Member Info for FrankMini

I am still positive, the Dommo investors on the BR BBs are still assuming that the stated production increase is due to a potential deal with NUOG and the use of 'Chinese technology'.

A main poster has suggested that "they (DOMMO) are holding too much money to be nothing more than the closure of the Judicial Recovery Plan" and that the postponement of the disclosure of the balance sheet is to protect this information.

Watch this space...

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railander Level 3

Posts: 8632
Join Date: 12/23/2008

NUOG is the company that will develop the TM field. this agreement with the company is almost certain. The disclosure is sufficient since the recovery of the existing wells is already under analysis.

I also believe that Simon's tweet this morning was pre-emptive and quite explicit when considering today's RNS.

Specifically the 'redevelopment of producing fields' and 'targets still in play' - no-one was questioning that until the DOMMO RNS came through so I am confident in the deal being on.

Nu-Oil continue to progress marginal field projects with @MFDevCo. Focused on securing priority targets located offshore Brazil & in the North Sea including redevelopment of producing field; targets still in play. Also working to progress assets in western Newfoundland. #NUOG

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Joao Plenario Level 2

" Dissemination of Additional Information to the Market:
During negotiations and discussions regarding the New Chartering with OSX 3, Dommo Energia prepared several studies (" Materials ") regarding the potential production of TBMT, Revitalization, and an efficiency project energy on the FPSO. [...]"

Now I felt firmness in this strange NUOG business that no one understood for sure. Dommo continues with the field and the FPSO, and to improve still has this study of potential field production that has everything to do with NUOG from what I could perceive there from the other forum.

And if the improvements in this study can produce what is expected of the FPSO's capacity then the Atlanta field will end up being overrun if it is actually lost.

Personally I think they have it the wrong way around - there are suggestions on the BR boards that a consortium partner is being brought in to improve and streamline production (actually naming NUOG as the likely candidate).

Maybe this is not what we envisaged a deal to look like but DOMMO now have some very tough production targets to meet and have employed the use of external consultants to reduce diesel inefficiencies.

http://dommoenergia.com.br/wp-content/uploads/sites/9/2018/11/2018.11.26-New-Charter-OSX3_Eng.pdf

I'm not sure if this has been mentioned but the bondholders vote needs to pass by 2/3 and voting closes on the 30th of November 2018.

This is going to move quickly, once confirmed (fingers crossed), the agreement is then open to be signed.

Will we know the result by the 3rd of December? Is the 30th of November the last date NUOG investors can enjoy a cheap SP?

They have been up there for about a year I am afraid!

We all have an agenda Cobrakai, mine is to make modest amounts of money so I can buy a second car with a V8 engine and a picturesque house.

I think my post adds perspective to what has been a very fruitless year of tangible results - we are wanting one of these points to be nailed down but yet another year of expenditure unsupported by actual revenue.

Let's not kid ourselves, the BOD need to deliver before blind allegiance and faith can be earnt.

"So much news to come

1. Start of flow rate tests
2. Farm in at garden hills
3. Flow rates
4. 1st marginal field deal
5. Finding out what MFDevCo China facilities is all about
6. EL1070 update
7. Helvick and Dunmore update
then later in the year...MF deal 2, 3......."

Mark can you point to tangible news on any of these points 190 days on from when you originally posted this?

With regard to the Hammerhead Shark Field, the current Dommo Energia Administration,
established after the end of the Judicial Recovery process, has since
carried out studies and analyzes of the possible scenarios for the use of its assets, which will
result in a new business plan. Among the pillars of the scenarios considered are the
absence of financial leverage, the current capital structure, the significant amount of
tax credits of R $ 7.4 billion, and the estimated probable reserves (2P) of the
Hammer Shark Field of 78.5 MMbbls, according to independent certification report
prepared by D & M in July 2014, of which only 14.5 MMbbls were produced.
Once analyzed the possible scenarios, these pillars, among others, will allow the elaboration
of the new business plan, extending the production cycle of Tubarão Martelo Field and its
respective generation of cash, in addition to the current estimate that considers the production of oil
until the the end of 2019.

