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There really is limited to no downside here. If the company can meet its targeted 800bopd then they will be making a healthy profit as we know at current 400bopd they are breakeven. With cash coming in they can then put more effort into Italy - which we know has huge potential and is a very nice joint venture with Shell. Would like to see an RNS saying they have got to 800bopd as then this will become hugely undervalued. Would suggest any buyer watch level 2 action or do a direct market access trade to pick up any stock close to the bid price. I've added more over the past few weeks getting a few shares using DMA.
Strange I agree. Limited trading as is often the case. However pleased Ask price has come down as wanted to do some toping up. I believe NOP has survived the trauma's of the oil market and its "relocation" to Canada has so far proven correct. Limited downside surely?
Wonder what has caused the big drop today?
There has been recent information. Look on the Company Website. Actually very good news and the upshot is the Company seems to have survived. I am nursing a huge loss, but the only way is up. Would be good to hear from some of the previous posters on here Mikeygit etc. This firm has re-focused to Canada and Keith and team at least have kept us in with a shout.
Why has there been a lack of news regarding Northern Petroleum.
These are nominee holdings not fund managers ones. Still bullish though.
Mr ResearchAnalyst, reading the annual accounts for 2013, 2014 and 2015, after the sale of Dutch assets and entry in Canada, since when the company holds the current asset base, more or less, one cannot avoid observing: *Cash balance at year end progress *Cashflow vs market cap *G&A plus staff and Directors salaries vs remaining cash balance. How can 450 bpd netback spreaded over a large number of wells pay for salaries in Canada, UK staff and Board of directors? Even if someone does believe the netback per barrel presented by the company, how long would they run with current cash, taking into account last years' financial results, ~$3M /year (2015) in salaries and their current balance? Who would give them a debt deal with this track record? *Lastly, nobody is a large investor here at current market cap, even those holding double digit share of the business Fundamentals work if you have proven the ability to capitalize on them.
The lack of volume is the reason for the large spread. However actually spread is actually a lot smaller with sells today at 2.9 and buys at 3.2 in reality making spread just over 10% rather than 36% as advertised. Looking undervalued here. I see a few things that could lead to a substantial upside here 1. Production update on Canada with anything show over month with more than 400bopd on average, 500-600 bops would be good. 2. Bring the 3 additional wells online in Canada 3. Any continued rise in the price of oil 4. Any update on Italy or other assets in relation to farm outs. More farm outs are the best option vs debt/equity raising. Sustained oil price around $50 a barrel and increase in output at Canada should result in positive cash flow for the company which will hopefully cover more than just ongoing operational costs of the company Looking forward to next update
https//petition.parliament.uk/petitions/112044/sponsors/J and please pass on
Please sign petition as posted today by JR710 today on EXPN site https://petition.parliament.uk/pet ions/112044/sponsors/frRbCOsOLD6qIN82UOX and please pass on
Good RNS today. Best bit was the very low operational cost for anything over 400bpd. If they can ramp up to 600+ bpd then this looks very exciting. With no debt and cash coming in this company is now undervalued. However a lot of confidence has evaporated over the last couple of years so the board need to get out and start doing some PR to get some investor confidence. I agree news on Italy is needed and could be the catalyst for a share price re-rate.
Good news today but would have liked to have also heard an update on Italy
do we go up 10% on 2 trades for the day???? At least Barclay's are only showing 2 trades a 1000 sell and a 5500 buy. Look out for news on Monday.
I've noticed that quite often purchases like my 10,000 top up yesterday are showing as a sale rather than a purchase. This is not the first time either is this creating a negative result on the SP? Because in my opinion we should start to see an increase
Very interesting update today. Very good to see oil output on the rise and what looks like a lot more to come. Have to now assume at some point NOP will move into a profit situation and become cash generative. Looks like market cap is now more than accounted for with current assets in Canada and Italy is thrown in for free. Any further good news should be the catalyst for SP rise.
Mikey, to be fair, there have been plenty posters warning you for many years that NOP is a POS which has never made a profit and never will. Your response has always been what how great Kate Bush is. Head in the sand stuff is the way to lose money.
Two share trades all day, a small buy and a sell, spread is still huge and is putting people off the stock. The RNS looks good at first but how long are these initially high flow rates going to last for?
We now have a good revenue stream so looking at the numbers Canada more than covers the market cap alone and so Italy is thrown in for free
I wonder how many staff would NOP currently have, after various restructuring announcements, their move to a cheaper office and their expenditure projections in the last announcements. Mr Mikeygit the numbers cannot totally lie. The % drop in the share price since KB took office, much higher than other operators in the oil-slump, the reported annual balance sheets, the impairment from abandonment costs of tens of wells in the brownfield developments in Canada versus very low reported production figures at current prices, that I suspect barely cover BoD salaries, per last year figures. Moreover, licenses in Italy may expire or be taken soon if no partner is found and NOP have no cash to meet drilling and seismic commitments. Who would buy NOP at the current market? Will the market improve for as long the lights stay on? Lastly, a nice image person doesn't necessarily mean he/she is a strategic and capable leader. Thoughts?
This not the chart of a struggler or at least not about to go under
Well considering market sentiment. Would this be worth a punt at these prices or otherwise?
Micky do agree it's very tough for NOP. However even if they couldn't survive we have to assume the current assets would be worth at least the current market cap so downside looks negligible to me ?
It's a very good feeling to see oil flowing again and cash coming in. Looks like at even this low oil price they can keep the business running. Italy looks extremely promising - if you total up the potential millions of barrels it's an enormous cash number. It's also good to be working with Shell on this one as they will have the contacts to keep things moving with the government. Overall don't expect any major lift up in SP, but if oil price recovers and Italy progresses we could see a lot of upside. My view now is there is little downside and lots of upside. KB is clearly a good leader of this company.