Member Info for steve58

Maybe not.

Must be getting close to announcement of the liquidation and how much cash we have going forward.

It would be interesting to know what has happened to the two producing wells.

Albeit only about 80 barrels a day.

I'm sure we could have kept them.

About £1.5 million a year income and minimal costs as a lot of the extraction etc is automated.

At 85c aus our current investment is worth about £400,000.

A return of about £120 for every million shares held.

Hoping ipo could be at least $2 a share.

Company hopefully will list in New York on main exchange.

Would hope price would at least double and liquidator sells at a higher price.

Leed paid an average of about 31c a share so could be very good outcome for shareholders.

About 950,000 shares being held by liquidator.

Every £100,000 raised gives shareholders about £30 for every million shares held.

Interesting months ahead.

Type NXT TEC ipo in your browser then click on the first item.

Looks like an ipo is being lined up.

First residential property completed in just over a month.

399 to go just on this one development.

I’m confident that with the way they are moving forward they will hopefully ipo this year.

Could be at a much higher price than we think.

See their website for details.

Leo koot also mentioned in news last year.

Also a director of Beacon Energy.

Another rto looming.

If the liquidation goes to plan and we are a cash shell with no debt then anyone acquiring shares at this price should do very well indeed.

If the liquidation goes to plan and we are left with cash and even the two producing wells the current sp should be left behind.

The two producing wells are fully automated so generate cash quite easily.

Rhein do of course have all of the undeveloped wells. Hopefully even in a distressed market they should recoup most if not all the €7.5 million owed.

It all depends on what happens to the two albeit low producing wells.

If we can retain them by acquiring them from the liquidator then at least we would have about a million pounds income a year.

We also have about £20 million in tax losses which would be worth a few million to any potential buyer.

Interesting few weeks ahead.

If the liquidation goes to plan and we end up with some cash and even the two producing wells we would have about £1 million income a year and no liabilities.

Should have finished by now unless some shareholders turned up and are asking some questions.

The assets look good on paper, however the drilling costs that have been capitalised will be all but written off leaving us with only money in the bank. Not sure if we will keep the producing wells or be able to acquire them from the liquidator.

Maybe the sort of question to be asked at the agm.

Says £750k on London stock exchange should be correct figure to use.

Google probably using the wrong number of shares issued.

Hopefully a shareholder living on IOM will attend AGM and ask a few questions.

Shame it isn't a live one on investor meet.

Update.

Wyndham hotel building permit granted.

Build time 12 months max.

Sign up for NXT TEC newsletters on their website.

Looking like this will IPO in near future imo.

Could be a bit of interest next week in anticipation of the AGM.

Is anyone actually going to go.

Hopefully some shareholders live on IOM.

I have contacted the company regarding a possible IPO.

Good morning to you.

The nxt tec website has some interesting bits on.

I will contact them regarding a possible ipo.

It would be great to put this to bed.