Paternoster Resources Share Discussion Threads

[swizz] 14/3/2016 19:10

s2, I think with MXO it may be one step backwards and two huge steps forwards, more to follow on that one IMHO, let's just see what the next couple of weeks brings for MXO,....GL S

[sweepie2] 14/3/2016 19:08

Nice rebound today at PRS and finally in profit, hopefully will carry on tomorrow, nice surprise to come home to heavily in HNL as well so pretty happy atm, fingers crossed not as sick as a dog tomorrow after work

[sweepie2] 14/3/2016 18:59

ZimNRG plc TRANSACTION PROCEEDS



Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects, is pleased to announce that at a Shareholder General Meeting on 11th March 2016 held by ZimNRG plc (ISDX:ZIMO) all resolutions were duly approved.

Following approval by ZimNRG shareholders Metal Tiger has now invested £50,003 to acquire 19,027,268 ZimNRG shares representing a 28.25% holding. The investment will be held in the Metal Tiger Asset Trading Division.

Shareholders wishing to examine the basis of this investment should refer to Metal Tiger's announcement of 11th February 2016 within which the terms of the transaction were disclosed.

ZimNRG is now undertaking the process of changing its name to Metal NRG which will now pursue business transactions in line with a new investing policy an extract of which is provided below:

"The Company's proposed new Investing Policy is to invest in and/or acquire companies and/or projects within the natural resources and/or energy sector with potential for growth and value creation, over the medium to long term. The Company will also consider opportunities in other related sectors if the Board considers there is an opportunity to generate an attractive return for Shareholders. This will include natural resource technologies and fintech opportunities offering leverage to resource identification, processing, recording, storage and trading businesses."



Paul Johnson, Chief Executive Officer of Metal Tiger plc commented "we are delighted to see crystallisation of the ZimNRG transaction following shareholder approval. I have now joined the Board of ZimNRG to monitor and advance Metal Tiger's investment and look forward to working with the ZimNRG team to progress a number of new opportunities, some of which may emerge from Metal Tiger's pipeline of opportunities.

Metal Tiger is building relationships with a number of AIM and ISDX companies to provide a number of avenues through which initiatives and opportunities can be channelled. The ZimNRG transaction is the first to crystallise in this regard.

As Metal Tiger advances and grows, it is vital to focus the Company in the optimal manner to build value for shareholders. Recently the Company has made significant progress in its key strategic project investments including Botswana, Spain and Thailand. The Company's Board therefore see the need to focus the majority of our efforts on the strategic projects where there is potential for significant valuation uplift for shareholders.

By developing our external network through ISDX and AIM peers, we can make sure the focus of Metal Tiger is fixed on building our strategic project interests, whilst otherwise crystallising near term value and on-going working capital from the Company's pipeline of opportunities."

[swizz] 14/3/2016 18:12

Good to hear from you Ryan, it seems eons since we last crossed paths, hopefully just the beginning for us today, with the light from MTR illuminating the darkness of PRS,.....Cheers S

nop - Btw, at least we are circa 4 times our cover of original investment in PPG 👍

[ryan83] 14/3/2016 16:19

swizz, joined you here today mate!

[swizz] 14/3/2016 11:16

I think people are starting to dial into the MTR value increasing...GL S

[maytrees] 14/3/2016 10:05

Good morning all

More interest today and an share price gain so far at least.