SOURCE: http://ri.ogpar.com.br/default_en.asp?idioma=0&conta=28#

Interesting! Maybe not as trustworthy but fascinating that there is potential meddling from elsewhere...

Latest Brazilian BB post:

"O fpso osx-3 na TM está sendo reimplantado devido ao fraco retorno sobre o investimento para detentores de títulos, temos uma nova instalação para esse campo?"

The fpso osx-3 in TM is being redeployed due to poor return on investment for bondholders, do we have a new facility for this field?

https://br.advfn.com/forum/dmmo3/18551708/1337

Came across this posted today (google translated) -

it is good to consider that since July the 7-TBMT-2HP well has been out of operation, and I am concerned about this issue of lack of information. we did not mention the well in question, they also withdrew the 3Q disclosure date, and as far as I know nothing has been reported yet, what we have are expectations that they should probably report the result later this week. I think most expect a very good result mainly because of the recent progression of the previous results, but if they start to take time to spread .. the staff will start to discourage even because most other companies finish the disclosures in these next weeks ..

and this leaves me a little annoyed with the Dommo .. nothing of information from there suddenly when the staff discourages and starts selling the staff comes in from out and takes the asset on top. manipulation in buying or selling is acceptable because we already know that as a rule everyone does this but manipulating holding information or dropping only when the interest of some there complicated. But I still bought it.

I have been away for a week or so - did I miss something here with regards to Mark, seems to have disappeared of the face of NUOG...

Wombat, some fair replies, still the point remains that there are 8 areas of revenue generation listed below yet none currently.

The word faith rather than fact comes to mind - it will be a lot easy for Minty if he focused on getting one over the line to ensure that the company can cover it's operating costs.

*suspension (rather than extension)

Being realistic and trying to balance out the conversation with what I view as the NUOG evangelists.

Yes there is potential.

Yes we could all be surprised with an any day extension and large re-rate.

But why offer the company protection for what is clearly a string of non-results, we need to be honest as shareholders with our current position and try not to ramp up the share price artificially with ifs and buts.

I appreciate that Mark is also trying to balance out the 'Minty is the devil' brigade but it doesn't help when trying to take a practical view of what we should be expect to see when identifying milestones of success.

1. Brazil (already producing field - hurdles to competition - finance that avoids dilution)

- "Avoids" not guarantees
- No industry news to back this up
- No positive share price reaction to this news

2. China facility details/plans (deployed on Brazil - improving the economics - increase flow rates and recoverable volume)

- What facility? This will take

3. North Sea - 2nd (?) Marginal Field deal

- What are they actually doing with Helvick and Dunmore now? Glowing endorsement of their abilities.

4. Garden Hills farm-in (additional partners? Drilling new well? Drilling rig dedicated to Newfoundland? Better equity deal? All for zero capital risk)

- GH in turmoil, current partner not pulling their weight, giving away equity with little return, drilling new well because old well not producing.

5. GH production flow test start (50% profit for zero capital risk- over 100 mmboe in place)

- The reason for not starting is because it is not profitable to produce at the likely rate of flow.

6. Garden Hills flow rates (already previously flowed at over 200 bopd without artificial lift and at a peak rate of 1360 bopd)

- Consistency of flow is more important than what was produced over a short period, this well has not been producing in years.

7. EL1070 update (5% gross override on 1.55 billion barrels - for zero capital risk)

- No news in years, not even the indication that this is going in any direction let alone a positive one.

8. Helvick and Dunmore lease extension (10% equity earned with another 40% available of 20 mmboe at 50%)

- Sat on their hands whilst the lease slowly expired, an extension is required to save any efforts.

9. Suspension ? (Failure of at least 3 AIM class tests

- As this requires a level of success I wouldn’t count on seeing a suspension for this reason unless we seem some fundamental finger out of £$%! Effort.