Member Info for orslega

lol, just noticed Mr M comment last night... "why did we " the corporate "we" - has Mr M succumbed to buying some NCT shares?...would actually not surprise or maybe he's been in for a while, that's more likely and explains much. As a shareholder of RRR all he does there is just knock the company he chose to invest in on almost every opportunity, many must see that as not balanced, probably that is the way he releases his frustration. Wonder just when that started. Anyway, on topic and following that line, it actually makes sense that he is invested here. That also answers the question a number of posters have asked but he refuses to say. Not sure why though. Don't worry Mr M there are plenty of other disgruntled shareholders, not just you, the difference being there are quite a few who think NCT are on track to get out of this rut. Looking forward to the time when we can have much more constructive and relevant discussions (like yesterday on Shoats Creek workover opportunities) when news arrives. Tick tock....very soon imo

Peckham makes a very valid and often overlooked point - unlike many oil minors who have gone bust in the last 12 months and shareholders losing everything, fact - NCT have just about kept head above water and in doing so those assets they have and those projects they have been working on have been protected - for shareholders today. "The fact they managed to raise money in the market when lots more just couldn't shows the quality of its assets."

"The RRR share priced dipped after that initial fund raise but within 3 weeks of the fund raising, the market cap increased substantially (relative to RRR pre consolidation) to £2.74M (392M x 0.7) on 20/5/2016, so over 3 times pre consolidation." So £900K market cap pre placing + £500 placing =£1.4M; market cap on 20/5/2016 after placing = £2.74M. So adding in the placing receipt, a near doubling of market cap, not insubstantial on no news. (Imo the increase in oil prices would not have any significant impact on RRR as Shoats Creek interest is small relative to its other investments). Now getting bacj to the whole point why companies do this, the real unanswered hyperthetical question is what would the market cap of RRR be around or shortly after the consolidation IF they had announced big news? Would they have held onto and grown their market cap - I think they would have. (As I said when first posting this analogy RRR is a bad example but they have recently gone through it) - there are plenty of examples where companies have done a consolidation and in the right circumstances has benefited shareholders. Even if Mr M cannot see that the professionals who advise in this area can.

spikey I understand the "cash in" needs adjusting, obviously; the key point I was trying to make was that RRR did a consolidation 1) because they needed to corporate wise and 2) there was no significant news to launch it.

"The simpler option is for the BOD to add plenty of real value to the company and then the SP will rise of its own" I have said I expect the share price to rise based on performance - but I have also said that there are too many shares in issue and this would be excellent time to consolidate. That strategy is proven in corporate governance with the right ingredients - plenty of examples. So unlike your slant It can actually be a big positive Mr M; but I understand your RRR experience, as I said in my earlier post, RRR, as their LTHs have noted did a consolidation for other reasons which would never benefit their shareholders. That's the BIG difference here, imo I am preparing myself for good news Mr M. Consolation based on solid foundation is a very good move. That is my view, others who specialise in that area. But if NCT decide they can address shareholder value without consolidation, I have no problem with that. They will take professional advice and make the right decision, I'm sure. I would be not adverse to share buy backs (to reduce share count) as revenues start to grow. Northcote (BVI registered company) are not guided by the UK Companies Act do not need any reserves to do precisely that so. Lets see what transpires on the news front first and explore this more then.

could have said all of that in a few words... Less shares means (hopefully) more value! ha ha

Following on, I have had a quick look at RRR market cap pre and post consolidation, movements in market cap etc. So, I see RRR had 6 billion shares which got consolidated into 241M share in December 2015 (basically shareholders got 1 share for every 25 held) 18/12/2015 - Market cap before consolidation - 6B shares x 0.015 = £900K And after, 8/1/2016 - 241M shares x 0.45 = £1.085M So 20% initial uplift in market cap but without news of any significance. February March April 2016 some news, sale of investment, Shoats Creek participation, but no great shakes, the market cap on 28/4/2016 was £1.32M (241M x 0.55). So at that point, nearly 50% up on the market cap pre consolidation. Then on 29/4/2016 I see further funds were raised (no surprise there) and the number of shares issued increased to 392M. The RRR share priced dipped after that initial fund raise but within 3 weeks of the fund raising, the market cap increased substantially (relative to RRR pre consolidation) to £2.74M (392M x 0.7) on 20/5/2016, so over 3 times pre consolidation. Since 20/5/2016 there has been no news of any significance either way and as one might expect the price has drifted (as usual with AIM) back to £1.65M. But even so their current market cap 6 months after doing their consolidation and fund raise is still not far short of doubling their pre consolidation position. On no real significant news. So, the burning question is, IF Northcote do have major news items in their pipeline, a consolidation of shares now imo would be a very good move, market cap wise, imo At Northcote, I fancy a 50:1 consolidation, that would still mean 200M shares in issue, which consolidated would mean a current share price 1.5p each (50 x 0.03) but still a miserly £3M market cap : ( ps Blingybird, don't worry, if that were to happen you'll still be a 3% shareholder, just a lot less shares.......sweats off, lol

