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This sums up Matt Lofgrans company.....
“NTOG announced that its principal shareholder has dumped half their stake,”
Hmm not so sticky
If there are gullible investors sat in the fence looking in waiting for the right time to throw your hard earned money away, bear this in mind.
Last week, CEO Matt ‘waste of space’ LOFGRAN, announced by RNS that his MAIN SHAREHOLDER had DUMPED, yes that’s right, DUMPED half their stock.
That’s says a lot about their faith in Matt Lofgrunt.
He’s been CEO 11 years. Made himself a fortune whilst rinsing shareholders.
He hasn’t drilled in over 2.5 years . There was ZERO activity last year and this year is heading in the same direction.
Wide berth on this stock
A balanced overview as always..
That comes from 11 years experience of Matt Lofgran and NOSTRA TERRIBLE
Mr Helpful runs and an investment company who dishes out crap advice
Also, let’s not forget the board has a new FREELOADING Director, Robert Bensh!!!
He’s obviously heard he can make a few million for also doing fook all, just like Lofgran and co
Miton is getting rid of stock all over the place...
https://www.lse.co.uk/rns/ZEN/holdings-in-company-fju173hi5wgyjd2.html
Do you not read anything?
https://www.lse.co.uk/rns/NTOG/update-re-requisition-to-convene-a-general-meeting-gihd3wtqu853jvc.html
http://www.ntog.co.uk/our-team
I know RB and he is not a director. If he is doing any free loading it is being done elsewhere.
DYOR
How about Miton are clearing the deck all over the place and have been doing so for a while. Them getting rid of NTOG stock doesn't say much about NTOG or ML one way or another. Why not just do the basics and check stuff out?
Letting personal invective get in the way is not a rational way to invest.
Listen helpful. Why don’t you fook off and go and be boring on another board. You know absolute Jack **** about the history of ntog.
HELPFUL. ....,
You say Milton is getting rid of stock all over the place, then show us where . Your link refers to one other company,ZEN, who look to be in a similar place to Ntog, going nowhere .
Milton are prob offloading crap stocks with no future
Ok, I will play. Lets pretend you are a real investor and interested in discussing things.
I was responding to the comment that Miton was "dumping" stock and therefore it said a lot about Miton's confidence in NTOG and ML.
My point is that Miton is indiscriminately getting rid of lots of positions and therefore the sale was nothing to do with Miton having a view on NTOG or ML, one way or another. There was an opportunity to reduce its position and it took it.
My "investment strategy", such as it is , is not influenced by Miton or anyone else. I sold some at 0.42p having invested at 0.25p. I have only ever made money on NTOG and when I am out, I reckon that I will have done quite well overall. I fully anticipate going back in at a later date.
$50 oil is coming and with the Cypress drill coming up NTOG should do quite well. Saudi has confirmed earlier that it will not be increasing supply in August and so the $50 is nailed on.
https://twitter.com/Amena__Bakr/status/1283006437690683397?s=20
Cypress will know this just as well as me. I expect that they will be drilling in August (nb expect doesn't mean know).
People need to calm down re ML. If you don't like him, sell and move on. The object of investing is to make money, nothing else.
For the record as I have said several times and I have said to ML: the Mesquite adventure was a mistake from start to finish. He should have just concentrated on Pine Mills. I have always liked Pine Mills, the Permian Basin assets less so.
DYOR
I dont see how you can say with authority that miton are not dumping because they dont believe in ML. They are selling at half price after nothing has happened for a year. Id say more likely selling as they realise they were fed a pack of lies about Mesquite prospect. Just my guess can't say for definite.
Weyland, because they have been doing the same elsewhere and ML is not involved there.
The statement about ML is called the particular case and what Miton are doing is the general case. They are reducing positions across the board where they can. Why would they reduce now when looks like oil is going to $50 and Cypress are about to drill? The sensible trade would be to wait for $50 and sell in once drilling starts: if you can.
Miton are getting lots of redemptions, they need to produce cash to meet the redemptions..
DYOR
They’ve dumped half because of no faith in Lofgran.
They like us are still waiting for the permitting news that was announced on OCT 2019.
The news was supposed to be due in weeks/ months. 9 FOOKING months and we are still waiting.
That’s why Milton are ditching ntog , because Lofgran is full of S.h.1.t
Look Titan, if you want to believe that then fine but it is not the case.
The Cypress deal always had a six month long stop in it and it was extended because of the COVID shut down.
The process is that Cypress needs to get a title report done before they apply for the permits. Doing a drill title report is a big job and expensive. https://mineralrightspodcast.com/mrp-10-how-to-perform-a-title-search/
Cypress are not going to start drilling till they have the drilling title report back. It costs around $25k.
Keep an eye on the RRR database, once the permit application goes in then you know it is on the way.
DYOR
What other positions are Miton exiting?
When you’ve been here long enough you will understand what bull S.h.i.t LOGFRAN spouts.
Not interested in cypress . More interested to know why there’s been no update with the Mesquite permitting
Fine Titan, I will leave you to it.
Nothing will happen on Mesquite. It is a horizontal drill into a tight formation that needs fracking. In the current price environment there is just no point in progressing it.
https://www.londonstockexchange.com/news-article/NTOG/ps1-15-million-placing-to-develop-mesquite/13982784
I never liked Mesquite it was always a mistake in my view.
DYOR
The point is Lofgran needs to give a full operational update on what he intends to do with mesquite rather than have investors being sat in the dark wondering what the FOOK is going on
He has told you; Cypress is next and then possibly two further farm outs.
Nothing will happen on Mesquite below $55/$60 oil. It is just not financially viable.
I say again, he needs to explain to investors who are still waiting on permitting news
Well email him. I have spoken to him about it and he is quite happy to discuss it.
Permits run out of date. There is no point in getting the permits unless you intend to drill pretty soon.
As to Miton, I have confirmed it is exactly as I said. Miton have a closed ended fund. The investors get a once a year opportunity to redeem: 20% ticked the box to redeem. The redemption is across the board. And no this is not inside information.
DYOR
HELPFUL, what part of my 11years experiences do you not understand .
He will tell you what you want to hear, ‘Total Bull’.
He’s been doing it for 11 years .
If a phone conversation with Lofgran in 2010, he personally told me his ‘ Dream’ yes that’s right, his ‘Dream’ was to have 10 oil fields, each producing 100 bls per day.. The guy is a fantasist, dreamer call him what you want. He will just bullS.h.1.t. Commonly known as stringing investors along
AMEN
Friday, Friday, Friday! And the weekly award for the poorest performer in my portfolio goes to........(drum roll)
NTOG! Well done Matt! :)
Enjoyed this weeks banter, unfortunately the ramping crew came up short again as their pro NTOG arguments were (easily) systematically dismantled and debunked by the loyal long termers. Don't let that put you off rampers!