i have to agree...no news here and it will slowly drift..then we might (might) get a decent rns...but we should of heard about one of the wells by now..and this sort of delay peeps go elsewhere and the trust element goes..ML has funds and isnt doing anything with them. Come August it (bank) will raise again...but what is he doing..SP is still in the late 20s It needs a jolt...a super RNS but i cant see one coming for some time!
Well said Billy and your 09:49...Tut, tut...shame on you UK...a couple of weeks without an RNS and you start spouting rubbish like that...Matt tweeting "wells are flowing back" and you make out like it will be months before we hear anything...10th June Matt tweeted that wells were flowing back and 1 week later on 17th June we got the flows! NTOG can't even cover their admin fees??? What a joker!!! Don't feed his short position!!!
Any new developments normally in Q4 as most oilies ramp up in Q4 reasons I have mention in the past. As for new deals yes maybe. As having the funding we have via T Bank opens doors and we have cash to put on the table simple.
CEO will make anything up or say anything for sake of the market and a few bb posters.
I agree, but I think he can't do anything to revive the SP, hence why a short position here makes sense.
The wells take 18+ months to payback, and after that time they are producing significantly less than they started. With the production based debt agreement in place, the interest accrued will gobble up that production after the principle is repayed.
Admin costs are significantly more than Revenue, therefore NTOG is losing money on a regular basis. Everyday that passes reduces the size of the financial cannonball that we can shoot (if there is one in the first place?!).
Pretty depressed here... I am expecting a MAGP type SP collapse soon :(
I don't understand why ML cant give some sort of update. Whilst he mentions the long suffering shareholders and his disappointment in the SP etc he doesn't seem to want to do much to revive it..... Beginning to think it is only a game for him. I truly hope not, I have a large holding here and had thought we could be at 0.4 here by now. But as always no doubt when we get a decent bit of news the SP will rise in the first couple of hours trading and then finish the day flat or lower. NEED some serious news to help this at the moment.
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