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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nu-oil And Gas Plc | LSE:NUOG | London | Ordinary Share | GB00B29T9605 | ORD 0.0001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0275 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
26/1/2017 09:20 | Nu-Oil and Gas (NUOG.L, 0.41p) – Speculative Buy Marginal Fields Development Company, in which Nu-Oil and Gas has a 50% interest, has signed an important collaboration agreement with China Oilfield Services Limited (COSL). COSL is a subsidiary of China National Offshore Oil Corp (CNOOC), one of the world's largest oil and gas companies. The agreement means that COSL will provide offshore drilling services to MFDevCo, with the vast majority of COSL's costs paid out of production. These agreeable commercial terms should enable MFDevCo to get into projects more quickly and speed up their development. Also, bear in mind that MFDevCo is only targeting 'no exploration risk' projects which COSL know will be able to repay its drilling costs. Our view: This agreement is a key piece in MFDevCo's strategy of developing large marginal oil and gas fields. By way of background, MFDevCo is targeting breakeven or loss making fields where costs can be significantly reduced using MFDevCo's solution. This is based on Arup's low cost ACE platforms (which combine mobility, large storage and lower capital intensity) with reduced manning levels and state of the art remote monitoring. Also, this will be delivered by MFDev's very impressive consortium of support services companies which now includes COSL (other members: aibel, Kongsberg, Arup, Apollo, Braemar, Frames). Many marginal or loss making fields with potentially near term abandonment liabilities would benefit from the MFDevCo offering. MFDevCo would take a significant equity stake in the field and the current oil company (which could be a major or mid-sized) might retain an equity stake or an overriding royalty. The Oilco would push back its abandonment liability by 7-10 years or even more. MFDevCo will fund the developments via SPVs and project finance or reserve based lending, while the support services companies in the consortium save on marketing expenditure and win sole source contracts (i.e. no bidding). The importance of the COSL agreement sits on several levels. For investors it demonstrates the feasibility of the MFDevCo concept. For MFDevCo it adds credibility, drilling expertise, significant financing assistance, and should help win the first and more oil field development contracts. Its good news all round. Beaufort Securities acts as corporate broker to Nu-Oil and Gas plc | cpap man | |
26/1/2017 09:20 | Nice one easwareddy! Glenkaz can rest easy as I think you had a higher average than moi 🤒 So I'm really happy for you! Me I've turned day trader shame on me! I play with the big boys! Doing really well! And will stick to it! But have to say my fingers were Hovering on the buy here but resisted as never want to play aim game again! Now hit that 1p guys! Gla nuoggers still think of you all and cheering you on! 🚀🚀 | glenkaz | |
26/1/2017 09:16 | We must have signed something seriously big!!! Within now and a month we are going to know. | counting cards | |
26/1/2017 09:15 | Nu-Oil and Gas (NUOG.L, 0.41p) – Speculative Buy Marginal Fields Development Company, in which Nu-Oil and Gas has a 50% interest, has signed an important collaboration agreement with China Oilfield Services Limited (COSL). COSL is a subsidiary of China National Offshore Oil Corp (CNOOC), one of the world's largest oil and gas companies. The agreement means that COSL will provide offshore drilling services to MFDevCo, with the vast majority of COSL's costs paid out of production. These agreeable commercial terms should enable MFDevCo to get into projects more quickly and speed up their development. Also, bear in mind that MFDevCo is only targeting 'no exploration risk' projects which COSL know will be able to repay its drilling costs. Our view: This agreement is a key piece in MFDevCo's strategy of developing large marginal oil and gas fields. By way of background, MFDevCo is targeting breakeven or loss making fields where costs can be significantly reduced using MFDevCo's solution. This is based on Arup's low cost ACE platforms (which combine mobility, large storage and lower capital intensity) with reduced manning levels and state of the art remote monitoring. Also, this will be delivered by