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and you call that a ramp??? (back to ramping school for you there buddy!) A rerate would be very well received by all I think. Sooner the better!
Well I hope we are both right: this is worth a lot money to me if it they come out with the right news and it is well received.
Impatient? Yup.. We've had months in the wilderness, just want the ref to blow the whistle and enjoy.. at least a few months whilst we rerate, or as I would like to call it, a price correction :-)
I have seen the dots (they have been repeated enough times) and not really that impressed tbh. Not exactly industry heavyweights and as SCDI has demonstrated they do not appear to be any better than RC at hitting deadlines, lm21 over two months past the announced timetable. Probably going to result in a hefty severance package for RC and bloated salaries for the incoming directors followed by a fund raise to implement the new direction.
Getting impatient? It has been a bit of wait. I hope they come out with a proper update that does answer questions. If the management team is being changed one issue will be the NOMAD. Unless they are happy with it there will be a problem. So it could that any announcement is delayed by the NOMAD doing its due diligence. DYOR
The dots have been joined up, but ppl still don't get it ;-) IMO Eddie will be taking the helm very soon, then there's other name strongly connected, Stephen Brock and now Jeff Welch, 'Mr Gas'! Who else?? Nevertheless, it all comes down to the biz.. Northcote (For now) is going news driven, therefor we need clarification and on many fronts,. The BOD, LM14, SC, the RP and strong rumour of Mexico JV aka 'The Prize' ;-)) (yup, that's a wink!)..
"A connection is made when two people are officers, directors, or otherwise associated with the same company. Heriberto has two known connections ." https://www.corporationwiki.com/Texas/Dallas/heriberto-gonzalez/38685394.aspx So although Cantera Investors LLC is no longer active it demonstrates RC and Eddie go back along way. Interesting RC will know his capability (assuming he is being lined up for Northcote). The other interesting observation is that Stephen D Keller was also an officer of Cantera at the same time; seem to recall that name in context of Prosper Petro - the US Service station project speculated a little while ago...'It's Not Just a Station, It's A Destination'...Keller was the real estate guy from memory. Isn't Eddie also now the President of Prosper Petro..... Pg 18 of the last accounts states interest held by Northcote Energy Limited in PP entities below as 100%. Prosper Petro, LLC Prosper Station 1, JV LLC All about getting the right team in the right place to take NCT to the next level, imo.
yes gas seems to be his main speciality: "Activity in both international and domestic energy markets, with Atlantic Basin LNG and Mexico pipeline / utility experience." Who else then has US > MX gas featured on his CV.....that'll be Eddie : )
This is him https://www.linkedin.com/in/jeff-welch-1a460420 Interesting, looks like he has a background in gas trading.
It's Bank Holiday on Monday so it won't be then.It would be good to get confirmation of "changes" on Tuesday!! Gas and RP could lead to healthy cash flow. (At last)
These are the kind of details they need to start including. Have they installed gas processing equipment either rented or bought or are they receiving a discount to the rate for unprocessed gas. Far to much guess work required for simple things that should be clarified in the relevant RNS.
....no specific detail were given but 4 months ago in 24th March RNS "Negotiation of a natural gas contract and installation of necessary equipment to permit sales of natural gas" Surely they cannot negotiate a sales contract without any gas! The last RNS 2 weeks ago points to the necessary infrastructure in place to deal with whatever route they have chosen to sell the gas, imo
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_ORGAD?p_orgid=S3000 HERIBERTO GONZALES PRESIDENT Wonder what the chances of the next SC update coming from Eddie? I would say pretty high. See Jeff Welch is the COO of SCDI; this link also shows his main company under full profile as Northcote Energy Limited; http://www.oilvoice.com/member/Jeff-Welch/72f9f5c8e3484c8.aspx Plenty of discussion before but it doesn't take too much digging around to see what's taking shape. Not just at SC, imo
Is the infrastructure in place to convert the gas into the required quality to inject into the pipeline. Do not recall any mention of this or is the gas injected in its natural state and processed elsewhere?
