to be honest guys i was just pleased i got a response after hearing nothing thought he could have done runner! not that he could run off with anything.. I'm as ****ed as anyone on here before consolidating i had 13m shares at an average of .36 money i should not have invested but i had faith and two years ago i had my finger on the sell button but held off thinking we would go on building.. now my investment is worth around 5% of what i put in i just want something to happen even if its a double of where we are now so i can recoup a bit i would be happy at the moment
I appreciate Chr1s for taking time to contact Matt to find out what's happening with NTOG. But the mail has few points to comfort Matt's lack of delivery hence he jumped to respond. Good he did.
Spoton Analysis by Blue Ocean, Matt has fooled every investor for years putting the blame on someone, oil price or industry. Thank God he did not used BREXIT for fall of SP in the recent months. His lack of due deligence has costed a lot to NTOG Investors, he knows he can't deliver the promises he made but still gangs on, shameful acts. Deliver or Quit. Accepting the incompetentance is a great show of human being and this person does not care about shareholders. He gets paid every month but what did he do last few months, brought any value to NTOG. If so where is it???
*** ML: “I'm glad you recognize the fundamental change in the industry.”
SH: Let’s not ignore the fact that of the 78 E&P O&G AIM companies (i.e. excluding those which suspended or started trading on AIM) between Jan-16 and Sep-16, NTOG ranks 70th (i.e. bottom 10%) in terms of market cap performance. NTOG has lost nearly 50% of its market cap in that period.
70% of E&P companies on AIM showed positive growth over that period. When we average the winners and losers the average market grew by more than 50%.
It is true that oil price has dropped, but the industry is adapting and starting to perform. Using oil price decline as a reason for a poor (value erosive) performance is an excuse. Simply a fumbled attempt to misdirect attention from the responsibility ML has in failing to add value.
*** ML: “Another large factor is simply that investors are not in o&g in the moment like they used to be.”
SH: Good companies with strong management teams manage to raise finance – debt or equity – to deliver the growth and prospects promised. Failing to find that funding is not the fault of the investors ‘out there’ it is a failure by management to establish credibility and a failure to find the right assets on which to build value.
*** ML: “We got approved for the specific transaction but the market changed once we were closer to closing.”
SH: Correct, the market did change...but not for the worse, for the better...again let’s look at the facts: between the date of announcing the deal (22-Feb-16) and the initial date of expected completion (31-Mar-16) oil price increased by 18% (WTI crude from $31.37 spot to $36.94 spot). [source: eia website, https://www.eia.gov/dnav/pet/pet_pri_spt_s1_d.htm]. Why announce a deal when you don’t have certainty on how to fund it? And even if the funding was premised on oil price fundamentals then they improved...so Matt's message again doesn't stack up.
*** ML: “In coming weeks and months as we execute on it we'll also communicate to the market why we're doing what we're doing.”
SH: Matt’s tweet of 24-May-16: “@steads2 Updates on both #PRS and #NTOG coming, including forward looking interviews for more clarification”.
Hi Matt, It's been a while now since any communication on Ntog and you appear to have left twitter for what i can imagine are obvious reasons! I am heavily invested at a pretty high price in comparison to today's price and i understand that all fundamentals in the Oil market have changed in the last 2 years. There is a lot of discontent with shareholders and not helped with the collapse of the Permian deal. An update of some sort is needed as at the moment we are sliding down the slippery slope to being worth nothing and all faith is disappearing in your leadership of the company. We as share holders need to know what the plan is and when you will update us on how you propose to get us out of this hole... Best Chris
Reply: Hello Chris, Thank you for the email. While we haven't had a lot of news we are still busy working. I'm glad you recognize the fundamental change in the industry. Some of the bigger companies (multi-billion $ market cap) all the way down to the micros are ending up bankrupt. That has the largest effect on companies. Another large factor is simply that investors are not in o&g in the moment like they used to be. An extremely tough environment to deal with now. The Permian deal was a risk. We knew we didn't want to close it with 100% equity. There was a specific debt market we saw that was a fit. We got approved for the specific transaction but the market changed once we were closer to closing. As I said, we're busy working. We have a plan. In coming weeks and months as we execute on it we'll also communicate to the market why we're doing what we're doing. Best, -ML
I feel for you, you are not alone. Similarly I lost a signficant amount of money, money which I can't help but think could have benefited my family. Aim is a gamble but its even worse when the CEO of the company you invested in loans his shares to be shorted for his own gain. If it is true and the FCA is investigating I hope he gets whats coming to him and in a ideal world we would all get some compensation.
@scarethekids 'Nostra Change needed' is right - ML should be worried, his position no longer tenable Shareholder group can be contacted: firstname.lastname@example.org EGM to be requisitioned with resolutions to change out leadership
Blue Ocean. There has to be a way that share holders can demand change? The cash position is dreadful. They'll have to raise more money to stay afloat. That means placing or possibly a series of small placing's. Discounted ones too boot.
Can only see more dilution and grief here.
Matt should do the honourable and walk. Terrible performance. It's the shareholders who've been shafted time & time again. Lot of good people have been lead a merry dance by Lofgran.
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