NTOG - currently have 11million, looking to buy more @0.2p if it makes it there. SOU - Looking to pick up anything below 8p, got a feeling permit award delays will drag SP down some more. RRL - 0.3p/0.4p is my buy in target now. LGO - 2.85p buy in target. BP - £4.00 below I will b purchasing heavy.
I think many will agree now that the placing by BODS at 0.30p was a good move given the current market turmoil. There are many similar companies like NTOG but they don't have cash! NTOG has around £1.75 million cash, giving it a good financial footing and a strong balance sheet. Imagine trying to raise this amount in current market? What would the placing price be? The cash should see NTOG through the current negative market and keeps the company away from vultures. Good luck all
"The Willson 3-8-5H well (CT-17) has been completed and is now producing. The most recent ten days of production at CT-17 averaged 440 barrels of oil equivalent per day (BOEPD). The well was drilled to a True Vertical Depth (TVD) of approximately 6,500 feet and a Total Measure Depth (TMD) of 11,770 with a 4,200 foot lateral into the Hunton formation. The production rates exceeded management's expectations. Nostra Terra owns a 2.92% Working Interest ("WI") in the well, which is operated by Stephens Production Company. "
Unfortunately it will be lost in the world market mayhem that is current smashing us all at the moment. Just got to dig in for the long haul, its just timing as always when NTOG has great news, there is carnage in the market place. On good news we nearly always finish RED that is the way the NTOG cookie crumbles. But i honestly think the tide will turn for us in the near future it has to our turn soon. I hope it does hurry up as i need some of this cash for a house deposit in the next 12 months.
In addition to this, the High Plains Prospect is moving forward. The planned well, where we also have a 20% WI, is permitted and the rig is being secured. As we continue to grow our portfolio, these larger WIs in wells could have a substantial impact on our future production levels and our cash flow."
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