Member Info for mcadder

HL have given 30th as a deadline but they are quite clear that the funds for OO and any excess you apply for must be in your account by noon on Tues 30th. Different brokers will have different cut off dates and rules worth checking with them.

No probs Cobrakai....have put my request in for an extra 4M with the OO I suspect a few more will be considering it now lol

Cobrakai - I believe you asked me about this in a slightly different way the other day. I refer you to the previous lengthy reply. As for the OO if there is a guaranteed way of being able to buy another say 5M at .3 then why not? I doubt if you tried to buy that amount on the open market that you'd get all them below .3? Imagine the scramble for OO shares if some positive news were to land say a few days after the deadline? Only you wouldn't be able to would you lol.
You don't need to get so concerned about my large position Cobrakai as it is my own money I'm risking at the end of the day just like the risk everyone else takes here even if their degree of risk is less than mine

Sharelock a couple of good posts there and reinforces my belief here with the huge potential at this level hence why I bought in so heavy here. I'm looking to add some more over next few days plus take up the OO utilising the excess allocation option too...

Nice to see this heading back up finally

Hi cobrakai - you are indeed right I was pretty negative here going back months ago because I believed that some posters were out of touch with reality on their valuations and opinions about "transformational news" being "imminent" despite being "insiders" at the same time.
I just had a feeling that the SP would drift somewhat from the then .7 area but for the SP to end up at current levels was a complete surprise.
Following the recent bod changes with GS coming on board convinced me to buy in. Just more luck than anything that I held off buying in till immediately after the unexpected placing.
I'm certainly not going to shout from the rooftops about this one but as a long term investment I see value here and I also see progress on a couple of deals this year. I will also be taking up the open offer allocation. Whether they have something up their sleeve to entice everyone to take up the offer though remains to be seen.

Obviously your not going to get a response when asking a question like that - the sort of question that isn't in the public domain yet. Hopefully we may witness a change under GS in terms of under promising and over delivering this time instead of over optimistic hints leading to false expectations in the past.

Good news hopefully we'll see the start of progress on the debt front now this is done and dusted

Still holding here but reduced my holding somewhat over last couple of weeks as the continued placings and now very large number of shares do concern me a little. Having said that am still expecting a positive result on the cornerstone investor and offtake news. Still all to play for

Great to hear you've made it out there! Look forward to any updates from down on the site! I agree this has to be one of the most undervalued junior diamond producers at the moment.

https://www.dailytrust.com.ng/exxonmobil-other-oil-coys-not-exiting-nigeria-kachikwu.html

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said no International Oil Company (ICO) is planning to exit Nigeria contrary to reports in some sections of the media.

Dr. Kachikwu made this known while briefing newsmen after a facility tour of ExxonMobil Erha Floating Production Storage and Offloading vessels (FPSO) in Lagos.

The fields are located approximately 97km offshore Nigeria in water depths ranging from 1,000m to 1,200m. They were developed with an investment of $3.5bn.

He said it was not possible for a company like ExxonMobil to sell off its assets for the small amount quoted in the report as its assets were much more worth than that.

Hoping for news here next week disappointing end to the week huge potential should Art unexpectedly announce debt funding to move copl forward

Pcloud that is indeed myself

NumptyNu - That's what your posts make me feel like doing....going to sleep zzzzzzzzzzzzzzz lol

Gotta be a buy. If 3M was sold at around 4pm for 0.1005 no way someone would have been able to sell 26M for 0.1010

haha so now you've finished slagging each other off let's finish with patting each other on the back in true nuog style lol. Bought a few more on the dip today got a load more at .27 before the strong finish. More of the same tomorrow please :)

???? You sold out and 2 mins later bought back in ???

My buys today were just below the OO price which is good for me so right now why would I? Some decided to sell so I bought - simple. I couldn't really give a toss about traders. My aim has been to accumulate bit by bit at what I consider to be a decent entry point as I see value here with potential for some positive updates.

No one is buying at .3 level? I beg to differ there seems to have been quite a few decent sized buys today around .3 mark on lse and NEX. Two were mine :)

Given the lack of official progress and recent SP performance it's not easy with those sitting on huge paper losses or who have sold out to see anything positive here however there are still reasons to remain positive re the future:

"Firstly, to focus on the pursuit of marginal field opportunities, and in particular Gas-to-Wire ("GTW") opportunities"

"Secondly, to seek value from the existing assets located in western Newfoundland, which the Company holds through its 100% owned subsidiary Enegi Oil"

"Thirdly, to acquire value-accretive oil and gas assets on an opportunistic basis".

"MFDevCo has been advancing multiple projects for some time, the negotiations for which are at different stages of development and maturity".

"MFDevCo's recent agreement with Marnavi Offshore to establish a special purpose vehicle ("SPV") in which GTW projects can be realised has been an important milestone in progressing the Company's growth agenda".

"MFDevCo is now pursuing multiple projects which fit the GTW model. In particular, two distinct GTW opportunities are being prioritised where discussions with operators have advanced quickly so far"

"Over the next twelve months Nu-Oil will progress the strategic objectives noted above and seek to further enhance and integrate resources of the Company and MFDevCo where appropriate in a bid to optimise cost synergies".

"The net proceeds from the Placing and Open Offer will contribute towards a number of developments in the coming months. In particular, the proceeds will primarily be applied to the Company's general working capital requirements, including support of MFDevCo's implementation of its gas-to-wire initiative".

And I know I'll probably get shot down on here for highlighting these bits from Fri's RNS as being too positive on my part however I do see potential here and am willing to hold here long term and perhaps even add to my position.