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Sharelock
....... and very good thoughts if I may say so!!!
I'm about to go into a meeting with our Accountants but must just take this second or two to say how impressed I am with your logic!
As they say: "You've got to be in it to win it" ........ innit??????
LT - thinking of rounding up to 73 or 74 million if I can shuffle my SIPP around a bit!!!
Seamonkeys
Good thread - he has indeed shown himself to be an idiot as well as a troll ..... and not a very good one at that!!!!
LT
Seadog Reading this in a pub after a couple of “shants” so I’ll be brief and just say that I agree with your post. SBP blows ever which way - I don’t!!!!! LT
On a more philosophical note, I find myself at my office in West London having driven up yesterday to welcome into this world my brand new grand-daughter who was born yesterday at 10:10 looking absolutely beautiful as did my wife's daughter who just looked like she'd come in to visit herself from a morning's stroll in the park!
My girls, known colloquially as "Charlie's Angels" were pondering this new life and its meaning when I mused, mirroring our great leaderine(!!??), that the "best is yet to come" and even at my grand age I could never accept that my best was behind me.
This brought instantly to mind one thought amongst the many, that in the matter of my finances I truly believe that the best is indeed yet to come with SB all but shouting from the rooftops that a deal is about to be done, offshore Brazil with existing production and a huge bit of kit booked in China that will blow the bloody doors off!!!!
I also believe that if our NOMAD deigns to read this Board they should perhaps accept that it might just serve their own regulatory interest to accept that what has already occurred might well need to be FORMALLY promulgated to shareholders and get their wretched fingers out for delivery of same on Monday .......... pronto, or as my Indian mates say: "Jaldi, jaldi !!!!!!!!!!!
Meanwhile ................ https://www.youtube.com/watch?v=wUxxFBCuPP4
Have a good 'un eh????
LT
Could this be the same kind of random coincidence as me having a Vindaloo last night and finding my usual laid-back stroll to the loo becoming slightly more urgent this morning???
Cause and effect I call it or I guess you could say: "cause and affect" in the vindaloo scenario but on the serious and non-scatological theme of the increasing depth and intensity of SB's tweets methinks that AM has advised him to release the dogs and bloody well done I say ........... that said, excuse me as I must run!!!!!!
LT
Tary - I meant it in the context that a lot of people had concluded that the NUOG folk at Manchester lived in a darkened cave where news only filtered in through the prism of their own captive room and thus gave them an introspective and somewhat one-sided view of their world which seadog's missive hit and broached like a Poseidon missile which methinks may have been fired by his good self in a previous life but keep that under your hats please!!!!!
LT - having a bit of a larf as we start to fire up!!!!
Anyone that says that is a load of "what's not's
Hi fellow NUOG'ers
After what I can only describe as a most voluminous tour de force, courtesy of old seadog himself, I can tell you that my sources tell me that it was very positively acknowledged, pre office-opening hours, by what has previously been seen by many to be Manchester's very own dark and dismal oubliette!!!
Now there's something for the pondlife to get their gills around!
LT
seadog
What a fantastically composed and comprehensive analysis of who and where NUOG are that totally eviscerates and banjaxes the pondlife that are slithering onto the Board.
Delster complains about being called out as such but these posters deservedly have that epithet attached to them as they are invariably "low or no holders" who just exist - rather like the fearsome dragon-fly larvae - to frit the life out of hard-working folk who have invested some of their hard-earned cash that these low-lifes want to nick by way of sowing doubt that moves the SP just enough for them to make their own parasitical living.
I might be many things to many people but I could not do that as how would I ever be able to look my family in the face if that was how I put bread on our family plate???
seadog, once again thanks for that brilliant post - I do hope you might send a copy to SB and AM and suggest that they pick just one or two items from it, on a rolling basis, that might form part of their "born again" comms policy!!!!
LT
SBP - the answer to your question is "YES" but it is still "IF" not "WHEN" but the convergence of what I am hearing is that it is probably now 90%+ on IF.
So, my financial perambulations on Wednesday were my own expression of the confidence I have in maxing out my personal debt to buy some "toys" whilst not wanting to liquidate any of my large portfolio.
Just to further put flesh on that - although I am nearly 69 (lovely number from the old days!!!) I still work, albeit part time, and my earning package which I have built up over 54 years in the system puts me in the top quartile of the Country's earners whilst my personal expenditure remains very much that of the "working boy made good" running to a few beers every night, copious curries and several holidays abroad each year.
