Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Read this in a well control publication, showing that high water cuts are normal and do not always equal end of commercial viability.
https://petrowiki.org/Controlling_excess_water_production
The present worldwide daily water production from oil wells averages roughly 3 BWPD per barrel of oil, although some wells produce significantly higher amounts. It costs money to lift water and then dispose of it. In a well producing oil with 80% water cut, the cost of handling water can double normal lifting costs. Yet, wells with water cuts in excess of 90% may still produce sufficient hydrocarbons to be economical (e.g., certain wells in the North Sea Shell Expro Brent fields and in the BP-Amoco Forties fields). Water control technology is intended to reduce the costs of producing water
Will NTOG follow this trend;
https://www.businessreport.com/newsletters/oil-and-gas-company-bankruptcies-rise-as-shale-investment-slows
API Data just out small draw but it is a draw.
US API Weekly Statistical Bulletin
Med Crude Stocks, Net Chg (Bbls) -1.4M
Low Gasoline Stocks, Net Chg (Bbls) -0.5M
Low Distillate Stocks, Net Chg (Bbls) +6.2M
What I don’t get is why Miton would have fell for a company like this, they must have researched the company before taking 10% at 2.4p.
I get the small army of PI’s being duped, but an institution??
Or is this a speculative gamble??
Tried to sell some of these (the day after investor presentation) to reduce overall holding but on four separate attempts could not sell more than a few hundred quids worth. Nobody wants to buy, demand nonexistent & nothing suggests it will change either.
Have Miton Grp also been duped by NTOG. 10% equity take up or £0.5m at 2.85p/share. Miton are now down 33%, would these guys not have some sort of stop loss on this type of investment or do they know something is going to change?
Maybe small fry to these guys but £160k loss should have them raising some concerns.
Does anyone know when surplus funds from the OO will be returned to account?
Surely the open offer will end up oversubscribed with eligible holders trying to acquire more than the 1/22 possible? Any comments on how this will be dealt with?
All quiet, RNS, here, twitter??
Is Matt working on closing a farm out deal?
Are PI's sitting quietly nervous, keeping their shares for a pay day? or not willing to sell at a loss?
Or is there nothing happening & shares are going to stay flat/gradually reduce?
Who knows, one thing for sure its quite boring.
Expected an operating loss but perhaps not that large.
Snooze now until December & may hear some news ref. new drills, Egypt, improved H2 results, acquisitions etc, etc.
Could be good top up opp.
Hold 900k of these in ISA & holding for multibag :)