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no one has said it was the best thing since sliced bread - RC has always said (for shareholders who bothered to talk to their CEO) that there will come a point when a company needs new leadership and when that time arrives, he will step down, pass the reigns to someone else who has the skill set to take it to the next level...simple and not unusual strategy and there is nothing secret about his CV (although it has now been removed from a public place, have no idea why) - I sense you display frustration because you don't have all the answers.....hence the flippant skip comment I guess.... Now if you'd asked the right questions at the right time........you might better informed, and that from my experience is the way the world works... Be patient, you've been around for a long time. When you have the full facts then you can be as flippant as you want, lol
A few months ago when I first stated that RC required removing was meet with typical abuse badly researched etc. Now it is the best thing since sliced bread and the greatest CEO is coming in with an impressive secret cv that has only being disclosed to a select few, the businesses that he is currently running whilst respectable are fronts for a continent striding colossus who can hire you a skip as a side line. Questions avoided again.
yes, natural gas futures point to some lucrative jam today for NCT - starting with LM14 about to get hooked up; then other gaseous zones being targeted as we've been told. The model worked on $2 gas (ask the right questions), so $3 means 50% to the top line jam. Not difficult to see why gas is now the priority, even more so as oil prices have slipped. http://seekingalpha.com/article/3993538-natural-gas-rejects-higher-price-first-time
Sorry I have certain people on filter. That Activa Resources report was from June 2016 ie Jam Yesterday. It says at page 14 that the BOEPD figure was 150 for the 100% interest and that the potential was in excess of 1mil BOE. Can't blame that on NCT, Randy or Orslega. Strikes me that whether NCT wants to participate in a drill or not that asset is now worth money.
Yes DD77 - I can confirm I every reason to be optimistic at this juncture.
There's the Jam tomorrow comment coming out again!!!!
http://www.oilandgasinvestor.com/good-old-fashioned-oil-and-gas
Thanks Helpful for steering some of our lazy researchers in a the right direction..... Earache - I think maybe you should prepare an apology re your comment "blatant bulls**t" in your last post as the company will be announcing anytime soon some very proactive updates ........ Guess you are asking the company the wrong questions.............
Looking good on the Natural Gas futures DYOR http://www.cmegroup.com/trading/energy/natural-gas/natural-gas.html
DYOR (Do Your Own Research) http://www.activaresources.com/medien/medienpool/Activa-Resources-AG-Corporate-Presentation-June-2016.pdf Page 14 Working interest: 14.5 - 25 % § Current production per day: 150 BOE* § Potential: > 1 million BOE § Natural gas play – on hold in recent pricing environment § First well (drilled 2008) highly successful at 15,500 ft. and still on production § Potential for 2 further proven locations § Further drilling activity is in planning stage § Acreage is held by production http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/NCT/12068020.html Alta Loma Field currently produces 30.7 BOEPD gross (8.6 BOEPD Net) · Alta Loma is a 444 gross acre unit held by the production from 1 producing well · Acquisition of 37.5% working interest (28.125% net revenue interest) from Springer for the following consideration: o a capital expenditure credit of $50,000; and o contingent consideration of $100,000 payable on the successful drilling of a new well before 17 July 2015 with initial production in excess of 300 BOEPD It seems the 100% BOEPD figure has gone up: is this because of the increased price for gas and the reduced price for oil? Says that they are in the drill planning stage. It seems we would have 42.19 BOEPD net from AL. Our friend Bryon Conley will be all over this. DYOR
will someone change their subject matter. I am fed up with being associated with all this b****cks!!
Avoided all the questions. Have you contacted RC about the increased salaries? What is the largest turnover of the rumoured incoming CEOs current companies? What is his most significant oil experience? Experience running listed companies? A poster that has championed the heavyweight credentials of the rumoured CEO would surely be willing to share these details with the board and provide some meat on the bones.
Orslega - "I have been asking further questions about Shoats Creek after last weeks RNS; I am getting answers but I cannot post them here because of LSE rules" This is a rather meaningless statement TBH. The company can not tell you anything that would be deemed price-sensitive. So anything you have been told is not price sensitive and thus largely immaterial imo.
bigtimber - can you just get on with finishing off those gas tie ins, lol
Wasting your time with Orslega, can't be taken seriously imo. Anyone constantly perpetuating rumours comes across as rather desperate and does the company a disservice imo. As you have noticed he won't tackle the real issues or talk about overheads vs income, admin expenses, salaries and the like. Very strange for any genuine investor.
