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Can't see rns out yet Would this indicate possibly Northcote sub dividing between assets at shoats creek and Oklahoma and Mexico and multiple companies being created Randy gone and new direction going forward with new board
Change of name from NCT
Goodbye Northcote, hello Mayan Energy
If I may reply to yours and Mr magics question re covering administrative and running costs for next financial year as I and maybe others see it Hopefully next rns will indicte position company is at now re Gas and oil production at all fields and wells Income being generated at remediation plant and rate of tonnage per day and sales And also now as orslega has stated rather than dilution funding from bank and institutions mid term debt which can be serviced through revenue and provide invesent for further development in wells and plants rather than giving up participation rights to 3rd parties and further dilution If I'm naive in believing this may be the way forward let me know Dyor
A valid question colinH100, such a well researched long term investor must have a good understanding of the finances and as you have never asked the question before then they will surely reply to your request.
magic top three for 2016 MTv Gkp Bhs
Why not just answer the question in Mr M's 10.39 posting? Where do you think the money will come from?
Indeed which begs the question who are these people ? Clearly not genuine investors because any half serious investor would want to look at that Annual Report, discuss the income vs outgoings and the placings. Another 10 million were sold today at 0.028p. Yesterday a 25 million and a 32.5m both @ 0.028p . These sustained sells have been as low as 0.026p. Who is exiting and why? What do they know? They must surely believe bad news is coming.
Revenue $841000 Cost of sales $961000 loss of $120000 So the revenue did not cover anything unfortunately this did not stop the board increasing salaries though. This board is usually full of opinions until finance is mentioned that is. Will not get an answer.
Cut rates to quarter percent, won't do anything, they need to cut tax if they want a spending boom.
https://business-humanrights.org/en/mexico-sets-biggest-remediation-goal
Do we know how much Pemex does or intends to spend on waste management and remediation?
bigtimber - great succinct post - my thoughts aswell.....definately a priority to focus on the remediation - the rumoured new CEO is (rather bigger than the local skip man some think I might add) will be all over it, so many different angles, US>MX....as you say a clear direction is emerging, and yes Mayan Group fits the bill very nicely : ) Catch you later, guess what, 2 days no rain means that grass cutting catch up awaits, lol
Still not answering the question drillingcrew. Annual Report stated Revenue - $841,000 vs Other Admin Expenses - $4.3m Key Management Remunerations - $808,000 So far this year NCT has dropped 2 awful placings at significant discount to the prevailing SP which have imo killed the SP, killed sentiment and killed volume. Those 2 placings raised a total of £950,000 ($1.26m) The Revenue figure of $841,000 barely covers the Key Management Remunerations of $808,000 So where are the remaining $4 million going to come from to cover the Admin Expenses? Be honest
.....don't expect a reply he has you on filter from memory - he didn't say he asked the question of the company, but regardless you choose to think that, there are plenty sources out there to work out why gas is becoming profitable business for NCT and others operating in the area. Did you not notice that the company has said precisely that? Would they be exploiting gas to make a loss, rather naive and as usual negative comment. As for the infrastructure costs, NCT will have known about these well before their decision to go for gas. We don't know who's paying but we know NCT hold the trump card to allow others to benefit. And by the way the Chairman talks about near term revenue......but you say long time off? Think the Chairman might know better than you.... "Northcote Chairman Ross Warner said, “We are pleased to secure a contract with Enerfin allowing us to sell natural gas from the Shoats Creek Field. As the LM #14 demonstrates, there are multiple existing well bores with tremendous potential for low cost near term revenue generation that could not be previously exploited without having the ability to monetise natural gas. With natural gas prices in the US having increased by over 30% during the last few months to $2.75 per thousand cubic feet, the revenue potential from natural gas is well worth exploiting in addition to oil.”"
getting more and more desperate....must be time to "fill yer boots".....DYOR
drillingcrew - "when the letter of intent is converted to 'the real deal' I would suggest that would answer Tragic's laborious question "where's the money coming from?". It is coming in the form of a conventional business banking facility" This is a rather silly statement sir if I may say so. It will be quite some time before they get into meaty negotiations and finally strike a deal (which isn't guaranteed BTW). It is also subject to "the completion and full commissioning of the Facility and all appropriate permits being in place" as per the RNS. Once again this is all future "jam tomorrow". I will ask once again. Where is the money going to come from to pay the bills TODAY and to fund the SCDI work to install the gas lines ($450,000) ?
I note that Orslega continues to flaunt the LSE rules by stating things he has allegedly heard or been told but which have not been formally announced via RNS. e.g. 06:40 post claiming he has details of the gas model which must therefore include all costs, none of which have been RNSd. Such posts should be removed.
http://www.elindependiente.mx/noticias/?idNota=57641 (Abraham Achar is a bit concerned that Juan Osman might pass the microphone to him.....where's Randy when you need him most, lol)
Local press a year ago before the plant was put on hold........what about that soil remediation contract in the last para ref Maipas? 50 full time staff, 24/7 plant.... "The first phase of the project includes a plant of heavy drilling fluids, invert emulsion mud and lighter fluids plant equipment repair Ecological GAIA companies and Northcote built in Tabasco an operational basis to provide services in the oil industry Off shore - On shore and soil remediation, with an initial investment of four million dollars. The director of GAIA Organic, Juan Osman Silveira, said that the next four months will build a plant in Comalcalco, that will be your base of operations of services relating to drilling, in stages from prospecting exploration, drilling and production. According to a statement issued by the government of the state, Osman Silveira estimated initially generate 50 new direct jobs and 250 indirect, where labor and suppliers of Tabasco will be preferred. He noted that the first phase of the project includes a plant of heavy drilling fluids, invert emulsion mud and lighter fluids plant equipment repair. In addition, work prospected cober services, such as fishing line services and tools for workover processes. They also raise install a waste treatment plant drilling report, contaminated soil, tank bottoms, a treatment plant of congenital water, fracture, water treatment and reuse. Osman Silveira explained that the concept handling is ecological, consisting generate the least amount of waste, to not cause an adverse impact on communities. He noted that through its partner in Tabasco, the company Maipas Industrial Services, a contract made soil remediation and attention to contingencies, which include local suppliers of machinery, spare parts and other equipment and tools." Caption: New oil investments in Tabasco. +++++++++++ https://translate.google.co.uk/translate?hl=en&sl=es&u=http://www.poderycritica.com/construyen-base-operativa-en-via-a-comalcalco/&prev=search
Also when the letter of intent is converted to 'the real deal' I would suggest that would answer Tragic's laborious question " where's the money coming from" It is coming in the form of a conventional business banking facility as I am sure their new business partner Pemex would insist!
Indeed. bigtimber made some very good points yesterday about why PEMEX want to do business with the Mayan JV; not least it is the first eco plant of it's kind meeting the new standard; no doubt Pemex also want to be seen doing the "right thing" now that foreign investors are allowed into MX Energy; as he said yesterdays news is just the start - a ripple - the Mayan plant will be settling the standard the government have stipulated - PEMEX are the first, others will follow imo Agree, PEMEX by itself will more than be able to utilise the entire plant capacity - expansion plans will not be far away as the energy sector gets going imo
How do you know the plant is full to capacity, the letter did not include any volumes?
As I said yesterday if the Pemex deal is secured MDF would be full to capacity with Pemex work and would probably look to build another specialised plant to handle non governmental business. Am sure Abraham has pointed that out to the board. Rapid expansion........