Member Info for leftie

I always thought that Thursday was the most likely day for the RNS, but I would happily take tomorrow if it wakes this share from hibernation.

This song sums up my feelings towards Maggie at the moment... Replace the he with a she and you are mostly good to go... https://youtu.be/nMqxNPsfN50 I wish my investment into ZIOC was half as big as my investment here.... Given the recent drift in SP even a tub thumping RNS is only going to get us back to around 10p...Cmon Rita, what are you up to???

Do we still hold all of the speculative Apache land in Montana? Can't see that being worth much, presumably that will get written off at some stage, if not already. Looks very much like we are rapidly realigning ourselves to having a reduced portfolio concentrated on a sweet spot in Olkahoma. No new leases to speak of, lots of talk of investment cash thanks to WED, fewer leases, therefore fewer overheads. So I suppose the question that is hanging is 'whats the WED cash for?' Are we still looking to prove up leases. With our concentrated portfolio how much of this proving up do we need to do? It would be nice to hear something...

I see there is some excellent news for holders of ECHO today... Wish I had been in that share for the past 6 months as it pursued a business plan with similarities to this.

Little of interest in this RNS for me. Certainly not the significant update we were all hoping for when we saw the red dot. I suppose we have to report this update as it fits with the company rules of reporting updates on wells where the interest is over 1.5%. Back to waiting for the next red dot. I have some renewed hope given that there maybe some sentiment returning to this sector given that crude prices have been pushing north towards greater profit over the last few months.

Indeed, I have a similar feeling. Even NTOG which I saw as a far more risky investment due to their scattergun approach to new drills and high directors salaries is having another good day today. Its been a long time since there has been an announcement here that would attract new investment and help to raise the SP. Even our most tub thumping of regulars are finding it hard to find something to post about (although Guidedog continues his impressive daily submissions) I thought that this was one of the safer shares on the casino that is AIM but the company is a long way off its end goal that was set in 2011.

indeed so. Splendid bit of Friday afternoon action... 52 week high well and truly broken again... I have only got in in the last week which is not usually my style given how much this has already gone up. Still so far it shows no signs of stopping...

Maybe the government will fire up a few oil/gas fired powered power stations to cover the extra demand...

Presumably any SOS sales will result in a holdings RNS?

Following on from this mornings reassuring RNS which follows some unpleasant mud slinging I presume that NTOG will be dumping their shares on the market which will further depress the SP. Or if they do not, can we imply that they also like the WED deal and see a more rosy future? I am envious their 0.06p average that's for sure.

"The CMA provides for a minimum capital commitment to be provided by WED of US$10,000,000 by 1 January 2020 " minimum of $10 mill... There is no mention of the existing credit facility. WED would have been made aware of it as part of the investment, presumably there is nothing of concern to WED over the existing arrangement. Great news, although what would really produce a sustained rise in the SP would be some sort of agreement within OPEC to limit supply and therefore get the price of oil significantly above $50 to a point where OPEC members are making a profit pulling the oil out of the ground.

Mr E, I agree. I don't like the NTOG approach at all. I think that may have got lost in my slightly rambling thread, I know that a few on here would like to see a 5 year plan, but given the current cash constraints and the bank insistence that other investments must be generated from within the company I can only see another year of stagnation until the well receipts improve. I don't think there is a plan at the moment, just survival. Is surviving justification for a salary given the market cap?

Sadly like many I am a suffering LTH here who has watched the SP decline over the past few years, whilst continuing to dream that Rita's oft repeated refrain of shareholder value will one day come true... Well the market certainly hasn't spotted the model so far, and now it seems that some of the directors have stopped believing too. So we have a very damaging split, with SOS looking to get reward for his investment, with some agresssive cost cutting and remodelling thanks to NTOG. So they plan to remove Rita. Fair enough a large salary, coupled with a small holding in the company does not give an indication of someone who is confident in the future of her operation. Her role in this has rightly attracted scrutiny, especially thanks to the precarious position we are now in with our banking covenants. So where should my votes go? With Rita for more of the same, and a hope that one day someone biggie will pick us up for a fair market value? Or with NTOG who are going to drive down the salaries and remove unproductive assets. Tempting. What will NTOG benefit by doing this? A lot. We have some great assets and great data on them, thats where the value in the company is. NTOG after picking up control for a very meagre sum would have access to some great drilling locations. That is surely worht a speculative punt. Admittedly I cannot access the NTOG 2016 financials as they are still overdue, but the last few years finances are not pretty. One thing they do have which MAGP does not is a very big line of credit with their bank. Their 2015 reports showed a net worth of -1.1 million. No shareholder value there. This has been on a downward trend since 2011 when it was at its peak of just over 2 million. Their equally well paid execs are hardly in a position to talk about sdhareholder value. Do they really expect people to believe that after not receiving a salary for the first year they would not extract reward for their efforts via some other route? As posted on this board they have history in this regard. MAGP on the other still have assets that would produce a shareholder value even after paying off the bank loan. I took a loss on my NTOG shares in 2012 and put the money in MAGP thinking the business model was more sound. I still believe that to be the case as long as MAGP can receive enough money from their existing drills to fund future plans. I haven't seen proof of this and therefore have doubts. However, on balance, I can only view NTOGS apporach as highly speculative and utimately a way to obtain a quick return that would benefit the execs first and shareholders second. In Rita I have to trust.