Member Info for orslega

colin - no one will disagree with that - however, how many times do you want to hear the same contrarian view? Have a look for yourself...... ...so when someone gives a view, then repeats it several times and then you guessed it, up it pops again and again, jeez (he's being doing precisely that on the RRR board for 4 years, where he is very dissatisfied with Andrew Bell, his CEO; yes for 4 years, beggars belief........some people just accept they've made a bad decision and move on, life too short.... ....you can only then begin to really understand while he has been filtered by many.....

"not to much excitement in one hit, as the party slammers are yet to land" ....like the sound of party slammers, i have an idea : ) : )

yes, looks like someone's at SCDI is getting a strong grip on SC "Eddie" been around since last November but Stephen Brock only there in official capacity since 13th June 2016. http://coraweb.sos.la.gov/commercialsearch/CommercialSearchDetails.aspx?CharterID=462543_HT93

looks like MMs collecting some shares - can sell anything up to 20M straight off..

" If I was Andrew Bell, I would want part of LM14 and the other workovers." Maybe Shoats Creek might provide him with an opportunity to reward his very long suffering and disillusioned shareholders; even better he would simply be an investor so have no control, his shareholders would definitely like that, lol

just bought 24M : )

Helpful, you are being too nice to Tragic, lol Not missing his lack of contribution one bit; can someone please let me know when he says something positive ha ha

This was previously discussed when NCT released the initial test results of LM14, how much it has been underplayed. But worth recapping what Aminex thought they had at LM14 (P1 Reserves). Their report stated referencing LM14 only: Oil = 18,000 barrels Gas = 175 Million standard cubic feet So that was then, today we hear: Oil = 120,000 barrels Gas = 750 Million standard cubic feet So nearly 7 times more oil and over 4 times more gas than Aminex reported. What else Aminex get wrong which SCDI/NCT know about? That is a huge uplift by any standard. Modern techniques and technology would have helped to re-assess. So NCT talk about bigger gaseous zones, looks like they know a lot more than they are saying right now. Very happy about that. For once NCT are holding the key cards I believe. No wonder there is much interest in NCT acreage, one or two watching closely; no worries about financing the cost of the gas tie in.....imo

We are also due at update on the Remediation Plant - the plant should now be complete (per RNS) and in the commissioning stage; but very good to see revenues have started. "As of June 30, 2016 commercial operations utilizing a portion of the facilities at our remediation plant have been initiated. The revenues generated will be reinvested into future expansion of the remediation plant, which can easily be scaled up to meet expected increases in demand both in Tabasco and across the country."

cash will be tight but SCDI/NCT control what's happening at SC; who knows LM21/22 whilst still planned, has no spud date even yet - most observers/commentators are beginning to suggest that those very expensive new drills($800K each) are on the back burner for a little while until they have completed a few more workovers (circa $80K each); if the NCT earmarked LM21/22 monies are freed up to take advantage of this strategy all the better as far I am concerned; and good cash management.

futures looking bullish....over 3p next 6-12 months - which means another decent % hike on today's prices - if those other gaseous zones perform like LM14, that will be very big business for NCT; also the CPR will also be firming by the day. Early days but the gas programme could be a very good banker for cashflow and the roll out of workovers, send financing. http://futures.tradingcharts.com/marketquotes/NG.html

yes looks like no gas from LM19 that we are aware of; but on oil production, again LM19 was a low cost workover, costing just 10% of what it cost to drill LM20, and look at the results announced to date. LM19 and LM14 are very evidence of the way things are heading; as long as NCT keep the higher revenue interest on new workovers it will have a major impact : ) Lutcher Moore #19 As previously announced on 8 June 2016, the LM#19 well has now been recompleted as a Frio producing well following a successful squeeze job at the 5030’ level. The well was originally a production well in a deeper horizon, the Cockfield, and following internal analysis offered itself as a logical candidate to produce in the Frio. In excess of 400 BBls of oil were recovered during initial operations, swabbing and testing, with a three-day average of approximately 40 barrels of oil per day under natural pressure. The oil cut in the LM19 is over 50% better than that achieved by the Lutcher More 20 well (“LM20”) and the recovered volumes, thickness of payzone, and high oil cut gives the partners enhanced confidence in the quality of the Frio sands in this section of the field. The LM19 will be added to full production in due course.

Yes they have no choice if they want to enjoy of gas sales......I suspect a bit of friction around atm with the SC farm in partners, but at least NCT are on the right side of this for a change.

NCT will be looking to both RRR and GCW to stump up $ gas infrastructure contributions if they are to enjoy gas revenues from LM20 and other farm in wells. Smart move NCT ; ) Confirms also that RRR/GCW have no interest in LM14 : ) Red Rock Resources plc ("Red Rock" or the "Company") Update on Shoats Creek Red Rock Resources Plc ("Red Rock" or the "Company"), the natural resource investment and development company, is pleased to announce the following development at the Shoats Creek Field in Beauregard Parish, Louisiana ('Shoats Creek'): It was today announced that Shoats Creek Development Inc ('SCDI'), the operator at Shoats Creek, and a subsidiary of Northcote Energy Limited ("Northcote") has agreed a contract with a subsidiary of Enerfin Resources Company, Enerfin Field Services LLC ('Enerfin') to sell natural gas from Shoats Creek with a primary term of three years. The announcement refers to Lutcher Moore #14 as being the first well to be tied in to the natural gas line. However the gas contract will also support tie in from the Lutcher Moore #20 in which Red Rock has a 20 per cent interest. At this stage no tie in to Lutcher Moore #20 has been planned, but a further announcement will be made to update the market in due course.

So LM14 workover by itself is a game changer at Shoats Creek, no doubt about that. The market has not worked it out, probably some confusion about the Chairman and not the CEO making the announcement. Note that the 14/7/2016 RNS talks about "re-entry potential in gassier pay zones".......they know exactly where (3D seismic from Aminex, but Aminex lost interest, changed direction).....note no additional infrastructure once current gas tie works completed will only make the return on investment significantly higher....so low cost workover, tie in, low cost workover tie in, repeat... RNS 14/7/2016 "Once gas sales can be undertaken, additional exploitation opportunities of well bores with re-entry potential in gassier pay zones holds substantial potential to generate additional low risk, low cost revenue at Shoats Creek Field."

"As the LM #14 demonstrates, there are multiple existing well bores with tremendous potential for low cost near term revenue generation that could not be previously exploited without having the ability to monetise natural gas. " Self funding for future low cost workovers : )

Even though the NCT holding company is BVI Registered company and not therefore not governed by the UK Companies Act, the company still follow those procedures and in any event of course has to comply with AIM Regulations because of its public listing. I'd be guessing - but I believe the reason why no AGM has been announced is because until the new Board is assembled (Nomad done his checks etc) they will not hold one; at the AGM shareholders will vote of a new Board, which is normally the case. I am pretty sure we know who the new CEO is ("fast Eddie) but I also am expecting other heavy weights. imo

Enerfin http://enerfin.com/Midstream/Index/?category=Midstream&contentcode=summary_mds&contenttitle=Midstream

RC is still around but I suspect he is will be passing across the reigns very soon, imo

Helpful as i said yesterday, I think that has been some re-thinking - I'm in your camp...think NCT are aswell, lol