Member Info for mattcwest

Mid 2010 for me and i remember buying at 20p+.... so i'm happy with my 1p average given the potential here (like you say Blanka, taken some faith/balls to do so!).

Good times ahead with a new man at the helm i hope. Back to 20p would be lovely!! :-)

Available on the NUOG website under News & Media or via this direct link:

http://nu-oilandgas.com/uploads/files/190125-AGM-Presentation.pdf

I for one will appreciate any feedback anyone attending the AGM can give. Also, no rush, as i know you all have travelling to do and some on long journeys. Sometimes we get a bit impatient for news or feedback. Let’s be patient and grateful for people taking the time to keep us informed.

GTW RNS this morning is interesting. So we have MfDevCo which is looking at multiple marginal OIL fields..... now we have a completely separate wing, not previously discussed, very much officially anyway, looking at marginal GAS fields. We've just added a whole new business focus.

Yes this can be seen as jam tomorrow, another partner. But, i get the feeling when one deal lands, on either side, even if small and only enough to pay the day to day bills and avoid future placings, that things could turn rather quickly here and we could see ourselves with several deals in quick order.

One deal proves the model. One deal should pay the bills and give us more money to employ people and look for more deals. I can see this snowballing.

Alan retiring is also good. He deserves his millions when deals are signed, he didn't fold ENEGI for which i give him credit (and otherwise would not be here in NUOG today) and for building a consortium. However, i also feel he was the reason many deals were not signed, potentially his desires not lining up with returning shareholder value.

New chap looks really good and i for one hope he intends to reward shareholders and build a growing business.

Damien is up for re-election next year, so also incentive for him to deliver (or be seen to) as i think NUOG are much more aware of the strong and large shareholder base held with PI's that can come together to effect change if needed.

I first invested here in 2010. So 2019 being my "10th" calendar year, i very much expect to be the best year yet.

Thanks Dunnock. Very interesting thoughts indeed.

That's 100% true Wombat, at the moment i think we suffer from doubt and overhang from the old ENEGI days. A new company would probably have had a clean record and with this many assets and the potential that just one deal will unlock, would probably already be sitting at multiples of 1p in anticipation.

One deal proves the model and bring credibility to the consortium. The market will hopefully realise what's here when that happens and i think we could be in for quite a ride.

Plus deal 1, if big (like Brazil) will hopefully lead to Alan retiring in to the sunset on his yacht a hero and we can introduce some proper 21st century corporate governance that is needed if we are to move in to the FTSE 350/250.

Therefore a double whammy - major deal and change in company ethos in relation to shareholders. The latter has been missing for some time, but i can see the light at the end of the tunnel. Deal 1 changes everything.

Great post Seadog. Reminds us of why we are here and what we are waiting for, as well as the realistic down side. I do think when the first piece of value add news arrive (MF deal 1) it will unlock all of this potential, because we will have the income to hire more people to go after all these deals. I like to think of it as a snowball rolling down a hill. We just need that last little push and i think we'll be off.

LT's one of the long term crew from the old ENEG days, so was buying shares up at 20p etc. But some serious skin in the game either way!

I wonder how many will look back in a year or two and say "i wish i had bought NUOG at 1p" look where it is now. Crazy to think GHS on it's own is worth 5p+, thats a side asset. Even a small MF deal is probably worth 10p+. with a massive deal multiples of that.

Look at our consoritum, no small fish.

First deal signed, fair valuation, revenue in, change our BOD and improve comms, sign more deals and aim for the ftse 350/250!

Looking forward to starting this journey, thats for sure.

Thats the thing here. First deal is always the hardest. 5 x 20,000 BOPD deals/fields totalling 100,000 bopd - well thats a pretty large valuation (£'s). Obviously each field will take time to develop and bring on line, but once i have some intial capital back, i'm happy for the rest to ride for 2 - 5 years as the story unfolds.

The time is near, the future is bright. So much potential here!

#exctingtimes

Worth re-sharing, some previous calculations as to the potential. After all isn't that why we are all here? Potential.... if there was none, why invest, so we've all seen something here. If it comes good, we'll all be much better off. If not, then that’s the roll of the dice we all take.

#NUOG Brazil Producing field valuation
Assume 10,000 bopd
Revenue £207m
Prod costs £82m
Loan/cost recovery £19m
Net revenue after tax £79.4m shared between equity holders
50% to MFDevCo
£19.9 million to NUOG less op costs £18.9m earnings
Mcap £377m
SP 27.9p

Change up or down depending on your research and risk approach, but does any reasonable change in bopd or % give us an SP lower than 1p? Hell no.

Then there is GHS, GHS farm in, H&D, MF deals 2, 3 and 4..... Slow progress yes, but if MF deal 1 is as big as we think, we'll all be happy we waited. Doesn’t mean the company couldn't improve its communications though! :-)

Do your research, trust your research, react accordingly if things change - and take with a pinch of salt the losers who post under multiple aliases positive or negative depending on if they are in or out. It's usually easy to see.

