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Helpful/Stuy- today is a biggy but I am also expecting something much bigger. As I have said many times imo MX oil services related, US >MX> It's getting very interesting how news is coming out but not from the CEO..........I would be guessing but I suspect the new CEO might be wanting to save the best until he gets the official handover..."I'm the CEO and what do you think of this deal?!"...that's the way I would want to start my new role if it were me!
If the deal is crystallised with Pemex MDF mark 2 would have to built pdq.
BB - dont encourage!!
I suppose if Pemex have signed it means other operators can knowing it will be cool with the MX regulators. Good marketing.
Lets see if this stimulates some interest after a rather boring period.
Comments please Mr magic and labratt ?????
Agree, big, but not the 'prize' ;-))
Maybe Northgate really will be a billion dollar company one day, like Randy said, due to the once in a lifetime opportunity in Mexico.
Oil & gas only. Coming together. Not the big RNS I was expecting. I think there is more to come.
RC always said that RP was essential in opening up MX opportunities - first plant inaugural ceremony we saw attracted many government officials as well as Pemex. Pemex want to be the first to be associated with it. How many companies with a £3M market cap have signed with the likes of Pemex? Excellent news. Do MXO get a chance to look in under the reciprocal participation rights? - could be that agreement related to oil E & P deals only, that would make sense
Thanks, I wonder if Pemex will prebook space, maybe even pre pay on first orders etc...
845 tons pd. 65 for o/h. Margin on remediation 85%. $60 a ton. About $40k per day per tax. Call it $25k per day post tax. With drilling muds and aggregate sales margin is 100℅ plus. If they can recycle water, a number.
Looks better for the bidding round, seamless operating environment.
I picked up on those comments: looks to me that politically they want this plant to be a success asap. Working at full capacity it is worth a lot of money.
Start with the smaller players first : ) PEMEX is the Mexican state-owned petroleum company, which was created in 1938 following the nationalisation of all private, foreign, and domestic companies. PEMEX is ranked 98 in the Global Fortune 500 of companies, generating over US$70 billion in revenue and with some US$102.83 billion in assets in 2014
The Facility is strategically and centrally located among existing onshore oil and gas fields in the state of Tabasco. The Facility has excellent access to infrastructure including two key highways and a major port which supports all offshore oil and gas activity in the southern portion of the Gulf of Mexico. In addition, there is substantial refining and industrial activity nearby which has the potential to diversify the Facility’s revenue streams.
" The Facility when commissioned will be the first investment by a foreign company in Tabasco to come on line following Mexico’s energy reform."
Nice. Lots of Jam
Built a weigh bridge to measure magics bs. That's gotta be worth 0 pence per ton.
Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas 3 August 2016 Northcote Energy Limited (‘Northcote’ or ‘the Company’) Letter of Intent Signed with PEMEX- Mexican National Oil Company Northcote Energy Limited is pleased to announce its 51% owned subsidiary Mayan Drilling Fluids SAPI de CV (‘MDF’), has signed a Letter of Intent (‘LOI’) with PEMEX, Mexico’s national oil company, to provide a range of waste remediation services, including the recycling of oil cuttings generated by activity on oil fields operated by PEMEX at MDF’s facility in Comalcalco, Mexico (‘the Facility’). The LOI is in line with Northcote’s strategy to capitalise on the deregulation of Mexico’s oil and gas industry to build a Mexican focused energy services and development company. MDF is a joint venture company between Northcote and its local Mexican partner Gaia Ecologica S.A. DE C.V. The LOI sets out the basis under which MDF will provide PEMEX with the following services: Remediate and restore dams, grounds and polluted water bodies which have been contaminated by oil related activities, andManage urban solid waste and hazardous residuals generated by the active installations on oil fields belonging to PEMEX. Progression from LOI to a legally binding contract is subject to the completion and full commissioning of the Facility and all appropriate permits being in place. A water handling and treatment permit (a key requirement for the commissioning of the Facility) was obtained in February 2016 from CONAGUA (the Mexican National Commission of Water). It is intended that once the Facility is fully commissioned it will operate continuously, with a processing capacity of up to 845 tonnes per day. On the basis of the Company’s knowledge of similar plants in South Texas, it believes that the Facility will have the potential to generate significant revenue. For the time being the Comalcalco facility is generating some contribution towards its costs, by offering public scale (weight measurement) services to local trucking companies. Northcote Chairman Ross Warner said, “We have always said that the opening up of Mexico’s oil and gas sector represents a once in a generation opportunity to companies operating in that sector. Today’s LOI with PEMEX demonstrates that Northcote is becoming increasingly well positioned to take advantage of some of those potential opportunities. Once our Facility is fully operational we believe it will contribute profits and revenue streams, to complement the Company’s existing business which is building up our production base at the Shoats Creek field in Louisiana. More fundamentally, if successful, we believe it will provide us with an excellent reference point from which to iden
National oil co to provide remediation services... Winner winner chicken dinner...amigo
Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas 3 August 2016 Northcote Energy Limited (‘Northcote’ or ‘the Company’) Letter of Intent Signed with PEMEX- Mexican National Oil Company Northcote Energy Limited is pleased to announce its 51% owned subsidiary Mayan Drilling Fluids SAPI de CV (‘MDF’), has signed a Letter of Intent (‘LOI’) with PEMEX, Mexico’s national oil company, to provide a range of waste remediation services, including the recycling of oil cuttings generated by activity on oil fields operated by PEMEX at MDF’s facility in Comalcalco, Mexico (‘the Facility’). The LOI is in line with Northcote’s strategy to capitalise on the deregulation of Mexico’s oil and gas industry to build a Mexican focused energy services and development company. MDF is a joint venture company between Northcote and its local Mexican partner Gaia Ecologica S.A. DE C.V. The LOI sets out the basis under which MDF will provide PEMEX with the following services: Remediate and restore dams, grounds and polluted water bodies which have been contaminated by oil related activities, andManage urban solid waste and hazardous residuals generated by the active installations on oil fields belonging to PEMEX. Progression from LOI to a legally binding contract is subject to the completion and full commissioning of the Facility and all appropriate permits being in place. A water handling and treatment permit (a key requirement for the commissioning of the Facility) was obtained in February 2016 from CONAGUA (the Mexican National Commission of Water). It is intended that once the Facility is fully commissioned it will operate continuously, with a processing capacity of up to 845 tonnes per day. On the basis of the Company’s knowledge of similar plants in South Texas, it believes that the Facility will have the potential to generate significant revenue. For the time being the Comalcalco facility is generating some contribution towards its costs, by offering public scale (weight measurement) services to local trucking companies. Northcote Chairman Ross Warner said, “We have always said that the opening up of Mexico’s oil and gas sector represents a once in a generation opportunity to companies operating in that sector. Today’s LOI with PEMEX demonstrates that Northcote is becoming increasingly well positioned to take advantage of some of those potential opportunities. Once our Facility is fully operational we believe it will contribute profits and revenue streams, to complement the Company’s existing business which is building up our production base at the Shoats Creek field in Louisiana. More fundamentally, if successful, we believe it will provide us with an excellent reference point from which to iden
ok? I think so.
Yep I'm certain it is.
loi with Pemex..rns.