MFDev's very impressive consortium of support services companies which now includes COSL (other members: aibel, Kongsberg, Arup, Apollo, Braemar, Frames). Many marginal or loss making fields with potentially near term abandonment liabilities would benefit from the MFDevCo offering. MFDevCo would take a significant equity stake in the field and the current oil company (which could be a major or mid-sized) might retain an equity stake or an overriding royalty. The Oilco would push back its abandonment liability by 7-10 years or even more. MFDevCo will fund the developments via SPVs and project finance or reserve based lending, while the support services companies in the consortium save on marketing expenditure and win sole source contracts (i.e. no bidding). The importance of the COSL agreement sits on several levels. For investors it demonstrates the feasibility of the MFDevCo concept. For MFDevCo it adds credibility, drilling expertise, significant financing assistance, and should help win the first and more oil field development contracts. Its good news all round. Beaufort Securities acts as corporate broker to Nu-Oil and Gas plc | cpap man | |
26/1/2017 09:15 | COSL as a whole, possesses the largest fleet of offshore oilfield services facilities in China. To date, COSL operates 31 drilling rigs of which 27 are jack-up drilling rigs, 4 semi-submersible drilling rigs, 2 accommodation rigs, 4 module rigs and 6 land drilling rigs. | counting cards | |
26/1/2017 09:14 | This is who we have signed with hxxp://www.cosl.com. | counting cards | |
26/1/2017 09:11 | Thanks comedy.A very impressive RNS. | glenbo1 | |
26/1/2017 09:09 | At least risk can never post his boring 'olog' again | timbo237 | |
26/1/2017 09:04 | ps read the rns again mate...she is saying this has opened their capability to sign up deals.. i have a feeling we will soon be hearing our first project in short term | comedy | |
26/1/2017 09:02 | ps if i gave you the actual share price where ive spoken to another shareholder you wouldnt believe it...this is turning out with the above deal to be a co. to hold with a 2 to 3 year outlook...we are in year 2 of oil cycle...year 3 and 4 maybe time to bank life changing money if you have bought right co's. edit ps the fact the chinese national oil co. has signed up shows you where we are heading!!!!! i think we are going to have projects all over the world. | comedy | |
26/1/2017 08:59 | glenbo1 good morning...for all the guys like me who have gone through the pain... look at srsp last year they signed with cosl 16/11/16....sp hardly moved...then look share price kicked off from 0.55p/0.6p to 1.5p in 2 months... this is a massive deal...today share price means jack in mid term outlook...this is massive but share price may take a bit of time to reflect it...bear in mind traders selling...mm's now have the audience...the more risk averse are now buying...and sorry to say but guys who bought at 0.4p and lower who are the risk takers are being squeesed out today... i'm waiting till end of next week to see where share price settles...but i have traded some out at 0.55p and bought back slightly lower...but difficult as they wont let you buy volume...so i'm now going to work on day job...catch up later in day...dont sell your golden tickets "charlie and chocolate factory"...read up on the chinese co!!!!!! | comedy | |
26/1/2017 08:52 | ComedyGood morningWhat price should this finish today In your opinion? | glenbo1 | |
26/1/2017 08:38 | healthy volume today keep it up. | 1959cos | |
26/1/2017 08:30 | I am! ! Wonder where pi gone. He'll be spilling blood! | easwarareddy | |
26/1/2017 08:29 | Easwareddy don't do aim but loving watching it rise! Hope you are in profit!! 🚀🚀 | glenkaz | |
26/1/2017 08:29 | yep just the beginning here GLA. | 1959cos | |
26/1/2017 08:19 | All good if you are holding long term, a good progress rns, more to come over the years, should be over 3p by next year. | ny boy | |
26/1/2017 08:18 | well thats co. srsp signed up with i think share price 10 bagged from lows:) | comedy | |
26/1/2017 08:13 | Haha come on pi where are u!! And glen get in 1p coming! ! | easwarareddy | |
26/1/2017 08:13 | Wow speechless.. | pj787 | |
26/1/2017 08:08 | Look at this go!! Watch this space.. | pj787 | |
26/1/2017 07:51 | Easeswareddy gl mate! 🤒 | glenkaz | |
26/1/2017 07:46 | Where is he these days | easwarareddy | |
26/1/2017 07:46 | I've missed pi lol | easwarareddy |
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