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Yep we are getting there. Just another 2.35p to go.
We will do have faith in the tea leaves. If CEO can’t get sp back to 3p pre Covid especially with higher oil prices and more oil. Coupled with new spud in a few days time. Then it’s just another failed attempt. He get it right one day.
Anyone?
those that got impaled no leaving with tail between legs ....ho ho ho
The key words in the last 2 RNS's are
Loan facility -( this to me and you is a overdraft nothing special. Also how hard is it to sell oil at the moment)
Reserves - ( this is whats in the ground we think it might change. Still trying to work is this for 1 well or lease)
Increased - (we were always going to increase figures from 2020 as they were the lowest. We should used the words back to normal or pre covid levels give or take a few barrels)
Well feck me if we didn't increase figures from 2020 then we were fcuked. After cost cutting mainly wages which are going to come back and bite us. Also if noted they did mention it in RNS that " directors continued to defer elements of their remuneration which was due in 2020 and continued to maintain low cost operations in the field" . Most of our costs are admin looking at results.
No news for over 4 months
Then yesterday RNS about the loan facility. Ramp, ramp.
Impale a few woolybacks
Then poor results today. Go figure?
Thanks for the delayed updates. Most of us if we wanted could have worked out revenue at a given time of the year. The reserves figureI was going to look into but to tell the truth not bothered. I was going to cross ref figurees to the ones being spouted at around Dec 2017. Please don't come back back to me to explain proven or unproven blah blah.
Reveune is a issue now. We need another 4 wells like C1 to show a annual profit and to have funds so we can develop wells c6 and more. The free carry modal on an asset like Cypress is wrong. It shows you don't have the confidence in the bu11$h1t you are selling simples. We need to drill 2 wells at least at 100% WI. Then the investors/partners flow in. As we have de risked the leases.
For all to get the SP moving we need a drilling program of 5 wells to show investors we are not a trick pony. What if C1 had issues this year and needed remedial works say in Octbober and November. We would be up the creek without revenues. YE results would be show increased losses.
Looks like market doesn't like the updates or they just don't simply understand NTOG.
"we continue to expect to be cashflow positive for the full year 2021" - been hearing this for 8 years- I once asked Lofscam to define what cashflow positive means and as you can imagine no reply as he has no F idea!
For me it means more money than your spending - for Lofscam it means more money than his salary each month!
GL
lol
Where are those new pumpers today NICKS & STRETCHUM, et el, Are they not joining in with UNHELPFUL
Given the figures in the H1 report where the average oil price was around $59 per barrel the company will be profitable at the current oil price, especially as production has risen since H1. Furthermore 'As previously announced, we continue to expect to be cashflow positive for the full year 2021. '
Pumpers assemble, gotta get this dead dog moving. ;)
They may just break even at $100 oil?.
Can I take this opportunity to welcome the new long term holders that arrived yesterday.
And what the fook does he think he will achieve in the final quarter of the year
Absolute Jack s..t
It’s all lip service
We've been relatively quiet during the first part of this year but working to progress all our assets and opportunities.
Translates = was busy working for Elephant Oil, riding my bike, and preaching at my local church.
I’m glad your reason it but…….ssssh
Billy. No. Lol
"Increase Borrowing Base to $2,350,000 (from $1,550,000), a 52% increase"
Looks as though they have already used $1,5550,000 of the loan facility, so only $800,000 left avaliable to use? Am I reading that correctly?
'In the first half of 2020 we began working on an asset in Tunisia which we believe has huge potential. We anticipate being able to announce more details on that shortly'
'The rest of the year should be eventful with plenty of news flow for our shareholders'
3p today its got tobe!!! yes no?
'Production post-period has increased and we have additional wells we plan to bring into production'
Production in the period would have been higher had it not been for:
'We took preventative measures and shut-in production for a period in February during the giant winter storm across the entire State. We also undertook some maintenance, that saw some tank batteries shut-in during the period, but in the long-run this should improve run-time in Pine Mills.'
85 per day? After all these years as CEO!
Shocking figures, plus still loosing money.
but lenders require loan facilities to be backed by assets in a small OG company - so they must see realisable market net assets to cover the facility.?
i.e an independent bank has done its sue diligence on the co's financial current value.
Significantly reduced loss for the period of $269,000 (2020: $437,000)
On website “simplywallst” Google Ntog simply wall st.
Let’s tell these guys about understanding NTOG mc.
I had a letter from credit card company this morning saying they have increased my credit limit…………..then guess what I found £20 in my sofa. I put this down to increased reserves!!!!!!!
“Those that fail to learn from history are doomed to repeat it.”
For goodness sake don't look back - yesterday is history.