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In which case, the order book should be filled?! I think we should more on this very soon..
"On other news, Northcote Energy Ltd (LON:NCT) told investors that its Mexican venture has signed a deal with PEMEX, the national oil company, to provide services. A letter of intent envisages the AIM quoted group’s 51% joint venture Mayan Drilling Fluids (MDF) providing a range of waste remediation services via its facility in Comalcalco, Mexico."
WSJ yesterday : ) http://www.wsj.com/articles/natural-gas-prices-heat-up-along-with-weather-1470237490
Am expecting an update on LM14 and other gaseous zones; with gas prices on the up the new strategy is very well timed. The model for SC gas makes very good profits at $2 (I know because I asked) - so prices already 30% higher than that now and forecasting over $3. Gas gas and more gas, they know exactly where it is - this isn't about expensive drilling, low cost Workovers and tie ins. Reuters Futures prices are already anticipating a tighter supply-demand-stocks balance at the end of next winter. Futures prices for gas delivered in March 2017 have risen 31 percent from $2.50 to $3.28 per million British thermal units (tmsnrt.rs/29thaDE). http://reut.rs/29OqcZN
Get a life.
LM#14 gas sales are a ways off. If you want to take the time estimates in the RNS at face value then good luck to you sir. Experience tells me that timescales tend to slip fairly significantly, just look at the drill for LM21/22, supposed to have happened late 2015, then supposed to happen May 16th ish, and now anyone's guess, slowly slipping into obscurity. Imo gas revenues won't start until the new year but that's just my personal speculation. Either way, the difference between revenue and outgoings is $millions and so even if gas sales do begin in November, we are virtually at the end of the year. Quite aside from the funding needs for expenses/working capital/salaries etc there is now some level of funding required for the gas tie-in installation as per the RNS. Where is all this money going to come from? The market imo knows/suspects as the precedent has already been set this year. Share issue has so far been increased from 6 billion to 10 billion and the shares were issued at significant discount to the prevailing SP, some 33% discount, and as a result of that dilution imo, the SP has tanked to current levels. It is surely for this reason that, no matter what news is announced, the markets don't appear to "bite" the hook and the SP goes nowhere. It's an unfortunate situation because it means all the good news is actually going to waste. I don't subscribe to your fanciful notion that a raise would be done well above current SP but I suspect you are just playing with terminology there. The only relevant terminology is the PREVAILING SP at the time of any placing. Given the last 2 placings were at a large discount to the prevailing SP at the time, common sense suggests that any subsequent placing will also be at discount. A 33% discount to current 0.03p levels would be a nightmare for holders imo.
Blingybird - how very true - I have him filtered, life too short - RRR has a lot to answer for. Very sad. I am all for reasoned debate but I suspect he won't change his stance that's why he's filtered. Wonder whether he'll be still be here when NCT is on track for big time change - no doubt he'll be continuing his negativity. Your post this morning was spot on - many will be looking at NCT, seeing what is unfolding now as a steal, that is what AIM is very much about.....low cost positioning for serious returns. That is precisely how I made a lot of money on AIM. We will do very well imo
Over the last few months now ive kept up re your posts and others all showing different views some positive some negative . and also posted a few of my own And if I may I ask you once more are you a holder and what is your agenda You state Orslega and others of being jam Tomoro posters or rampers and you do highlight the negatives or facts as you see it re position of the company and randy etc from your perspective . Which I do actually see but not agree with , but it is with so much enthusiasm that I see your negativitvity that I question your motives , and ask why are you on the board is it to save us from ourselves and investing further in a lame company or something else If I held the same feeling in either buisness or personal id cut it out of my life and walk away Something you do not appear to be able to do Either way you come across to me personally as a very unhappy chap and I hope your fortunes change Life's not that bad
"isn't going to bridge the gap" You are right LM20 is not (@ the moment) but what about LM14 gas sales and other as yet undisclosed workovers...apparently LM13 is looking to be a very attractive option? Personally if their is a raise here to fund further expansion as long as the price is well above current SP what's not to like - Agree?
Heart10_5 - "but do you feel there will be another placing to keep the co afloat until revenue comes in , your buy of 15.5m got hammered by a 30odd mil sell and a few others . To invest here is very HIGH RISK" Those sells have been happening since end of June as someone (or a group) with many shares steadily exits. Regs here don't want to talk about why someone would be so desperate to bail out at this juncture with all this so-called great news imminent. They just harp on about buys, not sells. I believe that seller to be highly significant but each to their own. Don't expect an answer regarding your views on placings, another no no topic for the rampsters. Common sense imo tells you another will be forthcoming and personally I believe that's why the seller or sellers have been steadily exiting. The annual report shows the massive gap between Revenue and Outgoings. The money has to come from somewhere and a few barrels of oil from LM#20 isn't going to bridge that gap. DYOR.
Natural gas on NYMEX and WTI both up a little over 4%.
Yeah, let's do what Labrat wants and ignore commercial confidentiality. Putting all the metrics in the public domain and revealing our business plan would mean potential competitors get a head start and potential customers know our negotiating position. Ideal for maximising profits - not.
Stu i admire your ball breaking buy today you must think it is worth it but do you feel there will be another placing to keep the co afloat until revenue comes in , your buy of 15.5m got hammered by a 30odd mil sell and a few others . To invest here is very HIGH RISK I'm in but only for a punt as I've seen many Co go under on aim MXP and also the big one AFR last year . Good luck i hope it works for you mate
Stu i admire your ball breaking buy today you must think it is worth it but do you feel there will be another placing to keep the co afloat until revenue comes in , your buy of 15.5m got hammered by a 30odd mil sell and a few others . To invest here is very HIGH RISK I'm in but only for a punt as I've seen many Co go under on aim MXP and also the big one AFR last year . Good luck i hope it works for you mate
ha ha the early blingybird catches the worm, that was his informed point and the position he has taken : ) (of course there are other which prefer to wait............each to their own...you pay your money, etc etc All I would say from experience is that AIM can be very volatile, this time I sincerely believe NCT is on the cusp.....imo of course)
blingybird, as a major shareholder in NCT was spot on this morning : )
when the share price will sort itself out........
nothing like the element of surprise ; )
The company need to do a better job of explaining the fiscal terms of the RP because significant revenue is to arbitrary. Investors want hard numbers, not woolly statements. Until they explain these more clearly then days like today are going to be repeated and news is going to ignored because most do not know what it means and they will simply not bother looking further. They need to demonstrate the potential of the plant more concisely and they have got to do a better job of selling the investment case because at the minute they are failing to do this.
Massive volume ? lols A tiny % of the total share issue. I note another 25m quietly exited (@ 0.028p) Crew fooling no-one here imo.
No price change.... Remarkable.... House broker must be working his guccis off.
How to calculate the weight. http://www.drillingformulas.com/amount-of-cuttings-total-solid-generated/
Well, I topped up a few more.. 15.5m- a gift IMO,..and will continue to accumulate.. the next few weeks & months are going to be transformational for us.. Today was a start, an extra for us.. And IMO much more similar to come.. ;-))
32,535,371 sold for 0.028p. What's the betting it is the same 30m bought first thing this morning? Seems there are either people out there constantly hoping that each piece of "jam tomorrow" news will create a quick spike, or perhaps they are just trying to generate buying momentum where there is none to speak of. Rampsters continue to flood the board with news articles and sound bites but none of it, not one iota can hide the issue of Revenue vs Expenses. The last Annual Report is a must read for the facts: http://www.northcoteenergy.com/wp-content/uploads/Northcote-Energy-Annual-Report-and-Financial-Statements-2015.pdf