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That old chestnut!
Never gets old that one :)
https://oilprice.com/Energy/Crude-Oil/OPEC-Meeting-Ends-With-Minor-Oil-Production-Hike.html
Lol. Restate ?!!!!
That’s what UNHELPFUL said a year ago
Excellent news! More wells the better.
I hope we manage to increase production just a tad so when we put Admin(wages) overheads back in, we don't eat into our new found profits. We do seem to have high depreciation.
On another note if you or some can explain what is "cashflow positive as corporate" level mean?
re post 1447hrs
Now this morning you were positive. Whats happened since then? The only we will get a re rate(correction 1st). Is to have a multiwell drill program just like to had on Chisholm. A road map to keep investor new and old interested. Then you will is significant buying and we can ramp away.
Otherwises we will be in the same rot we been for 4 to 6 years. If we don't aim to develop a multiwell drill program I can see CEO doing what his good at and thats proving the lease and selling to fund next transformational deal, maybe in africa. However one caan't felling we be riding bareback on a elephant than a camel.
Hey Trolls
WTI currently $78.20. Just think of all that extra lovely money.
DYOR
WTI is currently trading at a 7-year high above $77/barrel and Brent just hit $81
NTOG share price is still trading close to multi-year low share price so it would take much buying to see a significant re-rate higher
Hey Trolls, something for you to get your teeth into.
If you take the trouble to read the report and accounts, the following is important.
Average bopd 84, average price was $63.28. loss $269k. The big freeze and the storms that hit took a big chunk of the production out for a while. So, assuming no big hit in H2 the numbers would look something like this.
Current WTI price is $76.97. Assume average sale price is $72 and all the production is back up, so production averages 100 bopd and the production costs stay about the same.
100 x $72 x 365/2 = $1,314,000.
H1 revenue was $963.000
Delta is $351,000.
So on that basis NTOG is profitable for H2 BEFORE it drills Cypress 2, before it does the Permian Basin workover and before it does its aggressive workover and reconnection programme.
Obviously, you can play around with the numbers a bit: current BOPD might be a bit higher or lower, WTI might be a bit higher but nonetheless it is there or thereabouts.
Cypress 2 should come in about 20bopd net to NTOG, Permian Basin about the same and then you have the workover and reconnection programme. By year end NTOG should be able to add maybe 60/80 bopd. It doesn't need to but it looks likely that it will.
What that means is going into 2022 it will be cashflow positive and profitable. So it should be able to cashflow any work needed on the Tunisian asset.
Keep your chins up, you are doing a great job with all the trolling.
DYOR
Stop getting excited. Its just a secured OD..........with 1st charge secured on a asset (company) hence why they call it "SENIOR".
Now we can only take another $800k of the $10m "senior lending facility" This has been worked out by average number of barrels recovered x 30 days or 365 days x price of WTI which give you approx $2.5m in revenue of 12 months give or take -/+ $200k.
So they could have called it $100m lending facility but the caveat is you will only get to use up the value of the reserves or assets you have. Hence why the will review it twice ayear (scary).
Now saying the above and being told by said poster that I have not got a clue was silly. I said history is against you and us. Back in 2014 we had a $25m senior lending facility with the same amout of oil.
Just thought I mention that for you!
It's a $10million bank facility so there's over $7.65million headroom above the current borrowing base (which is based on existing proven reserves) that NTOG can utilise to acquire assets with proven reserves at a very low interest rate
800k left but at least the greedy thieving board members continue to take their fatcat wages.
I remember a podcast LOFGRAN did last year and he said about giving out dividends .,. What a load of tosh
You really want to pick on me?
History is against you already.
Could have sworn you said no more from you and that you had grown out of kindergarten 55 years ago :)
Is this Jimzi bell-nd? The latest paid pumper, late to the party were going back down to 0.025p ready for the next placing, no point pumping on way down u mook
LMAO
Bracket, please don’t tell me this “overdraft “ is at 4.4% unsecured and they love you for being such a success as you post here all the time ( and hold shares in such a duff company?)
Hinge, I’m sure your going to let us know you have a massive OD as well at Libor plus nothing ( PS you forgot to recommend Bracket)
Half term soon - time to learn some banking practices.
See u at the back of the bike shed where mama won’t find you.
GL
Long and short of it is. We only got another $800k. It’s in the RNS. This will be reviewed twice a year and it can go or down.
My own company OD is more than this.
Fooking jog on *********
Look at ntog history and stop dreaming
Yep, it’s exactly the same! Reply soooo predictable. I thought Hinge & Bracket had died . Banker sees interim loss- let’s lend them more money then - from the Bank of Steele- in business shorter than a small energy supplier.
Shame no other dross shares can get such a credit card . I wonder why?
Good luck investing cause your world is in a parallel one to mine and most others - credit card- please lol
Most ignorant and immature bb on the site. Well done boys. No more from me, grown out of kindergarten 55years ago.
Que…………………..
Bank facility, total tosh
It’s no different to a credit card company increasing your limit by another few thousand quid encouraging you to spend more money .
The issue with ntog is they aren’t even using the loan facility
Absolute rollox.
And I'm sure a few have gone through the holdings RNS to find around 45% is sticky - well sticky at this low price.
So free float at present under 400m and why are Miton holding 10%?
Banks assess the market value of an asset, knock 50% off the amount and another 50% off the price to give them their safe security value. So you can work backwards from the facility to see the real value.
A few cannot seem to grasp the significance of the banks due diligence on NTOGs reserves - or the fact a bank is prepared to lend money to any AIM company, let alone one with a £3m mcap. - funding is normally via a 50% discount placing..
Nostra Terra Oil & Gas (AIM NTOG) announced a half year loss of $269,000...
Well it's a start. Lol
steelshyt to thick to understand lol. Just be get upthecoat and relieve yourself you worm..
Sounds like rag has little willy syndrome:)
Not as thick as you... Shag worm.