Member Info for billy101203

These are excuses now.

I said I expect C2 to take 21 days from spud. We know the pitfalls and issues we encountered with C1. So they shouldn’t come up with C2. So as soon as spud is announced I give 21says. We have about 85 days left of Q4. It C2 is not spudded this quarter then you might as well knock off another 20% of the share price. As confidence is low all ready with the sand bagging of news this year. You suggest delays in C2. CEO released RNS this saying deal done on C2.

I see the new narative is out for this month. You suggesting C2 isn't happening this year at all? I was expecting well to all done in 21days from spud. The word I'm looking for is deflection.

Its not too expensive to pick up deals. The deals that others are going for are larger and better. We might have leases with oil but its not enough to have several partners in. Otherwise we would have partners lining up. Since price crash after 2016 then covid drop every investor out there knows how low it can go and wipe you out.

However you can't make a silk purse out of a sow's ear!

Blue good start. Not so speculative now.

Excellent news! I'm hoping for more C2 should be online by YE.

However this is not Rerversion and is not a phenomenon.

Its a "RECOVERY"...................which most stocks have gone through or are going through apart NTOG. We have gone backwards even with more oil and a higher WTI price. Our share price dropped 80% from 3p pre covid and we can't maintain a rise. Surely buy now we could have been back upto 2p at least.

The reason why we are is simply. Market maker knows we need money and we can only attract speculative investers (gamblers,grannies,& leprechauns). So the SP stays low at the sh!$ty rate. If sp was 3p/7p you would look twice at NTOG and do DD. Until we have 100% WI in wells and control everything. We will only be considered as a financier & facilitator (middleman, Mr 20%er).
Market maker will always knock our door and offer us a chance to raise funds ( do a placing becasue they have enough grannies in their tearooms) as they know when we need money , minus their 20%. This is how the game works.
So don't expect the SP to rise until CEO gives the nod or market maker has enough grannies to mug.

RR. Or Lloy is more akin to reversion to the mean.

Not a share that’s bankrupt so to speak as to having no cash to fund itself at operating level.

Come on you, you don’t believe that.

With all your intelligence and you use mean reversion. Long and short of it you took a punt because you got a whisper from some one. Now locked in and trying your best to stay positive live we all are.

There’s a poster on here from the south west who got it right. He said back in 2012 from memory to me, “ you know NTOG is good for 20%” boy was he right all these years later.

You and I know NTOg isn’t worth the paper it’s written on.
Some of all our assets can’t command a value. As what our CEO sees in them others may not. It’s a speculative buy/value.

Excellent post!

Good post LMFAO!!!!!

Ps wti needs to be $85 before it makes a difference to us.

Would you really be dumping your placing shares after todays RNS. Those that sold their placing shares have either gone or holding to double their money at least. Nothing to do with placing shares. This is simply the fact PI's are holding and there is just too few shares out there. Normally when you sell placing shares a spike is created. We have not had one. Its another hold by PI's as they don't want to **** the next multibagger

There will be those who are in and those who are out. Those that a in are happy to wait now. Now the ones trying to get in the sp at the moment is cheap. if you can get in lower top marks. However Ive never known a share which was hard to trade. Theres just not enough shares to go round. I've personally just had a little top up @ 1.195 only for £1k adding another 82375 shares.(which could be 4 to 5k before you know it).

I posted when the RNS for placing came out that this is now a bottom draw share. Put it away and comeback later...........just changed my mind and now its top draw!

I concur

We were waiting on the API application.
This is even better and quicker..........................maybe the all the ducksthat have been lined up will be clicked together sooner.

No one seen this move coming!

I must have read if wrong somewhere. I thought we had 105bopd approx at the start of year..........................have we lost a few barrels/wells during the year?

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.

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!

You really want to pick on me?

History is against you already.

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.

Absolute rollox.