Member Info for Helpful

https://twitter.com/Amena__Bakr/status/1501081620304048135?t=AjHcoGWLRUjJ-vq_rzL9wA&s=19

Let me have your cashflow calculations mate.

PS sorry for your losses.

Looks like Steel got deleted again.

You never did send me your cashflow calculations. Any chance?

xx

https://twitter.com/Borg74/status/1501064854651744261?t=RsTrEorV4l_pyMB367anFg&s=19

I am sorry but I can't deal with this obtuseness any more.

NTOG has a WI of 32.5% in the Cypress Farmout Acreage which includes the original 80 acres, a further 80 acres that was signed up post Fouke #1 and I suspect but don't know further acreage that was either signed up prior to the Fouke #2 or will be post Fouke #2.

How do I know this? This is how Cypress works and why they keep everything close to their chest. The original 80 acres in the Cypress Farmout was part of NTOG's Pine Mills acreage, the additional acreage post Fouke was not part of NTOG's Pine Mills acreage and any additional acreage as a consequence of Fouke #2 will not be part of NTOG's Pine Mills acreage. So if you follow this the size of the Cypress Farmout acreage and the asset are gradually getting bigger.

NTOG retains its 100% WI in the remainder of the Pine Mills acreage. The 32.5% was made clear in the original Cypress Farmout RNS and subsequent ones. In the original Cypress Farmout RNS it stated that NTOG was carried for 25% in Fouke #1 and could farm back in to increase its position to 32.5% WI at its discretion (which it did).

Try reading stuff. This is why you Trolls don't understand anything, you don't read anything.

DYOR

ESP just like you and facts.

ps and the reason that the wells are called Fouke #n is that is the name for the lease given on the RRC website. So they could call the wells something else but normally what happens is that you use a name and then number the wells sequentially.

The PUD for the Cypress Farmout is given both gross and net. All in the RNS

https://www.londonstockexchange.com/news-article/NTOG/further-reserves-update/15179774

Did you not read it?

In the Reserves RNS it gives a table. https://www.londonstockexchange.com/news-article/NTOG/further-reserves-update/15179774

The reserves are split by asset(this is now an AIM requirement).

There is a category for East Texas Cypress Farmout and there is a separate category for East Texas Pine Mills. So the Cypress Farmout is reported as a separate asset. It gives the PUD as 403.20k barrels.

If you had read it, you would know this. The reserves for Fouke #1 is under PUP not PUD.

DYOR
QED

Either you don't read stuff or you don't understand what you read.

The Reserves RNS I linked to below specifically gives the PUD on the Cypress Farmout: it says a PUD of 403.20k barrels. PUD is Proved Undeveloped. If you know the average recoverable oil per well and you know the PUD, then you can work out how many wells are needed/can be drilled. In this case, ML has given interviews stating that another 3/4 wells can be drilled at the Cypress Farmout. Fouke #2 being one of the 3/4 wells. Are you trying to seriously arguing about the numbering system? Ie., that the next well at the Cypress Farmout will be Fouke #4 and not Fouke #3?

I don't know but I reckon that there is another five wells that can be drilled on the Cypress Farmout acreage.

Regardless Cypress should accelerate their plans for Fouke #3.

DYOR

https://twitter.com/RRR_RedRock/status/1500788557027360773?s=20&t=myhzbTXIdM5-4gPpZgihEw

It is all to do with comprehension:

1. https://www.londonstockexchange.com/news-article/NTOG/q4-production-and-operations-update/15339036
2. Plans for drilling in the Permian Basin this year are on track with the Company organizing tenders for the necessary equipment during the period. The Company plans to update the market with additional details of the anticipated drilling program in due course.
3. https://www.londonstockexchange.com/news-article/NTOG/2022-growth-plans/15274563
4. Progress has been made towards drilling new development wells in the same area. The Company now intends to drill 2-3 wells in the Permian Basin during 2022. Nostra Terra plans to own 90% or more WI in those wells.
5. Regardless of the PB drill plans, which are due any day now. NTOG should tell Cypress to get on with Fouke #3.
6. https://www.londonstockexchange.com/news-article/NTOG/further-reserves-update/15179774
7. Cypress PDP 183k barrels so Fouke #1 has 183k of recoverable.
8. Cypress Farmout PUD was 403.20k barrels ie., there are another 2/3 wells that can be drilled at the Cypress Farmout. That would be Fouke #3, Fouke #4 and Fouke #5.
9. Hence my comment that ML needs to tell Cypress to get on without Fouke #3. But regardless a drill in the Permian Basin would come first. Partly because NTOG is already on with the process and partly because Cypress take so long to get their ducks in a row.

So we are due news that Fouke #2 is hooked up and producing and then we are due news on the next Permian Basin drill which, in my view, will be in the next 4 weeks. Why 4 weeks partly to do with cashfow and the limit on the lending facility. If NTOG has 90% WI, it has to pick up 90% of the cost at least. So the next drill in the PB is a big chunk of cash for NTOG.

Simple enough for you now?

DYOR

Billy you really should have turned up for English Comprehension classes at school.

1. I said I had messaged ML this morning that he needs to tell Cypress to get on with Fouke #3. There has been no announcement on Fouke #3 because there is no permit on Fouke #3. This is the RRC page where the permit would show up if there were one. http://webapps2.rrc.texas.gov/EWA/drillingPermitsQueryAction.do;jsessionid=5VpkWTUkboubNFUXmQHe4E9_GW_b_vZTYyRXwDZwnKcxMVVuFvks!689391628
2. I then said that the speed at which Cypress work, it would probably take 6 months even if they rushed.
3. Therefore the Permian Basin would be next. I suggest you read the various RNSs, listen to the interviews and look at our assets. You may or may not come to the same conclusion.

And BTW

If I was ML I would look to sell Caballos Creek in this market and redeploy the monies elsewhere.

DYOR

The only granny I know is you.

As it happens, I messaged ML this morning saying he needs to tell Cypress to get on with Fouke #3. But the way Cypress operates, even if they rushed it would still take 6 months.

Permian Basin is the next well.

DYOR

Yawn. The insincerity just pours out of you Trolls. Is there no low you won't stoop to in your hatred for ML?

And you have a very good day. Come back to me when you work out the updated cashflow for NTOG.

xx

The rise is only marginally to do with Ukraine: Libya has dropped 300k a day and it is now acknowledged that Iran will struggle to add output.

The issue has been there for 18 months or more but masked by COVID. There has not been enough investment in oil & gas since 2014. Eventually that would come home to roost and it now has.

Hold on for $200 oil.

DYOR

You are the "intellect" around here: I am sure you can work it out.

Morning Trolls, any thoughts on NTOG's cashflow now? Got to look pretty good at $122.

Fouke #3 incoming?