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Until it's RNSd, RC is CEO... But I believe a select few know the answer to that question..
End of rns posted today no sign of ceo randy Connelly name Has rc now terminated his position with northcote Any one know ??
Dropped the ask like that...I should have checked the live prices...nothing even touched .25 .
I have a certain guy filtered, but still see his name come up here again and again.. I may have to de filter just to get some more laughs.. Poor holders on RRR are so fed up with the guy.. and us NCT holders of course have had enough of his repetitive posts.. Yes, there will eventually be a placing at NCT and no doubt we will get 'I told you so' Tragic, you seriously need to get some counselling and move on. There is a National online therapy link I can provide for you? I used it and managed to slowly wean myself off MXO and StepDownStefan.. :-))
which will . . imo . . likely get diluted
Re: Your 12:41 post Helpful - "NCT have said that LM14 is going to be hooked up and RRR have confirmed that currently LM20 is not " Helpful - "Why would NCT stump up the whole of the $450k and allow RRR and GCW free use of the system to sell their gas?" Well AFAIK LM#14 is not a well that RRR has any participation in (correct me if incorrect). That being the case why would RRR want to stump up any of the infrastructure costs ? Would seem pointless. We might also want to ask why LM#20 isn't being connected for gas when it has been stated all along that it can produce gas. If the LM#14 gas production rates/volumes are anywhere near those being touted from super duper "test results" (lols) then why would NCT want anyone else to participate? Surely better to stump up the (relatively small) costs themselves and take all the profits. Of course if the rates/volumes are not that good in actual production then yes maybe try to get someone else to help stump up the costs. So we come back to the important issue of those "Test Results" vs actual real production rates and volumes. It's worth imo just reviewing the news flow of figures that were touted for LM#20 both in terms of the oil production and gas production: Jan 20th 2015 - "The LM20 produced 24 hour test results of 260 barrels of oil and 500 mcf of natural gas per day" (Source - RRR RNS) Mar 7th 2016- "the well . . . has been tested at a rate as high as 325 barrels of oil per day . . . SCDI has advised that it intends to produce the well consistently at between 200 and 225 BOPD. In addition to oil production, gross natural gas volumes in excess of 250 thousand cubic feet per day" (Source - RRR RNS) July 14th 2016 - "Lutcher Moore #20 ("LM20") now producing 100 barrels of oil per day ("BOPD")" No further mention of gas (Source - RRR RNS) So to recap . . In terms of oil we were told that TESTS showed as much as 325 bopd, that SCDI would run it at 200-225 bopd and then that ACTUAL rate was actually just 100 bopd ! In terms of gas we were told that TESTS showed 500 mcf, then later we were told "in excess of 250 thousand cubic feet per day" and then last production update the gas wasn't mentioned at all. Now the new kid on the block is suddenly LM#14 and once again we have TEST results which the regs here are pumping for all they are worth. Forgive me then if I don't buy the ramping. The ACTUAL rates are what count together with the actual costs of production and the actual take-home revenue produced. This detail is lacking. The crew here would have us invest early on the pure speculation of what those actual results may be. With the recent disappointment of LM#20 still in the air, and the clear warning today of a funding requirement of "less than $450,000", I'm not eager to exchange hard cash for shares which will . . imo . . l
Same views are repeated endlessly on here but only MrMagics posts receive complaints. The fact that they are negative has nothing to do with it though, positive views repeated several times receive no complaints.
colin - no one will disagree with that - however, how many times do you want to hear the same contrarian view? Have a look for yourself...... ...so when someone gives a view, then repeats it several times and then you guessed it, up it pops again and again, jeez (he's being doing precisely that on the RRR board for 4 years, where he is very dissatisfied with Andrew Bell, his CEO; yes for 4 years, beggars belief........some people just accept they've made a bad decision and move on, life too short.... ....you can only then begin to really understand while he has been filtered by many.....
I have learnt in life that you should at least listen to contrarian views even if you disagree with them.
"not to much excitement in one hit, as the party slammers are yet to land" ....like the sound of party slammers, i have an idea : ) : )
Stroll on fella your sort not needed here. Filter all, let's talk nct not some saddo.
yes, looks like someone's at SCDI is getting a strong grip on SC "Eddie" been around since last November but Stephen Brock only there in official capacity since 13th June 2016. http://coraweb.sos.la.gov/commercialsearch/CommercialSearchDetails.aspx?CharterID=462543_HT93
looks like MMs collecting some shares - can sell anything up to 20M straight off..
" If I was Andrew Bell, I would want part of LM14 and the other workovers." Maybe Shoats Creek might provide him with an opportunity to reward his very long suffering and disillusioned shareholders; even better he would simply be an investor so have no control, his shareholders would definitely like that, lol
Maybe but I am pretty sure that RRR and GCW know what needs doing. Unless they participate, they can't sell their gas. One way or the other they will have to pay and pay a lot. If they end up a participating in four or five wells, it will be well worth it to them. If I was Andrew Bell, I would want part of LM14 and the other workovers.
