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LSE is showing NCT down 16.67%........but L2 is a very blue picture : ) So it should be with this news.....

Helpful, I was thinking exactly that. RC handled LM14 very well. Kept our revenue interest at the highest level not part of GCW/RRR Shoat Creek farm in : )

peterz - a very good start to some other company changing news imo

Yes; always read the small print Stuy, lol So just ONE workover, costing around $80-90K - will return around $3.8M net to NCT share. It's a massive achievement. RNS today: "LM#14 is expected to increase Northcote’s current net production at Shoats Creek by over 450% (Northcote has a 70% working interest and 52.8% net revenue interest in LM#14)"

the remediation plant will be in the course commissioning as we speak....... it is a 24/7 plant, has capacity for 800 tons per day.......even a 50% build up to full capacity is a big top line number - the beauty about the RP is that NCT have investment $1M in the build - the JV agreement provides for NCT get repaid first from the free cashflow of the plant........ The till are opening at NCT, at long last. No one has mentioned Mexico - and oil services, so I will. That as I have said is the big opportunity I believe NCT have been working on and will surprise. Big surprise imo

Stuy - spot on. However, whatever is brewing in the background this news today will mean Northcote is profitable, mAIM like cash and profits - and wait for it - just one workover well is responsible. Bring on the additional gaseous workovers! With all that is rumoured, Northcote will be on quite a few radars very soon. This is unfolding very nicely.

"The sales contract with Enerfin provides for payments to be made based on metered monthly sales of natural gas into the pipeline. The natural gas price paid will be indexed to Henry Hub natural gas prices and adjusted for volumes produced and other customary charges. Payment will be made at the end of month after the month in which gas volumes are sold." Cash is king, monthly payments. Very good.

One workover well - worth $3.8M NET to NCT - what is our market cap........err £2.7M.... re-rate about to start; excellent news......it was all in the original LM14 RNS update but not spelt out the way RC would have.....

"This represents gross undiscounted life of well revenue at current prices of US$7.1 million or, net to Northcote, US$3.8 million based on a 52.8% working interest." Not bad for a workover! And more gaseous zones identified..... Note also gas sales will be monthly : )

Excellent - LM14 was as I expected the underrated news "LM#14 is expected to increase Northcote’s current net production at Shoats Creek by over 450% "

28 July 2016 Northcote Energy Limited (‘Northcote’ or ‘the Company’) Corporate Update Northcote Energy Limited is pleased to provide the following update regarding its ongoing development of the Shoats Creek Field in Beauregard Parish, Louisiana (‘Shoats Creek’). Shoats Creek Development Inc (‘SCDI’), the operator at Shoats Creek, has agreed a sales agreement to sell natural gas from Shoats Creek which should provide additional revenue from both existing and new wells drilled at Shoats Creek. HIGHLIGHTS: Delivery of an additional significant revenue stream in the near term via the sale of natural gas following execution of a sales contract with a subsidiary of Enerfin Resources Company Lutcher Moore #14 well (‘LM#14’) which produced 40 bopd and 2.5 mmcf of natural gas in testing will be the first to be tied in to the natural gas line; this is expected in September 2016 with first revenues in November 2016 LM#14 is expected to increase Northcote’s current net production at Shoats Creek by over 450% (Northcote has a 70% working interest and 52.8% net revenue interest in LM#14) Decision to test LM#14 was based on 2001 study which estimated LM#14 has unrecovered reserves of up to 120,000 gross barrels of oil and 750,000 gross Mcf of natural gas US$7.1 million gross undiscounted life of well revenue at current prices for LM#14 or US$3.8 million net to Northcote 52.8% NRI based on exploitation of up to six pay zones Northcote Chairman Ross Warner said, “We are pleased to secure a contract with Enerfin allowing us to sell natural gas from the 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. With natural gas prices in the US having increased by over 30% during the last few months to $2.75 per thousand cubic feet, the revenue potential from natural gas is well worth exploiting in addition to oil.”

"Someone just said" Fast Eddie" exited five guys in Dallas, holding a huge binder on "Waste Management Mexico". exited or excited, lol both work : )

Reading between the lines....RRR RNS couple weeks ago.....cheaper recompletions way forward in short/medium term; on gas, note the partnership reference.... "We continue field expansion with the low-cost LM19 recompletion now nearly ready for fulltime production. The operator continues to work to firm the spud date for the LM21 and several additional recompletions have been identified for further development along with a plan to add natural gas production via a local partnership in the area. While development over the year has ended up being focussed more on cheaper recompletions than on new wells we expect production levels to continue to increase and meet out ultimate targets for the year. Shoats Creek continues to offer a variety of cost-effective development pathways to increased onshore US oil and gas production."

yes still committed to the drills but no firm timescales yey......LM21 very overdue suggests (understandably and probably rightly) there has been a medium term change in the original plan.....

Helpful entirely agree, LM21/22 I do not believe are now the immediate priority, not least the cost of a new drill - circa $800K; based on results todate and as stated in the SC update RNS, gas is clearly the focus and other low cost workovers (costing around 10% of the cost of a new drill i.e. $80K). No brainer in this climate. Not sure where that leaves GCW/RRR on the new drills, a few sweetners I guess. but can understand why plans change. Still waiting to hear on LM19 production figures. Sounded like a nice workover result (but oil rather than gas).

what about a serious re-rate then if they come out with the "right" news, whatever that might be...like others, I can think of a few news items which would put a rocket under the share price from here.... tick tock.....

"A connection is made when two people are officers, directors, or otherwise associated with the same company. Heriberto has two known connections ." https://www.corporationwiki.com/Texas/Dallas/heriberto-gonzalez/38685394.aspx So although Cantera Investors LLC is no longer active it demonstrates RC and Eddie go back along way. Interesting RC will know his capability (assuming he is being lined up for Northcote). The other interesting observation is that Stephen D Keller was also an officer of Cantera at the same time; seem to recall that name in context of Prosper Petro - the US Service station project speculated a little while ago...'It's Not Just a Station, It's A Destination'...Keller was the real estate guy from memory. Isn't Eddie also now the President of Prosper Petro..... Pg 18 of the last accounts states interest held by Northcote Energy Limited in PP entities below as 100%. Prosper Petro, LLC Prosper Station 1, JV LLC All about getting the right team in the right place to take NCT to the next level, imo.

yes gas seems to be his main speciality: "Activity in both international and domestic energy markets, with Atlantic Basin LNG and Mexico pipeline / utility experience." Who else then has US > MX gas featured on his CV.....that'll be Eddie : )

....no specific detail were given but 4 months ago in 24th March RNS "Negotiation of a natural gas contract and installation of necessary equipment to permit sales of natural gas" Surely they cannot negotiate a sales contract without any gas! The last RNS 2 weeks ago points to the necessary infrastructure in place to deal with whatever route they have chosen to sell the gas, imo

http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_ORGAD?p_orgid=S3000 HERIBERTO GONZALES PRESIDENT Wonder what the chances of the next SC update coming from Eddie? I would say pretty high. See Jeff Welch is the COO of SCDI; this link also shows his main company under full profile as Northcote Energy Limited; http://www.oilvoice.com/member/Jeff-Welch/72f9f5c8e3484c8.aspx Plenty of discussion before but it doesn't take too much digging around to see what's taking shape. Not just at SC, imo