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Yes, best to wait for an announcement rather than believe the outrageous claims of the submarine crew on here.
Rip Van Winkle is also in agreement.......zzzz
I would probably wait for any announcement.
Because the funding is a worry , I think they made a mistake not issuing for say 1m when the sp was alot higher. For me the dilution is a problem esp if they raised at these levels.
But it has given you the opportunity to amass a good size holding. In a share that you have obviously researched significantly.
A good sign of a investor is one who sees value and has the patience to wait for it..
No problem Starbuck fingers crossed for all of us hey. Don't know what your current position is here but good luck if you decided to add more. Yes you would probably get the same amount as myself at a cheaper average (mine is 0.28) however in the absence of any adverse news anyone that tried to buy that sort of amount at this level would likely push this back to over .3 given how oversold this has become.
Twice we have bounced off the low of 0.20-0.21p. Right now it wouldn't take much buying pressure to push this back up. I could add more but am happy sticking just below 5%. Good luck whatever you decide to do....
I agree mcadder.
I 'am not totally righting the investment case off , but it needs to be clear and transparent.
I didn't believe you had invested that kind of amount on a whim, like I say I wish you well with it.
I 'am probably a little to guarded in my approach and sometimes can be misunderstood. I have my views and I have a open mind about things.
I do feel that any deal here from this m cap should do you well . You have timed it quite well, which I congratulate you on.
I can buy alot lower than you at present if I wanted to, so maybe my approach is the better one at this present moment...
Unfortunately Starbuck you are missing the point with regards to my own investment. I invested heavily into Nuog with my eyes wide open as a result of the huge potential for gas to wire which would be a game changer for the company.
I have a realistic but not distorted view in the same way as someone that may be holding say 700k or 7M shares.
I'm not interested in the past performance of the company. Some of my previous investments have
done very well indeed by ignoring the past failures or shortcomings but instead looking at the investment strategy and potential of a company going forward.
You forget that sentiment can lift in a heartbeat which I firmly believe it will here very soon.
Mcadder you are hardly going to agree with me with 70m shares are you. Kind of distorts your oppion. I know I've been there. I mean that it in very sincere way. With respect.
We will see , we will see . Good luck to all let's hope they deliver something to discuss in the very near future. Good luck timbo
Starbuck - think you are out of your depth here sunshine
Assets you state. That nobody has ever wanted this is fact. Until they have a means to make these viable I'll continue to value it's assets at 0. That seems to be the general consensus and why they have a M cap of 3m . With only hardened lth holding or trapped in investors from past endeavour...
It's very relative if you have the brains to realise.
I'll leave it at that for now .
I' am not here to put this company in a bad light , i' am merely making points of discussion.
That the way I see it . It won't amount to much unless this company is transparent. About it's finances and companies that surrounds it....
Starbuck And? What a pointless post....
Shares in issue 8 Billion - yes 8 Billion up from 5 Billion less than a year ago!
Current liabilities - over £30M
Cash flow - 0
Still trying to raise necessary finance likely to be 10s millions to progress their diamonds exploration so yes they have assets but worth nothing unless you can get it out the ground.
We also have assets in the form of licence pl-2002-01(a) and the deep right's licence of el-1070.
PL-2002-01(a) Difference is we have a good understanding of what is down there as a result of previous years drilling, seismic results, flow tests etc. Plus we have the farm in agreement with PVF who agree to cover the costs to production meaning 50/50 revenue split for Nuog and PVF when this does eventually happen.
"all parties remain fully committed to restoring production from the PAP#1-ST#3 well and ongoing operations are not affected by these discussions."
"We are committed to optimising the value of Garden Hill, which in-house subsurface models built up over the years, and acknowledged as the most comprehensive available models of the area, indicate holds up to 97mmboe."
EL-1070 The Deep right's covers an area of 245000 acres with a potential resource far in excess of 97mmboe. Progress on this is closely linked to SPE who have the interest in the shallow right's...... "EL1070 remains in force whilst the parties to the licence pursue the award of a significant discovery licence ('SDL'). These unique circumstances require that any effort to develop the deep rights is coordinated with SPE's activities with respect to the shallow rights"
So technically we do have assets which hopefully one day a proper value can be placed on them. In the meantime we have the huge potential to add to our assets as a company and generate revenue very quickly with gas to wire.
