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Lack of interest is killing off the forward selling (placing inbound)
It’s needs more of an effort 🤔
OMG lord give me strength. its gone up 45% the last few days people bound to take profit. Its the stock market that's why investors buy and sell except stylshyt his still here 15 years and counting.
A small drop after doing double digits 2 days on the trot nothing to worry about. Still low volumes, we’ve seen what a few largish buys can do.
Rag,
Amazin init...15 years and -99.7% to show for it. Guess that would be enough to tip anyone over the edge.
Just a thought until the new broom releases a drilling campaign and financial s on Matt’s departure (golden handshake) nothing has changed.
Hopefully the 1st thing on the new broom’s agenda is how to stop the debt we have everyone we sell a barrel of oil. Go figure that out?
3p soon
Sorry typo
Every time we sell a barrel of oil…,
At $80ish a barrel they should be making decent returns
West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel.
The current price of WTI crude oil as of May 22, 2024 is 79.26 per barrel.
Yes a company with debt, what a shocker. Making money in H1 2023 after interest payments, now we have increased production since August.
Shocker!!!!!!!!!!!!!!!! Yes
Like I said go figure it out. EVERY BARREL OF OIL WE SELL WE GET IN TO DEBT.
Considering 2 years previous we reduced costs. Just wondering if the pay cut the board took was instated. I suppose YE results will tell. What did we do with the last little placing we did "whislt in profit".
Oh we hedge our sales in USD WTI prices currently at $78.27 it costs us $56 uplift from memory. Give or take $5 to $9 discount to hedge (loan facility etc).
leave you with chaps. By the 3p soon as new broom will want to make his mark.
Billy on that basis NTOG will NEVER make any money so what's the point of them doing it in the first place?
I've always seen numbers closer to $30-$40 per barrel in term of uplift costs for land based Texas oil fields to be profitable, not sure where you get $56 from?
Newuncle I like the enthusiasm!
$56 uplift was what was quoted by CEO etc. Now for me any well drilled after 2020 was over priced/quoted, even by Cypress.
Hopefully if new broom can get costs (hangers on ) down we could see profit maybe for the 1st year then the cycle starts again.
I for one am hoping new broom has a more trusting nature about him than the past lot. But we do money to go forward as theres nothing left in the TANK. Get rid of PB and drill PM. I sure they a few friends that can get in to action for the 1st NEW spud.
Also we need to change company name asap!
Death by association is a killer!
Wouldn't PennPetro be in a similar position as they also work in Texas, from PPP RNS:
"In line with our strategy, all our operations are in highly active hydrocarbon plays where the potential economics of drilling and producing oil remain attractive at sub-US$30 oil prices."
You would think so.
However we had NO money for PM wells we needed Cypress and that’s the deal CEO cut. He had a habit of selling off the silver.
$800k 1st PM well cost that’s about $420k more than it
Should have . Now you can see how the money was spent and to whose benefit. Once we got money we kept borrowing against it. Hence why no would buy NTOG or take in over. Next option was to le the Sp drift low enough so new broom can come in and then the slide of hand occurred seamlessly. All in time for Eleplop IPO.
Just an opinion mind you.
So you say lofgran sold fouke 1 and 3 to cypress who then got impressive returns but ntog got zero from that deal in pine field. So when lofgran talked about how good that was he was only showing it as an example of what might be possible for ntog going forwards?
The wells cost what they cost there’s no conspiracy. $4m debt, generating $4m revenue per year. We’ve just started generating net cash and entered not a strategic partnership which provided modern 3d for the cost of 12.5% on 3 wells, so approx $200k which is an absolute bargain. Gives us the targeting for Fouke type wells over a much larger area, very low cost.
Getting rid of the free riders is important, clearly paying ÂŁ270k ceo salary on a ÂŁ1.5m mcap is ridiculous.
And farming out for well costs isn’t ’selling off the silver’.. Fouke 1&2 have taken our production to all time highs, they continue to produce with no water cut. Plenty of time spend analysing these wells will make future drilling cheaper and better targeted.
Mewuncle…… we sell F1 or F2 or any other F well.
We just had to do the deal he did and give the Lions share away as per usual we didn’t have a lot to p iss in.
You have to go through the history to work the house silver we kept selling and at times even lost!
Good to have all matters discussed here, I am not that familiar with all the history here so appreciate the clarification on these issues
Typo again fat fingers.
Mewuncle…… we didn’t F1 or F2 or any other F well….