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As noted before, you have issues with reading and comprehension.

As I said, it is better for the warrants to get exercised than the company to do a placing. The costs to the company of receiving monies from a warrant exercise is much less than the costs of doing a fund raise.

Work out the numbers for yourself.

It is cheaper for the company that the 0.6p warrants get exercised than do a fund raise.

There are lots of the 0.35p warrants outstanding (I know where they all are): if the SP is so sensitive to the outstanding warrants why is it knocking on the door of 0.7p heading to 0.8p?

I had lots of warrants in HE1 2.84p; the SP went to 26p. The warrants didn't much difference in that case. I had warrants in BLOE at 4p; the SP went to 17p. Again, in that case it didn't make much difference. The same applies in loads of other instances. Same in Advance but I didn't take the money in that case. Same with Tirupati, same with CMET and so on. If the argument held that the warrants restrict the SP everyone would know that and it would mean the warrants are in effect worthless.

At the end of the day the SP gets driven by fundamentals. If there is a mis-match in the SP and the fundamentals eventually someone takes action because there is an arb opportunity.

I hope all the warrants get exercised.

DYOR

As I said issues with reading and comprehension.

0.65p and 0.7p is not 0.6p.

The 0.65p was a year or so ago and the 0.7p was for 4mil 0.35p warrant shares two weeks ago. I realise I could have gotten higher but 0.7p was good enough. That doesn't equate to traded out, dumped them or whatever you want to label it.

The main reason people lose money is because they don't understand what they are doing. You can only sell shares if others are willing to buy them. I could have sold some at 0.8p the other day but the market was too thin.

I will wait on this going higher before trading any more. As to faith, if you have that you should go to church or temple or whatever. This is about making money and to do that you have to analyse correctly.

You lot don't analyse because you are consumed by emotion. If you calm down and do some analysis you will be able to work out that pre-capex, NTOG's FCF is about $300k pm at around $100 a barrel. That is post Fouke#2 and pre GE#1.

Currently, WTI is $113.20. So NTOG is probably selling at around $110 and its lift costs at Fouke are less than $10 a barrel. Put that into the calculations along with the projections that oil is heading to $120/$150 a barrel.

Post GE#1, assuming we get 60 bopd, then the FCF goes to about $400kpm. That would mean that NTOG can pick up its share of a new Cypress well every month or it could pick up the cost of a new GE well every 2 months. That doesn't take into account the Washington Federal facility, plus the warrant exercises and the proceeds of selling any non-core assets.

Bottom line is NTOG can probably fund another 3/4 wells this year without coming to the market.

If things work out okay, ie., the new wells successfully drilled and WTI higher, NTOG could be $600k/$1mil pm FCF by year end.

I am still of the view that NTOG is a bid target. The more FCF is puts in place, the more likely something will happen.

And I expect NTOG to hedge some production once WTI goes over $115. Two weeks ago it was possible to hedge for $100 for the rest of this year.

I have been telling you for a while what would happen and you have just trolled instead of analysing.

Anyway, good luck with your trolling. I hope it makes you feel all warm and cuddly inside.

DYOR

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