Member Info for Helpful

https://twitter.com/A_Milewski/status/1329420470731550721?s=20

The reason for the 3 yr EWT is to hopefully accommodate a planning permission recommendation. ANGS thinks it more likely that they will get a 3 year EWT rather than an open ended one. The plan is do the same as UKOG: put the well on EWT whilst negotiating a production license.

https://twitter.com/proactive_UK/status/1329089502489395204?s=20

You have said the same for the last 10 years regardless of what the news is.

Kansai we knew about.

The need to update JORC we knew about. He has prefaced that in previous comments. It maybe that we need the updated JORC to procure partners or for project finance.

The Riverfort facility I think was previously undeclared: it is an existing one and he has drawn against it. He has cash from the recent placing: he should be clearing the facility from the placing proceeds.

DYOR

Ok I will pretend you are a serious poster.

Caballos Creek was bought with debt but it was cashflow positive day one. The debt servicing cost on that facility is greater than the Washington facility plus it is a short term facility. The Caballos debt will be moved to the Washington facility in due course.

Increasing the size of the facility means that NTOG doesn't have to use it but it has the headroom to do more such deals. Acquiring assets now on low valuations that are cashflow positive day one is good business. NTOG gets a double whammy and a potential third whammy.

DYOR

Nearly but not quite.

Steve Staley's background is not small scale workovers of North American oil & gas assets. It looks to me that the plan is to get being cashflow positive and then get things going properly.

Have a listen to his interview. I like small scale US oil & gas: I expect come January NTOG will be doing quite well: Pine Mills should done and online; we should know the result of the first Caballos Creek work programme and we should know the results of the first work programme in the Permian Basin. If those three work out then that should lead to an increase in daily production, an increase in P1, an increase in PUDs and an increase in the facility with Washington Federal. There are no guarantees but it is looking pretty good.

DYOR

Well if you do what Mr T would have you do, ie., do some reading and research you might know that Steve Staley was a director of Cove Energy and he is the chairman of NTOG. It is what is called a link.

Dr Staley was also at Upland Resources. If you listen to the recent interview with Doc H you will get the impression that SS wants to make NTOG into a larger company.

https://total-market-solutions.com/2020/10/22/nostra-terra-oil-gas-6/

DYOR

In case you don't know how to use Google..

https://en.wikipedia.org/wiki/Cove_Energy_plc

Look up Steve Staley and Cove Energy.

SP up 5% on no trades..

Buy order in the background or news incoming on the RRAL license applications?

https://twitter.com/Blsellhigh/status/1328182743310581761?s=19

Try facts Tragic: three buys one after the other of 500,000 shares each: each one at higher prices and the last one well over the offer. Someone was in a rush.

Try facts Tragic: three buys one after the other of 500,000 shares each: each one at higher prices and the last one well over the offer. Someone was in a rush.

It looks like we have a buyer in town.

Yes. Lets see if it is reflected in the share price.

This is why people like you lose money. Shell has a different cost structure to NTOG. Nonetheless Shell's sp will be rising.

WTI up nicely over the last two days.

DYOR

Do you want me to go back find where you posted that they would never drill a well and repost it for you?

Briarbank, the man who sold around 0.4p thinking it was going down...

"I cannot see how.." Of course you can't because you choose not to:

Kenya has a value: the deal RRR did with Kansai values it at over £10mil. RRR's 75% was in its books at around £7mil back in 2014. The RRAL license applications have a value as has been shown elsewhere. Both PJ and AB have said that RRAL has had multiple approaches and will be discussing pre-IPO funding and possible JVs.

It is not surprising you called it wrong here.

DYOR

The reasons why this is a big value inflection point are as below:

1. One part of the application process relates to whether the applicant is fit and proper plus does it have adequate resources to do something useful with the license(s). Having got the first three issued that box is ticked for the rest of the applications.
2. Once the first three licenses are issued they can press on with the TSX listing and talk meaningfully with third parties about pre-IPO funding.
3. The issuance will likely suck in more parties interested in the pre-IPO and the IPO.
4. Any third party discussions about JVs, farm ins etc become more meaningful.

Hopefully we get the first three licenses issued this week. It looks to me that any TSX listing will be based on those first three licenses and the others will still be going through the application process when the listing happens.

DYOR