According to the latest company presentation (January 2021) there was supposed to be a Development Study and Economic Analysis carried out in the first half of this year. I'm surprised there was no mention of this in today's update given there is only a week left of H1.
I remember you saying that the amount of shares you held in PERE was approaching a notifiable level. I haven't seen anywhere near the amount of volume over the last couple of weeks that would suggest someone holding 2 to 3% had sold out.
I remember bonker99 being in here a few years back when the share price went from 5.5p, a similar lever to where we are now, to 35p over the space of a few months. I hope we see a similar move this time around
The webcast confirms my option that in Bunn, Struthers and O'Brien, Empire has one of the most experienced and capable management teams amongst AIM listed exploration/development companies. I'm confident they will deliver good results and the share price will take care of itself.
The accounts both have hundreds of posts on the NTOG board and hardly anything elsewhere. Clearly not a successful investor but perhaps his agenda put off others and allowed me to pick up lots of NTOG shares cheaply.
I 'm invested in another stock WSG which has been heavily deramped on LSE by former shareholders who dislike the CEO and they said he would never deliver. Sound familiar? Well today a very juicy contract landed and the share price has started to re-rate. This contract has flagged up for quite a while but the share price has been very subdued although I thought the risk/reward looked excellent.
I'm expecting a similar scenario for NTOG which has so far failed to respond to a huge increase in the oil price. Perhaps news of contract in Tunisia or drilling a new well will be the catalyst but whatever it is I'm confident we'll see a very good return on an investment from the current share price
They did well to pick up additional assets when the oil price was very low. The company has been cashflow positive since December and increasingly so given the large rise in production and oil price since then. The Tunisia project is Steve Staley's initiative. He only joined the company last year and has very considerable experience in the oil & gas industry.
Results were better than expected. 2020 was the worst year in living memory for the oil industry. Despite this the NTOG accounts show a reduced loss compared to 2019.
The results this year will show a massive improvement due to the big increase in the oil price and a rise in production. We know the company became cashflow positive in December which means revenue exceeded all corporate costs. Since December there has been a 26% rise in production, due to the successful drilling of a new well, and the price of oil has increased 42% which will make the company very profitable.