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Current spread is a nonsense as when I did a dummy trade on TD Waterhouse it offered me a price of 3.05p to buy and yet spread on ADVFN was 2.5-3.75p. Need to get the rights offer out of the way and it will settle down. My assumption is we need to be in this one for the long haul and it could pay back very big. I currently hold nearly 500k shares and average price now just over 4p.
I have also taken up the open offer. Like Mickey I hold a lot of trust in KB we can trust him.
At last some good news and a positive way forwards. This really does stabilise the company and aloes is time to realise the value of Italy.
market cap now £2.7m - let's hope Keith Bush looks for interested parties in the assets as they have to be worth significantly more than current company valuation. Mickey have you written to KB ?
Yes Canada has to get flowing soon otherwise we can't cover costs and a rights issue would not be supported. I luckily only have a small holding at just over 8p so I'm in favour of takeover of assets.
Mickey I think we have to now hope that someone comes in and buys the assets. NOP seem to have some good assets, that over time will I'm sure will be commercially very viable. With $3m cash on the balance sheet I would now hope that KB at least looks for options to sell the assets or see if a takeover would be the best option for shareholders.
Based on current SP we would be better to sell all the assets and close this company down. Very poor communication from this BOD. Anyone got the CEO's email address ?
Here's the tree shake - mm's need shares - hold tight !
Any thoughts on NOP as positive news flows through. Such a low market cap surely we could see 14p plus by end Q3 ? Suggestions welcomed.
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Not sure why you would sell now. Vislink has no debt, has cash, pays a good dividend, revenue is growing, is in a niche sector, has entered a growth phase, and due to Pebble Beach has reoccurring revenue at high margin. On top of this they have a great tie up with GroPro ! I'm not selling !
Twitter account is under barondaytrading. He is a very well known and experienced trader.
In March we wrote that the AIM quoted E & P Northern Petroleum appeared to have pulled off a coup by bagging Shell for a farm in for one of its Italian permits. We added at the time the caution that, of course, the deal was dependent on Italian approvals, which never seem to come quickly for Northern; or for that matter other foreign operators in Italy. Moreover, it is not the first time Northern has struck farm-out terms with Shell in Italy, which proved abortive. Recently, however, earlier in May, Northern announced that the deal had gone through. This brought some welcome news flow to a portfolio that in Italy had lain dormant for too long. It did no harm to the share price either. The shares in the company rose 11 per cent on day of the announcement to 6p. Unlike the previous deal with Shell, which concerned one of Northern’s permits off Sicily, a transaction that came to naught when the supergiant declined to drill an exploration well, this farm-out involves the onshore Cascina Alberto permit in the prolific Po Valley. Cascina Alberto was formally awarded to Northern last summer after many years of being stalled at the application stage. The involvement of Shell is telling: this was an ex-Eni project that attracted Enterprise Oil as farm-in partner in 2000 with Enterprise interested in the Gattinara prospect that it saw as a potential look-alike of the large Villafortuna-Trecate oilfield some 25 km to the southeast. Shell, of course, later bought up Enterprise Oil and will consequently have insight into the thinking behind the prospectivity of these lands. Northern has agreed to farm-out an 80 per cent stake in return for a useful US$850,000 cash payment and an exploration carry worth up to US$54 million. Shell will carry Northern through a seismic shoot up to US$4 million and an exploration well up to a cap of US$50 million. Shell will also retain a pre-emptive right over Northern’s remaining interest in the Cascina Alberto permit should there be corporate or asset deals – a sign of the times. Northern’s CEO Keith Bush hailed the deal, saying it “demonstrates the value inherent in Northern’s Italian asset portfolio”. Since the news shares the shares have come back to close at 4.75p last Friday. The climate fort small cap oil and gas E&Ps is still poor, despite the recent oil price rise. But investors will now be hoping that this deal is followed by other farm-outs across the company’s sizeable portfolio in Italy. There is a lot of potential here – particularly in the Adriatic.
Takeover on the way ? I'm hearing this is what is driving the share price movement today. Could it be Parkmead who have just raised cash ? Anyone else hearing anything?
Nice progress from NOP today. Liked the interview with KB. Looks like NOP will soon be at break even and upside still left in Canada. As Bush says the shareholder real potential is Italy. http://t.co/wahccS9C2W
I like the incentive plan linked to shareholder value (namely the SP). These type schemes are very effective in my opinion - look at what happened to TNI when they introduced a similar scheme.
Best thing in the update is revenue growth of CAGR low to mid single digit over next 3 years. If you add in the 3bn cost savings to this margins will rise at the same time so Operating Income and free cash flow will increase. The dividend maintained at 80p annually also very welcome and the special dividend will be circa 20p in Q4. This is a great income play and we should also see some SP increase, so all in a great investment to be in.
A friend is a commodities trader and he tells me expectation is that prices will gradually rise over next couple of years. On the assumption NOP gets back to 400-500 bpd online from Canada and based on the lower cost base my calculations suggest we can become cash generative. This would make the current market cap very cheap. All other thoughts welcome.
Chart looks strong on this now and when we get oil back online the share will go up. Most predictions suggest NOP worth 11p in the short term.
It wasn't a mare jump you have been looking at the mid price. You need to look at the buy and sell price as mid price often is all over the place. In reality earlier today the mid price was high for no apparent reason as the spread was huge. If you are long on POL best to look and follow the sell price.