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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Northcote | NCT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.0285 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0285 | 0.0285 |
| Top Posts |
|---|
Posted at 30/6/2016 17:12 by sleveen Despite the money raised post balance sheet date, NCT are still circa $500k under water even allowing for a bit of profit for oil produced.On top there is likely to be about $1m burnt in G&A so roughly $1.5m underwater to 30/6/2016. Could such a large placing be done? A whole boat yard of barge poles. IMHO. |
Posted at 01/5/2016 21:25 by lazygun Neither is randy. He also holds shares remember, and I don't think they're taking salaries....I'm not defending RC. I think NCT's decision making, strategy, and poor communications to market this year have been appalling compared to this time in the previous year. One can only hope that Mexico proves to be a turning point for Nct...... L. |
Posted at 29/4/2016 07:17 by spazzz Did anyone see this RNS from 27th April - for some reason it's not showing in the ADVFN news feed above?Wednesday 27 April, 2016 Northcote Energy Ltd Elects to Acquire Interest in Andalas’ Conces... Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas 27 April 2016 Northcote Energy Ltd (‘Northcote Elects to Acquire a 3.75% Interest in Andalas’ Concession in Indonesia Northcote (AIM: NCT) is pleased to announce that it has exercised its right to acquire a 3.75% working interest in the Tuba Obi East Technical Assistance Contract (‘TOE’), which is located in the South Sumatran basin approximately 30km north-west of Jambi city in Jambi province, Sumatra. This is in line with Northcote’s Participation Agreement with Andalas Energy & Power Plc (‘Andalas̵ Highlights In line with the Company’s strategy to create a diversified oil and gas company with investments across the oil and gas value chain TOE is the entry point for Andalas into the attractive Indonesian gas and power sector and any future gas production from the concession may support either: Gas export with the project located close to a major export route; or Gas-to-power being located in an area where a significant shortfall in power generation exists Andalas will undertake a work programme comprising technical studies and the drilling and testing of one well which would be put into production on success Wells drilled historically have tested gas in the key South Sumatra hydrocarbon bearing formations, namely, the Air Benakat Formation (‘ABF’) and the Talang Akar Formation (‘TAF’) Andalas’ technical analysis indicates that this reservoir zone contains potentially substantial gas resources that can be proven via the drilling and flow testing of the proposed TOE-2 well Northcote to fund its proportional share of the costs, estimated at a total gross amount of US$200,000, for which it is fully funded Northcote Managing Director Randall Connally said, "Indonesia is a prolific oil and gas region, and I am delighted to have secured Northcote’s entry into the country’s highly attractive gas and gas to power markets through the acquisition of a 3.75% WI in TOE. The presence of gas at TOE is proven and considering the solid infrastructure in the region, we believe this Concession represents an excellent opportunity to generate value for Northcote’s shareholders. Andalas is planning to drill a new well in the near term, and subject to the results, this could signal the start of an exciting development campaign. Combined with our plans to drill two back to back wells at the producing Shoats Creek field in Louisiana and with the construction of our waste remediation facility in Mexico fully funded and underway, the next few months will not be short of high impact newsflow.” * * ENDS * * |
Posted at 24/3/2016 11:34 by sleveen noli,NCT had a great story, which wasn't backed up by cash as identified in the balance sheet. Have to wait for the FY results to get a better view. Who knows, given good drilling results and some cash, NCT may be investible as some stage in the future. |
Posted at 15/3/2016 09:58 by sleveen No.Had NCT not sold the majority of its holding in its prized asset for $500k it would have needed a large placing, it's plain to see. NCT raved about the scale and production opportunities that SC presented, and now they sell most of it off because they're skint. A placing might have been better from NCT's production viewpoint? IMHO. |
Posted at 07/2/2016 11:52 by harvester Glib:I have to admit that I have very little knowledge of this company after only a brief and fleeting glance . If they have a producing well (Shoats creek well?) that is obviously a positive and indicates that it is not a completely "jam tomorrow" story since so many AIM companies live on hype and investors dreams of quick riches . No doubt you are aware that many shale oil companies with producing wells live on borrowed time due to negative cash flow and struggle to survive even while pumping oil which sells for less than the operational costs of producing just to service debts and keep the dream alive . I am not even sure what a notifiable interest for NCT is since the company lists 6,005,002,377 shares outstanding while ADVFN lists 4,748,140,000 shares . My impression is that the two criteria critical for the company are: (1) Rate of cash burn and how it can be reduced 2) the availability of finance either by share placing or loans to sustain NCT as a going concern until revenue income improves A further risk for investors is that the closed period for sale of the 21% stake by NAP expires this summer with a potential flood of shares coming to market just when NCT has great need to raise more cash by placing . Sorry to see you caught up in this and hope that you get an opportunity to exit at a tolerable price . |
