Member Info for K3VMC

Oilboy2001

Best to ask II.

So many “bargains” around at the moment, but AGL stands out for pent up news flow and blue sky potential.

Just my opinion, of course.

Same strategy as Po Valley in Italy. They know where undeveloped resources lie. Wells that weren’t economical decades ago have been waiting for someone to come back and revive them.

Cheap workovers and low risk drilling

If they only work up 200 bopd, the mcap will be WAY north of the current £750k.

Please DYOR

JimCoote

“ Note that the share price is now lower that the resent issue price so what does this tell you?”

You can’t spell?

L2 looking good, so I think bounces from here.

DYOR

You have to know the history of the protagonists at Po Valley, to truly appreciate the potential of PXEN.

ART123

I think you may have comprehension problems.

I have disagreed with no-one, even yourself. You said you thought the new management was doing nothing different from the old management.

I simply explained the differences.

Anyway, the placing got away ok. I have no idea if you are, were or will be a holder. I just tried to help you.

:-))

ART123

I think a lot of posters are wise to your generic, “this stock is rubbish” posts, so probably ignore your message.

It’s all in the RNS. Read it again. If you have problems understanding specific points, I’m sure the board will help you out.

Funds raised at a bargain price, for new investors, but also priced to allow current holders to average down aggressively.

Plans to sell underperforming assets.

Plans to increase production 4-5x. Overheads being cut.

Not a lot to explain to you, other than that.

Billy101203

“ Remember every barrel of oil we produce we get into debt. Go figure that one out 1st please.”

I can’t understand that statement.

Ilovesushi

Looks to me like they sold about 100 bopd at a price of $73.38 in FY 2023.

If you don’t think they can get close to 4-5x production with simple makeovers, then getting back your money at .34p and switching stocks is a very compelling strategy.

Increased production will provide a cash platform for further development, so I’m thinking my money is the last placing in. Last money in makes most money out, imho.

INvestedInterest

“ I think the alternative was lost many years ago and this company has been kept going to pay the CEO wages if I'm honest”

We agree that there was no alternative and the CEO paid for his failure with his job, which is right and proper. If the new guy gets to just 200 bopd in the next 6-12 months, they can pay him double, from my pov.

I’m a new investor at 0.3p, so I either know nor care what the old ceo did. I’m looking at the assets and the probability that they will be successfully developed by the new ceo.

400-500 bopd swings in at around $11-$15m per annum v current mcap of £800k.

Plenty of upside to come.

Steeltitan60

“ The new guy is doing exactly the same”.

That’s not what the RNS is saying, or the June presentation.

They tell me the new guy is selling assets that have little strategic value to NTOG and they have raised funds to develop their Pine Hills assets, which have the potential to produce 400-500 bopd, with straightforward workovers and some infill drilling.

In much the same way as Po Valley has tapped into fields that were drilled by ENI, but weren’t commercially viable at the time, but now are worth exploiting, so NTOG has identified targets that can be worked up at low cost and low risk. I admit, it’s not as sexy as MSMN in terms of massive potential, but there is still a 9-10x differ between mcap and npv.

That’s a very decent risk reward ratio with a high cos. All imho.

Paul Welch has a decent cv. He bay come across as boring to some, but I prefer to call him competent and reliable.

“ Paul Welch, currently a non-executive director of the Company, will move to the role of CEO with immediate effect. Paul has extensive experience of working in the Texas oil and gas industry. Overall, he has more than 30 years of industry experience, having worked for Shell Oil Company for 15 years and for several large independents, including Hunt Oil Company and Pioneer Natural Resources. Paul was CEO of AIM-listed explorer Chariot Oil and Gas (2009-2012) and subsequently of Sea Dragon Energy and SDX Energy, the latter until 2019. He was appointed as CEO of Cosimo Holding Ltd in 2019. Paul was also appointed Chairman of Main Market ACP Energy PLC in 2022. He graduated from the Colorado School of Mines with bachelor's and master's degrees in petroleum engineering. He also holds an MBA in Finance from Southern Methodist University (SMU) in Dallas, Texas.”

INvestedInterest

“ This dilution is horrendous and less than half a million raised”

Agreed 100%. What, do you think, were the alternatives?

SteelTitan

“ NTOG hasn’t been anywhere near 3p for many years”

You are right. It was a Freudian slip. Need coffee.

Correct. I wasn’t a holder before. Yes, I’ll sell some and keep some, but I won’t be selling down here. This is cheap.

3p was the best they could do at the placing and I was very pleased to take it.

It’s a modest placing to pay for modest improvements that will bring increases in cash flow. That’s the best that can be expected for now, but that’s a measured and achievable objective.

GLA

Muck, tbh I should have done some dummy trades to see if they were buys.

As for the other, if £5m worth went to IIs, then we should expect to have at least one, and probably several TR1 notifications, so no need to speculate. The only thing I know 100%, is that individuals got 90% of shares applied for

Is there any logic in selling at 9.9xp, when three IIs took £5m of the placing and the other £22.5k went to the other placees?

There was about a 12% discount on the placing, which is amazing in the current market, so how can anyone expect flipping? Not only that, but a lot of the raise goes to buy a profitable business!

I got 90% of my order.

My guess is that all but 250k, went to IIs. Don’t expect any sales from the placing.