Nu-oil And Gas Share Discussion Threads

[taxibabe] 21/12/2016 07:27

The news is not material except that the option payment, whose details are not provided may assist in getting rid of BLACK SPRUCE. A five percent retention on gross revenue is not that much and it appears that therefore the company are biting the bullet on its asset which was only worth $516.000 in the a/c. I always thought that EL1070 was a potential big winner for the company but obviously not.

[easwarareddy] 21/12/2016 07:15

And results rns still to come. Nigel it seems is pacing out the news think week to keep a steady boomin news flow to push the share price to new highs! Ready for the new year when we really take off!

[guyswonga74] 21/12/2016 07:14

This will be a very high volume day

[easwarareddy] 21/12/2016 07:13

Its a booom pat!

[guyswonga74] 21/12/2016 07:13

TPI. You had better be quick buying back in. This is fantastic news

[the patient investor] 21/12/2016 07:09

Well
i have learned a lesson, silly me to be out

How good is this RNS?

[guyswonga74] 21/12/2016 07:09

Wow. First aibel and now G2.

[easwarareddy] 21/12/2016 07:06

Oh dear are u one of those shorters now? S

[easwarareddy] 21/12/2016 07:05

I hope shorters and day traders get burnt!

[easwarareddy] 21/12/2016 07:05

Nu-Oil and Gas PLC Option Agreement covering 'Deep Rights', EL1070Source: UK Regulatory (RNS & others)TIDMNUOGRNS Number : 4189SNu-Oil and Gas PLC21 December 2016NU-OIL AND GAS PLCAIM ticker: 'NUOG'21 December 2016NU-Oil and Gas plc("NU-Oil" or "the Company")Option Agreement covering the 'Deep Rights' on EL1070The Company is pleased to announce that it has entered into an Option Agreement with G2 Energy Corp. ('G2 Energy'), (together, the "Parties"), under which G2 Energy will have an exclusive option to earn 100% of the Company's working interest in the Deep Rights (see below) of licence EL1070 offshore Western Newfoundland, which is currently held by the Company's Canadian subsidiary, Enegi Oil Inc. ('EOI'). Should the option be exercised, EOI will retain a 5% gross overriding royalty in the Deep Rights, such that 5% of any revenue generated from the development of EL1070 will be owned by EOI. The option is for a period of 24 months.In order to execute the option G2 Energy must submit an application for a Significant Discovery License ('SDL') on EL1070, prior to the expiry of the option period. In this respect, prior to the end of the option period, G2 Energy must achieve a flow test for hydrocarbons on one or more of the wells on EL1070, a requirement under the regulations for the submission of an application for a SDL.G2 Energy has undertaken further analysis of data on existing wells, and has identified a potential bypassed oil pay zone behind casing in one of the license wells, within the Carbonate Platform section, and their initial work program, subject to regulatory approval, will plan to flow test this prospective zone. This section is interpreted to have a dense natural fracture network in brittle carbonate rocks, which may have natural flow capability.Consistent with the Company's strategy for its assets in western Newfoundland all costs during the option period associated with EL1070 will be borne by G2 Energy and any abandonment costs associated with any work performed by G2 Energy will also be for their account. Costs for the last financial year relating to EL1070 were not material. The Company retains a carrying value for its investment in Enegi Oil Inc. of GBP516,000 in its audited financial statements of 30(th) June 2016 which mainly relates to the valuation of its interest in EL1070.G2 Energy shall now have a period of 45 days to conclude due diligence on EL1070.About G2 Energy Corp.G2 Energy is an investment vehicle that has been specifically established to explore the potential of EL1070. Its two principals are George Langdon and Gerard Edwards. George Langdon was a former senior geologist at Mobil Oil and Gerard Edwards a financial analyst with Mobil. Both have been instrumental in achieving the award of the first onshore production lease in the province of Newfoundland and have been involved with the recognition of the potential of both the deep Carbonate Platform rocks and the Green Point shale. Collectively through their previous companies they have raised approx. $100m for exploration in west Newfoundland. Both are graduates of the Memorial University of Newfoundland, George with a PHD in Earth Sciences and Gerard with a MBA. They have been involved in the exploration of oil and gas in eastern Canada for more than 20 years and during their time in the industry have developed an extensive network of contacts that will be exploited for the purposes of developing EL1070.About EL1070Although EOI is a registered holder of 33% of the EL1070 licence, through a 2009 agreement with Shoal Point Energy the Company now holds a 100% interest in the Deep Rights, with Shoal Point Energy holding 100% interest in the Shallow Rights on the license.The Deep Rights on EL1070 are defined as all petroleum substances and associated rights within and stratigraphically below the Ordovician Carbonate Platform (excluding Cape Cormorant and Table Cove Formations). The main target within the EL1070 Deep Rights is the Shoal Point prospect, which is a 'conventional' exploration target, and is reachable from an onshore location.EL1070 was issued in January 2002 and continues to be in good standing beyond its 9 year exploration phase, while partners in the project diligently pursue the award of a SDL for discoveries within the Shallow Rights section. In order to pursue Shallow Rights hydrocarbons in the Green Point shale fracking will be necessary, for which there is currently a moratorium in Newfoundland. The Company, in conjunction with G2 Energy, will also need to liaise with the Government to commence activity on the conventional Shoal Point prospect; G2 Energy has already conducted informal discussions with the regulator.Nigel Burton, CEO of NU-Oil, commented:"The Directors are pleased that we are able to enter into an agreement that should allow new investment into EL1070. The agreement has the added benefit of removing on-going costs. We look forward to working with G2 Energy."