soon time I think to raise that thorny subject of a share consolidation which has been discussed a few times here over time. I know some will say who cares about the billions of shares in issue, the important point is the company's market cap. I understand that but when a company turns the corner, i.e. revenues are growing, pipeline opportunities get converted into sustainable business streams etc then I think in the interests of new investors (hopefully) looking to invest, is for the BoD to properly consider the merits a possible share consolidation. It's very much all about timing, and if dealt with properly could provide shareholder and company benefits. As posted here before I have expressed my views to NCT but so far it has fallen on deaf ears, lol imo now is the time for the BoD to give this a good airing. You can see many articles about the pros and cons of share consolidations on the web etc etc, but there is a common view along these lines and plenty of examples where a company's share price has benefited, vis a vis: "Share consolidations are not all bad, though. If they are done at the time of a significant deal or when the company is demonstrating that it can grow its business then there is no reason for the share price to fall." Above is from the article below, a balanced overview of companies who have chosen to do a consolidation. http://www.iii.co.uk/articles/263402/aim-share-consolidations%3A-winners-and-losers Any potential new investors looking in here over the coming months will, well hopefully, like what's unfolding news wise but may be concerned about the number of shares in issue. Certainly I usually look at the number of shares in issue of any company I'm interested in investing in before going any further. Fact, and particularly AIM, billions of shares is a huge turn off for potential investors. So for me, tidying that up would be very sensible, and a pretty easy fix. Of course there will be those who say a consolidation is a slippery slope (wait for Mr M to pop up withe the RRR saga, lol) however, what I am saying is that imo of a company is genuinely turning the corner (like I believe Northcote is right now) then I would expect any BoD to seriously consider a consolidation. Just out of interest (raining, no gardening : ) ) I'll take a quick look at the impact a consolidation had on RRR but frankly that is not good example because I see that firstly there was no major news flow at the time of their consolidation and also note that they have since raised again not long after consolidation. imo RRR has done their consolidation for other non attractive reasons, I'll say that before Mr M knocks his own CEO, lol

2016 Shoats Creek Work Programme announce in March 2016 RNS "Negotiation of a natural gas contract and installation of necessary equipment to permit sales of natural gas" So 3 months on, and with rising gas prices it could well be a runner.....to negotiate a natural gas contract they must have envisaged a reasonable supply...

Great info Noli; now all we need is update, cannot help but think that they have been busier than most think, fingers crossed on that front : )

Interesting info: "In Aminex’s acreage, one well, the Robert Cain-1, produced into the first quarter of 2014, and is currently off-production awaiting workover. " Just one well of many that could now be the target of a low cost workover, like LM19. I saw that Aminex report a while back - plenty of potential targets identified by Aminex with 3D seismic - but Aminex pulled out with a refocus of opportunities in Tanzania. Now that Louisiana sweet is achieving over $50, potentially some lucrative low cost workovers. Keep in mind that Northcote (and now their partners) have/will have spent quite a large sum in shoring up the infrastructure to support increased oil production (no doubt at State of Louisiana request). Gotta be raining, markets are closed, lol

" This share hasn't delivered what I hoped but there is still alot to look at and many possibilities." Agreed on all accounts. News imo has to be very close - who knows that news (i expect on a number of fronts) might just persuade you to hang around. Fingers crossed it does, long termers need some cheer!

"really?" says the Nomad....give me the evidence...ha ha

agreed; convincing the Nomad is not easy these days...

some odd share action today, anyway, since when has been a Strong Buy? lol "The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. " http://www.redmayne.co.uk/research/securitydetails/summary.htm?tkr=NCT (And never heard of Redmayne)

lol, all channels resumed - looks like market makers held back on publishing a delayed 10M sale from an hour ago.... What this tells me is that there aren't that many shares in the MMs hand. The real spread is less than the published 10% spread. Which bodes well imo when news flow arrives.....MMs will be after a few (advice if you want to hang around then cancel any stop losses otherwise when there is volatility you'll be looking at an empty share account before you know it....imo)

really strange, now cannot buy even £500 or £250 - straight to no trade (as a dummy buy)

it is 0.27 to buy - just tried a dummy. But will only allow £500 worth....try and buy £1,000 and it goes straight to No Trade. MMs would make you think otherwise, usual shenanigans.

good post bigtimber, a pretty formidable team when you look at it like that way; these things take time to build and we are year plus into that.......bring on the perfect MX storm : ) (like the sound of "Fast Eddie", things might start to move quickly then, lol)

in case anyone's wondering, the whole of the £750K placing money raised in November last year was used in the infrastructure at Shoats Creek in preparation for increased production. See relevant RNS, (and note, no mention of general working capital for the doubters ha ha). The fact is that the State of Louisiana almost insisted on these works before allowing field development. Have a look at the blog link below, scroll down to the bottom and you see infrastructure pics - and note specifically the storage new tanks built which have a stated capacity of 1,500 bopd; https://northcoteenergyresearchblog.wordpress.com/shoats-creek-2/