George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Says the non-shareholder...
You couldn't be trying to talk the share price down or could you? Maybe you don't want to look like you made a mistake selling out at the wrong price?
Exactly.. I’ve been saying this for years
LOFGRAN is the problem !!! Over the past 12 years he has lost all credibility , his name is dog s..t in the oil industry , no one trusts him, no one believes a word he says, only green naive will work with him.
He has wrapped HIS company in to many controversial issues in his time, a lot of it unnecessarily, due to his lack of experience and leadership. Look at the mess he got everyone into with the EYGPT fiasco !! A prime example.
NOSTRA TERRA will continue to go NOWHERE for as long as MATT (bull****) LOFGRAN, remains CEO
Share price here would double overnight if a decent CEO was brought in.
All the reserves, lending facility, oil price, blah, blah, blah is doing three fifths of fcuk all for the share price here.
Punters have seen and heard it all before. Imo.
Share price?
WTI $83.38
Kerching!
Re post 1705hrs
"If it is not technical then no doubt you would have drawn out the same conclusions from the report. Which rather begs the question, what is your issue?"
My issue old chap is @ 0816hrs you posted "I will do a bit of a technical analysis for you when I get a moment!"
Guess what...... I did say i'm PMSL and I haven't even read it yet and I'm still laughing more now.
Your conculsion in simple terms was "could do better". You couldn't make it up. It was just a financial forecast with errors. Hence the market didn't go for it.
Heres something technical for you. What would be the out come on C1 if we increased the choke size on the well.
I do believe you agreed to the post back in December regarding Cyress deal and the reason behind it. Could be mistake as I don’t read you post.
However looking forward to next updates. I hope they are better than today’s efforts.
What a load of old 5h1t!
Did wonders for the sp I see.
As usual you make stuff up. How would Strand Energy fit in to your fantasy?
Why not wait for the Q3 update?
Master Stroke?
I answered this last December I think. No it wasn’t a master stroke. CEO let a large part of the WI go for nothing. Cypress needed the well just as much as we didn’t have the money or have any one interested in doing deal with us. Cypress were the only natural partner in the well as they have adjacent wells and I would have been surprised if we had to negotiate access/power to the lease via Cypress.
So much of a master stroke the next well we have partnered in with Cypress is in the same terms. Surely knowing the results of C1 we would have done a better deal on C2 and other wells.
Go and ask…….
How many wells will be planned for Pine Mills?
How many are planned for other leases.
What’s the WI in each.
Is it really worth going to Africa when we have so much potential in the USA. Only if we were to increase our WI and start using some of the money we have squirrelled away this year to start operating ourselves.
Thank you for your technical analysis (adding up/math/sums etc)
It really did change my life knowing you knew less today than you knew yesterday!!!!
Another thing you can do but I decided not to post it, is work out exactly how much that first well with Cypress is worth to NTOG. Pulling that deal off was a master stroke.
ML added serious value with that deal. In the current environment NTOG should be able to secure even better terms with any other future farm in on the Pine Mills acreage; most of which is untouched.
I wouldn't be surprised if ML has not been adding more acreage to NTOG's portfolio.
xx
DYOR
No excuse for intemperate late night outburst then, is there?
If you look at the updated reserves report, you can calculate the production run rate on an annualised basis, roughly speaking. I decided not to do it, I don't you getting even more upset than you already are.
If it is not technical then no doubt you would have drawn out the same conclusions from the report. Which rather begs the question, what is your issue?
xx
DYOR
All these millions of garunteed reserves and future income and yet the SP drops
Not so technical as you thought.
Ps on a personal note I’ve never drank in my 49.10 years
Let see what you have to say when the Q3 update is out.
Anyway, how is the head today? Hopefully, not too foggy...
AIM rules require P1/P2 to be given by asset. An overall figure is not good enough.
Please compare RNS dates 29/09 and 20/10 for figures.
Nothing technical about it.
Remember narrative PRODUCTION PRODUCTION PRODUCTION PRODUCTION & PRODUCTION.
It seams the message is getting out there just a bit slow. Obviously the markets read RNS realised it’s not a reserves update rather than a financial forecast.
Even the 1 ramper must have read and understood it that it was nothing new. It was news for news sake. 10 weeks left for YE.
What does the Troll Hunter Have to do?
Re post 1214hrs
Correct!!!!!!! My reply to I don’t want to sound patronising.
So if I read ( I always get accused of not reading things correctly ) today’s RNS correct our senior lending facility limit has dropped by $50k. Would this suggest drop in reserves?
Surely it can’t be a error on the person who wrote the RNS. As this RNS would have had to be
Approved by someone. This RNS was the new PR attempt.
It’s just a financial prediction. Nothing more or fancy.
But hastily written. It’s not the 1st our RNS’s have came out and had to have figures changed.
26 weeks.
S o o s l o o o o w w w w
50,000?
And so if anyone takes the trouble to read the report you can discern the following:
At the time that the Reserves Report was written not all of the production that could be online, was online.
PDNP is Proved Developed Not Producing. PDNP has an embedded income of $4.8mil vs $40mil for PDP. That is about 10% of the production that could be online wasn't. That means without drilling new wells there is upside for increased production.
That PDNP is at Pine Mills and so should be pretty easy to sort out and get back online. It is not some stranded asset away from everything else.
The Proved Undeveloped (PUD) is interesting. At the Cypress farm out it is given as 403 thousand barrels. That looks to me based on the PDP on Cypress as either one or two new drill locations. Based on the previous RNSs that indicates to me that new PUDs have NOT been included for the extra 80 acres that Cypress/NTOG leased after the Cypress well was drilled. So on the first 80 acres, they were looking at 3/4 wells, lets same the same for the extra 80 acres. If they were added in as PUD that would add bout 500k barrels of oil.
NTOG has indicated that it has been in previous discussions about further farm outs on the Pine Mills acreage. That must mean that acreage is prospective otherwise why would anyone be bothered talking to NTOG about it?
On West Texas it looks like three PUDs.
Not included Caballos Creek and the new Permian Basin Farm In that was done last year.
Overall it looks okay but it also looks like a lot more can be proved up with a bit of drilling. On my numbers NTOG is seriously cash flow positive right now, the Q3 update will probably confirm exactly where we are up to. It looks to me that NTOG might consider doing a couple of new drills to move some of the assets to PUDs. That will make a material difference to the bank facility in due course.
https://www.londonstockexchange.com/news-article/NTOG/permian-basin-farm-in-agreement/14691860
DYOR
Whats the difference between 2350000 & 2.3m?
Hey Troll Hunter I await your techical analysis. This will be really interesting!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!pmsl and I haven't seen it yet.
Todays RNS this day 20th October 2021 is more of a financial statement than a reserves statement.