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Stop getting excited. Its just a secured OD..........with 1st charge secured on a asset (company) hence why they call it "SENIOR".
Now we can only take another $800k of the $10m "senior lending facility" This has been worked out by average number of barrels recovered x 30 days or 365 days x price of WTI which give you approx $2.5m in revenue of 12 months give or take -/+ $200k.
So they could have called it $100m lending facility but the caveat is you will only get to use up the value of the reserves or assets you have. Hence why the will review it twice ayear (scary).
Now saying the above and being told by said poster that I have not got a clue was silly. I said history is against you and us. Back in 2014 we had a $25m senior lending facility with the same amout of oil.
Just thought I mention that for you!
It's a $10million bank facility so there's over $7.65million headroom above the current borrowing base (which is based on existing proven reserves) that NTOG can utilise to acquire assets with proven reserves at a very low interest rate
800k left but at least the greedy thieving board members continue to take their fatcat wages.
I remember a podcast LOFGRAN did last year and he said about giving out dividends .,. What a load of tosh
You really want to pick on me?
History is against you already.
Could have sworn you said no more from you and that you had grown out of kindergarten 55 years ago :)
Is this Jimzi bell-nd? The latest paid pumper, late to the party were going back down to 0.025p ready for the next placing, no point pumping on way down u mook
LMAO
Bracket, please don’t tell me this “overdraft “ is at 4.4% unsecured and they love you for being such a success as you post here all the time ( and hold shares in such a duff company?)
Hinge, I’m sure your going to let us know you have a massive OD as well at Libor plus nothing ( PS you forgot to recommend Bracket)
Half term soon - time to learn some banking practices.
See u at the back of the bike shed where mama won’t find you.
GL
Long and short of it is. We only got another $800k. It’s in the RNS. This will be reviewed twice a year and it can go or down.
My own company OD is more than this.
Fooking jog on *********
Look at ntog history and stop dreaming
Yep, it’s exactly the same! Reply soooo predictable. I thought Hinge & Bracket had died . Banker sees interim loss- let’s lend them more money then - from the Bank of Steele- in business shorter than a small energy supplier.
Shame no other dross shares can get such a credit card . I wonder why?
Good luck investing cause your world is in a parallel one to mine and most others - credit card- please lol
Most ignorant and immature bb on the site. Well done boys. No more from me, grown out of kindergarten 55years ago.
Que…………………..
Bank facility, total tosh
It’s no different to a credit card company increasing your limit by another few thousand quid encouraging you to spend more money .
The issue with ntog is they aren’t even using the loan facility
Absolute rollox.
And I'm sure a few have gone through the holdings RNS to find around 45% is sticky - well sticky at this low price.
So free float at present under 400m and why are Miton holding 10%?
Banks assess the market value of an asset, knock 50% off the amount and another 50% off the price to give them their safe security value. So you can work backwards from the facility to see the real value.
A few cannot seem to grasp the significance of the banks due diligence on NTOGs reserves - or the fact a bank is prepared to lend money to any AIM company, let alone one with a £3m mcap. - funding is normally via a 50% discount placing..
Nostra Terra Oil & Gas (AIM NTOG) announced a half year loss of $269,000...
Well it's a start. Lol
steelshyt to thick to understand lol. Just be get upthecoat and relieve yourself you worm..
Sounds like rag has little willy syndrome:)
Not as thick as you... Shag worm.
Ragworm with his 2p worth
Quality statement talking about a coat ??? Lmfao
Up the coat are you really that thick?
Just put myself through 7 minutes of the most uninspiring interview Lofgran has done. No enthusiasm whatsoever in the man's voice.
Seemed I was right - just listened to the VOX Podcast
Vanished like they were never here!!
STRETCHUM predicting 2p yesterday, nowhere to be seen
Nicks1981 with his long winded post with fancy figures and numbers, gone off the face of the earth .
Where are our new longtermers??
29-Sep-21 10:50:24 0.604 5,000,000 Buy* 30.20k O
29-Sep-21 16:29:13 0.57 7,500,000 Buy* 42.75k O
29-Sep-21 09:24:33 0.56 8,000,000 Buy* 44.80k O
Ouch!
Haha! Excellent!