Northcote Share Discussion Threads

[tailgunner2] 29/4/2016 14:13

Someone's bailing out grandee style today

[spazzz] 29/4/2016 07:17

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 (‘Northcote217; or ‘the Company’)

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 (‘Andalas̵7;), which is farming into a 30% interest in TOE. Further information regarding the Participation Agreement can be found in the press release dated 5 June 2015.

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 * *

[markten33] 26/4/2016 15:16

Could be a 10 bagger. BOD up up up 145 per cent in April.

[h4rvs87] 26/4/2016 12:00

You must be in balls deep letmepass

[ilovetowin] 25/4/2016 22:25

Randy should go to jail

[letmepass] 25/4/2016 10:47

Soaking up all the sells. About to move up

[deanroberthunt] 25/4/2016 09:39

oh deary deary me.

[deanroberthunt] 23/4/2016 09:43

peeps could have gone lower risk and bought PMO et al in Jan....PMO for example is now up 268% from low....and still is stupid cheap

[deanroberthunt] 23/4/2016 09:40

WELL PUNTERS HAVE TRULY GOT MUGGED HERE......this is worse than the worst cesspit AIM stocks....

trouble is if you're 95%+ down, what's the point of selling......might aswell just HOPE something good comes along at some point....but HOPE is all there is, and that's not investing

[rikivilla] 22/4/2016 19:42

Can hardly believe that mugs are still giving this Randy guy money - unbelievable really. Sure his family are happy though.

[roomove] 22/4/2016 07:44

Hope you followed yesterday's eua tip...

[comedy] 22/4/2016 07:15

dont worry dean...he can consolidate the shares and start again...watch how quickly the million disappears from co. coffers on buying sharpners;)

[deanroberthunt] 22/4/2016 07:11

most AIM cesspits get diluted into oblivion but this seems to be happening at a rather fast pace.

[comedy] 21/4/2016 21:49

Meant to say $17000

[footrot355] 21/4/2016 20:16

this is just money
everyone has a favourite Prince song
R.I.P.

[sleveen] 21/4/2016 15:02

GWMO is worse than NCT (hard to believe I know)

No foreseeable revenue for years ahead.

[roomove] 21/4/2016 12:58

Or EUA.... you can all ignore that tip if you like, my last tip was PANR that proved to be ok ...

[letmepass] 21/4/2016 12:41

Or GCM or AST... Take your pick

[apfindley] 21/4/2016 12:37

GWMO could be next to multibag

[letmepass] 21/4/2016 12:08

Looks like some consolidation at these levels... Next few sessions will be interesting

[lazygun] 21/4/2016 11:17

Until they announce that they're actually getting a self sustaining cash flow, this is going to carry on drifting, and will most likely go lower before it recovers....

Oil isn't really showing signs of price recovery, so there's no real driver to start building long positions just yet in my opinion...

Mdf contracts, visibility of shoats creek oil sales might be the start, but they've confirmed neither of these things yet......

L

[nsk1] 21/4/2016 10:04

£500k...u think it's related to ADL, they are going to relist soon possibly?