People invest on potential. If you dont reasonably work out what the potential is, how do you value it? Having a go at someone who puts a lot of work in to research and provide estimates without providing anything of your own to counter is just pointless drivel highroller and says more about you than it does seadog.

He's in the category of well researched marbur05... why dont you show us your detail calculations of potential here if you think 25p+ is wrong? Would be interested to see it. Suspect i'll be waiting a while....

If this is accurate, how does does this stack up against the RNS of 26 June? (Hurdles to competition) Is there a route to more than 50% equity in the field?

#excitingtimes

One thing that gives me hope is the Alan Minty wont want to retire a failure. He'll want to deliver this massive deal and sail off in to the sunset A) rich and B) a hero. Once MF deal 1 lands, i hope we restructure and get some decent corporate governance (comms, accountability etc) in new BOD memebers, to match our new size and ambition.

If it is this field and the company is in trouble and needs to get some revenue rolling in, we'd certainly be the right company and consortium to help. This would be massive for us (not to mention this is only MF deal 1 of how many possible? 6+1 and all that.... hundreds of fields out there!).

And let's not talk about those tiny side assets (GHS, GHS farm in, H&D and EL1070) which on their own would be company making.

All aboard...!

10p for me is 280K.

So 20p - 30p i think I’d faint too!

Funny to think in the old Enegi days i had 10K here and less than 40,000 shares. In the last 2 years i've been able to average down to around 1p and have 2.8 million. Wish i had more to be honest, but i can only afford what i have invested (around 30K total now).

My ideal plan would be for this to rocket to 20p on a massive MF deal and sell half, maybe 1.8, leaving 1 million for MF deals 2 and 3 and on.

I can dream of course and this is aim, we might only get to 2p!! But as Seadog has said, its hard to ignore cash coming in the front door - and when you look at valuations of other companies who have much less proven or prospect and much more debt, it makes 1p look silly. Once we shake off the failures of Enegi i think this company will be well and truly revitalised.

I'd be happy with a suspension. Imagine being a troll and being locked out of this as it rises from 1p to something substantially higher on the announcement of a deal. I'm starting to wonder if we'll hear about the whole deal in one go, so one suspension and one massive rise, or if we'll hear in chunks - heads of terms signed, finance, final sign off etc, all of which should lead it incremental increases.

This is exactly why I don’t trade this. I may have been able to technically double my holding over the last year if I had sold high and bought low and repeated, but the risk of being out for me (especially after 8 long years) is too great.

I’m here for figures that Seadog has alluded is possible. I’m as frustrated as most, I’ve been here a long time. But I expect GHS farm in to be renegotiated with better terms, GHS to finally flow (get on with it NUOG!!) and MF deal 1 to land, with more deals to follow once the business model is proven. The company is shocking at comms, but my hope is that once MF deal one lands, Alan with drift off to the sunset with his golden retirement pot and we can get some new BOD members, better governance and turn this in to a bigger company, with the structure to match a mcap in the hundreds of millions.

Even if we take 9p for MF deal 1..... given the scalable nature here, it wouldn’t be hard to see ii's looking at this thinking 9p to 36p on just 3 more deals, given the consortium and proved nature from deal 1, could be possible. For them 300% would be a great return, given the lower risk profile. However for us invested here, if you continue to hold some shares here, that will be massive. Now think that 4 deals at 29p would look like!!

I can only imagine once the model is proved, given Aker and our other consortium members, how many deals we could be looking at and how quickly we could start spinning them up.

Also, with the revenue 1 deal alone (not counting GHS etc) we could afford to service our small debt, reduce the need for placings and also hire more staff - all who could be going out looking for and negotiating deals. So not only will deal 1 prove the model, it will pave the way for us to vastly increase the people working on these deals - i hope it will be like a domino effect!

I do wonder if we can be the next big thing…. Who knows, this is aim, we could be at 1p in a year, or £1, or have been taken out by an interested party somewhere in between.

Also imagine the dividends that could be possible on holding just 1 million shares for the long term up at those higher valuations in years to come. I talked to Seadog separately about this and I think we worked out it was way more than most people’s average yearly salaries, especially if held in an ISA.

Been here 8 years and would love to take a little off the table at say 20p, enough to pay off the mortgage, but do intend to leave at least 1 million here for a while (so long as the new continues in the right direction, I’ll always base my decision on the most recent evidence etc).

#excitingtimes

We are incredibly undervalued, but that’s the reason we're here - potential. It's felt like a long journey, especially for an old ENEGI investor like me (just over 8 years now). When we announce the first MF deal, it will blow the socks off... imagine being someone new taking a position and within weeks you get a 10, 20 or 30 bagger. I'll be just as happy for you as i will be for myself!

Apart from the trolls... you can all take a running jump ;-)

Not to mention GHS revenue and farm in, H&D, EL1070 and all the future MF deals that will then become much more viable!

I just hope I have the guts to hold some of my holding for the long term. Life changing this could be…. And if not, well it’s a better bet than the casino or the horses, that’s for sure!