Member Info for orslega

.....grass cutting! Non stop rain, flood alerts more like.....

labratt - if you felt that strongly way at the time, I'm not sure why you still remain invested? Even more so now if you don't like what might be unfolding very soon. Better take your losses, and move on. Am sure Mr M would agree with that but with one further piece of advice he still trying to come to terms with - learn to let go. You still never found out what that cross border gas deal was worth? And his connections? Hang around even you might have to have a re-think, lol

not sure what you're referring to re good post but I think NCT shareholders will soon see very important changes afoot both in direction and cost structure.....I have no doubt it will be very pleasing for shareholders, imo As for the bin man reference you might be surprised about his proven capabilities.....not long imo for him to respond to that!

His CV tells you a lot about the skill set he has and what is going on at Shoats Creek right now: Summary Completions/Workover Consulting – Well Intervention – Well Site Supervision Independent oil & gas professional with over 15 years of production, completion and workover experience with daily operations and cased hole disciplines, as it pertains to safely and efficiently managing the well-site coordination of information, people and budget. Flexible and able to adjust to change in priorities and change in conditions. Professional Experience • Support for drilling operations, supervision of running casing, testing of frac valves, wellhead & surface equipment. Supervision of 2500 stages and drilled out over 800 plugs in Cotton Valley, Woodbine, Rodessa, Tuscaloosa, Hosston, Wilcox, Austin, Glen Rose, Hunton, Nacatoch, Barnett, Eagle Ford, Bossier & Haynesville. • Completion supervision of vertical and horizontal oil and gas wells. Depths to 18,000’. Experience running wire-line for logging & TCP perforating, pump down plug/perforating in horizontal wells, wire-line installation of packers, CIBP’s, running tubing, slick-line, snubbing and CT/coil tubing operations including: fishing, N2 jetting, abrasive cutting & fracturing. https://uk.linkedin.com/in/stephen-brock-259a7193

Stephen Brock has only been at SCDI (SCDI is the operator at Shoats Creek) for a couple of months - looks like in official capacity only since 13th June 2016 but probably around before, maybe as consultant pending results. (Note Eddie being there since end of last year, no co-incidence there imo). http://coraweb.sos.la.gov/commercialsearch/CommercialSearchDetails.aspx?CharterID=462543_HT93 So given the many new SC initiatives we are beginning to hear about, not least the significant gas opportunity I reckon he is the guy behind moving SC high impact/low cost/low risk initiatives. So plenty of action presently at SC - LM14, is just one low cost workover, last week's RNS - what a result indeed, game changer for NCT. "Following the tie-in of the Well, Northcote’s net production at Shoats Creek is expected to increase by 450% to 110 barrels of oil equivalent (calculated on a revenue equivalent barrel basis) from net 20 barrels of oil per day currently. I am expecting to hear about other workovers very soon, they have the data/3D seismic, just a question of prioritising - where next : )

Oil prices in Feb 2016 were around $30, so maybe with much current higher prices, more flexibility/interest in non core assets...... ......currently, even today's prices, a lot of capital tied up in non core which would otherwise available for working cap... if JW not going to spin out non core into new vehicle, a sale of non core assets makes sense.....but not at fire sale prices...

Wonder what has happened since February.... "Over recent months, the Company has been in discussions with various parties who have expressed interest in acquiring its Oklahoma Portfolio. Due to the current oil price market, the challenging financing backdrop for E&P companies, and the presence of many distressed assets owned by large public shale companies, the Board recognises that achieving an outright sale at reasonable values is challenging. Therefore the focus of the Company has shifted toward discussions regarding a joint venture to bring in outside capital and expertise in the development of mature oil fields. These discussions are continuing and the Company looks forward to updating the market in due course. With this in mind, Northcote has appointed Jay Wettig as Vice President - Oklahoma Operations to focus on maximising value from the entire Oklahoma portfolio. Mr. Wettig has extensive experience in delivering operational and financial improvements in a number of industries including oil and gas, manufacturing, logistics and consumer related businesses. His focus will be on: Cost cutting and restructuring of the Oklahoma operations to significantly improve the production and financial performance of the assets in the current price environment Continued exploration of exit opportunities for the non-core assets Evaluation of partnering opportunities and development plans at Zink Ranch

