Share Name Share Symbol Market Type Share ISIN Share Description
Nu-Oil & Gas LSE:NUOG London Ordinary Share GB00B29T9605 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.005p -0.55% 0.90p 1,695,889 09:28:39
Bid Price Offer Price High Price Low Price Open Price
0.87p 0.93p 0.905p 0.90p 0.905p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -1.67 -0.20 12.2

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22/10/201810:43ANY NUwS2,841
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DateSubject
22/10/2018
09:20
Nu-Oil & Gas Daily Update: Nu-Oil & Gas is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker NUOG. The last closing price for Nu-Oil & Gas was 0.91p.
Nu-Oil & Gas has a 4 week average price of 0.86p and a 12 week average price of 0.85p.
The 1 year high share price is 1.88p while the 1 year low share price is currently 0.66p.
There are currently 1,351,701,753 shares in issue and the average daily traded volume is 3,824,681 shares. The market capitalisation of Nu-Oil & Gas is £12,165,315.78.
20/10/2018
22:46
icac: We invest our hard earned cash based on company operation updates not based on Morons joining stupid dots and concluding with ridiculous share price figures. The current share price speaks for itself, not doing great right? And this reflect to the company performance... The truth is minty been telling lies, and Simon is covering minty up with his worthless tweets. The clock is moving back next week meaning it will get darker early but that is nothing compared the NUOG.
15/10/2018
13:54
thecashmoney: Let's put some actual research on risk. Cash position at the moment is circa 300k ,that's based on the cash burn rate of previous 12 months.Seadog talks about there is other ways to make the cash last longer ,de ferred wages and loans ,so this could be true so it could last a little longer .How much longer is not known ,how low a figure will the nomad allow is also not known .Timescales to revenue ,if production pasted straight away to mfdevco and remember mfdevco control the cash.What portion if any would pass to the NU oil group,if the revenue was to fund re development ,if you look at current dommo figures of 12 m US and this could be less as they are debt free currently and mfdevco would have heavy liability,you can't possibly see an improvement in profitability.Until the field dynamics have been improved . what does this mean for NU oil if revenue passed direct to nu oil it would probably warrant 2.25 m per annum and support a current share price of 1.9 -2p valuation.That wouldn't be a bad thing moving forward especially in this bear market it's hard to see even them levels being breached allthough a element of hope cope be priced into the share price redevelopment figures obviously if they achieved forcast , would dramatically improve fundamentals,but it's all ifs and buts.Will the deal come before cash runs out ?There is alot of unknowns and this is reflected in the current share price ,it is very clear to see.So there are rewards and there are risks ,place your bets
14/10/2018
10:41
thecashmoney: Let's put some actual research on risk. Cash position at the moment is circa 300k ,that's based on the cash burn rate of previous 12 months.Seadog talks about there is other ways to make the cash last longer ,de ferred wages and loans ,so this could be true so it could last a little longer .How much longer is not known ,how low a figure will the nomad allow is also not known .Timescales to revenue ,if production pasted straight away to mfdevco and remember mfdevco control the cash.What portion if any would pass to the NU oil group,if the revenue was to fund re development ,if you look at current dommo figures of 12 m US and this could be less as they are debt free currently and mfdevco would have heavy liability,you can't possibly see an improvement in profitability.Until the field dynamics have been improved . what does this mean for NU oil if revenue passed direct to nu oil it would probably warrant 2.25 m per annum and support a current share price of 1.9 -2p valuation.That wouldn't be a bad thing moving forward especially in this bear market it's hard to see even them levels being breached allthough a element of hope cope be priced into the share price redevelopment figures obviously if they achieved forcast , would dramatically improve fundamentals,but it's all ifs and buts.Will the deal come before cash runs out ?There is alot of unknowns and this is reflected in the current share price ,it is very clear to see.So there are rewards and there are risks ,place your bets .
12/10/2018
23:18
icac: I am astonished with a few investors that came from the LSE board and seem very worried with their investment when a few posters from here just laughing and joking with some carrots and balloons. There's no one in ADVFN your looking for. If you guys are looking for the idiot, the idiot is the guy that predicted the share price will be 26p - 29p nuog share price before 2018 end.
