Member Info for Taxibabe

Actually I prefer my fish off the bone and don't see this latest claim or wheeze as adding anything to the basic unviable nature of EL1070. The bit that is likely to be viable is OFFSHORE and would cost a fortune to develop. The bit on shore needs fracking and even then it is important to note that the NEWFOUNDLAND board report CNSOP stated "It is not a game changer for Newfoundland"

Well we can forget about Barry's claims regarding EL1070 and shoal point. The conservatives lost the election, albeit with an enhanced minority so no change on the fracking ban can be expected.

Your acting like green point shale has never been drilled barry. It was drilled and it failed to flow. It needed fracking and that is banned. Even if the conservatives win this lifting of the ban wont be instant. Company is running out of cash and will soon need another rights issue. Shoal point shares are down from 66 cents to 4 cents not exactly a confidence inspiring performance! You need to post that stuff on the investors village site where other like minded investors can lap your rubbish up.

Could be but I dont think its going to be instant. Possibly in the summer some time but more likely in September. Things go slow or stop in the summer months as execs take their families on holiday ect.

Yes totally bankable. Quick I must go and order my bentley continential on the back of LT'S postings. Curiously, a man who says he has £700.000 worth of NUOG resorting to a bank loan for a car? Surely, a car would be chump change for a man in his position? Must be a hell of a car. Hope it all goes well for him and he pays off his loan with cash - I dont think the garage will take NUOG shares as collateral though

interesting that URU has now been suspended for failure if the If I URU previous auditors to provide information to the current auditors. Lots of people had shares in URU as well as NUOG and will be interesting to see if they all wake up to the risks of trading aim stocks on Monday and decide to lock in some profit or retrieve some capital? .

Thanks for clarifying

Can anyone of are more balanced posters e.g SBP advise what problems and delays are likely to occur to get any Mfdevco deal signed off by the Brazil regulator? One thing I would have thought they would be concerned about is the downside in the event of pil spillage from an event like the BP mocando disaster. Sure insurance is available, for a price, but nevertheless its unlikely to cover everything. Capital adequacy for offshore drilling could this be a problem? What about lack of transparency- Mfdevco is not a public company? What about the tangled ownership and so on? Not sure the Brazilians are going to be enthused about the track record of the directors? What do people think?

In actual fact if you read the post carefullly they talk about a stake of 10.3 % and not ending up keeping that. This suggests that the actual amount that MFDEVCO would end up with, if the deal was approved by the regulator, is a lot less then that; maybe 2-4% So much for Mr Sea Dogs postulations of an equity deal of 50% of Tubello Martello! However, I would grant you that the possibility of a minor royalty in the few percent range is a lot more credible then the 50% equity deal previously mooted by SEADOG et all. Also, if the first deal got off the ground, NUOG could do other deals, e.g in the North Sea, for a few percent there also. In the end a few percent of say a dozen producing oil fields would be a reasonable return for shareholders after MonPerson Consulting, and the salaries of NUOG were paid. Nothing like the 10s of pence or pound previously suggested by some ramping posters though. Hence, the market's muted reaction to the revelations.

Should read "Ok I hear you say a Royalty share is better then nothing but is it realistic".

Totally agree SBP. NUOG have been "parsimonious with the communications" about adverse events for a long time now. the reality is that PVF have obviously abandoned the site and their 75 day option failed to find an interested backer. Instead, of owning up to this we got words about the "lack of infrastructure" and the need for a consortium approach, (read excuses and the need for lots of money). Suddenly, as if by magic, the focus was in a deal for MFDEVCO "in short order". Big hints about Brazil blah blah which were then shot down by Dommo Energia. Now the company shills on twitter are saying it was'nt Dommo Energia after all but "the bond holders that MFDEVCO is dealing with" Really? I assume the bond holders are going to agree to sign off their share in a huge Brazilian oil field to a company with £25 in the bank and the promise of deferred invoicing from COSL and other companies? Non recourse lending is available I here them say. Really,? I am sure that venture capitalists are going to lend 10s or 100s of millions of dollars to MFDEVCO to buy a valuable asset because of NUOG'S and MFDEVCO's impressive track record. Ah but the idea is "scalable" so SEA DOG says. Really? Like Everest is scalable to a 5 year old on crutches. Underpinning all these hopes and dreams is the idea that someone somewhere will give NUOG lots of money to do pursue these grand schemes Wait a minute surely if venture capitalists have that sort of money why don't they do the deal themselves? At best, one suspects, it might be possible to get some sort of royalty for putting the deal together but an equity share? Ok I hear you all say a equity share is better then nothing but is it realistic ? Well maybe but so far the jury is very much out on that one and the money in the coffers must be running short. Every deal that MFDEVCO puts in for costs a lot of money to NUOG exclusively. But we only get 50% of any royalty which in itself hardly inspires confidence. No institutional or non recourse lending money is going to want to back NUOG under those circumstances and I cant see them wanting to back MFDEVCO either. The situation fails on corporate governance concerns in my opinion.

I said that I thought the Dommo tipped off or steered institutional investors that the rise in the shares had no basis and they sold and collapsed the price IMOP only to be given abuse by Seadog who claims to have "reported me" for the "misleading post". As it turns out Dommo did even more then that by releasing an RNS dismissing the rise as groundless. So we now all know there was and is no deal even though Seadog and others have been shouting it to the rooftops and rounding on anyone who says there isnt in their opinion. Either way the Dommo energia RNS, and the subsequent fall in the share price make it clear that, even if there is any deal, its only at a very early stage.

ha ha I was right about the thing only I thought they had tipped off large share holders and not the whole market. So much for Seabog dismissals and accusations of making it up. Guy loves a dream world but dommo energia is a properly run company and doesn't indulge people's fantasies.

I wonder whether there is a link with Polemos which seems to be hardening this PM?

PS that's why one puts IMOP at the end of the post like I did. It's my opinion full stop

PS that's why one puts IMOP at the end of the post like I did. It's my opinion full stop

yeah a big drop without news. I am out see ya later

I agree a day or two to allow the market makers to assess the value of the deal and for institutions to do the same. An orderly market is what is required here and also to allow the regulators to assess if any brokers or players have commitments they cant meet.

Sounds good maybe I get another 150k shares for 1500 stg

might buy another 100k shares monday