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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. Getting the RP going, providing oilfield services and getting hold of some flared gas for GTE deals is probably a better use of their time.
Makes sense, leave the MX opportunities for Northcote : )
Today's board appointment is a hint that they are going to look outside MX for more deals. "....his skills will be particularly helpful in the area of business development and analysis of new opportunities". Lets hope they deliver value for our warrants.
SIAK is or was a producing asset: participation interest in the Production Sharing Contract ("PSC") for the Siak block, which currently produces approximately 1,700 barrels of oil per day ("bopd") from the Central Sumatran Basin, Indonesia. Pertamina Hulu is a wholly owned subsidiary of the Indonesian national oil company, PT Pertamina. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ADL/12636839.html I think it was producing at 3,000 bopd in the recent past. Just reread this: I knew it was a good asset but I had forgotten just how good. Pertamina Hulu is undertaking an extensive production optimisation programme and numerous infill, acceleration, and step-out opportunities have been identified within the three producing fields. In addition, there are further opportunities relating to the reactivation of five shut-in fields, five undeveloped discoveries, infill and step-out drilling, and waterflood programmes. There are also a number of oil exploration prospects identified for further analysis. Three potential gas field developments have the potential to supply the strong local gas market. A number of follow-up exploration prospects have been identified along this same gas fairway The local authority is guaranteed by law a 10% participation. ADL is negotiating on the JV's behalf. A 50% participation split 50/50% would mean that NCT's share would be 3.125% of the gross. DYOR
Just depends on the entry cost; plus, IF there is a change in the NCT board what direction might they be heading? I'll guess and say that a new board (IF that happens) will have other much bigger plans other than the ADL 12.5% participation right with Indonesia. imo But the ADL participation rights are still valuable NCT assets; the opportunity to get into a project like Siak day 1 will be of interest to many, so maybe a new board might just turn that opportunity for cash and sit in for a free ride. Quite possible imo
If ADL come out with news on SIAK, will NCT take its 12.5% participation?
Some very good links, keep them coming!.. The potential for NCT to take advantage is emmense.
"Less imports from Canada and more exports to Mexico mean that�the U.S. will become a net exporter of natural gas this year or next. U.S. piped gas to Mexico has more than tripled since 2010 to about 3 Bcf/day.�By 2019, 15 new pipelines will more than double capacity to Mexico to around 15 Bcf/day.�This is far more than anticipated imports, but extra pipeline access�that would help Mexico meet peak demand. This is important because there�s basically no storage available in Mexico,�lacking�mature fields, aquifers, and saline domes to store natural gas.�Mexico has liquefied gas storage of about 3 days, far lower than�the average storage capacity for OECD countries of nearly 85 days.�" http://www.forbes.com/sites/judeclemente/2016/05/08/the-u-s-natural-gas-export-boom-means-pipelines-and-lng/#190a25187423
yup.
reza1, absolutely NOT! Go and wash your mouth out, lol RRR have simply used some of their placing monies to partake in Shoats Creek. That's where it ends. Andrew Bell is very bad news, I do sympathise with RRR shareholder on that front.
would RRR and NCT be a good merge ?
peterz, I am expecting some serious admin cost savings, been asking questions for a while now......imo
you joke but I have grass cutting here most days at this time of the year.....rotation system, always somewhere needing attention.....I say it keeps me healthy but my wife says "what, sitting on a tractor!" My shed has super fast wi-fi, good for the coffee break and see what else is going on, further a field so to speak... ps am hearing AGM will be happening soon, a few major changes I expect, all for the good of the company and us shareholders...imo
"Expand that to the rest of the board and that would have covered the money raised in the last placing" This is a vital point overlooked/ignored by the rampsters. The company expended $4.3m in "Other Administrative Expenses" in the year to Feb 2016 and total remuration of Key Management was $808k. The placings in March and April raised just short of GBP 1,000,000, and did so by issuing shares at discount to the prevailing SP thereby helping to decimate the SP for existing holders. The situation is imo untennable and I personally think it is somewhat immoral for directors to raise money in this way whilst they are still pulling huge salaries. It shows a blatant disregard for shareholders imo,
P. Joaqu�n Coldwell Verified account  ‏@JoaquinColdwell Puedes seguir en vivo la presentaci�n del documento en la p�gina de la @SENER_mx http://www.gob.mx/sener #GasNatural
Quite honestly we may not be able to change salary packages of board members be we shareholders certainly have a right to have our say. Not looking for prolonged discussion on this side issue but shareholders are important in terms of our investment. "If the backers or big shareholders are happy with the directors salary then why can anyone on here say...to the contrary".
My understanding is that UK Funds generally will not touch any AIM micro stock with a market cap of less than �50M. They have clear mandates for investing, Not long to go then. ha ha Bigtimber - what you grinning about? lol : )
Some people have the ability to form their own opinion. What big shareholders does NCT have? Are they happy? Maybe that is the reason why the funds are avoiding NCT and the list of shareholders consists mainly of nominees accounts.
If the backers or big shareholders are happy with the directors salary then why can anyone on here say...to the contrary. Imo.
Blingy, no need to apologise. Without wanting to appear condescending reading annual reports should be a must for all investors. The audited figures cannot be misrepresented. Despite the falling oil price, NCT increased director pay in 2015 during a period when most in the sector were slashing costs. A clear signal for me as to the motivation of the directors, another AIM company run for hefty salaries. A 50% wage cut for RC would still have resulted in $140k I am sure he could have managed through on that! Expand that to the rest of the board and that would have covered the money raised in the last placing.
LM20 has significance as the test production can be compared to the actual production which is aiming for around 45% of test production using the current figure of 150bpd. Gas production will decline faster than oil production. I am upbeat as for the outlay it is a very good result but much more is needed to balance the current outgoings for wages etc. Uncommitted cash balance(minus ADL, lm21 and lm22 etc) must be getting low and the continuous delays makes raising funds more and more likely imo. This may be a sale of interest to RRR or GCW or another share issue, but the company probably requires �300k for wages to bridge the gap between Shoats Creek new production and the RP coming online. Also potential new ventures in Mexico but best not to drag that up again as already covered!!
I think such information should be clear with no blurring of information. It is important for company to be transparent in such matters.
Thanks lab rat for clarification on randys and other financials for 2015 year end As stated if I'm incorrect on any points I apologise
labratt "Received further replies regarding lm14, would urge others that are interested to contact the company and ask why they are not including these details in the RNS as I have. Due to lse rules cannot post the reply but it is incredibly frustrating when they have clearly had a great result that it is totally underplayed. " Wonder how great that test result turns out to be in production terms? The test result was no doubt a big pointer what the goal is : )