09/10/2018
22:40
thecashmoney: Search Stock Your avatar Upgrade Logout Monitor Quote Charts Trades News Financials Toplists Alerts Portfolio Level 2 Free BB PBB ADVFN Logo Copyright © 2018 ADVFN plc Switch to Desktop View Nu-Oil & Gas Share Chat - NUOG Current Price 0.93 0.015 1.6% Bid Price Offer Price 0.90 0.96 High Price Low Price Open Price 0.935 0.915 0.915 Shares Traded Last Trade Market Cap (m) 862,646 15:24:33 12.57 Nu-Oil & Gas Share Discussion Threads Next Page Date Subject 09/10/2018 22:13 royscot1: CM sent you a DM. Read Full ThreadFollowReply 09/10/2018 21:49 thecashmoney: Thanks mate 🤗 Read Full ThreadFollowReply 09/10/2018 20:19 nudog69: Well done monkey 🐒💦 🤠 Read Full ThreadFollowReply 09/10/2018 20:07 thecashmoney: Gg21 still holding not as much ,I am just stating what is coming ,don't believe wait and see 👍 Read Full ThreadFollowReply 09/10/2018 19:54 thecashmoney: I don't de ramp if I did I would be short ,there is no financial gain here for me but I feel I've been such a supporter that I must give my reasons as highlighted .Like you say don't agree with the normal you are a troll ,well see who is correct over the next few weeks and months .I was attacked on LSE so here is my response but it's what a believe no de ramp it's just oppinion ,keep topping up lol Read Full ThreadFollowReply 09/10/2018 19:47 thecashmoney: Royscott thanks and what a excellent post fantastic ,GHS is in my opinion been covered up .I know the reasons for no flow tests ,but I won't go into it on here .It seems to me end of July the deal was completed this end and for some reason it's not been accepted ,whether it's a delay or something else I don't know ,but I've looked for reasons why this could be so ,at the end of the day it's my money ,why the hell should I listen to others.I make a decision and I act ,if I am wrong it's nobody else's fault but my own .I am sick to death of reading all is well it's coming ,rubbish like oh we just stick a new rig here and there lol ,I've given up reading the nonsense and I am going to take a step out of this now as I don't feel there is anything left to say tbh .CM Read Full ThreadFollowReply 09/10/2018 19:31 royscot1: CM, well done on your research. I am annoyed that people who don't toe the party line get shot down as derampers. The fact is, you are invested and have been supportive for a long time. However, at what point do we PI's start saying enough is enough? Why should we trust anything that is said about Brazil when they have seem to so spectacularly ballsed up GH? Talk about clutching defeat from the jaws of victory. We were told months ago (April) about the beginning of flow tests, the minute DNR approval was given, Simon traveled for a week to get there, took some pictures, done a podcast, it was all building up to a crescendo and then nothing, absolutely nothing. Yet no hint of an apology, no transparency, just vague supply chain issues. This site is in Canada not the dark side of the moon. The fact is it feels like the exact same thing is happening here with TB and the Brazil deal. Short order, tweets, coal face, exciting times, Alison Pegram can't make it up for air because she's so "busy" on this deal then when she does surface she delivers a podcast that's completely off message and makes it sound anything but exciting and more like an uphill struggle. So it's no wonder that now 2 months on from even that rambling nonsense that people are beginning to think is this GH (history) repeating itself all over. Building up to something and then absolutely nothing, only unlike GH they can still tweet nonsense about aspirational ambition, engagement, other companies activities and industry reports and we are supposed to just accept that? Private Investors have a right to question this pattern of events and all the while the cash is burning away and I really don't get the sense we are any closer, for all the reasons CM has outlined and more. I have great respect for CM, Seadog and others who genuinely want this to succeed but we can't just accept poor behaviour poor governance, or even reality because we are scared what it might do to the share price. It's time for this BOD to give us an official update, warts and all otherwise trust will continue to evaporate and sharply!! Read Full ThreadFollowReply 09/10/2018 19:16 yingtong: Another though of course is that they could dispose of Martelo ang give up on atlanta if they believe atlanta is lost. They then have no active assets and liquidate. 95% of the equity is owned by the previous debenture holders, the bondholders and the previous guarentee holders. So nothing can ve ruled out. Liquidation might give an adequate returns. The pre-reorg holders only hold 5%. I dont rule anything out. Read Full ThreadFollowReply 09/10/2018 19:05 thecashmoney: Thanks for that I'll add it to my notes Read Full ThreadFollowReply 09/10/2018 19:00 yingtong: Q2 was also light due to offtake schedule. CBA to look at the results again but they pumped about 200k more than they sold. Swings and roundabouts to be fair, they seem to only sell oftakes around 250k. They also posted the other day that atlanta had produced approx 1200k and they were entitled to 480k of it (though of course they also acknowledged that is in dispute). Read Full ThreadFollowReply 09/10/2018 18:38 thecashmoney: You see I actually do research ,unlike most who just get fed what Alan tells them , I've looked into reasons for non delivery,I might take some in the placing at .7 ,thanks and good night