Sometimes in life you just has to make that extra interpretation of what is there in your crystal ball(s) and this week was very much a well thought out but nevertheless "go for it" moment where I became instantly £45k better off (in debt!!!) but within a much greater portfolio where that kind of money is relatively small beer - lovely woody word don't you think????
Have a great weekend all - I'm off to show-off my new purchase to my boy in Swanage!!!!
Toodle pip!!!!
LT
Taxi - I am expecting at least a 300% increase in ALL my holdings in the short to medium term so why would I NOT borrow from my Bank at 6.9% or are you really that much of a colossal financial fool not to understand that logic which I have actually stated on many occasions?
Mmmmm - yes taxi - I sell £25k of shares which I am convinced will be worth over £100k in a couple of weeks/months to buy a car NOW at that £25k which means that I will be the proud owner of a car in a couple of weeks' time that actually has cost me £100k of my shares - idiot!
What I didn't also say is that the Bank arranged a new credit card for me with a limit of £20k at 9.9% and that's without any credit that her-indoors is entitled to as I certainly have no intention of selling ANY NUOG until at least 5p, with the caveat that I'd have to be an equal idiot to you taxi if I did that whilst they were still rising!
The car's great by the bye but it's not the Bentley as that'll come when the share's a tad higher!
LT
seadog
Shucks me old matey but I may have mis-extrapolated your stated position with NUOG as I was quickly advised that there are ongoing ties and responsibilities that you are committed to .......... apologies for downgrading your status here!!!!!!!!!
LT
Bejdroid
One of the critical positive drivers here for me right now is that seadog, as a former insider, waxes lyrical about the deal with not a hint-of-tint of doubt which is brilliant in my humble BUT he does not hold back in his criticism of the Co's comms which is a totally and probably unrelated kettle of fish when it comes to the totality of the deal(s) nearing the finishing line!!!!!
I have myself drafted a short and terse email to SB about his lack of tweets headed "tweet or two" but am holding back a bit in sending it as I have a feeling that something is brewing in the background and I don't want to end up with egg on my face!!!!!!
For my part, like many, I have run the marathon with Engi/NUOg and although severely out of breath and flagging I don't intend to fall this near to the finishing tape!!!!!
LT
Ben
The possible answer to your million dollar question could be that hurdles were provided to competition which means that unless they have been removed and if so, I believe we would have been told, the bondholders are up against pretty serious deadlines that would make the time it would take for a competitor to "jump" in and do stuff like due diligence, technical feasibility etc etc so unrealistic as to be a non-starter in my opinion!!!!
In other words, we look like the only show in town on this deal and it's just a question of coming up with a deal that placates both sides, i.e. us and the bondholders AND it's there, in those negotiations, that I judge AM to be in his element although it does take time as we all know only too well!!!!
LT
seadog
As a bit of a people-person I can absolutely identify with your description of Alan Minty.
I run my own family business and I guess that my top priority will always be my legacy issue to them - fortunately, I only have myself and my kids as shareholders so don't have to suffer the "pesky" stuff that AM does from the likes of you, me and others with our incessant questions!!!!
What I do know from talking to Alan is that he is absolutely determined to leave a viable entity to his family that is based on his own integrity, professionalism, and industry-experience which I believe is second to none, being particularly appreciated in Norway where he cut his teeth in the oil-industry!!!
No surprise then to me that the bulk of the consortium seem to have Norwegian connections and I have a very strong recollection of being told that he has a brilliant relationship with a major Norwegian Bank which could come in useful maybe if he ever thinks of investing a couple of hundred million in a Brazilian!!!!!
Frustrating times I agree but the ultimate prize will more than compensate for my bitten-down nails and high blood pressure!!!!!!
The Beatles were spot on with their "Norwegian Wood", after all - who wouldn't???????
LT
I posted that heading as I did not want to start with "the darkest hour is" but that's EXACTLY where I see our situation as of now insofar as the almost "slap round the face" hints have told us so much about the deal and where it is that all we are missing is that most relevant detail of all; "THE TIMELINE!!!!".