Helpful, you are being too nice to Tragic, lol Not missing his lack of contribution one bit; can someone please let me know when he says something positive ha ha
I am quite convinced there is no point in explaining anything to you but nonetheless here goes: NCT is not the sole investor in Shoats Creek: it has two partners RRR and GCW. RRR and GCW are investors in some of the wells but not all. Currently NCT, RRR and GCW cannot sell gas; NCT now has an agreement but they need the piping in place and the tap in hooked up. The estimated cost of the work is less than $450k. Why would NCT stump up the whole of the $450k and allow RRR and GCW free use of the system to sell their gas? NCT have said that LM14 is going to be hooked up and RRR have confirmed that currently LM20 is not going to be hooked up. If NCT funds the whole of the $450k it will just hook up LM14, RC#1 and RC#2 and the other workovers that it owns. Because the oil price has softened, the stabilised production at LM20 is lower and the gas price has gone up, selling the gas has become more important. What happens next is down to commercial negotiation: Q1 how soon do RRR and GCW want LM19, LM20, LM21 and LM22 hooked up and what is it worth to them? Answer is, a lot Q2 if they are going to fund either all or part of the $450k do they want exposure to the oil and gas from the workovers? What is it worth to them? Answer based on LM14 is, a lot. NCT has just proved that LM14 is worth a lot to it and that it makes sense just to hook up its workovers. The ball is now in RRR's and GCW's half of the court. RRR has said it will update the market shortly. Today's RNS by NCT was NCT playing hard ball and making it quite clear it was worth going ahead purely for LM14 to which RRR and GCW have no exposure. You should be worried about RRR not NCT. Randy was too nice. IMHO DYOR
This was previously discussed when NCT released the initial test results of LM14, how much it has been underplayed. But worth recapping what Aminex thought they had at LM14 (P1 Reserves). Their report stated referencing LM14 only: Oil = 18,000 barrels Gas = 175 Million standard cubic feet So that was then, today we hear: Oil = 120,000 barrels Gas = 750 Million standard cubic feet So nearly 7 times more oil and over 4 times more gas than Aminex reported. What else Aminex get wrong which SCDI/NCT know about? That is a huge uplift by any standard. Modern techniques and technology would have helped to re-assess. So NCT talk about bigger gaseous zones, looks like they know a lot more than they are saying right now. Very happy about that. For once NCT are holding the key cards I believe. No wonder there is much interest in NCT acreage, one or two watching closely; no worries about financing the cost of the gas tie in.....imo
Glennyboy - "Final results 30th June" Are you refering to the mention in there of the previous placing in April which raised GBP 500,000 ? That money was for the Mayan Drilling Fluids remediation plant and working capital. Aside from that the Final Results you mention also stated that NCT expended $4.3m in "Other Administrative Expenses" for the year which equates to approx $360,000 per month or GBP 272,000. We are now at the end of July so at the above rate expenses alone for May and June would be more than GBP 500,000 (if costs have not been cut). If you think those numbers are incorrect by all means highlight.
http://www.oilandgas360.com/yuma-energy-inc-announces-successful-completion-of-its-talbot-23-1-well-and-provides-an-operational-update/ Maybe NCT could sell them the rights to the Hackberry at Shoats Creek?
http://www.investegate.co.uk/articlePrint.aspx?id=200004130702110187J "The seismic programme around Vinton defined strong leads in the Miocene, Frio and Hackberry formations" http://www.aminex-plc.com/FCKuploads/file/publications/140806_Circular%20for%20Proposed%20Disposal%20of%20Aminex%20USA%20Inc%20and%20Notice%20of%20General%20Meeting.pdf So Aminex was interested in the Hackberry at Vinton Dome but not at Shoats Creek. DYOR
I notice that they say they target the Hackberry. That is the formation into which NCT is injecting its Salt Water so that means the Hackberry is present at the Shoats Creek acreage that NCT has. Is this an unexploited zone at SC? https://books.google.co.uk/books?id=aew0AQAAMAAJ&pg=SA4-PA2&lpg=SA4-PA2&dq=oil+production+hackberry+louisiana&source=bl&ots=cm1PFeadWC&sig=p0N2AeykSCuwj54kXefllfp3ZKw&hl=en&sa=X&ved=0ahUKEwjcmauG9ZXOAhXDIMAKHRhUCssQ6AEISTAH#v=onepage&q=oil%20production%20hackberry%20louisiana&f=false
http://www.yumaenergyinc.com/ These people should know better than most what SC is really worth.
We are also due at update on the Remediation Plant - the plant should now be complete (per RNS) and in the commissioning stage; but very good to see revenues have started. "As of June 30, 2016 commercial operations utilizing a portion of the facilities at our remediation plant have been initiated. The revenues generated will be reinvested into future expansion of the remediation plant, which can easily be scaled up to meet expected increases in demand both in Tabasco and across the country."