Read Full ThreadFollowReply 09/10/2018 18:38 nudog69: ☠️ϧ;6;️🥕 Read Full ThreadFollowReply 09/10/2018 18:22 thecashmoney: Pick the bones out of that lot 🤔 Read Full ThreadFollowReply 09/10/2018 18:20 thecashmoney: But Dommo are not without strength. Remembe that they said we need 46m to redevelop and cant so will decomm. I am not sure exactly when they said that but. - was it before the reorg completed. As i recall it was just one option. - has the decline expected actually happened ? I.e. the situation has changed quite a lot since then. Does that change their view ? Who knows, but it sure is entirely relevant. Read Full ThreadFollowReply 09/10/2018 18:13 thecashmoney: The thing is that anp will need to approve the new platform operator. A bigger issue is the option. A new platform operator would be mad to leave the option with the bondholders. So the option can be lapsed. In which case the sword of damocles is removed from them. At no cost. Or the option is exercised. They have to do this in 5 days. So they have to be approved by the anp. Thus everthing has to be agreed as to what happens with the option (90% itcis not exercised) and the terms related to it. That is the only lever mfdevco have for getting the field revenue improved from the current. since settlement has been reached dommos position from the field is much improved. They also cant really finalise much until atlanta is known if they are thinking of giving up the field. Dommo are incentivised for maintaining the status quo in terms of revenue distribution and dont care about a new fpso operator. But a new fpso operator cares about the field via option.bs4 how long will that take ???
16/8/2018
19:43
thecashmoney: 13:18 thecashmoney: Things are getting very exciting here as a number of things come together at the same time. One of the reasons i invested here is that this has never been a one trick pony. It has, however, been a tough time for shareholders as the challenges of investing in oil and gas have meant that we have been left waiting much longer than anyone would like. My main reason for investing remain the marginal field strategy - that really looks like it is getting ready to deliver the transformational deal that we have all been so patiently waiting for. We have been through two placings, lived with the disappointment of encouraging statements made that have not been met timescales - e.g. Minty stating 3 to 6 months in a podcast in April 17, to Simon’s statement in a podcast that he hoped a deal would land before Christmas. It would be so easy to dismiss the current anticipation (as many of the trolls on here frequently do) by reference to those statements. Problem for them is that they rarely mention the actual evidence that indicates things really are concluding now. Anyone at the AGM in Jan will tell you that the team said it would take around 6 months to complete a deal - and we are very much in that timescale. The important thing for me is the steady stream of what should be value adding news that we have already had. Jan 18 - Aker Solutions join the consortium. They are a fundamental member of the consortium if they are going to take on an already producing field. They also have a big footprint in Brazil. And just remind me why this billion pound company have decided to get into bed with a £14m minnow? Why would they commit their time and resources to working with MFDevCO in assessing assets? They donâ€482;t strike me as a charity. In Feb 18 we have the company set up subsidiaries for MFDevCo Brazil holdings and MFDevCO China facilities on the same day. A month later we are told that they are looking at a very valuable opportunity in Brazil and have to create the project structures for projects to reside in. In July we are told that they have identified a facility in China to bring onto the project. Why would you do that if you were not planning to develop the field that you were planning to take on? In March they told us an end point was in sight and that they were concluding the deal in short order. 3 months later they updated us - telling us all of the work that they had done to evaluate this opportunity by looking at all the data and evaluating all the sub surface engineering work in order to determine the planning for the development of the field. That all takes considerable time - in oil and gas you have to be sure that what you are taking on is a good opportunity - and we have been told that all that important time consuming work has now been competed. Think too that if they have identified a facility from China to develop the field, in order to do that you need a clear idea of what sort of facility you need to bring in - its capabilities and capacity - what sort of top side engineering you want. To understand that you need a clear idea of how the field will be developed - what sort of production rates you can expect in the future, how many wells you are planning to drills etc. All that engineering evaluation takes time to complete - and its now been done. 5 weeks ago they told us that they were in the final stages of negotiating a very valuable deal - that there were hurdles to competition (i.e. someone else was not going to swoop in at the last minute) - and that they were negotiating the finance in a way that avoids dilution. Then in messages from the company a few weeks ago they told us that they were doing the due diligence with colleagues from overseas - you only do due diligence right at the end - after you have already agreed