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Nu-oil & Gas Share Chat (NUOG)



Share Price: 0.285Bid: 0.27Ask: 0.30Change: 0.00 (0.00%)No Movement on Nu-oil & Gas
Spread: 0.03Spread as %: 11.11%Open: 0.285High: 0.00Low: 0.00Yesterday’s Close: 0.285


Share Discussion for Nu-oil & Gas


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Royscot
Posts: 609
Opinion:No Opinion
Price:0.285
RE: Chrysaor?
Today 12:16
If that’s the case, MajorMinor then there’s work to be done at pace to convince them otherwise and secure a deal, we must be in that territory now where decisions are to be made. Time for once for this company to be transparent not everything has NDA’s.
 
MajorMiner
Posts: 400
Premium Chat Member
Opinion:No Opinion
Price:0.285
RE: Chrysaor?
Today 12:12
I think the Schooner/Ketch situation is slightly more complex. Both fields along with a lot of other South North Sea gas fields (Conoco) became non viable when the Theddlethorpe Gas Terminal closed and tie backs to other facilities and new gas pipelines were not economic. Last year Faroe was obliged to file decomm plans with OGA however this was prior to DNO acquiring Faroe in January. A G2W option using the Schooner platform would IMO be very appealing to DNO as they would have a saleable asset instead of a big liability. From the bits of reports I've seen the OGA are fully supportive of these schemes which were not really a viable option even late last year.
Royscot
Posts: 609
Opinion:No Opinion
Price:0.285
RE: Chrysaor?
Today 09:40
pCloud, defeat from the jaws of victory, with Chrysaor sowing up the rest of the fields yet again. Could this be why LT was relieved of his insider status earlier than he thought?
pCloud
Posts: 15
Opinion:No Opinion
Price:0.285
RE: Chrysaor?
Today 09:34
SBP. Greetings . If we are imagining talking about GTW and believe its the 2 'projects' to convert K&S Fields owned by Faroe ( DNO) They provided gas to Conoco system. So lets get excited (not) ..

Project Summary
The Schooner SNS gas field is due to be decommissioned along with it's sister field, Ketch starting in September 2018. The project will take approximately 4 years to complete. The fields each have a normally unmanned platform on them, and an export pipeline taking produced gas to the nearby Murdoch platform, which is operated by ConocoPhillips. The Schooner platform has 11 wells drilled from it, and the Ketch has 9 wells. Ketch is in slightly shallower water at 54 metres, but the platforms are of identical design.
The abandonment effort will consist of plugging and abandoning all the platform wells plus one subsea completion (NW Schooner), cleaning and burying pipelines and the removal and disposal of both platform topsides (approx. 1,250 tonnes each) and jackets (approx. 2,000 tonnes each).
The Decommissioning Programmes for both platforms are with BEIS for review and the draft SCAP has been submitted to OGA and a follow up meeting held.
Gate review of well abandonment held in mid September and endorsement gained to advance into concept define.
Decision made to restrict size of Company PMT and to immediately tender for Well Management Company to support PMT and manage large areas of the work. SCAP to be updated accordingly.
Decision made to execute offshore scope sequentially utilising a single jack-up rig. Latest plan shows offshore start at Ketch in early Q4 2019, followed immediately by Schooner.
Discussions ongoing regarding potential reuse of redundant platforms after well abandonment as accommodation support to local wind farm developments.
*****

DNO have already filed the decomm planning . They mentioned they did look at many alternative usage but non were economical.

"The owners of the Schooner field have considered several technical and commercial solutions in
order to prolong field life as described in the Cessation of Production (COP) document; either as a
standalone field or in conjunction with other fields in the area; however, none of them have been
economic. The Schooner field partnership is now seeking consent for the Cessation of Production
in line with the Theddlethorpe Gas Terminal cessation of operations in 2018"

so what now indeed... 'Hotel Schooner NUOG' anyone?
YingTong
Posts: 443
Opinion:No Opinion
Price:0.285
RE: Open offer
Today 08:35
It seems doubtful that Novum has indicated they will take anything (and they are only entitled to participate if they hold any shares which is unknown).

