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yes, AB = RC mouth piece, lol That would explain why the expected oil flows came in lower than that actuals based on initial flow tests. He said he expects the Shoats Creek cheques to get bigger now that have optimised the pump issues. Update soon on that and maybe another low cost workover....... AB mentioned the operator new to the SC business (not sure about that) but also getting the right operational personnel in place...there lies the clue imo; my guess is that the main guy making all the difference right now at Shoats Creek is Stephen Brock - very recently been appointed as the Vice President of SCDI, the SC operator....his CV I posted up shows workovers are his speciality, makes perfect sense, .mo
$55 would be nice but more bothered about the gas price: $3+ would be fantastic.
....decent rally coming? "Oil price The oil price had as many friends as it needed yesterday but still ended down on the day. A strong start, a weak dollar, some short covering and after hours, a better than expected stock draw from the API, in crude 1.3m barrels, in gasoline 450/-. This morning the price has rallied about 50 cents, I have a feeling and I know it is shared by a number of technical analysts who read the blog, that we might be in for a fairly decent rally from around here."
AB saying more than he should again? Seems to say that they have been playing around with different pump set ups at LM20 and that they are now happy: expects revenue from LM20 to increase.
RNS today: "The LOI sets out the basis under which MDF will provide PEMEX with the following services: Remediate and restore dams, grounds and polluted water bodies which have been contaminated by oil related activities, and Manage urban solid waste and hazardous residuals generated by the active installations on oil fields belonging to PEMEX." Todays news fits in well with the link bigt just posted re CONAGUA 2016 projects, re dam works etc Note these are 2016 projects : )
it's interesting that to date Pemex are not yet on the Gaia client list; but there are some big names e.g. Schlumberger Halliburton Baker Hughes http://www.ecologica.mx/en/clients/
very interesting comment re Geo Estratos BT - that was MXO Partner before they fell out...full circle then....(RC did put MXO together with Geo, so maybe not so surprising) Gaia Ecologica S.A. DE C.V. is of course our local MX JV partner at Mayan, they must be making an impression with PEMEX; they certainly have the sector experience looking at their website: http://www.ecologica.mx/en/about-us/ Starting to understand now why many think NCT will be changing it's name - something with a Mexican/Mayan flavour perhaps would make sense? That's where the big bucks are : )
Figures from Annual Report Revenue - $841,000 vs Other Administrative Expenses - $4,3m Key Management Remunerations - $808,000 How is that gap going to be filled this year? Anyone? Jam tomorrow does not pay today's bills sadly.
https://uniteoffshore2015.org/2016/08/02/offshore-workers-strike-talks-end-without-agreement/
50 million ! lols. So a full half a percent (0.5%) of the total 10 billion shares in issue ! £15,000's worth ! Markets not impressed with today's news then
Almost 50 million share traded on isdx this morning.
peckham, you got it, lol
Thank you.. Near term jam sounds like a technical term .....
bigtimber, good info; since you mention CONAGUA, worth noting: 20/4/2016 RNS :Key water handling and treatment permit obtained in February 2016 by the CONAGUA (National Commission of Water) necessary for commissioning the plant will also allow MDF to move forward with service contracts previously announced in 2015." So that work was put on hold pending necessary licences, etc - those contracts above were stated as being worth circa $900K; NCT said 3 months ago the contracts are still live and they must be priority now since gaining the licences. I also do not believe that contract was with Pemex, as we would have heard at the time. Note they stated then that it was a contract not LOI. Near term jam then.
"I'm not down playing the opportunity at all" lol.
Honest view, it's future potential not actual, so at this stage, just more "jam tomorrow". A Letter Of Intent is not a binding contract, it's not a contract at all, it just sets out the groundwork for further negotiations. So, at face value, yes, it has the potential for those negotiations to take place and for there ultimately to be a concrete deal/contract. That would be great news ! What the terms of such a contract would be though, can only be revealed once the contract has been negotiated and agreed which will be some time way into the future. That in part, imo, is why the markets won't and aren't reacting to this news. None of the vital info investors would want are there yet such as costs, revenues, deal terms etc etc. Instead the RNS contains a lot of typical "AIM speak" such as: "It is intended that" "it believes that" "have the potential to" "we believe it will" "if successful, we believe it will" I'm not down playing the opportunity at all, just highlighting that it is just an LOI and there is a long journey or distance to be travelled before any tangible cash rolls in from that opportunity as per the RNS: "Progression from LOI to a legally binding contract is subject to the completion and full commissioning of the Facility and all appropriate permits being in place" In the meantime then, we are back to grass roots reality here. A reality which I posted about last night and to which no-one has answered my question. The Annual Report (to Dec 2015) stated Revenue as $841,000. It also stated "Other Administrative Expenses" as $4,300,000. That's a massive gap between revenue and some of the outgoings/expenses. How is that gap going to be filled this year? It is this reality which keeps the share suppressed imo. It is this reality which leads people to expect massive dilution and placings. The company has already diluted shareholders massively this year, increasing share issue from 6bn to 10bn with discounted placings, and seen the SP plummet from 0.1p to 0.03p. The last placing was over 3 months ago. The markets I suspect have a view of what is coming.
Sometimes a large company wants contractors/suppliers to provide a certificate of safe disposal. It may be that Pemex will expect contractors to get such a certificate from MDF. DYOR
If you are saying Pemex will want contractors, service suppliers and JV partner to use MDF, I agree. Could be a lot more coming out of this.
Please give us a clue....if you can....
Simple fact many see this as a rinse and repeat dilution vehicle. Dont think people will touch this until Rc officially gone. Then only once the revenues start rolling in from various projects. Been here too long too worry about time scales.
getting on with the announcement about the defenestration of RC might help the sentiment a little bit. i know he does have his fans amongst some of the LTHs on this bb, but probably more broadly amongst most pis he is seen i think as a disastrous liability.
I was expecting at least 3 percent just for old times sake. With a new boss hopefully a new nomad . Imo.
Feel sorry for PIs in here as one of my good mates is a big investor. Hope it comes good for him soon. The reason for no increase in SP in my view is appetite for the share / sentiment is low (hence almost nil volume) and the massive no of shares in issue - 10 billion!
two apparently pretty positive items of news released in quick succession, but pretty much zero sp movement. presumably partly as low PoO is hurting sector sentiment, but still, thought should've seen more movement. placing concerns?