Member Info for FrankMini

Background for anyone not sure of H&D:

In November 2013, the Company agreed a phased farm-in in relation to the Helvick and Dunmore discoveries with MFDevCo, formerly known as ABT Oil and Gas, a UK based company who has proprietary technology for the deployment of low cost development solutions for marginal fields. As part of the farm-in, MFDevCo will assist the joint venture partners in the carrying out of a detailed phased work programme. In March 2016, the Minister awarded a separate Lease Undertaking for both the Helvick and Dunmore oil discoveries.The MFDevCo work programme will determine whether the discoveries can be developed commercially, through the use of MFDevCo’s innovative low-cost development technologies. If the joint venture partners determine that the discoveries can be developed commercially, MFDevCo will carry out the necessary work required to prepare and submit, to the Minister, an outline plan of development and an application for a Petroleum Lease in respect of each discovery.
Subject to the award of a Petroleum Lease by the Minister, the next phase of the work programme would then involve the preparation and submission of a formal plan of development to the Minister. Subject to completion of the work programme in full and Ministerial approval of the plan of development, MFDevCo will earn in aggregate a 50% working interest in the Helvick and Dunmore discoveries. The audited recoverable resource estimate for Helvick is c. 3 MMBO, whilst the joint ventures’ latest internal work indicates a STOIIP resource estimate for Dunmore of up to c. 17 MMBO. MFDevCO is continuing its work programme on Helvick and Dunmore and the Company is awaiting details on its Hook Head Lease Application.

Agreed, there always seems to be a distinct lack of info on this one - "continuing its work programme" sounds like a nice way of saying 'no progress'.

Maybe following their H2018 release it would be an opportunity for Minty to update us on activity.

Quick update for anyone interested as PVR have released their half year results - link below.

http://inpublic.globenewswire.com/releaseDetails.faces?rId=2216937

Th only mention of us is under the 'other license activity' of this H2018 release it is written that:

Helvick/Dunmore, North Celtic Sea Basin (Lease Undertaking) - MFDevCO is continuing its work programme

Green Day - Wake Me Up When September Ends...

Probably more appropriate!

Here here Cobrakai1, let's hope we have the conclusion soon!

Bloody amazing work SB! Thanks for sharing.

QuestionTime I can never tell whether you are just in troll mode or not...

Cobrakai1 don't start rejecting these Brazilian posts, they seem to include some really in-depth and almost 'insider's type insight into what is happening over on the Brazilian side.

I am sure Mark would back me up if not for his new status.

Guiainvest.com and br.advfn.com

They both house BBs.

Also you may wish to look up the related company BBs for additional mention of NUOG.

I am getting the impression that you think I have some undisclosed motive behind sharing these BB discussions.

As these are from the DMMO3 BB then any mention of NUOG is going to be of interest.

There are some very experienced posters on that site with a huge depth of knowledge on DMMO3s past and current situation.

You seem to be a bit hung up on that Simon

What on an AIM BB is ever a confirmed fact, we are all in the dark here trying to figure out what is going on by sharing information - determining what is correct or incorrect is part of that process.

If you are worried about his feelings then remember that someone out there went to the effort of creating an entire twitter profile just to parody him!

Cobrakai1 I am not sure how long you have been around this BB but I have always walked a balanced and objective path (this extends to FrankTiny) - I am hoping some of the long termers can testify to that.

I have also posted the links to these conversations previously. And I am, if not on my mobile, posting verbatim (give or take google translation errors).

Through trawling I have managed to identify a few Brazilian BBs relating to what we believe to be MFDevCo's target field, for the benefit of NUOG investors I am taking time to relay back these messages. Some might be useful some might not be.

Additional an effective non-disclosure agreement was voted upon in relation to the sale of OSX-3 in order to prevent details hitting the market.

Then there was a disposal of shares which is deemed to be a big legal step forward.

All of the above is me paraphrasing discussions had late today on forums. I have been tracking those posting and it appears to be separate posters discussions so not driven by any one individual.

Sorry just saw all of this, the upshot was that there seemed to have been discussions from users not known to mention NUOG that now mention a timeframe and a prior conversation about keeping it under wraps.

Who knows though, I post what I see.

tabatinga

Dear, can someone tell you, what will be the percentage in the exchange of ogxp3 per dmmo3? thankful.

11 Sep 2018, 19:37

aerlin

When is this exchange going to take place?

11 Sep 2018, 20:15

tabatinga

There will be the exchange, but I do not know when and the percentage, so the question, whether it has been defined or in the future.

11 Sep 2018, 20:22

Interesting to know that Dommo is dragging it's heels recovering the pump at TM, apparently two months now without the Brazilian equivalent of an RNS.

Some people are questioning why they are bothering to even own the field if they are seeming to sit back whilst production is minimal.

Thought: Why invest anything in something you are not going to have shortly?

I suppose it depends on who has made the purchase, it might fall outside of what is technically material to 'NUOG' - if MFDevCo (Brazil) was to acquire assets would this ever officially need to come to light?

As someone pointed out recently, NUOG own 50% of MFDevCo so there is already some detachment.

Some further chatter from the same conversation:

Luiz, do you see these unfolding as negative? I have seen it in a positive way. Dommo continues as operator, NUOG now holds 10.51% of Dommo through the purchase of OSX 3. There is still the sale of the stake that was disclosed earlier this month, where I believe that MFDevCo itself has a position. Kisses

Matheus Rivotril (PRO)
Of course it's positive. NUOG as owner of OSX-3 (I believe the deal has already been made) and with capital to invest in drilling new wells to increase the extraction.

Translated from: https://www2.guiainvest.com.br/h/NUOG?sigla=dmmo3

Luiz, OSX3 Leasing BV holds 10.51% of Dommo. When she said that NUOG would stop this participation, she did not feel she would control this percentage. And then I believe that Dommo continues as operator because basically MFDevCo has a stake in Dommo. The Settlement ShareCo LP is only an investment vehicle for the Bondholders, in which MFDevCo is inserted. In the end, MFDevCo is selling OSX-3, pocketing money, and will leave Dommo generating results without the need for additional investment or additional concerns. Nuog comes in with technology and the ability to exploit mature fields, Dmmo with Shell's contract and MFDevCo with FPSO. Kisses
Yesterday at 22:38 ·Like · Follow

Huge indications that OSX-3 FPSO is not required or actually wanted.

Of course that is if the Tubarão Martelo field is the opportunity in question.

Without 'hyping' I think we all share the dream that we wake up, rub our eyes, look to see an RNS informing us that a suspension is in place because of a huge new production contract.

It would enable us enough time to enjoy some positive BB conversations, plan a pub meet up to celebrate and ultimately the reward for our patience as long term investors.

Let us hope that day is not too far away.