Member Info for Helpful

https://www-fool-ca.cdn.ampproject.org/c/s/www.fool.ca/2021/03/13/take-pointers-from-warren-buffett-the-oil-bet-is-paying-off/amp/#

Unlike most on here you are financially astute and financially educated. If you read the RNSs and the accounts, it is quite clear where the money has gone. RRR had to make stage payments to Kansai for the Migori transaction.

I have said to you multiple times. We need evolution not revolution. The board was changed at the AGM and I expect it will change more in due course.

Now is not the time to cause unnecessary problems, if you feel differently that is fine.

We need the exploration programme in Mikei kicking off, we need the update on Luanshimba, we need news on the RRAL listing and confirmation that Juno is back on track. I expect we will get a result on Adidi Kanga and we are due a new license in DRC.

FYI re Juno

https://www.pinsentmasons.com/out-law/guides/australias-foreign-investment-regime#:~:text=Foreign%20investments%20in%20Australia%20are,Investment%20Review%20Board%20(FIRB).

I wouldn't be surprised to hear that ABP don't know their rear end from their elbow on this matter. I have had someone look at it and his view is that ABP do in fact not know their rear end from their elbow.

Lets see.

DYOR

https://miningmaven.com/company-news/60-african-battery-metals/1116-power-metal-pushes-global-exploration-portfolio-forward-at-pace-pow

https://www.mining.com/copper-price-up-as-chinese-imports-surge/

You resigned as a director in May 2009. The tshipi deal with Pallinghurst was done 14 months later.

https://www.proactiveinvestors.com.au/companies/amp/news/137535

1. No one knows when at the moment. All avenues need to be explored. I have given them a couple of ideas.
2. This one is not a AB's door. Priyank and the CEO have been driving it.
3. The pension fund doesn't want the iron ore assets developed.
4. The shareholders voted for the spin-out and that is what will happen, one way or another.

DYOR

Not off but rather halted. This will get sorted.

No comments on Aim Stocks Guru's insights into your hero?

They are working on it.

The issue is RTZ and the aboriginal caves they blew up. The pension fund is big on ESG and doesn't want to be associated in any way.

DYOR

$67.40

Aim Stocks Guru on YouTube.

https://twitter.com/BurggrabenH/status/1368530215329296389?s=19

Nobody important.

I just read the stuff that is out there, remember it and put it together from time to time.

I was mentioning the iron ore assets just under two years ago. It has taken this long for progress to be made. 11th March is a big day.

RRR has other ignored assets that will do well in due course. I expect that RRR will do very well out of POW in due course.

DYOR

https://www.lse.co.uk/rns/NTOG/acquisition-of-producing-assets-issue-of-shares-s25xn8xhid462k9.html

As at 30 June 2020, NSAI estimated proved remaining reserves of 92,100 boe gross, 69,300 boe net.

https://netherlandsewell.com/ Worldwide Petroleum Engineers but you know better.....

· Independently assessed PV10 US$1,052,300 for proved reserves

https://www.lse.co.uk/rns/NTOG/more-than-threefold-increase-in-reserves-5qnu30oaa496yat.html

Net Present Value at 9% discount ("NPV9") estimated at US$23.93 million

Nostra Terra has updated its annual reserves, using a third-party engineer APN Energy ("APN"), effective 1 Jan 2019.

http://apnenergy.com/

APN Energy Consultants offers unmatched consulting for a wide range of services in the oil and gas industry

So we have the existing stuff at Pine Mills & Permian Basin, plus Caballos Creek and the new stuff at Pine Mills on the farm in acreage and the new farm in acreage. It should result in a substantial uplift in reserves and NPV.

DYOR

That NPV calculation didn't include Caballos Creek, the Permian Basin Farm in or the Cypress farm in or the extra acreage in the farm in. It is likely that the NPV now will be a fair bit higher even without the higher oil price.

DYOR

He did an interview a couple of months back talking about JMS. He was saying that RRR had a strategic interest in JMS because of the iron ore assets being spun out of JMS (Juno Minerals Ltd 11/03/2021) and that once they had gone it made less sense for him to be a director. He also flagged up that JMS was at a large discount to its true value and that either the value would rise or a bid would come in. Either way, he is flagging up an exit from JMS for him and RRR.

Once the JML spin out is complete on 11/03/2021, it brings closer us monetising the iron ore royalties.

DYOR

The small resource companies sector is off a bit and gold is off a bit.

https://twitter.com/pauljohnson9691/status/1367754290664718338?s=20

https://www.lse.co.uk/rns/RRR/kansai-completion-of-purchase-oefz6bk6g15lboo.html

"Kansai has agreed to sell 52,437,048 Shares to be issued under the Share Payment to a number of substantial private investors"

How do you know that existing large shareholders haven't taken shares? No TR1s are due yet.

DYOR

Turnover of a small petrol station:

1. An old statement, out of date then and more out of date now.
2. Related to when NTOG had shut in some production at PM
3. Production back online in the higher price environment
4. Cypress well online

Cashflow positive at $40 pre Cypress coming online. Lifting cost at Cypress <$10 per barrel. With $64 oil and production around 130bopd, NTOG is cashflow positive by about $140kpm.

Small petrol stations don't make $140kpm. When the next drill comes up with Cypress the likely cost will be about $600k (the road is in plus all of the topside kit): NTOG's share will be 32.5% x $600k = $195k. Ie., the drill can be funded out of cashflow.

DYOR

Keep up:

Application to remove production limit on the Cypress well
EUR for the Cypress well and the PUDS
Reserves report
Update the new acreage and PUDS
Renewal of the RBL with the new caps post Cypress and Caballos
Any new deals/workover programme at Caballos Creek/Permian Basin/farm ins at Pine Mills.

Lots happening, as the company has said plus the possibility of a larger deal.

WTI $64.70 NTOG making good money.

DYOR

https://twitter.com/WorldCopperLtd/status/1367553903538102278?s=19