the outline terms and just before you make the deal. Now they are now indicating that they have made very significant progress in that process. We are just waiting to find out what that is - but the indications are that they are still moving forward. Yet you can still pick up shares here for a 10% discount to the placing back in March. What should be value adding news in any other company has not been here - largely as a result of the ghost of old Enegi Oil in my view - this means that they suffer from a serious credibility problem that holds the share price back despite that the recent statements have been cleared by the Nomad and that they have the backing of billion pound companies. Some of us have chosen to put our faith in our research and use the evidence as an opportunity to build a large stake in this company - and if you do even the most conservative sums on what a deal for an already producing field would be - you know that this will multi bag from here and will provide life changing sums for investors prepared to take a risk. Up to you how much risk you are prepared to take - all i every say is that you should at least make your mind up on the actual evidence not on the alternative narrative that some uninvested troglodyte is trying to spin. We also have garden hills - but for me that has always been an interesting side show - even if its going to be a valuable side show once they develop the wider area. The workover of the current well is taking forever - but we know its history - and although progress has been made on this well in removing the blockages and getting it ready to flow - that is not where the value lies. Donâ€482;t get me wrong however, any production from this well will be good - and even very low flow rates - remember its already flowed at around 200 bopd over a sustained period - and that would be worth around 2p on the share price. Its the farm in that iâ€͐;;;;;;2;m interested in. The timeline for that it approaching - but if you go back to the wording in the RNS - “The Company anticipate that the Head of Terms will lead to the Parties entering into a definitive agreement within 75 daysâ€� its not a completely definitive one. While i donâ€482;t think that the logistics issues they are having with the current well is related to progress on concluding the farm-in it may have had an effect on the effort available. You also have to factor in that in Newfoundland they seem to do business at their own pace. Hopefully we will get an update form the company at some point next week. For me - the timescale is less important than they continue to progress getting a consortium formed to further develop the wider area. Remember the wording from the RNS: “a new well will target areas of hydrothermal dolomite down-dip from the current PAP#1-ST#3 well, which demonstrate enhanced connectivity and porosity and are therefore believed to be able to deliver higher flow rates. Increasing production rates will significantly increase the total volume of oil that can be commercially recovered from Garden Hill and, as a result, drilling the proposed well will improve the economic return from the lease. “ August looks like it could be the most exciting month we have had in the history of this company. #excitingtimes
15/8/2018
18:25
thecashmoney: 14/8/2018 13:18 thecashmoney: Things are getting very exciting here as a number of things come together at the same time. One of the reasons i invested here is that this has never been a one trick pony. It has, however, been a tough time for shareholders as the challenges of investing in oil and gas have meant that we have been left waiting much longer than anyone would like. My main reason for investing remain the marginal field strategy - that really looks like it is getting ready to deliver the transformational deal that we have all been so patiently waiting for. We have been through two placings, lived with the disappointment of encouraging statements made that have not been met timescales - e.g. Minty stating 3 to 6 months in a podcast in April 17, to Simon’s statement in a podcast that he hoped a deal would land before Christmas. It would be so easy to dismiss the current anticipation (as many of the trolls on here frequently do) by reference to those statements. Problem for them is that they rarely mention the actual evidence that indicates things really are concluding now. Anyone at the AGM in Jan will tell you that the team said it would take around 6 months to complete a deal - and we are very much in that timescale. The important thing for me is the steady stream of what should be value adding news that we have already had. Jan 18 - Aker Solutions join the consortium. They are a fundamental member of the consortium if they are going to take on an already producing field. They also have a big footprint in Brazil. And just remind me why this billion pound company have decided to get into bed with a £14m minnow? Why would they commit their time and resources to working with MFDevCO in assessing assets? They donâ€482;t strike me as a charity. In Feb 18 we have the company set up subsidiaries for MFDevCo Brazil holdings and MFDevCO China facilities on the same day. A month later we are told that they are looking at a very valuable opportunity in Brazil and have to create the project structures for projects to reside in. In July we are told that they have identified a facility in China to bring onto the project. Why would you do that if you were not planning to develop the field that you were planning to take on? In March they told us an end point was in sight and that they were concluding the deal in short order. 