NCT do not have any bank debt (any financing as we know has come via placings) - they are planning to be EBIT positive near term if all goes as planned at Shoats Creek - so hopefully no bank debt is required. Certainly the CPR at SC will be getting better by the day if the workover results are anything to go by. An enhanced CPR opens financing options but that might be a little premature. Not forgetting that he Remediation Plant is also earning as we speak but we have no details. To many unknowns. So I expect any operational update will cover off many unanswered questions including financing etc etc

peterz, here's hoping this week it is (I thought we might hear something last week.......Nomad being usual stickler for paperwork I guess, plenty of checks) Any potential new Board will want to (and need to) hit the ground running from the outset.....I expect that will include a full operational update, Shoats Creek, Mayan Remediation Plant, and near term MX oil services opportunities. IF as is heavily rumoured "fast Eddie" is to be the new CEO I have no doubt Mexico is where Northcote will be majoring. Dotting the i's and crossing the t's as we speak. As I have said before this is a plan which I believe has been worked on now for a number of months. Best for the new team to get it absolutely right for the re-launch and make the necessary impact : ) Tick tock...

Helpful - re BC - pretty certain that the stakes have been raised since May; do not expect him to be in the front line / much bigger hitters coming on the nct board ; ) imo

it was more about the timing......not what they said....

Bryon G. Conley ‏@GBC_OilNGas Jul 28 "More good news for Northcote Energy and Springer Energy on Shoats Creek revenue increases:" http://arrowhead.obsidianirtools.com/northcote/news/article/24743253 … Byron G Conley Co-founder and Managing General Partner Springer Energy Development LLC May 2015 – Present (1 year 3 months) • Responsible for managing 7% of Shoats Creek revenue, providing business updates and managing revenue commitments for investors. • Sought and secured sufficient investor capital to fund the discovery phase and begin production of Springer Energy’s holdings, representing up to eleven new wells.

Selling? I'm expecting more buying by a large margin! imo

wonder what the report says then.....

Northcote Energy’s (NCT) “Speculative Buy” Rating Reaffirmed at Beaufort Securities Posted by Renee Jackson on Jul 29th, 2016 // No Comments Northcote Energy Ltd (LON:NCT)‘s stock had its “speculative buy” rating restated by Beaufort Securities in a research report issued to clients and investors on Friday. What do Beaufort know, any reason why they are telling clients today?? Could be something in it, lol

Stuy, re advfn, you are so right......a while back some of the posters from here, including Noli who set the NCT board up, got some serious abuse. Anything goes, absolutely zero supervisor by advfn. Not looked in for a long while but all they used to is **** each other off with non stop foul language. Hope they stay put - in fact, they are not here because LSE will bar them pdq. The only thing good about adfvn is the facility to hold important data and links in the header - LSE could learn something from that; saves much time for quick referencing, except now there is the NCT blog I guess for that.

topping up, 5M, why would someone pay full ask just now.....?

has been very small these last few weeks, good to see today a sea of blue, but even then, still only £7K worth...what I have noticed in the last week or so is that the market makers have been very happy to take 20-40M shares without going to NT, so that tells me that they ain't holding much stock or they have decent buyers lined up... ...this points to a current situation where most are sitting on hands or adding a few, nothing else of any significance share volume wise to get excited about....transformational news might just change all that; imo

Helpful, indeed; they also never told us about the various workovers until after the event......do we note a change in management style, maybe the element of surprise is the way forward : )

Stuy - great overview, I can concur with much of what you say. The bottom line is that he has managed to keep NCT alive in what has been a very very difficult climate - many companies would (and have) simply fallen by the wayside in this situation but RC kept the company alive with his ability to cut deals where others would have surely failed. Yes there have been mistakes along the way but we are still here. As I said yesterday I believe this transition has been worked on for quite a few months - even RC recognises that there comes a point no matter what you achieve in "looking forward" there is "too much baggage" and it takes a realistic CEO then to make that decision to step aside in favour of someone else - someone else who has huge sector respect/achievement to take the company's building blocks to the next level. Firstly and foremost RC is for me a deal maker, whatever you think of him he has put NCT in a position today to launch many business streams. And very serious business streams you would not associate with an AIM toddler just that is not apparent. But to capitalise on those foundations he recognises the requirement for a new leader; this is not just about a change in CEO, but I believe a new board of some substance. Now why would such individuals want to be associated with a micro-cap like NCT? That is the obvious part for me, they see massive potential in terms of the NCT platform today. Let's see what transpires (next week I think?) and then debate. I suspect to see a sea change in the sentiment, imo