There has been no breach of any confidentiality; like you I have asked questions and been given answers - even you have said yourself you cannot post those answers on a public board. Likewise. I have been asking further questions about Shoats Creek after last weeks RNS; I am getting answers but I cannot post them here because of LSE rules. But all looking very good : )
Avoided all the questions. Have you contacted RC about the increased salaries? What is the largest turnover of the rumoured incoming CEOs current companies? What is his most significant oil experience? Experience running listed companies? How will I find evidence of the cross border deal if it is not reported anywhere and cover by a confidential agreement, which by the way someone must have breached to inform you, so that does not bode well. RC had connections did not do much for shareholders though did it, ditto AA delivered nothing of note despite all those connections. I am waiting to see what becomes of the remediation plant and the fiscal terms for the operation for this and hopefully a recovery in the oil price which might help me recover some of my losses.
.....grass cutting! Non stop rain, flood alerts more like.....
labratt - if you felt that strongly way at the time, I'm not sure why you still remain invested? Even more so now if you don't like what might be unfolding very soon. Better take your losses, and move on. Am sure Mr M would agree with that but with one further piece of advice he still trying to come to terms with - learn to let go. You still never found out what that cross border gas deal was worth? And his connections? Hang around even you might have to have a re-think, lol
Cost cutting only 18 months to late, what has RC had to say on that as a LTH you have surely expressed your displeasure at the directors salaries? As have said before the cv is hardly inspiring, very limited oil experience with tiny fields and operating small skip hire companies around Texas. What is the largest market cap or turnover of these companies. No experience of running listed companies. All in all the proven capabilities are uninspiring imo.
not sure what you're referring to re good post but I think NCT shareholders will soon see very important changes afoot both in direction and cost structure.....I have no doubt it will be very pleasing for shareholders, imo As for the bin man reference you might be surprised about his proven capabilities.....not long imo for him to respond to that!
Good post, you would expect LTH to be up in arms with a company increasing director salaries in a period where oil prices were tumbling and the companies daily production was decreasing. Directors sucking $800k a year out of the company in salaries does wonders for their bank accounts, but does nothing for shareholders. Not to worry though the bin man is coming in to reduce the wasteful spending.
His CV tells you a lot about the skill set he has and what is going on at Shoats Creek right now: Summary Completions/Workover Consulting – Well Intervention – Well Site Supervision Independent oil & gas professional with over 15 years of production, completion and workover experience with daily operations and cased hole disciplines, as it pertains to safely and efficiently managing the well-site coordination of information, people and budget. Flexible and able to adjust to change in priorities and change in conditions. Professional Experience • Support for drilling operations, supervision of running casing, testing of frac valves, wellhead & surface equipment. Supervision of 2500 stages and drilled out over 800 plugs in Cotton Valley, Woodbine, Rodessa, Tuscaloosa, Hosston, Wilcox, Austin, Glen Rose, Hunton, Nacatoch, Barnett, Eagle Ford, Bossier & Haynesville. • Completion supervision of vertical and horizontal oil and gas wells. Depths to 18,000’. Experience running wire-line for logging & TCP perforating, pump down plug/perforating in horizontal wells, wire-line installation of packers, CIBP’s, running tubing, slick-line, snubbing and CT/coil tubing operations including: fishing, N2 jetting, abrasive cutting & fracturing. https://uk.linkedin.com/in/stephen-brock-259a7193
Stephen Brock has only been at SCDI (SCDI is the operator at Shoats Creek) for a couple of months - looks like in official capacity only since 13th June 2016 but probably around before, maybe as consultant pending results. (Note Eddie being there since end of last year, no co-incidence there imo). http://coraweb.sos.la.gov/commercialsearch/CommercialSearchDetails.aspx?CharterID=462543_HT93 So given the many new SC initiatives we are beginning to hear about, not least the significant gas opportunity I reckon he is the guy behind moving SC high impact/low cost/low risk initiatives. So plenty of action presently at SC - LM14, is just one low cost workover, last week's RNS - what a result indeed, game changer for NCT. "Following the tie-in of the Well, Northcote’s net production at Shoats Creek is expected to increase by 450% to 110 barrels of oil equivalent (calculated on a revenue equivalent barrel basis) from net 20 barrels of oil per day currently. I am expecting to hear about other workovers very soon, they have the data/3D seismic, just a question of prioritising - where next : )
"Lots riding on their ability to deliver something tangible" The SP won't go anywhere imo until the company cuts its costs. Anything tangible delivered by way of cash will just be viewed as going towards admin expenses, salaries and the like. Last year (to Dec 31st 2015) it expended over $5m in remunerations and "Other Administrative Expenses" or about £3.7m. MCAP is currently about £3m. Instead of waiting for some project to deliver value, people should be looking for an announcement of company wide cost cutting measures imo.