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labratt "when they have clearly had a great result that it is totally underplayed. " The penny is dropping I see - if RC had written the RNS about LM14, the market might get it a bit more. Underplay is imo is an understatement. There are also things I cannot say here : )
Can confirm 8750000 was my buy, time I averaged down I thought
Received further replies regarding lm14, would urge others that are interested to contact the company and ask why they are not including these details in the RNS as I have. Due to lse rules cannot post the reply but it is incredibly frustrating when they have clearly had a great result that it is totally underplayed. http://www.aminex-plc.com/FCKuploads/file/publications/140806_Circular%20for%20Proposed%20Disposal%20of%20Aminex%20USA%20Inc%20and%20Notice%20of%20General%20Meeting.pdf page 56 has p1 reserves at 18Mbbls of oil and 175MMcf of gas for lm14 appears these are somewhat conservative. Get the information in the public domain, if the company is able to provide me with expected recoverable oil and gas figures then surely they should be able to provide an acceptable version to the market.
The actual spread is now very tight which is a good sign. You can only buy up to £1k before going to NT, again a good sign. Any buying pressure and this will move fairly fast towards 0.04. Can sell over 10m easily at the published bid, again a good sign.
I can sell, 10M, 20M, 30M chunks all at 0.297. Forget the quoted sell price 0.027. The real spread is much tighter. That means the only 2 trades today at 0.032 are buys........MMs cannot make their minds up how to describe them but easy to work out with a few dummy trades... Current data suggests there are buyers around.....
I asked that question directly a little while back - the answer back was - "Payment terms in Mexico are 30 – 45 days after invoice submitted to customer. " Pemex will be just one of several companies in the target market. I have a list somewhere.
Ok, if you know better. Payment terms are down to commercial negotiations. Last year Pemex was paying 200 plus days late. I don't what is standard terms for waste disposal in MX. The last annual report did state that plant was revenue generating: obviously not how much and on what terms. Fingers crossed on the update.
Payment terms are still likely to be significant on the remediation plant Helpful, regardless of Pemex. The going rate being in the region of 60-90 days. And I'd be surprised we get an RNS about it being complete this week, they don't have a track record of keeping on track
From SC update last week Natural Gas Sales The project management team is undertaking discussions to tie-in production of natural gas utilizing one of two existing tie-in points located at Shoats Creek Field. Once gas sales can be undertaken, additional exploitation opportunities of well bores with re-entry potential in gassier pay zones holds substantial potential to generate additional low risk, low cost revenue at Shoats Creek Field.
Blingybird re Gas numbers - see my post below when they announced SC update last week. NCT have circa 52% revenue interest in LM14 (source blog). If the tests results provided translate to revenues that means top line $2.3M so NCT entitled to circa $1.2M. What are the costs? Well NCT have already updated the infrastructure to extract gas - costs sunk and the latest update says they are negotiating gas sales near term. LM14 is a low cost workover so the costs have been paid. No idea on costs of tie in but I expect these not to be significant. NCT have said they will chasing more gas once LM14 producing. Gas revenues near term should be a SC game changer. Gas prices increasing 30%, very good test results and other low cost gaseous sweet spots identified - per RNS - are the drivers imo "Blimey, well no one can say they haven't been busy down at Shoats Creek. Looks like workovers and gas is the name of the game. LM19 successfully completed. When did they announce that they were doing a workover at LM14? They didn't and it looks like to be a HUGE game changer: Quick calc, pretty sure this is correct.... 2.5 MMcf = 2500 Mcf US$2.50 per Mcf = $6,250 per day 40 barrels * US$45 per barrel = $1,800 per day That's $3M gross per annum........and from LM14 only! NCT have over 50% revenue interest. That's massive news : ) What is our current market cap?! And with gas prices on the rise. Add in the rest of production. Very good news. Comment on the next planned workovers, more surprises planned (like LM19, LM14). Plenty of other locations identified. No comment from Randy Connally? Are we are about to have a new CEO, temporary Statement from Chairman. Very interesting development, changes afoot imo."
There was an issue on payment terms with Pemex last year: that has now been addressed. With the liberalisation there are now a lot more O & G cos operating in MX. The games isn't just about Pemex.
Cash 4 money, you really do have a foul mouth, why don't you try growing up.
Not bad.
Panora Energy....Operational Update http://www.panoroenergy.com/wp-content/themes/panoro/cision/releasesingledetail.html?releaseIdentifier=C765FC75F8EBBA0E
With you on that c45hm0ney. I think we'll still be haemorrhaging money which is my concern as we'll need another share placing just to cover working capital as no banks are willing to lend to us. The payment terms are likely to be long on the contracts at the remediation plant so we won't see any benefit from that for some time
Blingy - you have a significant holding here, but like all of us you know no better than any of us. Having no idea of actual figures still is worrying for me, don't you feel lard ass RC should be giving us updates on this front more regularly? Deadlines never been hit till this day and burger butt does placings like its free money! 'The next bit of news is going to be a game changer' has been thrown around for the last 10 months and all we see is the price drop on any news we receive because it never says anything about the company making money. Is this something you can ask that fat turd to do? Feel it may be more compelling coming from someone who holds a decent amount in the company! Thanks!
Has anyone numbers for gas potential for lm14 in dollars and other wells at shoats creek now price gas rising and how it translates to nct
Orslega Ive got your figures at 51% cut at 50% working efficiency at $60 tonne a touch under £3 mill p/annum not including sales of cuttings and waste Company valued at mo £3 mill Tie in shoats creek Mxo. Warrants Adl tie in All adds up
They did say 50% from day one. Well day one is now: so, "show me the money."
What's the post burn rate, there magic? Have you reached a personal best. Will you still post when this goes up to an Mcap of 50mil. imo
if LM14 on the gas front, that is serious cash in....add in MDF - why would you spend $1M on plant which will sit idle on completion... I know someone will tell us otherwise, lol
stop ramping helpful, lol
The key is the MDF Remediation Plant: if that is up and running at 50% capacity NCT is cash positive once invoices are paid. We should know shortly. 50% capacity is circa 425 tonnes per day. 60 tonnes for overhead: 365 tonnes at $60: 85% margin before resales. Call it $15k per day: 51% NCT, 49% Gaia. So circa $7,500 per day plus recovery if capital.
DD you serious? lol just look at his posts, you invested in RRR by chance? Mr M is your man there...good luck
I'm only teasing. :-)