drill location and permits should be soon. The Permian basin asset has multiple drill ready locations so things could move quickly .. I'm happy to sit and watch ntog continue to build and steadily consolidate there current assets .. with a positive income Paying the bills .. "the only way is up"
Well I'm amazed there isn't more interest here .. yes I accept past history may blur some people's vision for the future .. but if you look at the 5year chart of many co's on aim they all tell the same story? .. what I like about ntog atm is they're not trying to prove up the next "biggest drill on aim .. it's not my quote btw? but instead seem to have chosen average fields that will no doubt yield average production .. no messing about they put the twin well into production .. with more to follow .. and finance in place (no dilution of shares) so come on other than "past history" tell me what I'm missing ??
Sooo where do we see ntog going now ?? Cash in the bank, talk of the twin well being commercial (the flow rates will enough but not "amazing") three wells to drill at drill ready sites cmon, tell me this co isn't on the up now
Despite SharePrice not displaying anything just lately !! .. so three wells being drilled in the Permian basin .. all drill ready with funding in place. .. results of the last drill to come still we could have some good news flow in the next few weeks. I would press "weak buy" but that doesn't work on my phone either.
If you didnt think there was a chance of making some money here you wouldnt be here Elena? This is AIM and its not BP so lets not kid ourselves whats involved eh? The question is are you gambling on the price going up or down?? This last drill was derisked because they had they info on what to expect.. hopefully they also had a plan on what to do with it next?? Personally I think there is more to come in the near future. IMO
I am amazed to see some of the optimism shown by posters here, it must be a triumph of hope over experience. Take a look at the historical share price chart to see the fate of shareholders here over time, meanwhile ML continues to receive his not inconsiderable salary and placings continue. How long can he continue this strategy?
Elena .. appreciate like TX2 youve been caught out in the past with Ntog but that shouldnt stop you investing in the future (guess thats why youre here after all?) and to quote from the rns....., The production casing has been run and the well cemented. The Company will proceed with completion, a production facility upgrade and tie-in operations, following which it anticipates putting the well put into continuous production .. if its not commercial why put the casing in? They had all the data from the last drill alongside and they also quoted they intend to put it into production. .. and guess what Pine Mills may be worth drilling a few more holes in as well... or are you just trying hoping for a lower entry point ??
Past history aside (and I appreciate lths) they seem to have latched onto the plan of buying into a drill ready plot .. ok so its not going to interest any of the big players but if they can secure a reasonable income and climb the ladder slowly it could do pretty well......
It looks like we have turned a corner and can now look forward to good news with NTOG.
The permian basin sounds promising and it will be interesting to get the flow rates from the new well.
The share price has bounced up on the permian well news but we were at 3-4 already this year. That was before the Magnolia deal. We are ow out of Magnolia, at a profit, and have still good prospects in the Permian Basin.
Brexit.. a lot more to happen on that yet I would think .. ntog also if the rig is still on site and available could easily announce the next drill very soon. News flow over the next few weeks could be interesting and Id rather be in atm
Sold now. Share price was way too cheap. As for the future who knows. I will carry on watching but spending the money on FTSE250/100 brexit bottom catching... could be at peek bottom already but what I do know is that some of these stocks will recover.
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Permian Basin Twin Well - Total Depth and Results
Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, is pleased to announce that its well located in Mitchell County, Texas in the Permian Basin, (the "Twin Well"), has been successfully drilled and logged with oil shows in all of the target formations.
The Twin Well was drilled to a total depth of 3,200 feet encountering the following formations as expected; the Upper San Andres, Lower San Andres, Glorietta, Upper Clear Fork, Middle Clear Fork, and Lower Clear Fork Formations. The well intersected more than 113 feet of gross oil pay in aggregate across the target objectives. In addition, logging indicated potential commercial quantities of pay below the main target zone in the Lower Clear Fork Formation.
The well reached the bottom-hole target as planned. Drilling was successfully completed on time and below budget.
The production casing has been run and the well cemented. The Company will proceed with completion, a production facility upgrade and tie-in operations, following which it anticipates putting the well put into continuous production.
Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:
"We're very excited for the successful drilling and logging of the Twin Well. We encountered each of the target oil-bearing formations that are productive in the area, including all those seen in the original well drilled by the neighboring operator.
In addition to this well, Nostra Terra has numerous proven undeveloped drilling locations already leased in the same area. We'll seek to grow production and reserves significantly both in the Permian Basin, and other areas of our portfolio."
Competent Person Disclosure
John Stafford, a Director at Nostra Terra with over 35 years relevant experience in the oil industry, has reviewed this announcement for the purposes of the current Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in June 2009. Mr. Stafford is a Fellow of the Geological Society and a member of the Petroleum Exploration Society of Great Britain.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Thank you for pointing out my success.The shares are down around 90% since then when adjusted for 1000 for 1 share consolidation......I even pointed out the dubious record of their first drilling partner some years before that.Needless to say then shareholders lost their shirts.
This company has been playing the same story,which you repeated for years.......
AIM is littered with failed explorers who have all spent millions trying to prove up the resources and never ever getting to production.... its the gamble people take ... personally I like the plan of buying a small near term production site with infrastructure and permits in place ... they even know where the oil is .... and maybe (just a maybe) lths might get some money back.
You spot on regarding your history. But as a new investor not scared by the past I see real progress in last lot of updates and a growing oil price I want to take advantage off by buying a massively geared company capable of multi-bagging where I can sell without them going bust/dilution.
This is a dreadful company that squandered over £10m of investors capital on one failure after another;its overheads are totally out of control,it is making massive losses & has never come within a country mile of making a profit.
Look at the balance sheet......It has spent over £10m to produce assets worth a couple of hundred thousand and it is almost out of net working capital.Bring on the next fund raising....
Now this is more the news I wanted to hear .. relatively low costs involved with the most of the groundwork done for a quick drill .. production permits in place with plenty more news to come... the new loan facility (once finalised) we will see a lot more interest in nostra I think
The next step is to confirm borrowing terms with a second senior facility provider. The subsidiary of BP would help get the second senior facility provider pretty much in bag?
Then news on what on earth the company will use these funds for. I am the biggest critic of fracking, but with oil looking strong at $57.43 and the market cap here so low, I am willing to be open-minded with whatever NTOG do and now have a small punt when others are (rightfully) fearful.
Though funds can be used globally BP Energy and NTOG are in the best place to take advantage in the US. Its a punt on a positive oil price for sure with massive risks, but a prudent exit point could be had at multiples of the current market cap. That we are all interested I suppose?
I am amazed too.
I think that this is good news and shows that BP has confidence in NTOG. The Interim results should be out soon so it will be an interesting week.
The share price is heading back in the right direction although it is still short of where it should be.
BP Energy Company, Inc. trades and markets electric energy and other energy related products in the United States. It also retails electric energy; resells natural gas; and offers energy price risk management services. The company was incorporated in 1985 and is based in Houston, Texas. BP Energy Company, Inc. operates as a subsidiary of BP p.l.c.
Not quite BP. lse more interesting will be where funds are to be spent.. still haven't worked out where Magnolia (MAGP) are going to fit in?
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