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SP action. Maybe the news is on the way.

If it is true, it is a pity. RC is on the cusp if success. Hopefully MDF update soon.

Hydrocarbons Mexico ‏@HCarbonsMex · 4m4 minutes ago After 2 years of energy reform inplementation, 27 new Mexican & international companies will carry out oil & gas E&P

It will be to do with the water cut. If you drain a well at SC too fast you end up with more water. There is a water drive that maintains the oil production. The oil needs to migrate to well, if you suck it out too fast the water moves in instead. There is no point in producing at a higher level if it results in a poor water/oil ratio. We only have so much SWD capacity and if it is being trucked out it costs money.

I did say they were over-egging it in that presentation of theirs. Lets hope NCT can now squeeze a good deal out of them. The earlier deal with RRR and GCW were done on terms that weren't particularly attractive to NCT. Carrying us for the cost of the workovers and required field works would be a good start.

The sad thing on that update is that those cheap easy workovers and reconnections could have been done last year. Obviously, they wouldn't look so good with a lower oil price and a lower gas price but they could have been done. Lets hope they get on with the rest of the work on the field asap.

Happy with that. I am glad they have looked at turning on the production that was sitting there waiting to be had. The cost involved will be minimal. Looks like they see the gas as a big opportunity.

Happy with that. I am glad they have looked at turning on the production that was sitting there waiting to be had. The cost involved will be minimal. Looks like they see the gas as a big opportunity.

Not relevant: it is the 3% level at the time the shares were bought that matters.

Up 5% 😎

Sener has granted 304 licenses in 3 months to import gasoline, jet fuel, diesel and LPG to various companies. https://t.co/qZDpkbflbY

I suspect they are over-egging it by implying they are a partner in the whole of the SC acreage.

Another potential customer in business: Hydrocarbons Mexico ‏@HCarbonsMex · 2m2 minutes ago Sierra Oil & Gas will explore the blocks it won in Round One, as the CNH has approved the company's exploration plan http://ow.ly/oEIz3026O8T

All the action is by CFEP, jumping around all over the place. On both the bid and the sell now. Looks like the others don't want to plat at this price.

Hydrocarbons Mexico ‏@HCarbonsMex · 11m11 minutes ago Gas price has increased, new fuel distribution companies to use Pemex services, representing high logistics costs

NRI is lower and that is on $45 gross. Cost of production will be about $10 pb. I think the NRI is 14.4%. So $35 and 14.4% gives you about 90/91 bopd. Gas sales on top.

60 bopd would be good, 100 bopd would be great, 150 bopd would awesome.

Two sales of 10,000 gone through and the SP hasn't budged: an order being filled?

As I said CFEP were on the buy; they have just moved it up which means they weren't getting the shares they wanted. Looks like they might have an order to fill.

You need to have L2: you can see what price each MM is on and you can see how they move their prices. They are not all on the same price and don't all move at the same time. CFEP were on the sell and they came off and then went on the buy. Basically what it means is that they were carrying around £5,000 worth of stock and sold it all. So when and if the NCT SP starts to move it should move quickly because the MMs are not carrying stock. If buyers come in on news, they only way they can satisfy demand is by buying in the market. When that happens the price moves quickly. The exception to this would be if there is a large holder who wants to sell out a large position and tells the MMs they can have the stock at a certain price. Not likely at this level but who knows? DYOR