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yes not that long ago natural gas prices were in the low 2's.....now futures are pointing to late 2's/3's; that means circa 40% increase to the top line on any gas sales. That increase will be significant to Northcote as they are about to turn the tap on. The beauty about the Shoats Creek gas opportunity is that it is a very low cost model in terms of getting it out; LM14 (and smaller wells) are workovers - LM14 tests results are an indicator of some serious revenue to come. As the RNS stated once they get LM14 tied in they are going after more gaseous targets already identified. Plus the infrastructure is all in place. http://www.barchart.com/commodityfutures/Natural_Gas_Futures/NG?search=NG*
2 weeks on since last SC update Northcote Chairman Ross Warner said, We are pleased that our plans for Shoats Creek appear to be coming to fruition.� Getting LM#14 and our other Shoats Creek wells producing and tied in for gas sales is our top near term priority, and once we have achieved this we believe that we will be in a position to consider other bores with re-entry potential in gassier pay zones at Shoats Creek, with a potential to generate additional low risk, low cost revenue to Northcote. 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.
Is the infrastructure in place to convert the gas into the required quality to inject into the pipeline. Do not recall any mention of this or is the gas injected in its natural state and processed elsewhere?
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_ORGAD?p_orgid=S3000 HERIBERTO GONZALES PRESIDENT Wonder what the chances of the next SC update coming from Eddie? I would say pretty high. See Jeff Welch is the COO of SCDI; this link also shows his main company under full profile as Northcote Energy Limited; http://www.oilvoice.com/member/Jeff-Welch/72f9f5c8e3484c8.aspx Plenty of discussion before but it doesn't take too much digging around to see what's taking shape. Not just at SC, imo
....no specific detail were given but 4 months ago in 24th March RNS "Negotiation of a natural gas contract and installation of necessary equipment to permit sales of natural gas" Surely they cannot negotiate a sales contract without any gas! The last RNS 2 weeks ago points to the necessary infrastructure in place to deal with whatever route they have chosen to sell the gas, imo
These are the kind of details they need to start including. Have they installed gas processing equipment either rented or bought or are they receiving a discount to the rate for unprocessed gas. Far to much guess work required for simple things that should be clarified in the relevant RNS.