So £1.7M liabilities....hardly earth shattering is it? Once revenue starts being generated that will quickly pale into insignificance.
Starbuck - this is an AIM company we are talking about not a FTSE100 company. Try applying your thesis to about 90% of Aim companies and see what answer you get. If that's your criteria for investing you're in he wrong part of the market. Try a FTSE tracker fund.
Good luck getting any answers from Manchester towers.
Net Asset Value
As investors this calculation is very important. It tells us about the share price and is pretty useful indicator, to tell us if a company is a buy or sell.
Frequently, the term refers to the total value of a company asset (s)divided by its number of shares outstanding. This type of asset (s)value per share is more commonly referred to as "net asset value per share" or simply "net asset value" or "NAV" when liabilities are subtracted.
If we take NUOG with circa 3m cap and 1.7m in liabilities with 1.486m shares in issue , with no current asset(s) value. Without doing the calculation we can clearly see that the share price is actually indicating a sell.
So if Mfdevco seal a deal how would this effect NUOG 'NAV'.
M CAP yes it is possible investors could see more of a investment case. So it's possible that this could increase. ( Unknown )
Assets Not a direct aquasition so Asset(s) value 0
Shares in issue 1.486m (current) again unlikely to go down , possible upward on working capital requirements.
Liabilities 1.7m (unlikely to decrease until revenue generation or see above shares in issue calculation)
Any mfdevco deal is unlikely to effect NUOG 'NAV' ( Net asset value)
Liabilities could go lower at a point in the future revenue flows from 50 percent JV. ( Unknown ). Shares in issue could increase on working capital requirements again ( unknown)
So as investors we need quite significant information, if you are a gambler maybe less.
Until this information is clear and a transparent it is unlikely to attract significant investment.....
I rest my case...what is the point of you guys?
Post recommended. Top man Joey. You’re the man.
As is the constant ramping and copy and pasting of irrelevant information... There is actually no need to bash this share... the Bod are doing a good enough job.
I ask again. What is the motivation for you guys on here and ADVFN endlessly bashing the share? At least there's some rationale for those invested posting positively, though you, with great insight, have no tolerance for this! Please move on if you're not invested... it's more than tedious on both boards.
BTW one point to note regarding the 3 revenue streams....
1 - Upfront payment
2 - Management services contract
3 - SPV equity
One point to note, as stated in the RNS, the management services contract commences at the moment a transaction completes with the SPV. The services contract is for full lifecycle of the project from implementation to decommissioning.
Therefore revenue for MFDevCo begins as soon as the transaction completes as the revenue is service revenue from the SPV, not from the sale of the electricity. So when we talk about first revenue for MFDevCO, we have what i believe will be a sizeable purchase upfront payment, and we will be getting paid for managing implementation through to production and beyond. Project finance will likely be funding the implementation stage. SO the bulk of our profitability from the project will come from the upfront payment and the service contract which kicks in from day 1 rather than the 30% equity in the SPV. But you guys keep going on about lead time.....
If that is not clear enough, the chairmans statement adds to this
I am excited by the potential of MFDevCo's business model and the pace at which negotiations are progressing with operators. Applying technology and innovation to generate value from fields which can potentially be accessed at a low cost, is appropriate for MFDevCo, the Company and its shareholders, compared to the alternative of buying into a development project or production
MFDevCo is aggressively pursuing its exciting gas to wire ("GTW") venture, which is an ideal solution to a pressing need in the market
the Board believes that GTW will position MFDevCo as a first mover in a market with global opportunities and we anticipate significant support from governments
My confidence is increased by the interest MFDevCo has received from operators and speed at which negotiations have progressed with two priority targets
The proposed structure enables projects to be financed without diluting the Company's equity interest in MFDevCo
MFDevCo would earn three sources of revenue for each project the SPV purchases: the initial sales price; payment for services to manage projects; and project revenues as a result of its proposed 30% equity holding in the entity
Utilising existing infrastructure, such as the platform and power infrastructure installed to transmit power generated by offshore windfarms, further reduces capital investment and lead-time to redevelop fields
GTW directly addresses the twin goals of maximising economic recovery from hydrocarbon resources and supporting energy security
Gas is expected to play an increasingly important role as a primary source in meeting the rising energy demand and complements renewable sources to meet increasing energy demand.
