Member Info for billy101203

This is what I can't get my head around it must be "feign ignorance" or more like Devils Advocate" You choose which.

Hedges

Hedges, with strong counter-party, BP Energy Company, remain in place for 2020 and continue to provide robust support to offset lower oil prices. $48,000 was received for the May contract. Nostra Terra is guaranteed $55.12 per barrel for 1,500 barrels per month for the remainder of year.

So why shut yours.

Now go and get the answer of what potential damage/reduction could be caused by shutting said wells.

should have been in 18 days ago. I would rather see those.

was correct, we shut off wells to obtain reduction (loss of revenue). Why not store oil in lovely battery tanks? Shutt off wells can do more damage than good.

It will be interesting when production re-started and sold. We have YE results soon and I don't want to see covid mentioned in them.

Sorry no. Been a sleep since then and it was too long ago. What must have been relevant then isn't now.

Lets just wait for migrated flow rastes on last well.

We were waiting for flows.

On a side note reducing lifting costs is good news. Why couldn't we do that before to increase profits. You don't just find reductions in your back pocket.

Or

Are such reductions in lifting costs actually shutting wells as they are not economically viable below $55 ($60 if you read one of the past RNS's). I would class this as losing money rather reducing money (costs). You don't drill wells to turn the taps off and on when you want. If you hegded properly we wouldn't have this issue.

Relax!

Last time it was around $47 was March 2017. A lots happened since then. Cost of lifting hasn't gone down. Still need 3 times the amount of oil we had back then to make any well viable sad to say.
WTI needs to be $55 plus for good economics and $70 plus for returns we can "BANK" not borrow against.

Anyway looks the pumping team can't get the SP up or interest going. Only if the cards were put on the table 1st in this game of poker (oil guessing).

Whats required is a road map. We had one back in 2011 which everyone could follow. Theres no secrets no more in the oil patch. Smaller oilies are either shutting in wells or letting everything go in a fire sales. There make more in corn oil.

Key point never put down your share your invested in. You might as well bet on 3 legged horse.

6 to 7 years ago my opinion NTOG would have gone somewhere. If crap shoots like MAGP were worth more than the we should have been flying. At the time we had wells at a lower cost than what we have now.

That said we played in Egypt...big big ..mistake then oil drops. Waste of time and space.

Since FCA stop shorting/borrowing shares on a industrial scale playing in penny shares was dead.

As for interview I learnt too much.

Simple question why hasn't money received every year ever covered costs. Why? Why?
Answer> Its never suppose to. Then goal posts keep moving.

Its easy for a Public listed company to raise funds from market. Killer is it spends it with private companies. Its these that are taking the lion share and some extra for good measure.

For your math you used, most of our wells haven't got a 10 year life span as price of oil kills them off. Like posted before its cost us to lift oil on some of the wells if not all.

(math its Americanism)

I wouldn't we suprised with the rise in sp is down to someone doing a placing to get funds to complete well, buy more acreage blah blah.
Or someone off loading a few million shares as its certainly not down to a few trades that making the SP move.

Looks like the PR team can't even help now.

So if you were to buy shares right now it will cost you.

Happy happy! keep pumping

A better question you should as is,
“If I Invest will I get my money back?”

Well my shares are all free shares. Others invested here with big sums promised the rubicon.

Since the drop in oil prices several years ago. All oilies are dead ducks. You have to have 1000bopd to even be viable and self sufficient.

When we had oil the oil prices tanked. We were left with wells that cost us money to lift.

To be anywhere near where we were say 5 years ago when oil price was high we have to be pumping 3 times the amount of oil.

So it’s not a question of how much an investor has lost or is down.

The market is against us and it doesn’t help we are still aiming for low hanging fruits. NTOG has no ambition and I’m afraid we have turned into a Ma & Pa outfit

Would have known in doesn't take 14 days for flow rates. There will be oil but how much, what % is ours, there's, and everyone else's inbetween.

We should have had 24hr test result then an average over a nummber of days depending how much spin was being put on flows.

Please give it a rest.

thanks

Any rise today has just been killed off by spread. At least your trying.
Thought for the day whilst your trying to justify your posts,

"NTOG is a Historical Irony for investors"

If you manage to trade it top marks

Let them pump it with a bit of luck it’s got to come good one day.

Remember peeps no matter how positive the RNS is it drops like a pair of tarts knickers!

"news is coming"

Any idea on what is could be?

Looks like its going to drop a few more pence. We still have the Arcadia news to be confirmed

The tarts knickers are going back up!

Gl