3 months later they updated us - telling us all of the work that they had done to evaluate this opportunity by looking at all the data and evaluating all the sub surface engineering work in order to determine the planning for the development of the field. That all takes considerable time - in oil and gas you have to be sure that what you are taking on is a good opportunity - and we have been told that all that important time consuming work has now been competed. Think too that if they have identified a facility from China to develop the field, in order to do that you need a clear idea of what sort of facility you need to bring in - its capabilities and capacity - what sort of top side engineering you want. To understand that you need a clear idea of how the field will be developed - what sort of production rates you can expect in the future, how many wells you are planning to drills etc. All that engineering evaluation takes time to complete - and its now been done. 5 weeks ago they told us that they were in the final stages of negotiating a very valuable deal - that there were hurdles to competition (i.e. someone else was not going to swoop in at the last minute) - and that they were negotiating the finance in a way that avoids dilution. Then in messages from the company a few weeks ago they told us that they were doing the due diligence with colleagues from overseas - you only do due diligence right at the end - after you have already agreed the outline terms and just before you make the deal. Now they are now indicating that they have made very significant progress in that process. We are just waiting to find out what that is - but the indications are that they are still moving forward. Yet you can still pick up shares here for a 10% discount to the placing back in March. What should be value adding news in any other company has not been here - largely as a result of the ghost of old Enegi Oil in my view - this means that they suffer from a serious credibility problem that holds the share price back despite that the recent statements have been cleared by the Nomad and that they have the backing of billion pound companies. Some of us have chosen to put our faith in our research and use the evidence as an opportunity to build a large stake in this company - and if you do even the most conservative sums on what a deal for an already producing field would be - you know that this will multi bag from here and will provide life changing sums for investors prepared to take a risk. Up to you how much risk you are prepared to take - all i every say is that you should at least make your mind up on the actual evidence not on the alternative narrative that some uninvested troglodyte is trying to spin. We also have garden hills - but for me that has always been an interesting side show - even if its going to be a valuable side show once they develop the wider area. The workover of the current well is taking forever - but we know its history - and although progress has been made on this well in removing the blockages and getting it ready to flow - that is not where the value lies. Donâ€482;t get me wrong however, any production from this well will be good - and even very low flow rates - remember its already flowed at around 200 bopd over a sustained period - and that would be worth around 2p on the share price. Its the farm in that iâ€͐;;;;;2;m interested in. The timeline for that it approaching - but if you go back to the wording in the RNS - “The Company anticipate that the Head of Terms will lead to the Parties entering into a definitive agreement within 75 daysâ€� its not a completely definitive one. While i donâ€482;t think that the logistics issues they are having with the current well is related to progress on concluding the farm-in it may have had an effect on the effort available. You also have to factor in that in Newfoundland they seem to do business at their own pace. Hopefully we will get an update form the company at some point next week. For me - the timescale is less important than they continue to progress getting a consortium formed to further develop the wider area. Remember the wording from the RNS: “a new well will target areas of hydrothermal dolomite down-dip from the current PAP#1-ST#3 well, which demonstrate enhanced connectivity and porosity and are therefore believed to be able to deliver higher flow rates. Increasing production rates will significantly increase the total volume of oil that can be commercially recovered from Garden Hill and, as a result, drilling the proposed well will improve the economic return from the lease. “ August looks like it could be the most exciting month we have had in the history of this company. #excitingtimes
13/8/2018
23:24