2 weeks on since last SC update Northcote Chairman Ross Warner said, We are pleased that our plans for Shoats Creek appear to be coming to fruition.� Getting LM#14 and our other Shoats Creek wells producing and tied in for gas sales is our top near term priority, and once we have achieved this we believe that we will be in a position to consider other bores with re-entry potential in gassier pay zones at Shoats Creek, with a potential to generate additional low risk, low cost revenue to Northcote. Natural Gas Sales The project management team is undertaking discussions to tie-in production of natural gas utilizing one of two existing tie-in points located at Shoats Creek Field.� Once gas sales can be undertaken, additional exploitation opportunities of well bores with re-entry potential in gassier pay zones holds substantial potential to generate additional low risk, low cost revenue at Shoats Creek Field.
yes not that long ago natural gas prices were in the low 2's.....now futures are pointing to late 2's/3's; that means circa 40% increase to the top line on any gas sales. That increase will be significant to Northcote as they are about to turn the tap on. The beauty about the Shoats Creek gas opportunity is that it is a very low cost model in terms of getting it out; LM14 (and smaller wells) are workovers - LM14 tests results are an indicator of some serious revenue to come. As the RNS stated once they get LM14 tied in they are going after more gaseous targets already identified. Plus the infrastructure is all in place. http://www.barchart.com/commodityfutures/Natural_Gas_Futures/NG?search=NG*
Shouldn't you be on the RRR site?
"I am not sure that bidding in MX is such a good idea. The last round was a bit of a dog's dinner and a bit cut throat" Indeed. For a company that posted an $6m loss for the year up to Feb 2016, which included $4.3m expended on "Other Administratve Expenses" and in which the key management took $808,000 in remuneration there should be one strategy and only one strategy now. They should be drastically, radically cutting out every cost possible, foregoing all director salaries completely until such time as they can make the company turn a profit, and put any and every last dollar they have into simple revenue generating ventures that have low cost and decent return on investment. There is no room now for luxuries, no room for huge speculative ventures. The expenses and salaries simply can not be justified imo until the company is able to support itself. RRR got itself into the same position and has undertaken such a strategy but it is likely too little too late in their case. There should abolsutely be an embargo on further share issues to raise funds while ever the directors continue to pull remuneration. First, establish revenue streams that are sufficient to cover the costs, then think about salaries and larger ventures. All imvho.
Oml113 is a great asset. CPR should be out soon.
Stefan gave an interview a few weeks back and was asked about JVs with Pemex and he said they were no longer looking to do them. I took it that the potential JVs were using GE's BVR technology and now that they don't lurve each other any more, the opportunity had gone.
helpful "I am not sure that bidding in MX is such a good idea." Agreed. It is not a good idea - I was thinking about other MX business streams, non bidding : )
I know nothing about what is going on at ADL other than what is in the public domain. I have never spoken to anyone involved there except for Jorgensen when he was with NCT. It just seems about the right time. ADL should be updating us on TOE2 shortly and once that is boxed off it will be time to do the next deal. ADL has a big team in place, a lot bigger than the one needed for TOE2. The announcement on SIAK came out in December, so it is now seven months. Five months for negotiations and two months for legals plus the timing from the relisting seems about right. The big deal with SIAK is the next door field operated by Chevron: the PSC is up for renewal soon. I think the Indonesians will not renew and do a similar deal to the SIAK deal. IMHO DYOR
I'll guess and say that a new board (IF that happens) - is this a smile comment where we ask no questions and get told no lies?? :-)
PS if you look at the deal that PXOG has got in Poland without having to go through a bidding process or the deals that ADL has got in Indonesia (I am including SIAK in that) again without going through a bidding process why should we take the risk of going through a bidding process again? We could spend a lot of time and effort on it along with capital only to get nothing or poor deal. DYOR