The normal case is that a broker would underwrite a rights issue but it is uncommon for them to underwrite an open offer.

In this case it is definitely not underwritten (see page 14 of the circular).

"If applications are made for less than all of the Open Offer Shares available, then the lower number of Open Offer Shares will be
issued."

(N.b. I assume this 'trumps' the contradiction on page 23-4 which does talk about any unallocated entitlement being placed. Just a poorly put together document from proforma paragraphs).
warrantwatcher
Posts: 1,382
Opinion:No Opinion
Price:0.285
RE: The week ahead & beyond
Sat 14:35
Royscot, I can see that.

However for me there is the over riding factor that Minty is a greedy sod who wants as much as he can get. As it stands the best way for him to get that is from completing a deal, while he has managed to extract a nice lifestyle from this, as well as Damian it certainly hasn't been a life changing amount, that will only come from the business succeeding which is ultimately what he is trying to do. Just not in a way that share holders feel comfortable with.

As to how we have got to this situation. I do believe that the actions leading up to the AGM has led there to be a further, and unhealthy, division between the board & the Share holders. As none of the BOD / Employees have either shares or options the pain in SP decline is only felt by shareholders. Hence the debt for equity deal from Minty realigning this to some extent.
Royscot
Posts: 609
Opinion:No Opinion
Price:0.285
RE: The week ahead & beyond
Sat 12:17
WW, I know which my money is on. Unfortunately, I don’t subscribe to the last minute deal scenario. Odds are much, much higher that we will painfully limp past the open offer date with no news. Remember that the company was forced into offering an OO, it wasn’t by design. I see no cheers for shareholders and cannot fathom why the BOD have allowed the situation to become so perilous other than through reckless neglect or to teach a lesson to large holders over who really calls the shots. #worryingtimes #litigation #fundedbymugs
warrantwatcher
Posts: 1,382
Opinion:Strong Buy
Price:0.285
The week ahead & beyond
Sat 09:32
OK, so we know that the Open Offer window means that existing SH's will need to inform their brokers by COP on the 24th of their intent to participate in the offer. There has been some mention in the last updates of 2 GTW deals being close to completion. The optimistic view could be that they plan to complete the GTW deals before the OO completes ? Especially as currently the SP is at the same price as the OO price.

So looking at what the potential of the GTW could be, and yes this is just one view & musings but if you take the figure given by Alison at the AGM - £25m per year revenue - take off say £5m for production costs etc (probably more) - and then take 15% of that - you are looking at circa £3m to NUOG - take off op costs so maybe £40m Market cap for each deal - circa 2.5p on the SP for each deal added of this level ?

That would be the potential once the revenue is flowing - but you have to take into account that will be in 18 to 24 months time, maybe more as NUOG don't have a track record of doing anything with great urgency.

If you look at something like PVF after the barryroe farm in deal - that only doubled the share price in the first instance - and even over 12 months later is still only around double the deal. Yes the potential for other deals will have to be taken into account - but you have to balance that the company are currently pretty much broke and need money - and even if they get the open offer away they only have 450k (after fees) which won’t take them far.

So realistically if it get back above 1p from this level that would be good (and would no doubt involve a lot of profit taking) - In reality it should get to a new high - above 2p - but just don’t be surprised if it doesn’t.

If Minty converts his debt for equity I think it might go a bit higher than that - but we need to keep in mind that the history here is pretty awful - and if you look in the accounts Minty still has quite a lot of money to extract. However for me should Minty do a debt for equity this could be an even greater indicator of greater growth being more likely.

The other option is that they fail to complete the GTW deal in time and the OO just drifts leaving Novum to take the amount not taken in the OO
SecretBlueprint
Posts: 844
Opinion:No Opinion
Price:0.285
RE: Chrysaor?
Fri 21:32
Sir Jim is suddenly out of the game. Chrysaor have acquired all the Conoco Philips assets for £ 2 billion signed and sealed..

They include the East Irish Sea and Southern North sea gas assets.of which the Chairman spoke.