[guyswonga74] 21/12/2016 07:04

There it is. Official RNS on G2 tie up. Isn't that the shoal of over a billion barrels recoverable?

[guyswonga74] 21/12/2016 06:58

May be hard to get back in quickly TPI. Excellent news

[guyswonga74] 21/12/2016 06:58

Options agreement with G2 0n company website and annual report. Will be RNS at 7am

[the patient investor] 21/12/2016 06:52

Yes sold at a profit at 47.3


Ready to come back

[easwarareddy] 21/12/2016 06:16

So close to news. .. that's a bit risky

[easwarareddy] 21/12/2016 06:16

U not in here pat? Have u sold again?

[the patient investor] 21/12/2016 06:14

All oil companies when they start a significant operation they put out a RNS.

Look at hur et al., common practice.

"Drilling has started etc"


My opinion is as somebody else said here that with the results we won't get any major operational news but rather a notification of future ones.

Any views?


Not holding but hoping to sell ALT at a profit and be back here, i never held at such a low price (average)

[easwarareddy] 21/12/2016 03:42

My phones been playing up this week so haven't been able to come on here or do any share dealing! Finally got back on

[easwarareddy] 21/12/2016 03:41

I think there will be a couple of announcements this week

[easwarareddy] 21/12/2016 03:39

Yes i got that impression too. That the early 2017 when they can buy shares will be the bumper rns that will push it. This i got the impression was going to be a boom and the next was going to be booooooooooooooom.

[guyswonga74] 20/12/2016 23:53

They won't release a blockbuster until they buy shares after results

[comedy] 20/12/2016 23:31

Well lol I bought top up at 0.49p yesterday ...sold at 0.48p yesterday...and bought back today 0.438p and bought more...yesterday's game of get the guys losing on copl to buy here as a pump and then with no follow through buying the pumpers dumped and ran...my prediction is nuog will hit 2 to 2.5p in next 3 months...so I'm staying g for my 5 bagger...not expecting much re rns as would the co. Really wait till last few days b4 Christmas to announce block buster deal????lol deal relying on spotting a big fat bloke in red flying in sky??😉

[pj787] 20/12/2016 23:21

Guyswonga if timed yours wrong then I have done far worse 0.54! Small movements will matter not when we get our first project signed and sealed..

[guyswonga74] 20/12/2016 22:15

I emailed Nigel directly at noon today and he emailed me back just before 3pm. My impressions is that 2017 will be a significant one for NUOG, watching daily ups and downs is frustrating as I timed my top up at 0.4704 badly today and could have got 0.438

[lyates2010] 20/12/2016 21:05

1959....I didn't write to him via email, so wouldn't expect one.
Remember Two and a half weeks ago Alan said on the Vox podcast,mfdevco were at very advanced stages with a few projects, and these would be announcable to NUOGs benefit once concluded.
The only thing thay you have to work out is how long is the very near future. 1 month to me would fit that bill. Then you have the PVF project at Garden hill, within 4 months was the timeframe given on the RNS.
Which ever way you look at it Q1 for NUOG will be huge. So get as many shares as you can and sit back and enjoy!!