thecashmoney: Things are getting very exciting here as a number of things come together at the same time. One of the reasons i invested here is that this has never been a one trick pony. It has, however, been a tough time for shareholders as the challenges of investing in oil and gas have meant that we have been left waiting much longer than anyone would like. My main reason for investing remain the marginal field strategy - that really looks like it is getting ready to deliver the transformational deal that we have all been so patiently waiting for. We have been through two placings, lived with the disappointment of encouraging statements made that have not been met timescales - e.g. Minty stating 3 to 6 months in a podcast in April 17, to Simon’s statement in a podcast that he hoped a deal would land before Christmas. It would be so easy to dismiss the current anticipation (as many of the trolls on here frequently do) by reference to those statements. Problem for them is that they rarely mention the actual evidence that indicates things really are concluding now. Anyone at the AGM in Jan will tell you that the team said it would take around 6 months to complete a deal - and we are very much in that timescale. The important thing for me is the steady stream of what should be value adding news that we have already had. Jan 18 - Aker Solutions join the consortium. They are a fundamental member of the consortium if they are going to take on an already producing field. They also have a big footprint in Brazil. And just remind me why this billion pound company have decided to get into bed with a £14m minnow? Why would they commit their time and resources to working with MFDevCO in assessing assets? They donâ€482;t strike me as a charity. In Feb 18 we have the company set up subsidiaries for MFDevCo Brazil holdings and MFDevCO China facilities on the same day. A month later we are told that they are looking at a very valuable opportunity in Brazil and have to create the project structures for projects to reside in. In July we are told that they have identified a facility in China to bring onto the project. Why would you do that if you were not planning to develop the field that you were planning to take on? In March they told us an end point was in sight and that they were concluding the deal in short order. 3 months later they updated us - telling us all of the work that they had done to evaluate this opportunity by looking at all the data and evaluating all the sub surface engineering work in order to determine the planning for the development of the field. That all takes considerable time - in oil and gas you have to be sure that what you are taking on is a good opportunity - and we have been told that all that important time consuming work has now been competed. Think too that if they have identified a facility from China to develop the field, in order to do that you need a clear idea of what sort of facility you need to bring in - its capabilities and capacity - what sort of top side engineering you want. To understand that you need a clear idea of how the field will be developed - what sort of production rates you can expect in the future, how many wells you are planning to drills etc. All that engineering evaluation takes time to complete - and its now been done. 5 weeks ago they told us that they were in the final stages of negotiating a very valuable deal - that there were hurdles to competition (i.e. someone else was not going to swoop in at the last minute) - and that they were negotiating the finance in a way that avoids dilution. Then in messages from the company a few weeks ago they told us that they were doing the due diligence with colleagues from overseas - you only do due diligence right at the end - after you have already agreed the outline terms and just before you make the deal. Now they are now indicating that they have made very significant progress in that process. We are just waiting to find out what that is - but the indications are that they are still moving forward. Yet you can still pick up shares here for a 10% discount to the placing back in March. What should be value adding news in any other company has not been here - largely as a result of the ghost of old Enegi Oil in my view - this means that they suffer from a serious credibility problem that holds the share price back despite that the recent statements have been cleared by the Nomad and that they have the backing of billion pound companies. Some of us have chosen to put our faith in our research and use the evidence as an opportunity to build a large stake in this company - and if you do even the most conservative sums on what a deal for an already producing field would be - you know that this will multi bag from here and will provide life changing sums for investors prepared to take a risk. Up to you how much risk you are prepared to take - all i every say is that you should at least make your mind up on the actual evidence not on the alternative narrative that some uninvested troglodyte is trying to spin. We also have garden hills - but for me that has always been an interesting side show - even if its going to be a valuable side show once they develop the wider area. The workover of the current well is taking forever - but we know its history - and although progress has been made on this well in removing the blockages and getting it ready to flow - that is not where the value lies. Donâ€482;t get me wrong however, any production from this well will be good - and even very low flow rates - remember its already flowed at around 200 bopd over a sustained period - and that would be worth around 2p on the share price. Its the farm in that iâ€͐;;;;2;m interested in. The timeline for that it approaching - but if you go back to the wording in the RNS - “The Company anticipate that the Head of Terms will lead to the Parties entering into a definitive agreement within 75 daysâ€� its not a completely definitive one. While i donâ€482;t think that the logistics issues they are having with the current well is related to progress on concluding the farm-in it may have