Member Info for Helpful

See the RNS. Northcote Energy Limited is pleased to announce that it has completed a placing of 1,587,301,587 new ordinary shares of no par value each (the ‘Ordinary Shares’) in the capital of the Company at a placing price of 0.0315 pence (the ‘Placing Price’) per Ordinary Share (the ‘Placing Shares’) to raise gross proceeds of £500,000 (the ‘Placing’), which will be used to complete the Mayan Drilling Fluids remediation plant while retaining adequate working capital AND flexibility to consider other strategic opportunities available to the Company.

Well just been told something in the last few minutes, which if true, will be very interesting. Our negative friends might have some proper "rampers" to complain about shortly.

Not letting me buy even 1mil on a Spreadbet or a CFD. Something is up: looks like they have no stock.

If you are going to buy more you need to get your skates on. I bought 15mil yesterday and there were other largeish buys nothing to do with me and again this morning. Someone has decided to build a position.

Good news for the Remediation Plant.

Anyone know if we need a new production permit or if we can rely on the old one?

He needs to confirm it is on track to start trading mid/ late July as per the RNS, the services provided and the contracts signed. Preferably who the contracts are with: I said some time back there was no point getting remediation contracts with Pemex because their payment terms were 230 days plus. It seems the terms issue has been addressed nonetheless we need to know that MDF will get paid on the work it does. IMHO DYOR

I expect we will start to move up soon.

He is an idiot. Most of the symptoms he claims to have identified are not currently present. What ramp and what uplift in SP? The rampers are nowhere near NCT at the moment but I anticipate that sooner or later they will return. Try reading the RNSs: we have about 35 days to go on the Remediation Plant; we have LM19 results to come in shortly; we have LM21/22 news after LM19 is boxed off; we have news on MXO due that should put the warrants into the money and so on. On MXO if the flow rate confirmation doesn't do it the CPR should. Again, do your research and listen the Panoro Energy quarterly update from a few weeks ago and listen to SO's Podcast from a few days ago. They used some of my questions in the Podcast again. On Aje to make it clear for you: 1. Once fully completed they are expecting 44,000 barrels a day (10,000/14,000 bopd in this phase) 2. Panoro have said that the gas at Aje is worth more than the oil (ie the gas is equivalent to more than 44k BOEPD) 3. In the Podcast commenting on the Ogo extension (one of my questions) SO stated that there is no doubt that that it extends into OML113 and that the extension is bigger than the Aje discovery. 4. There are other targets in block OML113. 5. The warrants are worth £300k to NCT for every 1p over 2p. You work out what you think Aje/OML113 is worth (you might want to confer with Jonny Hon for a second opinion) 6. So in OML113 MXO consortium has 44k bopd plus 44k + boepd plus 88k boped in Ogo. (yes I know there is Capex and yes it will take time etc but all gets reflected in the valuation) All of the OML113 information should in be in the public domain and confirmed by end of July. IMHO DYOR

Added 15 mil. I think we are nearly there. Hopefully this is the bottom.

Not contacted him.He has obviously got something on the go in MX. Don't know what it is but last year he was keen on bringing oilfield services and kit from the US into MX. Under current circumstances there must be lots of UZ operators who would want an 'in' to MX. I still like the gas to power gig: I see UKOG are talking about it in the UK. Seems like an idea whose time has come. IMHO

Is me. Must be mad.

Some issues that might arise. http://www.drillingformulas.com/know-about-swabbing-and-well-control/

You may have missed this: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=NCT&ArticleCode=8jqkt25t&ArticleHeadline=Shoats_Creek_Update

The LM19 RNS might get delayed a bit: The decision to undertake this initiative was made due to the potential to add meaningful reserves and production at low cost. Initial results from this initiative are expected in the near term. "A successful recompletion will potentially add several drilling locations to the inventory of viable Frio drilling locations at the Shoats Creek Field." (This is the important bit. If they want to RNS that then the NOMAD will want evidence. IMHO this bit is by far the most important. Each new drill target is circa 100 - 250 bopd and EUR 120k - 200k. Several: more than three? Four/five we are talking 800k - 1mil barrels, that is a lot for NCT. It would mean that there really is a lot more oil at SC than the 2014 Aminex indicated). Northcote will have a 20% working interest (‘WI’) and 14.4% net revenue interest (‘NRI’) in the well. The squeeze (cement job to isolate the Frio formation) is complete and the operator intends to perforate and swab the well this week. (If this bit is true and it has worked then the well is probably already producing. The swabbing is not a big deal. I have posted previous links on swabbing) Updates as to the economic viability and sustainable production rates from the well will be forthcoming in due course. (Sustainable; they might wait a few days for the well to settle down as per LM20. In that case they had issues about getting the well to produce reliability with a decent water cut). If the recompletion at LM19 works out okay, I would prefer them to do the other workovers before drilling LM21/LM20 or least do them at the same time. IMHO DYOR

Taken a small position for a trade when it starts to get jiggy with it.

Looks to me like Brooks McDonald need to get their finger out and make a bid. Interesting company FCFM Group. http://fcfmgroup.com/pdfs/Fcfundmanagers-AR(Year-End-March-2015).pdf

Bought a little first thing.

Not bad, new business acquisition not as good as expected.

Looks like it was a Share Hub tip.