Member Info for Taxibabe

Totally agree Secret. Rising POO means marginal fields get a whole lot less marginal and owners of TURNKEY projects get a lot more reticent about letting them go on the cheap. Bottom line MFDEVCO = a day late and a dollar short. NUOG could not get financing in the bad times and in the good times its gonna be a lot more expensive.

I hope it works out and that you are able to retire with dignity

Yawn sherlock keep up the hyperbole like the market is really listening to you and seadog anyways. We are unimpressed and Mr Market is always right not you or your acolytes

sharelock The Mfdevco deal isn't going to happen soon because the company is worth £14 million on the market which tells all far better then seadog claims about big marginal deals. The other problem is oil prices:. the higher the oil price the less possibility of anyone handing over a oil field, especially a turnkey one. Last throw your a decent man but I am not licking seadogs boots: besides they would be a tad smelly don't you think?

The Shard loan terms allows us to offer equity as far as I am aware. I am not sure whether it can be secured at their option but that is an interesting question

The point is that PVF are in the driving seat with this one all the way not NUOG. NUOG are not putting up any money and PVF will decide everything from who the farmee partner is, to when and how the field will be developed. At best, when all is said and done, PVF and the farmee will end up with almost all the field, less what SHARD insist on for removing their charge on the field. NUOG at best will end up IMOP, with a few crumbs, perhaps they will name the first well Alan 1? Maybe 10% or 20% on a very fine day, less what PVF have spent on the first development well? Interested in other qualified poster opinions although not ROGER or SEADOG who doubtless believe that the 50% that NUOG currently have will remain existential after PVF and the new Farmee sign up.

"We look forward to the production test, the results of which will be used PVF as THEY FINALISE THEIR PLANS for the wider development of the field" We continue our negotiations with PVF to agree a farm-out"......................." Its there in black and White Oh Mr Roger A of a total of 80 posts Lol

it's in the chairman Alan Minty's statement or comment at the end if the RNS. Seabogs baseless ramping on Mfdevco has made a big difference to the share price NOT! Shares down suggests others are also reading this comment like me.

"we continue pur negotiations with PVF As they continue to finalise THEIR development of the field". PVF are in negotiations with potential farmee partners" == translate we have lost control and probably our equity to PVF

PVF are obviously renegotiating their 50% on this well or making sure they have a lien on future wells if and when a farmee signs up.

the transactions were 11 seconds apart one sale and one a buy. it was either a roll over or a bed and breakfast for tax purposes

the two 1.9 mill transactions were bed and breakfasts with 0.15p premium paid

the failings of the company are down to a lack of money which means they are easily blackmailed by PVF and the incestuous relationship between RMLI and the Minty clan and NUOG. The "board's performance", which is actually quite good for so nebulous a concern, has little to do with it. Nuog is between its auditors, shard, and PVF.

great hyperbole all remains to be proven

Yes typo

29/5/13 ENEGI in joint venture with ABT technology quite clear "enegi to fund costs"

no RNS concerning acquisition of Mfdevco 50% by ENEGI 2015

No RRMI is a consultancy with No money it issues invoices and agrees to defer them cause NUOG can't pay all of them all the time; only when it gets a placing away. NUOG is responsible for all of the front end costs of MCbevco as per the Rns in 2015. I suggest you read the RNS Plumper

lots of baseless ramping in Twitter sea dog racey runner wombat aka mcbev. disregard

seadog no one pays any attention to your constant MfDevco rampathon. The whole thing fulls down on a lack of money - its not going to get ventire finding or consortium funding via delayed invoicing unless it get a very substantial rights issue away. that can only happen if GHS becomes a big winner which is up in the air. Even then the Minty's are so risk adverse I doubt they will sign up to it. Most likely, as the 2015 agreement specifies, it will boil down to NUOG and its shareholders to take the risk if Minty opts out.