Member Info for Taxibabe

interesting

I said we would be lucky to retain 20% but got aggressively told it would be 50 % to 60%. looks like I was closer to reality as usual.

inothetwords jam tomorrow again ROFL? no one has ever concluded a marginal field deal and there is no guarantee that anyone ever will.

freenanpro stated that garden hill would "help facilitate Mfdevco" and whatever he says must be right right?🤣 he is after all one of the more optimistic. posters is he not?

it's a non binding agreement and obviously contingent on finding farmee partner as PVF don't have 17 mill dollars. Plus Nuog have signed away 70%, assuming a farmee turns up after the obviously dragged out flow test work. The impression given is that PVF have NUOG over the proverbial barrel so to speak. In any event now the flow test will start shortly on what is obviously a problematic well, which is why the need to drill another one after seismic has been done. All this is going to take a long time, maybe 1 or 2 years whjch is why people saw a chance to get out and did so. Mfdevco, whose finding is largely contingent on GHS, will only come much later. In sum ramp over and a placing required some time in June

Lots of half truths and wrong information in the Sea Dog post GHS "24 mill barrels recovered" that is the best estimate as in the most that could be recovered but the more realistic level is 6-12 million barrels. Then also its unlikely after farm in that NUOG will retain more then 20%. Again we wont know until the well has flowed for 30 plus days before its viable and can attract a farm-in. PVF is however a real obstacle in NUOG getting much tangible benefit from the well as they have written themselves into the script in perpetuity. Not only for this wel but any others on this field. EL1070 Nuog has done a deal with the G2 which is basically another paper tiger like MFDevco. No money and lots of talk. Its further unlikely to get financing to drill because everyone that has invested with Langdon (see Canadian Imperial Venture and Shoal Point) has lost their money. Helvick and Dunmore MfDevco may have an option on 10% but 10% of nothing is er nothing? Marginal fields. Seadog is absolutely right that many oil fields were not developed but wrong as to why. Marginal means different things to me then it does to him, To him marginal means that some latter day alchemist, like MFDevco, can come along and somehow make an unviable oil field with bad geology good? Personally, I would rather doubt that but Minty says it can be done. The market however clearly doubts his assurances and so the jury is out on that one. Overall lots of risk and very little tangible. Its a good thing that SEADOG keeps posting his optimistic posts or this would be down to 0.7p

yeah I would be cheaper. I would say as follows "we made a number of tenders and seemed close to closing one deal in 2015 but unfortunately a little thing called 'reality' i.e lack of money, precluded us from completing the deal. That remains the case today but the next big thing i.e the legacy asset of GHS, where despite the fact it has not flowed consistently since it was drilled in 1995, we have high hopes that it wiĺl get us out of this conundrum. Unfortunately we have no money to develop this asset either so we are going to have to sign most of it away, assuming the farmee partner is interested after we flow it for 90 days. We have also been endeavouring to contact George Langdon and his mate, the so called G2, since signed up with them and we have high hopes that they will secure funding to develop el1070. After all with their track record in newfoundland who wouldn't want to invest.? Was that good for you?

they employed a front man to take the heat of burton if it goes pear shaped

vale 121 spot on

Humility from Seadog surely not? The man who was always so sure now doesn't know whata taking so long?😚 Well I dont either but i can guess PVF are negotiating or renegotiating their end of it.

I agree with your figures oil Spartan. 6 to 15 mill if sustained. Sustainability is a big issue here and that is why the farmee has demanded a 30-90 day flow test instead of the previously mooted 15-30 day test. PVF will also of course want a piece of any pie which is why their agreement wrote themselves in to script for future wells: not just this one. A farmee won't want to use a 3 man band like PvF so making the negotiations more complex and further reducing the amount that NUOG will retain. I am guessing but to bow out of the field they will demand a nice override of every well drilled. Oh dear !

seadog to test the field properly will require a mass 3 or 4 well campaign costing circa 50-70 mill dollars. What more evidence do I need? Needless to say shard who have secured their 1.7 mill loan on garden hill will also want a good piece of the pie. That is the reason presumably that they bothered to give enegi a loan to get itself out of the self inflicted hot water with black spruce.

seadog the managing of expectations starts? in the wake of the imminent reduction of NUOG equity in the field in the wake of the mooted farm in and the lifting of the SHARD charge. I reckon if they are left with 20% it will be a lot. Yawn

The share price is the only benchmark Twitter polls are absolute howlers - everyone remember the URU poll - it should.be 77p now based on that

premier is first division oil company NUOG is an aim hopeful or wannabe with no current oil or deals yawn

sold half kept half now wishing I sold the lot. not expecting much now if it drops another 10 percent I am out

what RNS? nine expected for 100 days or so

Point taken but I think much if not all of this is in the price. As the posters keep saying its gone up from 007p to 1.p on the back of the rekindling of the Newfoundland story. MFdevco cannot, in my view, take place before the GHS story proves productive enough to allow a right issue; at least that is my take on it. Yes, I know some of the consortium members have agreed to front some work, and delayed invoicing and venture capital funding has been mooted, but without MFDEVCO having financial backing its unlikely that it will go ahead. Shard will also need to be dealt with. Its a very complicated and tangled web, not least because MFDEVCO is a private company half owned by the Mintys. Everything about them smells risk adverse and I think that they will be unwilling to sign up to anything especially when they are drawing fees through RMLI and salaries from both MFDEVCO and NUOG without taking any risk whatsover. I wouldnt either.

How can rising POO be good for NUOG'S projects as Bygraves maintains when they have not signed a single deal? I think he means good for the chances of signing off one but even so it seems misleading.

there was 2.6 mill sold and 1 mill purchased and now another 2 odd mill sold hence price has dropped. Your so wrong as usual my ramping friend GGGG21