed to provide 100% of the financing for a work programme which will consist of two phases ("Work Programme"). The first phase involves a wireline operation to clean up the PAP#1-ST#3 well and mill out a physical obstruction in the completion that is believed to have been restricting flow. The well will then be flowed for a period anticipated to be between 15 and 30 days to allow for reliable analysis and evaluation of the resulting production. Subject to satisfactory results, a rig will be mobilised to site to undertake the second phase of the Work Programme, which will include recompletion of the well and installation of an appropriate artificial lift system.

The Company and PVF have agreed to share Net Revenue from production from petroleum lease PL2002-01(A) on a 50/50 basis following cost recovery by PVF. Enegi Oil Inc, NU-Oil's wholly owned subsidiary, will remain as Operator.

Pursuant to the Production Sharing Agreement, PVF have the right to drill new wells on the lease. Both the Company and PVF expect to conclude a farm in agreement to cover this scenario in the near future.

PL2002-01(A) contains the Garden Hill Field Trend, which is a proven hydrocarbon bearing accumulation beneath the Port-au-Port peninsula in Western Newfoundland that is estimated, based upon internal reservoir models, to contain between 83 and 341MMBO in-place, increasing to between 136 and 591MMBO when considering the mapped offshore extent. PL2002-01(A) covers an area of 16km2 and holds between 21 and 97MMBO of this total. Initially discovered in 1994 with the "PAP#1" well, the conventional Lower Ordovician, Aguathuna Formation reservoir has since been penetrated by three appraisal side-tracks, which support the theory that reservoir productivity is linked to hydrothermal alteration. Extensive testing at the Garden Hill Site observed a lack of pressure depletion, indicating that a minimum connected volume in excess of 100 million barrels of oil is present.

GLA
Infapound
Posts: 975
Off Topic
Opinion:Strong Buy
Price:1.005
View Thread (2)
The hold up
Today 20:45
IMO is down to PVF negotiations with potential JV's.
Phase 1 - blockage removal and flow tests are complete.
Phase 2 - will need a JV so we wait...

'Patience is not simply the ability to wait - it's how we behave while we're waiting.'

So let's all wait and behave :)

GLA
badger333
Posts: 1,201
Off Topic
Opinion:No Opinion
Price:1.005
View Thread (3)
RE: Nuog plc
Today 20:16
just need to keep treading water and when news comes swim as fast as you can,unless your bat girl and fly
Batgirl
Posts: 128
Off Topic
Opinion:No Opinion
Price:1.005
View Thread (2)
RE: Nuog plc
Today 19:55
I'm gonna have a look at PVR accounts release 21st September, see if they say anything about this well post balance sheet events section...Whatever Minty is releasing news wise must be legal, as they have a NOMAD broker to advise on RNS requirements.

Rough on here today, negatively when falling sp as usual on BBs, suspect more trolls incoming tomorrow.
badger333
Posts: 1,201
Off Topic
Opinion:No Opinion
Price:1.005
View Thread (2)
RE: Nuog plc
Today 19:40
lets hope for a rns tomorrow to wake this share up
mbev
Posts: 890
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:1.005
RE: Nuog plc
Today 19:30
Mainshare

You may be right - you may be wrong. Personally I've not seen any definitive evidence to be able to say one way or the other. It may be - for example that they are still waiting to get the results checked by a competent person, or waiting until the phase 2 plan has been formulated and approved? We just don't know enough to be able to say with any certainty IMO




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