Member Info for orslega

Blingybird re Gas numbers - see my post below when they announced SC update last week. NCT have circa 52% revenue interest in LM14 (source blog). If the tests results provided translate to revenues that means top line $2.3M so NCT entitled to circa $1.2M. What are the costs? Well NCT have already updated the infrastructure to extract gas - costs sunk and the latest update says they are negotiating gas sales near term. LM14 is a low cost workover so the costs have been paid. No idea on costs of tie in but I expect these not to be significant. NCT have said they will chasing more gas once LM14 producing. Gas revenues near term should be a SC game changer. Gas prices increasing 30%, very good test results and other low cost gaseous sweet spots identified - per RNS - are the drivers imo "Blimey, well no one can say they haven't been busy down at Shoats Creek. Looks like workovers and gas is the name of the game. LM19 successfully completed. When did they announce that they were doing a workover at LM14? They didn't and it looks like to be a HUGE game changer:  Quick calc, pretty sure this is correct.... 2.5 MMcf = 2500 Mcf US$2.50 per Mcf = $6,250 per day  40 barrels * US$45 per barrel = $1,800 per day That's $3M gross per annum........and from LM14 only! NCT have over 50% revenue interest. That's massive news : )  What is our current market cap?! And with gas prices on the rise. Add in the rest of production. Very good news.  Comment on the next planned workovers, more surprises planned (like LM19, LM14). Plenty of other locations identified. No comment from Randy Connally? Are we are about to have a new CEO, temporary Statement from Chairman. Very interesting development, changes afoot imo."

if LM14 on the gas front, that is serious cash in....add in MDF - why would you spend $1M on plant which will sit idle on completion... I know someone will tell us otherwise, lol

stop ramping helpful, lol

DD you serious? lol just look at his posts, you invested in RRR by chance? Mr M is your man there...good luck

ah a 20M buy @0.032...

there is buyer around...... tried 10M, 20M, 30M sells - MMs will take them all at 0.0287

Movement; full ask being paid : )

labratt - the SC update was not written by RC. It was very poorly written, it even talked about LM20 as a well yet to be drilled......bean counter wrote it probably, certainly no-one checked it!

DD77 - how many times do you want him to repeat those answers? Save some board space here - all you need to do is click on his posting history.......tell us how many times he's said the SAME thing...in respect of the questions you are asking??......it's all there....jeez.... Ask him why he invested here that would be more interesting.......he won't answer that......so maybe he's not even invested here, even sadder!

Stuy, you're right, it's really not healthy.

Peckham, lol

As MDF gets closer..... One important point worth noting - not all about relying on drilling activity......other capability : ) “While the plant we are building will serve to remediate drill cuttings, it will also provide a platform to take on remediation work in the greater area, much of which will have little or nothing to do with drilling activity. We will be going after these contracts, large and small, as part of our day to day business in Mexico. I would further highlight that in any land remediation contract, one of the largest cost items is the disposal of contaminated soil and rock. As a result, once complete, our plant will give us a competitive advantage by allowing us to process contaminated soil and rock and capturing this additional revenue in our plant and re-sell the soil and rock, thereby enhancing the already attractive margins of these contracts.”

got to feel even more so for those long suffering RRR shareholders....you still in there Mr M or have you cut and run before the next placing to participate in SC gaseous $$$ wells??

"will also allow MDF to move forward with service contracts previously announced in 2015." So back in April this year it looked like they were trying to unlock those service contracts previously announced but not performed. Here is that announcement, now nearly one year on. Who is the client, someone who is prepared to wait a year? A guess but I think it could be local government.... 11 August 2015 Northcote Energy Ltd (‘Northcote’ or ‘the Company’) First Revenue Generative Business in Mexico Northcote is pleased to announce that Mayan Drilling Fluids (‘MDF’), its joint venture formed to develop a remediation facility in Comalcalco, Mexico, has entered into an agreement whereby it will perform remediation services with a potential value in the region of US$887,500. This work will be undertaken ahead of construction of the facility and utilise the remediation team that MDF already has in place. MDF will operate as a sub-contractor and will be responsible for the remediation services on contaminated land at four different locations spanning approximately 7.4 hectares in total The services are to be completed over the next 3 to 4 months and will be performed using existing resources available to the joint venture The estimated revenues associated with completing the services at all four locations are estimated to be 14.3 million Pesos (US$887,500) Positive cashflow generated by the contract will make a substantial contribution towards the construction of the recently announced remediation facility

Bigtimber, agreed, delivering substantial news, major developments etc needs to managed well. Yes, quite possible that Remediation Plant commissioning now soon underway, 20/4/2016 RNS stated many aspects already completed at that point.....again we don't know what revenues are coming in from the RP but we know they are being re-invested into the plant... 30/6/2016 RNS 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. 20/4/2016 (completed works) Under the supervision of Gaia, the following steps have been completed at the site of the Facility in recent months: Completion of construction pad for the rock and soil processing equipment and further improvements required to support the intended remediation and recycling operations; Acquired and installed a scale on site to weigh oil cuttings brought to the site - this equipment will be used on a continuous 24 hours per day, 7 days per week basis; Have ordered equipment for final completion of facility The existing on-site structure has been re-modelled as the operations office and a dormitory area for use by workers has been built to accommodate the demanding operational tempo of the facility on commissioning; Operational safety and environmental training initiated for key members of the local team to provide for a best-in-class safe and environmentally friendly operation; and, Key water handling and treatment permit obtained in February 2016 by the CONAGUA (National Commission of Water) necessary for commissioning the plant will also allow MDF to move forward with service contracts previously announced in 2015.

yep, just checked.....another 4.5M buy just gone through is also showing as a sell......spread is much tighter than published.... let's have some news and watch the volume then...

today so far, very little volume but there have been 8 trades. 6 have been shown as sells and the last 2 as buys. All 8 trades are actually buys, don't be fooled! (Try some dummy trades. you'll see)

Bigger picture indeed. I have also maintained that the bigger is not Shoats Creek. A nice cash contributor, yes, maybe a company maker if they crack it, especially with gas. RC did to me that say SC will largely tick over in the background - and of course NCT are not the operator. Think MX services JVs, Remediation Plant, etc etc that is imo the big prize for NCT shareholders.

LM20. Having had it farmed in before the latest production to GCW/RR, that could actually have been a very smart move for NCT, having negotiated and gained financial gain pre reduction in production. There could so many different reasons why they have decided to allow the well to produce at 100 bopd. Having sold down a large net revenue interest in LM20, that is no longer the near term focus, as stated in the RNS update. NCT will be concentrating on gas revenues, then on high impact/low cost workovers where they have a much large revenue interest; i.e. currently, LM14 is the one to watch. If tests are substantiated; even if they only reach half the test production, with the other gas tie ins mentioned in the RNS, it should be a gamer changer. imo 'Lutcher Moore #14, (“LM#14) (Frio formation, Northcote 70% WI), now tested 40 bopd and 2.5 million cubic feet (gross) of natural gas production over 24 hours;" NCT Chairman, same RNS "Getting LM#14 and our other Shoats Creek wells producing and tied in for gas sales is our top near term priority, and once we have achieved this we believe that we will be in a position to consider other bores with re-entry potential in gassier pay zones at Shoats Creek, with a potential to generate additional low risk, low cost revenue to Northcote."

is down, updates on the way? (it usually gets take down for updating) https://northcoteenergyresearchblog.wordpress.com