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'Post-RNS exclusive interview with Independent Oil & Gas (IOG)' Watch here

'Post-RNS exclusive interview with Independent Oil & Gas (IOG)'


Nostra Terra Share Chat (NTOG)



Share Price: 1.55Bid: 1.45Ask: 1.65Change: 0.00 (0.00%)No Movement on Nostra Terra
Spread: 0.20Spread as %: 13.79%Open: 1.55High: 1.55Low: 1.55Yesterday’s Close: 1.55


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Helpful
Posts: 4,632
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:1.55
RE: Are We using Octopus drills yet
Thu 11:07
NTOG has only been doing workovers. It has some new drill targets but they are a bit off yet. NTOG needs to get the workovers done, max its cashflow and wait for the oil price to hit $60. When oil is up around there, you might see some new drill activity.

You would only use Octopus drilling on a conventional reservoir where you needed multiple wells to exploit it properly. A conventional reservoir has a cap that has trapped the oil in the place, the wells go through it.

In shale wells there is no cap, the oil and gas is trapped in the shale, which is why the need to frack it. So the shales tend to be quite extensive and not just under a localised cap. So Octopus drills work well in that environment. Octopus drilling will likely be used in the Weald as well.

Unfortunately, I doubt that the targets NTOG has are big enough to require Octopus drilling. On a large field the wells are typically on a forty acre spacing and then infill drilling on a 10 spacing. If NTOG had a target that was continuous over hundreds of acres rather than locally trapped they might use Octopus.

DYOR
 
maytheforcework
Posts: 3,926
Off Topic
Opinion:No Opinion
Price:1.55
Are We using Octopus drills yet
Thu 09:37
Seems to be the latest method with amazing results. Multi wells from 1 pad.
Helpful
Posts: 4,632
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:1.55
RE: ntog
Thu 08:58
Yep. I would agree with that. There also a promised workover on some the Permian assets we have heard about. We also want to hear about the Sheriff's auction on Pine Mills.

We are also promised other similar deals to Pine Mills.

Can we sell out of MAGP and bank a decent profit?

Dyor
okenia
Posts: 8,769
Off Topic
Opinion:No Opinion
Price:1.55
RE: ntog
Wed 21:06
Production-wise, Pine Mills started at about 90bopd and (I think) has increased to 118bopd following some optimisation. The longer-term targets is 130bopd and beyond. I'd like to see that production trajectory continue upwards since the last operational update.

They're also looking to increased margin at PM by reducing costs, lifting costs were $17 a barrel last time so again some incremental progress there would be nice to see.

Elsewhere, the Permian is a tremendous optionality play. Because it's held by production (even a token amount does that) ntog get to keep the licences - and the 20 new drill locations - indefinitely. They can choose to bring into production when they fancy. This is a "towel on the sun lounger" trick. The current (and I suspect initial) Permian assets have a NPV at current oil prices of about $1m and were picked up for a tiny fraction of that. If oil continues to trend sideways in price as it does, these Permian assets will be one of the few ways to make money in the oil space.

Egypt, it's been radio dark w.r.t. Production there for what, 18 months now? There has clearly been a catastrophic relationship collapse (notably by IRG) but now they've left NTOG seem to be taking steps to heal things. I guess most of us have written EG off and to zero, but let's not forget that you don't have go back more than a couple of years to see EG was producing the bulk of the revenue for NTOG and very material rates of production / cashflow. If that particular asset can once again start sending cash NTOG-wards, it has the potential to be very material. However, we have so little insight into what is currently happening there I'm taking a cautious view and then I'll be pleasantly surprised. One good point of course is the re-negotiation of the TransGlobe payment which was saved NTOG a small fortune and left it with 1,000Mmbl for a cost of about a buck a barrel.

So bottom line - steady incremental improvements in production and cost base at PM. Medium term optionality play at ultra-low-cost Permian assets, currently held at pretty much nil ongoing cost. And the wildcard of Egypt if NTOG can pull that rabbit out of the hat.
Slickharry
Posts: 63
Off Topic
Opinion:No Opinion
Price:1.55
RNS & Twitter
Wed 18:42
Interesting - I look forward to seeing how we progress the next 6 months, certainly seems bullish across all media fronts, let's hope our faith is rewarded.
IreneKrapp
Posts: 213
Off Topic
Opinion:No Opinion
Price:1.55
RE: ntog
Wed 18:05
Helpful, What do you expect Pine Mills production to be. What would be a good result ?
Tony45
Posts: 128
Off Topic
Opinion:No Opinion
Price:1.55
RE: ntog
Wed 17:41
Christ, I see he's sucked you in with his twatter crap, just keeping you all sweet.
# bullshit
Helpful
Posts: 4,632
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:1.55
RNS
Wed 17:04
Interesting!
Helpful
Posts: 4,632
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:1.55
RE: ntog
Wed 15:20
News shortly I think.

Update on Pine Mills production and the seizure.
Update on Egypt; ML has been hinting on Twitter that he is not far off get things sorted with North and the EGPC.

DYOR
Tony45
Posts: 128
Off Topic
Opinion:No Opinion
Price:1.55
ntog
Wed 13:25
8years on, sp rock bottom.
Like watching paint dry




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