Member Info for steve58

Another update from NXT TEC.

Kwinana project started.

Display home completed.

Development of 400 affordable homes now underway.

Building permit for construction of Wyndham Hotel secured.

I am going to contact them regarding likelihood of an ipo.

Not sure if we keep the producing assets or we have to pay the liquidator.

We will also have to write off the drilling costs to date which are currently in assets. So basically s cash shell with no assets or liabilities.

I hope they can keep the current production albeit about 80 barrels a day from two wells.

They may be able to acquire cheaply from the liquidator.

Could actually work out quote well here.

A cash shell with £20 million plus in tax losses.

The tax losses alone are worth multiple of current sp.

Worth at least three times current mc in tax losses alone.

Good call.

Any potential buyer would probably want a big discount on the tax losses.

Must still be worth a million or more to another company.

It could be that we can acquire these producing assets from the liquidator.

They are both automated so costs extraction costs are low.

Cash in the bank and maybe the producing well.

Not sure about large write down of our investments in Rhein.

Any money the liquidation gets will go to pay of the creditors.

Seems Rhein was insolvent when we originally bought them.

Not sure if we get to keep the 45 barrels a day well or if it gets sold in the liquidation process.

The shares only get suspended if after six months of becoming a cash shell no suitable business can be found. They then get delisted after a further six months.

So they have until about July next year to sort it out.

A cash shell with no debt.

Also over £20 million in tax losses.

That's when the oil business was interesting.

Volume really picking up.

Now over 300 million.

Same here.

Showing .65 definitely some news coming.

At least 15 times current mv.

Interesting months ahead.

Maybe potential investors can see the huge upside if the oil in place can be extracted.

The creditors would be paid off in a matter of months if not sooner.

Would only raise about £400k but if it needs to be done then so be it.

I'm sure they would jump at the chance of a farm in at no cost to us for drilling for 50% of the take.

We have oil in place of at least 7 million barrels.

Even with a 20% extraction rate that's over $100 million.