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Not what the Chairman said Mr M - he gave a big enough steer to shareholders today. "Shoats Creek, which, is now poised to deliver revenue growth and positive operational cash flow." Why would say that? ......imo really no point looking back all the time. Looking forward to the time when you need to play catch.

Headline from the Chairman: "Shoats Creek, which, is now poised to deliver revenue growth and positive operational cash flow." So very solid progress, but largely now out on NCT hands. Workovers I believe are they way forward; LM14 is a big surprise. NCT has a over 50% revenue interest in that well (as with other new workovers taking place per RNS today). Quick point on LM20 - NCT farmed out most of their interest to GCW/RRR, so in revenue terms they only retain 15%. I suspect the current production is geared to market conditions....and longevity....the planned CPR will make that clearer. Now, amongst other things what else is happening at NCT? Start with this, why didn't RC comment this morning? Nobody find that strange?

Each to there own. People invest in AIM because of the potential, AIM is not for you as so many have said. Put it another way, "Lutcher Moore #14: 24-hour test, 40 barrels of oil per day and natural gas at rates of up to 2.5 MMcf/d". Would you say this is material to NCT if those numbers arrive? Blindingly obvious to me. It looks like RRR want to buy in, your favourite person clearly like it.

NCT : ) RRR don't appear, well yet anyway, to be in these wells; from their RNS released just now. "Additional Well Tests Several existing well bores have been identified as having the ability to produce oil and gas and tested as follows: - Lutcher Moore #14: 24-hour test, 40 barrels of oil per day and natural gas at rates of up to 2.5 MMcf/d - Robert Cain #1: 72-hour test, 10-15 barrels of oil per day and natural gas at rates of up to 100 Mcf/d - Robert Cain #2: 72-hour test, 30 barrels oil per day and natural gas at rates of up to 350 Mcf/d Plans to initiate production from these wells are underway by the operator and Red Rock is in discussions to participate in these additional field developments. "

Natural Gas Sales "The project management team is undertaking discussions to tie-in production of natural gas utilizing one of two existing tie-in points located at Shoats Creek Field. 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." Special note for Mr Magic - substantial potential at low cost. How's you gas sales calculation going then........surely it doesn't take that long to work out!! Keep it easy top line revenues based on what NCT have said about LM14 then, right or wrong??

RC would have highlighted precisely that point. The market cap is just plain silly if those expected LM14 numbers filter through.

RC would have highlighted precisely that point. The market cap is just plain silly if those expected LM14 numbers filter through.

helpful, I agree but much low prices meant no one was particularly interested/low confidence; the difference today is that it looks like that LM14 is a very decent producer indeed. The market hasn't seen that but it is there to see. And with more gas tie in planned makes the gas production model very viable and valuable now.

I don't think RC has been anywhere near it. Anybody who reads it will see a glowing error, not difficult to see. LM20 has already been drilled! Nomad should have picked that up.....pay them enough.

No, what I am pointing out is some game changing news on one workover. If you don't think it is significant to NCT really need to do some proper research imo For a change why don't say what you think NCT will make out of LM14? You do the numbers. Just LM14, nothing else. Tell me that the gross revenue figure potential I stated, based on data just provided by the company is nonsense. I await your confirmation that my maths are right. Of course there are costs but look at the bigger picture- there are more gas tie ins planned; marginal costs get lower as they ties more. Mr Negative, as someone said from the RRR board, we're stuck with him. I will be using the filter button shortly.....

"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" 70% working interest....... "Natural Gas Sales The project management team is undertaking discussions to tie-in production of natural gas utilizing one of two existing tie-in points located at Shoats Creek Field. 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." Investors don't the significance of this just yet? If RC had written the RNS he would be shouting from the roof tops.....someone else do the numbers on LM14......that is what I would call a reality check! Excellent news.

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.

Mr M "We must deal in reality" I agree!

Am not invested in GKP but lots of noise this morning. Just looked in there. It looks like GKP is no longer viable unless they can reorganise the borrowings they took on - huge debt is being converted to equity at a massive discount, shareholders are almost wiped out. If they don't agree, the company goes into liquidation. If you drill down on the balance sheet of much smaller O&G companies right now, the above scenario is replicated, whilst on a smaller scale but impact is just the same. Dire. GKP news today highlights the terrible position many companies are facing (not just AIM) as they try and move forward as oil prices stabilise. What is my point? My point is that in this climate companies our size, in our sector would not have been able to raise any loan finance in the last 18 months - lenders doors to O&G sector were firmly shut, they themselves taking billions of loan write-offs with companies defaulting and going bust. No one likes to see dilution and yes of course shareholders have been diluted here (in assets and shares) but at the end of the day NCT is still here (unlike many that have folded, many of those companies who couldn't even be supported for discounted placings). The recent placings have been done to protect the company's assets/opportunities. That imo has been the number one priority otherwise there is nothing. Simples. Yes NCT has disappointed us with the use of funds (entering the MX bidding was very costly and imo a mistake, many shareholders have echoed that); but what's done is done, the today point is that NCT is still here for shareholders is turning the corner on many avenues; imo a the current price is a steal, a huge steal in terms of what should unfold near term. I expect multi- bagging from here, no less. Market cap of £2.8M is just ridiculous. But for completeness this is my opinion - best do your own research though. I can think of one person who won't agree.....

I always reverse the charge, the only way of getting any shareholder perks, ha ha Of course that could all change.

"He continues to pounce on any negativity he can and twists it." precisely Dukey....it get's very tedious.

agreed, it is not significant..... what would be significant though if one was unable to sell shares in larger quantities - but that is not the case, I have just tried....MMs are looking for shares, no doubt about

Oil price The oil price had its best day since April as the report from Opec made pleasing reading especially with regard to draw on the cartel next year. By 2H 2017 they expect the call to be 32.97 m b/d based on GDP growth of 3.1%, 2H 17 on 2H 16 is particularly impressive. The EIA have been less positive but with so many numbers to enter into the process making it pretty much guess work you can pay your money and take your choice. News from the Court of Arbitration regarding the South China Sea came out but this will run and run. After the close the API inventory stats did not make pleasant reading showing a build of 2.2m barrels against expectations of a 3m barrel draw. Oil is down around 60-77 cents this morning and until the EIA stock data is released tonight we won’t know who is right.

yes, volume has been very small indeed - just this last 2 weeks the daily average is just circa 40M i.e. so just £11,500 in value. (circa 400M shares in total, not even 4%) What has been noticeable is that it only takes a small buy, around the 10M to move things. I have experimented quite bit last few weeks to confirm just that. And on stats, the buyers have it by a large margin in recent weeks. Looks like last 8M buy at 0.029 but shown as sell this morning. Same old. Proof: Dummy sell. MMs will take 20M right now at 0.0277. Spread is much closer than that 16.7% published.

LM19/LM9 - always rely on Andrew Bell giving the heads up before he's allowed, lol Noli there was no update that I recall either - it does point to workovers as opposed to new drills...