Member Info for DRWHO319

Indeed as I stated for the lowest was 025-0.30 and added 2m share back then to low down average ! remember the consultant is happy to be paid with 0.3 share and 0.6 as warrants, they know what they doing I think! GLA

Agree! 25x30=750 b/month a use the full hedging amount is indeed no-brainer !

when I said cant go lower, it was the 25bid-30offer, it is now!!!

Well, Lofgram did admit that 1) money raised for drilling at Mesquite field was not spent , 2) hedge facility can be utilised for newly acquired well production at $51ish price so net cash. 3) Cypress farm-in is still on (but have no control over it).... IMHO, the cheap MA deal is saver or bottom line, NOTE: Nostra Terra is guaranteed $55.12 per barrel for 1,500 barrels per month for the remainder of year. this is good one !!!GLA

Well, no matter how bad the reputation of this MATT guy over time, for the current market cap of a bit over £1m, with bank facility (meaning more loans) and reasonable cash flow for $40 price bench market profit , I just cant the SP going any lower . So for what is worth , I added !!! GLA ps: this acquisition has been planing for long time (prudent and good price ). Then the next leg is the drilling news , so I put my money where my mouth is !BUY!

Fair comments BUT: given the Co committed itself with 1st farm-out deal for low risk trial drilling, shown some confidence on its large acreage "asset " base. it indeed justify "hugely under valued fact" on its market cap of £1m esp when PoO is about reach $40, toward $50 yearly average forecast by major investment banks! "landlord strategy" seemed not too bad to me !! GLA

It means NTOG has another 10 days to decide it takes up another 10% of working interests so the deal can be closed for the drilling to kick off formally I think. any other comments ?

Vote Lofgran Out then!

Sorry typo, Market Cap is £900K !

Sounded like a deal is done with the bank by new BOD to secure the facility, which is the most important safety we need ! Next is to remove Matt Lofgran in coming GM as he no longer has any leverage and "voted out" is still a grace saving for ML ! At current market cap of 90K vs the assets, BUY!

Look like it's all about the bank facility that saved Lofgran to stay for a bit longer till new BOD discuss a new bank agreement without this stupid key man clause, then Lofgran MUST GO!

So Lofgran did a deal to cover Aimsworth's back, wonder if he is preparing for similar deal for himself after tomorrow's vote ..

He's basically making a threat, what a piece of s**T!

About time too, I am sure all shareholders , incl the milton 10% fund, paid for 2.4p, will double down on this riddance too, sure they are ****ed too !

I put my money where my mouth is, no point sell at this level, besides, the still borrowing facility . wherever to be , I take m chance , so be it! you never know!

IreneKRAPP : I am not stupid mixing revenue with profit! !
I just point out the basic facts we have so far, unless the audited financial report is published , we don't any other figures to work with ! I If you are so much of financial expert, maybe you can give us STUPID shareholders some indicative figures on NTOG's true financial position ??? GLA

Thanks for warning Steel. However, the well is producing so cash is generating and land for future drillings is secured , so only if this time his dream comes true in near future for us too.. wonder what happens to permit .....GLA

Also, the latest number of NTOG's website:
Existing US Assets (15 Jan 2020)
??646MBO Net Reserves (1P)1
??109 bopd net (194 bopd gross) 2
?? 2.5MMBO recoverable reserves
??$28 million NPV10
IMHO, it means Co is way undervalued by Market.....I keep holding and may add when have more cash... GLA

IreneKrapp: I am by no means defending Matt's poor management but just to quote the last interim numbers as follows ;
"· Revenue for the period of $947,000 (30 June 2018: $1,133,000)
· Gross profit from operations (before depletion, depreciation, amortization and one-off exploration costs) for the period of $297,000 (30 June 2018: $568,000) for $50/bbl to $60/bbl trading price from Jan-Jun 2019.
· Average net oil sales of 98 bopd (30 June 2018: 101 bopd)
Now, since then, the PoO is mostly above $52/bbl and average production maintained similar at approx 98bopd, do you see company is cash negative for month end in December 2019? I hope it is not....

Steeltitan: yes matt has not been effective in delivering what is expected of him, i.e. farming-out deal, permitting and drilling etc..But speaking of Company's potential bankruptcy is utterly nonsense since company is cash generating as shown in last interim results ! With bank loan backed up, only news I am hoping for is it the completion of acquisition other "producing wells" to jack-up the miserably low SP, which could very well happen anytime soon, I hope!!! So hold or add is my position ! GLA