new income has started (Mayan) - congrats to the team on bringing online ahead of schedule. And it's just the start - will see new contracts there via Abraham Achar. Circa 1000 bopd with cumulative SC Q4. Rising oil and gas prices. What's not to like ?
He is the President of PP and Shoats Creek Development. Both recent appointments.
A little while back the PP site was open for public consumption and HG cv was posted. Those who saw it - Noli posted the detail at the time before it got pulled showed him as very impressive and successful entrepreneur involved in O&G waste management activity and much more. Fluent in Mexican with extensive contacts.
His cv also told us that he brokered one of the first gas deals between US/MX in the post energy reform era. The detail was kept private but by all accounts it was a mega deal.
Imo he is almost certainly a big part of the NCT jigsaw in MX going forward. Based on extensive research I might add.
See nice monthly admin fee imminent, must be decent revenues to cover that admin overhead : )
Northcote is funding 100% of the up-front expenditures associated with the implementation of Mayan's business plan and will receive (i) a US$15,000 per month administrative fee after the overhead costs of the business have been paid; and, (ii) 85% of distributable cash flow until pay-out plus a 9% internal rate of return has been achieved on the investment, after which profits will be distributed based on the relative ownership. As of June 30, 2016 commercial operations utilizing a portion of the facilities at our remediation plant have been initiated. The revenues generated will be reinvested into future expansion of the remediation plant,
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