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https://twitter.com/Blowster85/status/1449994305146392578?t=1lqXpK1bbuxPVzQaXRGdoA&s=19
https://www.wsj.com/articles/crazy-bets-on-200-oil-invade-the-options-market-11634463002
Kerching!
https://www.cnbc.com/2021/10/14/goldman-sees-sustained-high-prices-for-oil-in-the-coming-year.html
After your last rant.
Are you trying to us issue was with PRODUCTION.
Well thought you there in the end.
It is not that simple.
Re H1 AVERAGE was 84 bopd. Do you understand what an AVERAGE is?
We haven't lost 21 bopd: production was off line because of that big freeze and then it had to be put back online. Power was down everywhere, top side equipment was damaged in the freeze. On the fields I have we had to wait two weeks for power to be hooked up again. Then there was two big storms. When they have big storms, they shut in production: not just NTOG, everyone.
We haven't had that in Q3 so the AVERAGE will be higher than H1 and the current run rate higher still. On my fields we have just put two wells back online: it cost $45k to do. Everyone else will be looking to do the same, including NTOG. At $40 oil it is a maybe, should we put them back online? At $80 it is a, we have to do it now thing. NTOG has already stated it is doing a reconnection programme.
At $80 messy wells that need a bit of capex and TLC are worth it.
DYOR
Demand has gone up. Simple.
Saudis will have pressure put on them to increase output soon enough as always. Give em a few months to make up losses over COVID slum.
You keep going on about WTI and supply. Your sounding like a snake oil salesman. It hasn’t made a a ‘four king’ difference to NTOG SP. I keep telling you is PRODUCTION we need. You’ve banging on about WTI and posting prices since start of Year. However even the price increases makes no difference to us. Why?………..simple answer we lost around 21bopd production ( THERES THAT WORD AGAIN) for H1. If we loose 1.25 bopd in production it wipes any daily price increases . Hence why I’ve said production is more important than WTI price. Providing we are on the right side of break even point.
Ruble hits 10-Month High as Crude Oil rallies towards $85
If there is plenty of oil, why is it at $82 and not $40?
There’s no fool like an old fool.
There’s plenty of oil in the world. Stop talking about others. Its little old NTOG we need to know about. PRODUCTION is the key. Not some article trying to create demand/self interest.
Oil companies are valved to the sum of all the parts. Simply putting in Production/wells/assets/profits.
https://ninepoint.com/alt-thinking/audio/the-oil-party-has-just-begun-with-eric-nuttall/?TwitterNPP
Billy, Billy, Billy..
I see I am going to have to make you a special project.
First read the article, you will see it is balanced.
Secondly, there is a thing called read across. The valuation of other oil & gas stocks affects the valuation of NTOG. The read across can be reserves, production, FCF or DCF valuations.
Thirdly, it is saying that all O&G companies are historically undervalued both large and small.
Fourthly, there just not enough fossil fuel to go around at current prices.
Lastly, it looks like there is a market disconnect and supply may be stunted for the foreseeable.
Q3 update shortly.
xx
DYOR
Errr…….
Only problem is we are not a USA oil stock. We are a UK oil stock.
And again WTI hasn’t done a thing for SP.
Now again I’ll give you the narrative to push for the Next couple of weeks and then see what happens to SP.
PRODUCTION PRODUCTION PRODUCTION PRODUCTION & PRODUCTION.
Justbe not that I would want to influence you at all as you know what your doing etc.
Target should be .25 to .28 to be on the safe side.
Be prepared to be locked in. Anyone hold above this it’s pointless selling. At some stage it has to spike to get any credibility for the next placing which is nailed on.
Now would be a good time to pick up a half decent gas asset.
https://www.channelnewsasia.com/business/china-looks-lock-us-lng-energy-crunch-raises-concerns-sources-2246511
Still not seen anything that would warrant selling elsewhere to buy back in here. Imo.
*buy back in
Still looking to time your but back in, I see.
Q3 update soon; what are you going to say then?
Significantly reduced loss for the period of $269,000 (2020: $437,000)
(RNS Interim results 30th Deptember 2021.)
Has NTOG ever been profitable since inception?
I don't think so, lived from placing to placing. Imo.
Ps Half a year next week, blah, blah, blah.
Dress this pig up as you desire :)
O dear look which way it’s going
WTI $81. Kerching!!
I understand far more than you think/imply or condescend. Remember we are in little old NTOG together. Difference is you paid for yours my are all free.
Just nice to play devils advocate!
Who said anything about irresponsible?
The issue is price movement and then costs.
If the price is moving up why would you hedge? I reckon that the only reason you would hedge at the moment was if Washington Federal wanted NTOG to hedge. It doesn't look they have required it so they must be on board with the rising oil price narrative.
Personally, I would look to start hedging some production around $85. If WTI is $85 he might get 12 months at $78/$80. I have not looked at what hedging is available for a few weeks so I am not current on what is being offered.
Anyway, we should have the Q3 update soon and maybe you will understand a lot more or maybe not...
DYOR
It wasn't irresponsible at all. Perectly appropriate question.
I wounder what price we may have hedged or will be hedging. Its helps to do my sums.
Micawberism, old boy.
Still in place.
What you is it being used?
Why would NTOG put hedges in place if they are certain prices are rising?
Personally, I would look to start hedging around here.
DYOR