Drewky. My holding since I first invested last year remains the same. I do not day trade as It's not my preferred strategy. My concern with regard to the lack of any real progress is that of a concerned LTH. The Share at this point in time is simply not delivering any value. That is after all the singular reason we invest. Perhaps you would care to enlighten me as to where you see real value having been generated.
Matt has not communicated a provisional plan for proposed production activity. How many additional wells are NTOG proposing to bring on line this year. I hope it's a little more than have come into production during the first half of this year otherwise I sadly suspect that interest will continue to diminish. NTOG should have keep up the positive momentum that was present circa early May concerning proposed further drill dates and permits. I do hope we start see a real turnaround soon one that can be measured by Shareholders in terms of value appreciation.
Success is measured ultimately by Shareholder value. At the moment despite many positive RNS's we are struggling to get above 4p and a 5 Million market mcap. What is needed is an acceleration in bringing our assets into production. The current rate of 1 well producing 30-50 BOPD. coming online every six months does not excite the market or entice investors. Production wise very little had happened this year.
I've no problem with the acquisition of proven assets at the right price which in time will enhance NTOG's bank balance and in turn shareholder value. My concern would be a placing which would be at a discount to the current SP. This invariably would penalise current holders whilst benefiting those looking to buy in and those looking to average down. The current timeframe for bringing our existing wells into production has been one this year with well G6 on the way. That's 2 out of 24. How quickly and at what cost can NTOG start to see a return on possible assets bought cheaply from MAGP. If a common sense approach is applied by NTOG and i like to think that Matt will be pragmatic Weyland you will recover you current position with plenty to spare. ATB.
NTOG have 21 remaining wells to drill at the Permian Basin. It would be good to see some further progress being made both here and at Pine Mills to further increase our revenue,profit and generate some shareholder value.
There is a further shipment of a similar quantity in October 2018. Would these two shipments and the revenue received clear all existing debt and leave company cash positive with free cash flow to reinvest.
Gerry65, I held here for circa two years until January of this year. Very accurate summarisation of events from the fantastic rises seen from June 2017 onwards and the unfortunate events that followed on from the cement squeeze issue in October 2017. From that point onwards very disappointing sequence of events that severely impacted the SP that initially promised so much. I do feel that this will come good but I am not entirely convinced by SS.
UKOG have a 50 Million market cap based on no producing assets and a mountain of debt. They will shortly anounce another share placing.They have substantial proven reserves which are impressive but of not much use with the poor flow rates they announced recently at their Broadford Bridge discovery. Urals also have impressive reserves at Arcticneft,Ordymsky and Petrosakh. However, the revenue of circa 50 Million dollars per year is unheard of for companies with such a small market cap. The balance sheet also makes impressive reading.How much of an issue is debt.
Apologies for typo below should read so undervalued
Having reviewed the fundamentals that Urals have in place in terms of revenue,assets,reserves, average daily production rates and board recommendation for the payment of first dividend. I'm somewhat surprised that the Market Cap and SP are do undervalued. Any LTH's that can elaborate as to why.