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If you had L2 you would be able to see the MM's movements. The movement has been caused by one MM (CFEP): obviously has no stock and sees a need to get some.

Interesting. Somebody thinks they know something.

The gas at SC is worth a lot now given that prices have risen. If they can find a way of hooking it up without spending too much money, it will be well worth doing.

As I said before work on 60 bopd plus some gas and an 80% success rate. It could be more and hopefully it is but who knows? Alta Loma also has behind the pipe assets waiting to be tapped. Ideally we want NCT to do a deal with Indigo and get them out of the Wilcox AMI. DYOR

Around 19.

I wasn't suggesting that you are one of these LTHs who hold for a whole afternoon. In two year NCT and UKOG will look very different.

I have UKOG and am very happy to hold. As here, some people think investing is staying in a share for a whole afternoon. If you are investing you need to take a view over a couple of years. I started buying too soon here and expected the MX stuff to get going quicker but we are nearly there.

Shore Capital and Cantor Fitzgerald are the ones moving around on not much. Looks like they are not carrying any stock. Spread now 10%: should cheer up Mr Jam Tomorrow.

Funny. I agree with Orslega, I agree that no one should trust anyone on the BBs. Always go and do your own research and make your own mind up. Anyone who invests because some "Joe Bloggs" on any BB says it is a good idea probably shouldn't be investing.

0.25 would be good. We could do with oil heading to $60. It seems to me that NCT has a lot more oil at SC than the old Aminex report indicated or people currently think.

Hydrocarbons Mexico ‏@HCarbonsMex · 1m1 minute ago Petrochemical companies had increased operating costs by 20% due to short supply from Pemex reduced NG production.

CNH only started signing the round 1.3 contracts in May. The companies concerned will be starting to look at what services they need to execute what they have promised and to service the assets they have taken on. With the next onshore round not too far away (news in July?) things are starting to kick off in MX. Pemex is no longer the only game in town. The JVs and migration of ISCs should be progressing soon as well. Suddenly, there will be a lot more oilfield activity in MX.

To continue .... The larger company has no experience of operating in Mexico and understands that connections and deals are very important in MX. As part of the discussions NCT gets them to sign a Non Disclosure Agreement and a Non Circumvention Agreement before disclosing anything significant. NCT subsequently outlines its connections, its business plans and the potential deals that are lined up. The larger company then comes to a view about what that is worth to them: NCT and the large company then enter into negotiations about who does what, who funds what and who gets what. Nothing unusual about it; the above is just a standard procedure. Either the negotiations are successfully concluded or not. If not then the larger company cannot used the information, business plan or connections disclosed to it as part of the process. Not concluding the deal effectively locks them out of a particular type of business deal in MX. Given the level of drilling in the US and demand for oilfield services most US companies would want to get into MX asap. I should think that NCT has been in negotiations with more than one such larger company. ideally, it would be a larger company who can afford to take a mid term view of the MX market and not need to pull out of after six months.IMHO DYOR

We still have 38 mil warrants in MXO. If you listen to the recent Panoro update and the SO update and mix the two, you get: 1. Aje could be 44k bopd 2. The gas at Aje is more than the oil 3. Ogo does extend into OML113 4. The Ogo extension is more than Aje (gas and oil) 5. There are multiple targets in OML13 (not just Aje and Ogo extension) 6. The CPR will be out over the Summer. MXO's share price is highly relevant to NCT: each penny over 2p is worth £300k on the first 30mil warrants. DYOR

In case you didn't know: 1. Where they are up to with SC, current production and when gas sales commence 2. Where they are up to with RP, contracts and start date for full operation 3. Whatever this JV is that they have got going on in MX 4. MXO coming out with the Aje/OML113 information 5. ADL updating on TOE2 and SIAK. Take your choice.

So someone buys £3k and we are up 12%: this is tight. When the news comes it should really move.

On the workovers and recompletions; work on a 60 bopd and some gas result result and maybe an 80% success rate; anything more is a bonus. There are, I think, 3 wells in the Wilcox that can be brought back on line without too much trouble and they were big producers. On the Wilcox the issue will be Indigo Minerals: ideally we would want to get them out of the picture, preferably for not much money. DYOR

Randy gave an interview, maybe a year/18 months ago in which he expanded on this. He stated that there was equipment in the US which 4/5 years ago was state of the art and very expensive which could be picked up for pretty much nothing. Technology had moved on and that type of equipment was now surplus. In the meantime the number of rigs drilling in the US has collapsed. Randy posited doing a deal to bring an oilfield services company into Mexico and bringing in the surplus US kit. He suggested numerous ways in which it could be structured: a JV, NCT could take a minority stake or it could just take fees. Just as he introduced MXO into MX; he was suggesting he could do the same or similar with oilfield services and oilfield equipment. The surplus kit in the US must be greater than 18 months ago and oilfield services companies would jump at a chance to do business in MX. The first companies have got their licenses and will soon be kicking off with their oilfield activities. Good timing for the RP supplying drilling mud and an oilfield services company. For instance MDF could make the drilling muds and the oilfield services company to could supply it to the oilfield operators. IMHO DYOR

You might find that the price of oil has something to do with it, the hiatus on drilling activity in Oklahoma because of the BIM has something to do with it and the MX reforms being about 18 months behind schedule has something to do with it. He has made mistakes but that is hindsight and the effect of his mistakes are smaller than the exogenous influences. A mistake was not getting stuck into the workover and hook up opportunities at Shoats Creek. I can see why he was reluctant, because at one point he would have really concerned about how low the oil price was going to go. Don't forget in Jan/Feb the so-called experts were calling sub $20 oil. We are now at $50 ish and staring at $60: that is a huge difference. IMHO

Indeed, I have a lot of MXO shares and fully anticipate them being well over 2p fairly shortly: obviously, I could be wrong. A few things are in the wind, the stabilised flow rates, the production to date (I understand between 10,000 and 12,000 bopd), the first offtake load should be in the next few weeks, extension of the license (which is what I think is holding up any announcements), the CPR (Panoro said over the Summer) and updated development plans (part of the negotiations with the Nigerian Government). The oil at Aje could be 44k bopd; the gas is worth more and the Ogo extension more than both the oil and gas at Aje. There are multiple targets in the OML113 license. With all of that information in the public domain by say end of September and oil heading to $60, MXO have got themselves a hell of an asset. Remember Jonny Hon thinks that the loss of the MX licenses was no big deal compare to what is at Aje. I expect that those warrants will be worth a lot and now NCT will be under no pressure to sell them once the cash flow from the Remediation Plant and SC starts to hit. DYOR