had an effect on the effort available. You also have to factor in that in Newfoundland they seem to do business at their own pace. Hopefully we will get an update form the company at some point next week. For me - the timescale is less important than they continue to progress getting a consortium formed to further develop the wider area. Remember the wording from the RNS: “a new well will target areas of hydrothermal dolomite down-dip from the current PAP#1-ST#3 well, which demonstrate enhanced connectivity and porosity and are therefore believed to be able to deliver higher flow rates. Increasing production rates will significantly increase the total volume of oil that can be commercially recovered from Garden Hill and, as a result, drilling the proposed well will improve the economic return from the lease. “ August looks like it could be the most exciting month we have had in the history of this company. #excitingtimes
27/2/2018
12:04
bumpa33: Nu-Oil and Gas (NUOG) seems to be one of those AIM shares which periodically finds favour with private investors, despite never actually having achieved anything of note other than burning through investors cash over the years. Going right back to its previous incarnation as Enegi, it would go through spells where it suddenly became popular and saw a sharp rise in the share price, only to then drop back when that was never backed up by actual news. It seems to be following the same pattern again, as it has recently risen from around 0.75p at the end of 2017 to its current share price of 1.8p, and without any actual news to justify a £12.5 million increase in the market cap. When you look at it in the context of change in market valuation it seems even more crazy that it has increased so much. There was a similar rise during the middle part of last year when investors got excited about the work being carried out by PVF Energy at its PL2002-01(A) well at Garden Hill, in Newfoundland, to remove a blockage which had been in place for several years, with the well not having produced anything since 2013. The work to clean up the well was completed at the end of November and took far longer than was originally anticipated, and no doubt cost a lot more as well. This leaves me wondering just how long it will be - even assuming the well produces commercially - before Nu-Oil sees any profits, given that the agreement with PVF gives it 50% of profits after the recovery of all costs. An extended well test will be carried out, but thus far there is no definitive timescale in place for that, and the funding of it is also unclear, although there is the possibility of a farm-in agreement between the two companies. With all being fairly quiet with regards to Garden Hill, attention seems to have shifted to the company’s 50:50 partnership in privately owned Marginal Field Development Company, and the recent rise in share price seems to be connected to the shameless ramping of how great this part of the business is. To hear people banging on about MFDevCo on social media you would be forgiven for thinking that it was a successful business with a string of past projects. The reality is somewhat different though, and although the company talks about managing marginal fields through their lifecycle, it is yet to do so with a single project since its incorporation in June 2013. Over the past year or so there have been fairly regular updates about new agreements that MFDevCo has entered into, and often with names which are recognised within the sector. The most recent came in early January, with an agreement with Aker Solutions to provide installation operator services exclusively for a period of five years. Of course Aker has nothing to lose, as if some projects are secured then great, and if not then it hasn’t lost anything. What I do find interesting is that similar agreements were entered into several years ago when the company was still known as ABT Oil and Gas, and there was talk of all the projects it would be getting involved in. In mid-2014 it announced a joint venture with oil services giant Wood Group PSN, but just a year later that was terminated. Who knows, things may be different this time around, but I won’t be holding my breath given the past performance and fact that the same characters are still controlling things here. MFDevCo does now have a 10% interest in the Dunmore and Helvick licences in the Celtic Sea, and with the option for a staged 50% farm in if a work plan is carried out and development approved. Given that both licences have flowed discoveries dating back to the early to mid 1980s, and neither has yet been developed, it does raise the question as to just how viable they are commercially, especially with oil prices not expected to regain the previous highs that we have seen during that period. I would also question exactly how MFDevfCo is planning to fund all of these projects which it talks about, given that it has never had any cash in the bank. The last set of accounts are only up until the end of June 2016, but showed that it only had £976 in the bank at the time – similar to the previous year – but had trade and other payables in excess of £2.15 million, the vast majority of which were accrurals. The next accounts up to the end of June 2017 are due by the end of March – assuming the company manages to file them in time, which it hasn’t in the past – and should give a clearer picture as to any changes to its financial situation. But I wouldn’t exactly expect to suddenly find