BUT ......... does anyone in their right mind believe that Simon, our Nomad, our Board, Aker, MFDevco and a probably reluctant Alan Minty would actually give us so many dots to join up without being pretty ruddy confident that the deal is just about to cross the line ....... the only question being "when?".
From the convergence of information I am hearing and reading I believe that we are only days away from our "Sarajevo" moment (excuse the analogy!) when we will get a very real kick-off hint that Brazil is a done-deal with, perhaps surprisingly in my view, a window of opportunity maybe staying open at a relatively low price before full lift off occurs when the realisation dawns of just what this deal means.
As others have said, we are perpetually only ever a heartbeat away from the RNS that will almost certainly see a doubling or tripling of price BUT who'll be brave enough to dip in then with the fuse smoking and the clock ticking towards the SP explosion that Mark and others have so articulately expostulated about (I'm back Tary!!!) for so many months and have been called all things under the sun for so doing BUT they WILL be proved right ...... trust me and the backing of my huge holding ..... ooh errr, missus!!!!
Good luck all!
LT
SBP
Just to finish off that post:
"All this is my own opinion for debate, but no doubt there will be detractors."
SBP - thanks for these updates.
I am copying your 17th August prescient post:
"Now that markets have closed for the weekend, perhaps we can examine a few more aspects of the complex deal being negotiated.
Given that the Brazil/Tuparao Martello/OSX3/Dommo Energia situation has been discussed at length on social media, and has attracted no comment from the Company, nor triggered any post deletions on here, it remains a possibility that it is correct.
The Company has previously said informally (?) that a past deal fell through because of the Reverse Take Over prescriptions of AIM Rule 14, and no doubt a corporate lawyer has examined that and made a few suggestions for going forward. This was discussed last night.
The incorporation of MDFDevCo (Brazil) Holdings Limited in England is probably a consequence of that legal review. Holdings companies are incorporated to hold shares in other companies; that is their purpose. It is a subsidiary of MFDevCo which in turn is 50% owned by NUOG. Given Alan Minty’s stake in NUOG and his indirect stake through RMRI Ltd in MFDevCo, one could argue that MDFDevCo (Brazil) Holdings Limited is not controlled by NUOG, but by Alan as controlling party, and therefore might not be treated as a listed company subsidiary for the purposes of AIM Rule 14. The Company has spoken openly about the need for the right legal structures.
That opens up a few doors around the Dommo Energia situation for participation without suspension of the NUOG listing for a new prospectus to be delivered.
Then we have the peculiar situation where the NUOG Chief Executive has taken control of a cash shell company listed on AIM called Polemos plc, making that a connected transaction surely? Polemos has until the end of September to reverse into an oil and gas company or asset or be delisted. It does not have much cash, £300k or so, but has approvals in place to raise more through placings.
It is hard to believe these things are not connected, when considering the other links of Nordic Trustee purdah about the re-assigment of the OSX3 lease, the rump of OGPAR reversing into Dommo in Rio, the role of Fearnley Offshore/Securities in this mix.
I can see a scenario where Polemos becomes the bondholder preferred owner of the OSX3 lease, and joins the MFD consortium; and MFDevCO (Brazil) Holdings Limited take a stake in the way OGPAR finally reverses into Dommo Energia. This would avoid any dilution (as promised) and allows MFDevCO (Brazil) Holdings Limited to co-ordinate the project for a royalty (as Alan Minty forecast in December 2017).
The Chinese facility from CDPL must surely be a wet-lease jack up drilling rig to reinvigorate the sub-surface reservoir with new wells and MFDevCo (China ) Facilities Limited with become the lessee with some leveraged finance via COSL good offices.
Is so, it all has to happen by end of September because of the Polemos situation.
All this is my own opinion for debate, but no doubt there
Yaeh OK - crap I know but time on my hands after finishing mowing my lawn!!!
LT
Ben
If it's any consolation it would appear that the Company are in some form of comms lockdown as either calls are not being returned as normal or deferred until next week for some reason - now, I wonder what that could be?????
My bet is that someone is on the vinegar strokes and at AM's age that can take some time (only joking if you read this Alan as I am of a similar age and suffer a similar affliction!!!).
Hold tight for something relatively soon is my advice!
LT
Sharelock
Some people are just so myopic that they fail to see the bigger picture here!
Guy on ADVFN indicating that he's in touch with DOMMO shareholders and they are looking forward to events - make of that what you will eh?
LT