Posted at 23/11/2015 12:23 by lazygun Oil prices ultimately will go up, it's not a case of, but only of when. People keep forgetting that no matter how OPEC may try and manipulate production to try and maintain it's market share, the bottom line is that we're still dealing with a commodity that is in finite, and ultimately diminishing supply, with no real viable means of significant replenishment.Long term future of oil prices can ONLY go in one direction - UP. Whilst I agree that the current low oil price climate which may last for another year or so, or maybe even 2-3 years or so, may hamper share prices of companies, especially the likes of northcote, if you have faith in the northcote story, and its ability to survive, then investors need only look at their expectations for share price recovery, and adjust their expectations for payback, or choose to get out and deploy their money elsewhere. RC cannot directly influence the share price. He can really only do three things: 1) continue to develop north cotes strategy, it's business, and continue to develop it's cash flow security through its diverse business activities ( and if anyone can, then RC ). 2) continue to reinforce the message that NCT is not just a junior oiler, but rather a much more diverse company, and therefore a much reduced risk when compared to its peers 3) should conditions suit, initiate a share buy back scheme, or look into some other form of share capital restructuring. If you look at the current share price, we're starting to get into the realms of where NCT's revenue streams will reach parity with its market capitalisation, and as the various business strategies mature into sustainable revenue generating businesses, will,eventually outstrip its capitalisation. At that point, this would be the best possible time for NCT look,at reducing the share capital in the company, unless such funds are felt by the NCT mgt team to be more valuably deployed elsewhere. So, in summary, keep developing the business, keep putting the message out about great NCT is vs its peers, and possibly subject to prevailing conditions, look at doing a share buy back. The last two can only have an indirect effect on the share price, and then ONLY if sentiment towards the stock changes..... I suppose the only other consideration on a share buyback would be what effect would that have on the larger shareholders in respect of declaring changes to threshold levels.. L. |
Posted at 12/11/2015 23:44 by g1g4lo My Napp shares I am keeping as I feel it best in the medium term to stay here.However, being tied in for 12 months and lied to by the Napp management, you can understand why Napp holders sell. They have also lost 70% and tied in for 12 months so I fully understand their position. When this is cleared and RC can really confirm that financially he has not financially overstretched himself and some good deals come out of Mexico on December 15th, NCT may recover to the late 0.20s but I feel that is the limit. Regarding MXO, NCT need to invest to take advantage of their 20% interest in MXO contracts in Mexico if they wish to take advantage. But have they got the money? But NCT are on their own in round 1 so I would suggest NCT will invest on their own and take a much bigger % advantage but that is just my opinion. That is what I hope for and hence my Napp shares are staying in NCT |
Posted at 04/11/2015 07:19 by orslega I see Andrew Bell CEO of RRR does a newsletter - here is an extract below plus an earlier comment said they hope to raise their SC monies via non core asset sales.... From this extract it looks as if they are exercising their option this week... Expires on Friday, so news soon imo...."So the NCT deal fits into this vision? Have we chosen the right partner for our first transaction?Yes. this is the context for the Shoats Creek deal. We think Northcote is a company that had a bad time in Oklahoma, and lost some investor confidence, but has shown grit and ingenuity in fighting its way back, and its related company that is the operator in Louisiana has proven competence there. We expect that NCT will do well from here on. The geological risk in the Frio horizon at Shoats Creek is very low, and the day we announced our option was the same day that NCT announced it had started selling oil from the initial well, LM20.We expect further announcements from NCT that will show our entry terms in a very good light. And we expect the offset LM21 and LM22 wells to be successful and to go into production within months. We also expect more geological and presentation material to be made available on the NCT website soon, and at that point we will be able to use that too. Then I think the market will judge." |
Posted at 28/10/2015 12:29 by lazygun Also worth noting that the overall volume of NCT shares has dropped off considerably during the last month and a half.So - no real sellers, or buyers - the price is just drifting up and down within a fairly small channel at the moment. Seems to paint a picture of everyone waiting on the sidelines to see if NCT or MXO are successful in any of their bidding in the mexican oil arena. If you look at the overarching trend since 2013, NCT's price has been sliding, but if you look at it's price now, it's in the upper half of that trend, and nearing the upper trend boundary, suggesting to me that sentiment is gradually changing on the stock. If you take a look at the SMA's - 200,500, 20 for example, you also see them starting to converge quite closely together now, with the 200sma flattening out a lot more now than it has, and the 20/50 sma's whilst still below it, also showing stronger signs of converging too. I think mid december is still looking like the right sort of time frame for either a break out, or a break down of the price. I think this will almost certainly be driven by successes/failures to win concessions in mexico. If they don't they still have participation rights with MX oil, there's still the outcome of CEB resources recent activity to consider, and their participation rights in Indonesia to consider, and what people are still forgetting is that whoever wins those concesssions, NCT are already establishing businesses down in mexico to service the oil industry in general, on a low cost, low operational cost, highly profitable, and highly scalable basis, in geographically advantageous locations to those oilers. That business alone, by my reckoning once it becomes established (and lets not forget that's also in the near term), is probably worth NorthCote's entire mkt cap on its own. So, for me, the downside risk to Northcote especially now that they are generating revenue from SC is extremely limited. Whilst Oil in the near term - ie 1-3 years out may still suffer from a low trading range, in the longer run - say 5-10 years or more, people still forget that oil is a finite resource that still has immense global demand, and that there are still developing economies out there with major populations that is going to inevitably lead to overall increased demand, and that supply will ultimately diminish. Oil prices will have no choice but to go up in the long run. We are still years and years away from viable alternative energy solutions that can be actively and pervasively implemented into world economies, on such a scale that the global demand for oil is diminished to any significant degree. I still think even in 50 years from now, we're still as a global population going to be making the same demands on our oil reserves as we do now, if not more so. RC has also shown he is positioning NCT to be far far more (and bigger) than a simple oiler. and I'm content therefore to keep buying at these levels, L. |
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