Where does that leave GTW?
MajorMiner
Posts: 400
Premium Chat Member
Opinion:No Opinion
Price:0.285
RE: Chrysaor?
Fri 21:12
Or Sir Jim's Ineos.
Game on
SecretBlueprint
Posts: 844
Opinion:No Opinion
Price:0.285
Chrysaor?
Fri 19:38
Has some one just eaten Minty's Easter egg?
RogerA
Posts: 420
Opinion:No Opinion
Price:0.285
RE: Open offer
Fri 18:29
Maybe a good number of the current shareholders will be using the excess application facility and there will be none left for Novum!
catchmeifyoucan
Posts: 2,160
Opinion:No Opinion
Price:0.285
Open offer
Fri 18:11
Could it be that Novum (the recent places) have given an understanding that they will subscribe to the Excess Application Facility and take up additional Open Offer Shares? This would allow nuog to raise the required funds regardless.
gougou
Posts: 397
Opinion:No Opinion
Price:0.285
RE: Happy Easter
Fri 08:03
Make that one hell of a erection happy easter all
QuestionTime
Posts: 1,455
Opinion:No Opinion
Price:0.285
Happy Easter
Fri 07:54
Have a great Easter break fellow LTH nuog numpties...like the Easter story hope it ends well with one hell of a resurrection to SP.
QuestionTime
Posts: 1,455
Opinion:No Opinion
Price:0.285
RE: What's the award this year?
Thu 20:37
If only mugs was " Management under Graham Scotton " that would help for starters, just to know they believe in this....and put their freebie ride cash in!!
MajorMiner
Posts: 400
Premium Chat Member
Opinion:No Opinion
Price:0.285
RE: What's the award this year?
Thu 20:33
Hi CM take it you're out again
NowtNu
Posts: 38
Opinion:No Opinion
Price:0.285
What's the award this year?
Thu 20:31
Well the other year we had it rammed down our throats from the Happy Clappy Moonies: Aim Share of the Year or some such pish.

Even at the time it seemed perverse to anyone with an IQ rising above about 50 who was able to analyse basic information without needing help from a responsible adult.

So where are we now? C.4th from top...of the worst AIM performing share list at c. -63%.

Come on, lets have a big shout out for NUOG, one last push and we can clinch that top spot !!

Yaaaay NUOG..get the champagne on ice. Oh it is...every day....for some.... #fundedbymugs
QuestionTime
Posts: 1,455
Opinion:No Opinion
Price:0.285
RE: curious,
Thu 19:54
Maybe Simon meant #bumsqueakingtimes
Royscot
Posts: 609
Opinion:No Opinion
Price:0.285
RE: curious,
Thu 19:34
Lol, indeed QT. Simons tweets as good as money in the bank.
QuestionTime
Posts: 1,455
Opinion:No Opinion
Price:0.285
RE: curious,
Thu 19:18
Come on, we have it in black and white from the communications officer, known to many as simple Simon, and therefore to be viewed in the public domain as a good authority that these are #excitingtimes.
Royscot, you keep on forgetting this, lol.....etc lol...etc...lol
Royscot
Posts: 609
Opinion:No Opinion
Price:0.285
RE: curious,
Thu 19:06
Where do you get your optimism, Sharelock? Do you honestly believe they actually have something up their sleeve? How many times does this useless company have to demonstrate their ability to clutch defeat from the jaws of victory before people learn? #fundedbymugs
Sharelock
Posts: 1,873
Premium Chat Member
Opinion:No Opinion
Price:0.285
RE: curious,
Thu 15:35
It's worth noting a lot of brokers require notification earlier than the deadline. HL for example the deadline is 30th April. Therefore if they are going to deliver news to convince people to take up the OO they need to do it in the next 5/6 trading days....
But knowing NUOG they will probably deliver an RNS before the OO closes but after we have the opportunity to notify our broker!!!!
MajorMiner
Posts: 400
Premium Chat Member
Opinion:No Opinion
Price:0.285
RE: curious,
Thu 15:28
I'm waiting for the RNS on 25th
Monkeybusiness
Posts: 1,421
Opinion:No Opinion
Price:0.285
RE: curious,
Thu 15:22
Good point, Hublot. And good plan, Timbo!




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