it awash with the cash which it will need. Of course Nu-Oil has been funding some of the ongoing work associated with these marginal field projects and assessing their suitability, and the company has raised funds to do so – the most recent being £1.1 million gross in early July at 1.1p. But Nu isn’t exactly in a great financial situation itself, and at the last set of accounts up until the end of June 2017 it had net liabilities of nearly £1.9 million – although subsequently that would have improved once the placing cash came in. At the time it also had net current liabilities of £3.25 million, so technically was insolvent, although in reality much of the current liability is deferred – such as the outstanding £1.78 million loan with Shard Capital, but that can be recalled at any time. There is also over £1 million owed to RMRI, which is controlled by many of the same directors as Nu-Oil, including Alan Minty who holds in excess of 50% of the shares in RMRI. It had £650,000 odd in the bank, and if we add on the cash from the placing that would give at least £1.65 million (depending on the net proceeds raised), plus it has also raised a further £380,000 from the exercise of warrants since the last accounts were published, so just over £2 million in total. But if we consider that it burned through more than £1.67 million during that year, and looks to have stepped up its activity level since then, I would expect that we will see further fundraising activity within the next couple of months – assuming that the company won’t want to leave this until such time as it is skint. One thing which is interesting when it comes to its outgoings, is the amounts that the directors are paying themselves, with both Damian Minty and Alan Minty taking pay rises in excess of 25% despite achieving little other than largescale dilution for longer term investors. For the year ended June 30 2017, Alan Minty received £190,000 (up from £150,000), Damian Minty £150,000 (compared to £120,000 in 2016), and £120,000 to Tejvinder Minhas compared to £90,000. In total the directors were paid £538,000 for the year. So even if you are prepared to forgive the past failures of the board here, it is hard to justify anywhere near the current market cap, especially given the precarious financial situation of the company, and the fact that it will soon need to raise funds yet again. If you are lucky enough to be holding then I would be grabbing the sell price of around 1.75p whilst it is still available. I certainly don’t consider it an investment at this price and it is a company that I would avoid.
12/3/2017
20:35
ride the wave 1: Taken from LSE 27/2/17 (options rns day). The 48m options which are at 0.6p to be exercisable within 5 years and only then after a 9 month lock in process are for salaries not taken up from the past. Nigel Burton as an example is getting none as a reward since he only joined in Nov 15. So as an example Alan Minty gets 12m at 0.6p. If exercised today that would be £72k. However if the share price was to hit say 5p then that would be £600k. No one is going to say no to that! If Minty was just going to take £72k then he has only taken possibly less than he would have had he taken a wage in the first place. So for the directors the objective is to get the price high enough to make good use of the options. If we took Minty again as an example based on his previous options of 5m, exercisable at 16.4p, that would have brought in £820k. Now assuming again he is targetting that value into the next 5 years, he will need to see a price of around 4.1p to get the same resultant incentive from his total 20m options made up of reward and incentives. This means that we can say that the minimum target that the directors are placing on NUOG into the future is 4.1p and the tops would be lower than 16.4p (otherwise they could have kept those previous options intact instead of cancelling). I think what some want from NUOG and what is realistically achievable is slowly beginning to sink in. For me this shouts volumes.... OK there is a little dilution but ultimately the directors are awarded options at a decent premium... This means they will be working extra hard to get the share price up so that they benefit from the options.... We know that they are working on a aquisition, so when news lands we will get a nice spike in the share price ... Directors will no doubt want the share price higher when their options are due to be exercised.... Quite obvious they didn't take wages at some point last year but kept working as they had belief in the company . People wanting that lower entry point will be out in force today based on the misconception this is bad news , but in fact its quite the opposite and those options provide an incentive for the hard working directors to get these deals over the line. I mean nukem with his 20 post history posting today and of course you will see others. If the bod are owed wages and they have taken options above the current share price then that should tell you all you need to know about where they see the future share price Jmo I’ve looked at the LSE chat and I guess there are several points: 1 Options are of no value until the share price rises above the exercise price, so at the moment these are worthless 2 Directors have been given options not shares, so for example if the share price reaches 1p Direc
Nu-Oil & Gas share price data is direct from the London Stock Exchange
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