Member Info for labrat99

Blingybird Yes good news but it is hardly a surprise. Pemex is currently the only meaningful company in Mexico, if they had not got work from them then the plant would have been an expensive white elephant. I will wait until we get an indication of the volume expected from this contract before I get overexcited. Plant still not commissioned.

Seen it before vague hints that can be used to create the illusion of knowing beforehand. Its great to see that the rumoured new CEO is already getting tainted with providing information for a select few before he has even taken up the role. That's a first for me.

Why can you not answer those questions very odd response. Nothing in those questions that could breach lse rules. Why would his oil experience not be able to be posted on a public board. Why would his experience in running listed companies not be able to posted on a public board.

I have asked questions which you seem reluctant to answer. Heavyweight has been banded around, cv does not fit this. Repeated again What is the largest turnover of the rumoured incoming CEOs current companies? What is his most significant oil experience? Experience running listed companies?

A few months ago when I first stated that RC required removing was meet with typical abuse badly researched etc. Now it is the best thing since sliced bread and the greatest CEO is coming in with an impressive secret cv that has only being disclosed to a select few, the businesses that he is currently running whilst respectable are fronts for a continent striding colossus who can hire you a skip as a side line. Questions avoided again.

Avoided all the questions. Have you contacted RC about the increased salaries? What is the largest turnover of the rumoured incoming CEOs current companies? What is his most significant oil experience? Experience running listed companies? A poster that has championed the heavyweight credentials of the rumoured CEO would surely be willing to share these details with the board and provide some meat on the bones.

Avoided all the questions. Have you contacted RC about the increased salaries? What is the largest turnover of the rumoured incoming CEOs current companies? What is his most significant oil experience? Experience running listed companies? How will I find evidence of the cross border deal if it is not reported anywhere and cover by a confidential agreement, which by the way someone must have breached to inform you, so that does not bode well. RC had connections did not do much for shareholders though did it, ditto AA delivered nothing of note despite all those connections. I am waiting to see what becomes of the remediation plant and the fiscal terms for the operation for this and hopefully a recovery in the oil price which might help me recover some of my losses.

Cost cutting only 18 months to late, what has RC had to say on that as a LTH you have surely expressed your displeasure at the directors salaries? As have said before the cv is hardly inspiring, very limited oil experience with tiny fields and operating small skip hire companies around Texas. What is the largest market cap or turnover of these companies. No experience of running listed companies. All in all the proven capabilities are uninspiring imo.

Good post, you would expect LTH to be up in arms with a company increasing director salaries in a period where oil prices were tumbling and the companies daily production was decreasing. Directors sucking $800k a year out of the company in salaries does wonders for their bank accounts, but does nothing for shareholders. Not to worry though the bin man is coming in to reduce the wasteful spending.

Yesterdays RNS contained a statement that up to $450k worth of work was underway at SC and unlike on previous occasions the company neglected to say that their proportion was fully funded. Add to this the increase activity of ramping posts including the twitter ramper who was predicting tidal waves of news just before the last placing and is now predicting rocket fuel. I would suggest that people be very careful. From a current shareholder whom has experienced the repeated placing's by the company and the posting activity of certain posters is following a similar pattern to those previous occasions.

Unless SCDI own a percentage stake in SC then yes they have no say. They are the operator and do what the owners contract them to do. It is not cast in stone, but equally NCT have no control over the decision. They have a say but if the other partners decide to proceed then they have to comply, it is how a partnership works. They cannot take the risk of spending the cash only to find it is needed, there maybe some restriction in place already as part of the contract. NCT funded the installation of the storage tanks and infrastructure for the oil, which GCW and RRR are currently using cost free as far as I am aware, so why not a similar scenario for the gas? Q1 If GCW and RRR want lm20/lm21/lm22 hooked up then they need to cover their portion of the costs so it is not worth a lot as helpful claims Q2 LM14 is being overegged, what are the production costs, decline rates of the gas etc. Think I will stick with my decision to filter.

The cash for lm21/lm22 is ring fenced, if GCW and RRR go ahead with these NCT will be outvoted and have to stump up the cash, they have no control over when these wells are drilled. Helpful is filtered, got tired of the MXO warrants every time MXO increases by 1%.

Revise my estimated cash shortfall up to £500k from £300k in light of yesterdays announcement of the cost of gas lines and longer than expect lag in getting the gas to market. Would expect any raise to be before the new rumoured directors take charge as they will not want to be associated with the placements of current management. A sale of part of SC to GCW is also a possibility but considering the last deal they may not be as keen to proceed.

Same views are repeated endlessly on here but only MrMagics posts receive complaints. The fact that they are negative has nothing to do with it though, positive views repeated several times receive no complaints.

No confusion market does not like frothy figures that neglects to include production costs and brushes over the $450000 to install the gas lines.

Good to see they have got the recoverable oil and gas numbers out at last. As usual most of the pertinent information is missing and the usual misleading headline figures are used. What are the production costs for the gas? Vague customary charges, what are these? $450000 to install the gas lines, how is this to funded? What is the lifespan of the well? How much are each of these 5 additional zones going to cost to perforate is it $80k each time?

Still committed to drilling lm21 and lm22 clearly stated in the last RNS.

I have seen the dots (they have been repeated enough times) and not really that impressed tbh. Not exactly industry heavyweights and as SCDI has demonstrated they do not appear to be any better than RC at hitting deadlines, lm21 over two months past the announced timetable. Probably going to result in a hefty severance package for RC and bloated salaries for the incoming directors followed by a fund raise to implement the new direction.

These are the kind of details they need to start including. Have they installed gas processing equipment either rented or bought or are they receiving a discount to the rate for unprocessed gas. Far to much guess work required for simple things that should be clarified in the relevant RNS.

Is the infrastructure in place to convert the gas into the required quality to inject into the pipeline. Do not recall any mention of this or is the gas injected in its natural state and processed elsewhere?