Nu-oil And Gas Share Discussion Threads

[pj787] 29/12/2016 10:00

Risk1 do you post on the lse site under the same username?

[risk1] 29/12/2016 09:58

Old oil n gas nowt changes and never will imo

[pj787] 29/12/2016 09:49

Volumes should pick up new year and in my opinion mms are trying to get few early on due to quiet period...

[easwarareddy] 29/12/2016 09:48

I think emailing is a good idea

[pj787] 29/12/2016 09:26

Your right it is testing times but the recent PR would suggest a exciting times ahead for nu oil..

[1959cos] 29/12/2016 09:24

pi getting tested.

[pj787] 29/12/2016 09:23

Maybe we should ping Nigel Burton a email to clarify!! Certainly intriguing..

[pj787] 29/12/2016 08:28

It will probably be quiet intil market are properly back in January so expect low volumes..gla

[pj787] 29/12/2016 08:18

Trades being cancelled from 23rd December showing up!!

[1959cos] 29/12/2016 08:17

morning all,bit quiet here.

[euclid5] 28/12/2016 21:58

but it's downto the owner of the Marginal field if they want it developed & give away 50% & NUOG have to raise debt funding on the reserves & apply for a new FD plan to the authorities to get approved before project can go ahead.............plenty of potential MF out there with the right partners.....just need OPEC, Russia to fully agree a reduction to move oil price up to $60+

[pj787] 28/12/2016 21:21

Nu oil can break even at $18-$22 so even at current prices very profitable for the company...

[pj787] 28/12/2016 21:18

Seems alot of coverage on marginal field oil development. Clearly this becoming more and more interesting.

[euclid5] 28/12/2016 21:16

You need oil to be trading between $60- $70 before many marginal fields stat to get developed - that's the bottom line with NUOG - cutting to the chase, so to speak:

If an oil price in the $60-$70 range were attained, and was believed by investors to be sustainable, a significant number of these undeveloped discoveries could become viable following recent cost reductions. Further tax incentives could also make marginal fields viable.

hxxp://www.worldoil.com/magazine/2016/december-2016/industry-leaders-outlook-2017/austerity-set-to-continue-on-ukcs-in-2017

[euclid5] 28/12/2016 21:10

The chief executive of the new £180 million Oil and Gas Technology Centre (OGTC) in Aberdeen revealed yesterday she had already filled a number of keys posts.

Colette Cohen, who officially took up the reins on September 1, said OGTC was still in an “embryonic state” and was settling into its base at 20 Queen’s Road, the former home of now-defunct Iona Energy.

“We don’t officially claim to have opened our doors because we’re still trying to actually make the doors work,” said Ms Cohen, who until recently held the role of senior vice-president for the UK and the Netherlands at Centrica.

Ms Cohen said OGTC was just “starting the thought process” to understand what the industry needed from the organisation, how it would function, and which projects it should go after.

Despite being in its infancy, she wants OGTC to be working on projects and spending money by the end of the year.

The initiative for OGTC − part funded by the Aberdeen City Deal – came from economic development agency Opportunity North East, whose chairman is Sir Ian Wood.

OGTC’s aim is to make the north-east a focal point for oil and gas technology by helping companies develop and deploy new products and processes that can reduce costs.

It is setting up a number of “solution centres” to tackle challenges facing the industry, including asset integrity, well construction, exploiting small pools and decommissioning.

Malcolm Banks, formerly of BP, will head up the solution centre for wells, Rebecca Allison, most recently of Lloyd’s Register, is responsible for asset integrity, and Chris Pearson, a consultant whose previous employers include BG Group, takes charge of small pools.

Mark Lappin, another former Centrica employee, is OGTC’s director of university and government relations, and Luca Corradi has become the organisation’s first innovation network director after leaving Accenture.

An appointment for decommissioning has yet to be made.

Ms Cohen said OGTC and its leadership team would do everything they could to kick start the industry.

“There is a recognition that if the oil price comes back it is not going to save a lot of companies and fields which are too far gone,” Ms Cohen she said at a decommissioning technology event organised by Decom North Sea and the Oil and Gas Innovation Centre.

“We need to change processes and attitudes to technology and work together.

“We want to give the industry a chance to kick start itself. The OGTC can leverage a lot of funding and if we all work together we can gear it up even further. I hope that’s the attitude we encounter.”

hxxp://www.ogic.co.uk/key-posts-filled-at-180m-oil-and-gas-technology-centre/

[pj787] 28/12/2016 19:19

Requires a subscription but heading sums it up really. 2017 has to be nu oil year!!!!!

[pj787] 28/12/2016 19:13

The below taken from the above link and well worth read! Nu oil are placed well to take advantage of current oil price!! Maybe nu oil has timed this very well I can see some projects definitely coming to fruition..... good luck all..

'If an oil price in the $60-$70 range were attained, and was believed by investors to be sustainable, a significant number of these undeveloped discoveries could become viable following recent cost reductions. Further tax incentives could also make marginal fields viable'

[pj787] 28/12/2016 18:55

Technology helps provide answers for market woes
“Something has to change.” In a down rig market, the call-to-action weighs heavily on technology to find a way to do things differently—reduce cost, improve performance or provide another option. Innovative engineering seldom has had more fertile ground than it does today.

[pj787] 28/12/2016 15:12

Yes eas correct. As for everyone you can either look back and think what went wrong and why, yes projects failed price oil collapsed..enegi is in the past! Or you could look forward as the market tends to... marginal field strategy is there concern now not conventional.

Also just to add G2 company approached nu oil not the other way around why you may will ask! there must be something there for them to take that risk...

[easwarareddy] 28/12/2016 14:47

I went over the recent results on and notes on it. ..Management is confident that we will be able to close a transaction through MFDevCo over the next period and we look forward to working on these projects.we are actively working on a number of significant opportunities to enable us to implement the MFD strategy."These two tend to stick out

[taxibabe] 28/12/2016 14:28

I had to laugh when Alan Minty talked about EL1070 producing 20000 barrels a day under the G20 company, assuming they proceed with drilling after the testing phase in the first place As I understand it they are merely "testing an area behind the casing". George Langdon is ever the opportunist having bailed from CIVIC to SHP and then abandoned SHIP to go independent having surfacing here. As the podcast said - "he has raised over $100 million dollars" before going private to take advantage of ENEGI'S/NUOG weakness. I wonder what that investment of $100 million dollars is worth now? Clue starts with a big fat ZERO. CIVIC are suspended at nil and Shp have no bid either. Good luck all