Member Info for Helpful

https://uk.advfn.com/newspaper/tom-frew/21910/northcote-energy-to-drill-first-horizontal-well

You need to read the RNS re the legal settlement for Migori and the Kenyan Mining Act 2016.

Sorry but Greg is right.

Byle has oil sands in Alabama too.

*start of the year

This was foreshadowed at the static the year.

https://www.bloomberg.com/news/articles/2019-08-02/as-shale-drillers-stumble-big-oil-says-it-can-do-permian-better

At the bottom end, which is too small for the big boys, there are still lots of opportunities. I had a chat with Rob Bensh at the start of the year and he was quite clear that there was a market opportunity to pick up smaller assets, package them into larger units and sell them on. That opportunity is still there.

DYOR

Not sure that is correct: no incremental revenue, we still still have an amount outstanding so we can convert it into a participation right. We get revenue from the participation right, not a huge amount but it is still there

https://www.lcia.org/Frequently_Asked_Questions.aspx#26.

26. Is the final outcome of an arbitration made public?
No. LCIA arbitration is a private process, and the LCIA Arbitration Rules have strict confidentiality obligations, which apply to the parties, the arbitrators, and the LCIA itself. Unless all parties agree, any documents relating to the arbitration, the award, and the outcome will not be made public.
Sometimes, the outcome of an arbitration is made public where a party is required to make certain information public (for example, because it is a publicly listed company) or where a winning party needs to go to a court to force the losing party to comply with the award. However, if a party goes to court they can often ask to keep things confidential, and the court will usually cooperate.

NB Tragic has spent the best part of two years whinging about JMS, variously; it was worth nothing, wasn't going to list, AB was going to lose the company's money by not selling, that it had fallen in price was an indication that AB poor judgement. What will the complaint be now? Price is in excess of the listing price, rising and it is still delivering good dividends.
At the moment it looks like the price will keep rising, as will the dividend. All in all very satisfactory.

Nice update on JMS.

I have you on filter because I don't like your snark but I have just logged out to check the current snark directed elsewhere.

Overall, your comments agree with me. The issue here has never been the business plan but delivery: you now say that you expect TB to deliver, so do I. The big issue is what does he have work with? How good or bad are those assets? What is the PUD, PDNP and so on.

Previously, we had people saying they were delivering and they weren't: remember LM20? The gas gathering network?

With PA in place I am happy that what is put out is pretty accurate. We need to see what the next move is.

PS You are back on filter so I probably won't respond but the other stuff was amusing.

PPS I didn't give Woodford a single penny. With regards to research did you know that we possibly have the Eagleford Shale?

Why do I have to keep covering the same ground?

He has been CEO less than a year. Prior to that it was EG and prior to that RC

In the time he has been CEO he has done okay. He has done what was required, which was sort out where the company was up to, establish its assets and liabilities, paid off the debtors and stopped people trying to nick the company's assets. In my view that could have been done quicker. The Attis deal was CW's deal and I am happy with that. We now have a company which has decent assets, an operational capability, cashflow and a forward plan.

In due course, CW will likely move aside If you have a deal you would like to reverse into Attis or a superstar CEO, I am all ears. If CW could leave the company in good hands, I am fairly sure he would move sooner rather than later. Some of the people posting on here do not have the company's best interest at heart, they would destroy Attis to get at CW

Question yourself, why don't you point the finger at EG or RC?

DYOR

Tier, I will explain this so you understand. I am not keeping CW or anyone else in a job. It is very flattering but I am not a magician: do the numbers. How many Mayan shares were issued to the Attis shareholders as part of the deal? Look at the large shareholder list. I speak for maybe 13% tops. Some others will listen to me which maybe takes it to 28%/30% but all these people make their own decisions. CW will be in place until such as the Board make other arrangements or the former Attis shareholders get upset: not likely in the short term.

So when you say everyone wants rid it is not true. A few people on here who have an agenda and want to personalise it just as they did last year want rid but they don't have the votes.

My view is that CW will have stood down by the end of next March because it is the right thing to do and the succession is in place.

The company is doing okay, it is important that the board is left alone to get on with it and take the next steps.

https://www.shaleexperts.com/plays/eagle-ford-shale/county/wilson-county-tx

If you care to read my posts you will see that I have been big on a few things in recent weeks; behind the pipe, proved undeveloped, new unperforated intervals and new drills.

If you go a look at the various reports/RNSs/Interviews that have come out on Austin, ZR and Mattis one recurring theme has been that there are other resources in the assets. However, although that has been alluded to, hinted at, speculated about we have never had a document that firms up on it. As a shareholder I want them to squeeze every single last cent out of the existing assets before they go acquiring other assets and/or doing a fund raise. In my view if they properly exploit the existing assets then they don't need to raise funds for more assets: they can fund the new assets themselves.

Doing light workovers on the existing assets will only take them so far: I can't see them get revenue much beyond $320k pm (not profits, revenue) even assuming that they workover all the wells and everything goes well. To increase the income further they are going to have to perforate known BHP, perforate new intervals (ie., previously not known) and/or do new drills.

The best one to do new drills at is Austin. What I would like them to do is see if they can refrack one of the existing wells at Austin and at the same time see if they can fund a couple of new horizontal wells via the US PI market.

I have told the company exactly the same. If were me, I would do what I could to maximise the production out of Austin and then sell it. I am not a director and I am not making the decisions. What I suspect that they are doing is firming up on what they can and cannot do with these assets.

Read the RNSs re Morris 1 and new intervals: was that all true or just fantasy? Lower Anacacho, Upper Anacacho, the Upper and Lower Escondido Sands https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AOGL/13619122.html possibly other intervals...
All courtesy of your mate Eddie: was any of that true? What other intervals are there at Austin?

How about it has all turned out to be more complex than they thought and they need further advice on optimising it all? It may turn out that we can only go so far we the existing wells but that there is enough upside in the existing assets so we don't need new ones: I don't know and I would like it confirmed once and for all.

This may hurt a bit but do we have the Eagle Ford Shale or Marble Falls at Austin.... https://eaglefordshale.com/counties/wilson-county-tx

Lets see if you can spot our wells on that map. The reason I take a different point of view from most people is that I do unlimited amounts of research, non-stop on all the companies I am interested in and their assets..

DYOR

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/POW/14173294.html

And you don't think that I have exhaustively discussed all the various options?

We don't need any disruption at this time. Someone has an agenda, which is why this has suddenly blown up: they actively want to cause disruption.

I don't know but as I said yesterday I think the reserves report will be fine when it comes out.

I think we met at the AGM last year.

Your post is an example of the schizo nonsense that gets posted: CW is a wrong un but PA and TB are wonderful!

The three of them run the company together. PA is a US oil & gas lawyer and TB has just reversed his business in but for some reason they are going to put up with dodgy dealings from CW and at the same time they are wonderful?

You have been misled. The only time I have been offered money to do something untoward related to an attempt to nick this company for nothing last year. I filed a Bribery Act report, lodged it with my compliance director and copied the company.

I was offered one third of a company, I know where another one third was going but it was vague on the last third though I have a pretty good idea. I have all the emails and records.

Orslega was getting similar but different offers. We compared notes at the time to keep up to date with the plot(s).

There are some seriously unpleasant types around, unfortunately.

DYOR

My hands are clean. I am more than happy to speak to you.

Admin, how long are you going to put up with this nonsense from a small group of linked accounts?