It is the opinion of the Board that the opportunities being pursued by MFDevCo have the greatest potential to deliver value for shareholders and for that reason resources are being allocated accordingly
MFDevCo has been advancing multiple projects for some time,
Under the proposed terms, MFDevCo will receive up-front payment for projects and will be further paid for managing projects from the point at which any transaction with the SPV is agreed
I hope that I have made clear to investors our determination to convert the hard work that has been performed hitherto into tangible results. All efforts are being made to create and acquire investable profitable projects. It is my belief that the Company is positioning itself to deliver on that promise in the year ahead.
The Board is confident that the Company's investment in MFDevCo will be rewarded
Pie in the sky stuff .
OGA and Environmental approvals , legal costs and working capital requirements at MFDEVCO. 500k won't touch the sides.
Instead they make working capital payments to NUOG.
That's on top of the 1.7m they already owe RMRI.
If it sounds to good to be true , it usually is ....
Easy to be critical of past RNS releases, but the SPV RNS couldn't spell it out any clearer.....
MFDevCo will offer investment ready projects, along with commercially viable development plans, to the SPV, which will have the right of first refusal
The SPV will remunerate MFDevCo for any projects accepted
In addition, the SPV will agree a contract with MFDevCo to manage all and any projects accepted by the SPV
MFDevCo will further contract its Consortium and Strategic Alliance Partners to provide resources and technical expertise to develop projects accepted by the SPV
Einar will lead efforts, on MFDevCo's behalf, to raise finance for the SPV which will be used to fund the acquisition and development of gas to wire projects
Einar is seeking additional financing for MFDevCo to support the business as it concludes the terms of the SPV with Marnavi and, in parallel, seeks to agree Heads of Terms for the two GTW opportunities where efforts are being concentrated
Provision of seed capital to MFDevCo will reduce Nu-Oil's general and administration overhead incurred through MFDevCo related costs and staff utilisation
Finally, the Company notes that MFDevCo is concentrating efforts on the two priority GTW opportunities where discussions with operators have advanced quickly so far.
The nature of GTW projects enables them to be 'packaged' as a facility (including export route) and sales contract and financed in a manner analogous to shipping financing
prepare a development plan to justify the investment decision
to advance the significant GTW opportunities we are working to conclude
accelerate the development of the 'project pipeline'
As specific gas to wire opportunities take shape, we are now in a position to formalise discussions with potential investors
Einar is seeking financing for MFDevCo to support the business as it concludes the terms of the SPV with Marnavi and, in parallel, seeks to agree Heads of Terms for the two priority GTW opportunities where efforts are being concentrated and discussions with operators are moving quickly
offers of up to £500,000 for immediate funding, subject to the conclusion of the SPV
65MW project over 10 years
work out what it's worth
you think we are going to sell that project to the spv for nothing? The structure of this will bring forward MFDevCo cash flow from the project significantly.
It certainly would be easier if MFDevCo and NUOG were under common ownership. How many companies out there invest in JVs in a similar way. You think they do so knowing they will never get any benefit... please. especially a company that have common management.
Nobody knows you are right about something, but my view is based on hours of understanding discussing and reading, your view is based on trying to support a negative agenda and is much much looser with the facts.
I don't really care if anyone buys or not. The RNS will do the job. And i wont be selling on one deal. I have an understanding on what this can be worth with multiple deals, and i am only concerned with future prospect and not stuck on a view based on bitterness and losses from the past.
Remind me again, Mintedbyyoulotta, other than public-spiritedness, what brings you here, repetitively posting negatively about the prospects?
I agree with the first two lines there Starbuck; nobody knows for sure what will flow to Nuog or when. Hopefully official comms will confirm although I suspect they will indulge in some good old glossing over in the midst of any excitement around the first deal, if and when it arrives.