[swizz] 11/3/2016 12:47

S2, not for long though, MTR very much heading back up, interesting to see NCT is seeing some interest today......GL S

[sweepie2] 11/3/2016 12:15

MTR
Coming off the boil slightly but I did expect that reaction as there has been too many director purchases recently. Could well be us in a couple of weeks when the update comes out and wouldn't be at all surprised to see PRS free up some of their investment in MTR

[swizz] 11/3/2016 10:41

Interesting to note MTR heading in to new waters, if they carry on at this rate, they alone will cover the PRS Mkt cap!.......GL S

[sweepie2] 11/3/2016 09:34

Quiet day for nearly all the investments, calm before the storm as I do expect more interest on the next update for PRS

[sweepie2] 10/3/2016 14:57

Looks like its coming out towards the end of the month as I would have expected alot more volume if its close but when released it should give abit of a boost

[swizz] 10/3/2016 12:58

Hopefully the next quarterly update will create the impetus to get things moving, I cannot help think that something is going on in the background and hence the fund raise and realisation of PPG shares at the back end of 2015,...we need news...GL S

[sweepie2] 10/3/2016 11:45

No doubt the latest sell will soon be bought up, valuation compared to assets pretty silly atm

[sweepie2] 10/3/2016 10:46

Yes and more director purchases announced today at MTR, with a fair wind they could cover most of PRS MC in the next month the way things are developing there.
Some people snapping up any sells here so this is the bottom, looking forward to seeing us rise soon

[swizz] 09/3/2016 20:16

Someone is sending out a strong message, you sense the BOD of MTR are starting to turn up the volume,.....GL S

[sweepie2] 09/3/2016 18:55

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects, is pleased to announce that the Company's Chairman Terry Grammer has exercised 3,335,000 1.5p options over Metal Tiger ordinary shares at a total exercise cost of £50,025.



The exercise price represents a premium of 33.33% to the closing share price of Metal Tiger plc on 8th March 2016.



The options were originally granted to Mr Grammer on 15 December 2014 at an exercise price of 1.5p per ordinary share and with a three year maximum exercise period.



Following this transaction, Terry Grammer will hold 33,335,000 shares representing 7.47% of the Company's issued share capital.

[sweepie2] 08/3/2016 19:30

MTR
Even with all the good news can't sustain the rise as it was down by 13% today

[swizz] 07/3/2016 07:20

MTR - Another director share purchase, this time PJ for 705k.....GL S

Metal Tiger Plc
07 March 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")


DIRECTOR SHARE PURCHASE

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects, announces that the Company has been notified that on Friday 4th March 2016 Paul Johnson, Chief Executive Officer of Metal Tiger, purchased through the market 705,000 ordinary shares of 0.01 pence in the Company ("Ordinary Shares") at an average price of 1.17 pence per share (representing an additional £8,250 investment by Mr Johnson in Metal Tiger plc shares).

Following this transaction, Paul Johnson has a beneficial interest in 8,500,000 Ordinary Shares, representing 1.92% of the issued share capital of the Company.

[sweepie2] 07/3/2016 07:05

Northcote Energy Limited is pleased to announce that, further to the announcement of 2 February 2016, the Lutcher Moore #20 (‘LM#20’), located on the Shoats Creek Field in Louisiana (‘Shoats Creek’), has been added to production. Northcote directly owns a 70% working interest (‘WI’) and 52.8% net revenue interest (‘NRI’) in the well.

Following initial start-up of production operations certain changes to surface equipment were necessary to achieve consistent and sustainable production rates. These changes have been made and the well is currently being produced using a unidraulic jet pump and has been tested at a rate as high as 325 barrels of oil per day with a 30/64th inch choke; and for the last three days produced in excess of 200 barrels per day on an 18/64th inch choke (105.6 barrels per day net to Northcote) with a 30% oil cut. The operator, Shoats Creek Development, Inc., has advised Northcote that it intends to produce the well consistently at between 200 and 225 barrels of oil per day. In addition to oil production, gross natural gas volumes in excess of 250 thousand cubic feet per day (which are not presently being sold) have been metered.

The operator has elected to produce the well at a rate that it believes will maximise total recovery from the well and thus peak potential daily production rates substantially exceed current production levels. However, the objective is to produce at the maximum rate that can be sustained thereby minimising decline, optimising cumulative production and investment returns from the well. The operator of the well, Shoats Creek Development, Inc., has advised Northcote that it believes this rate of production to be in the 200 to 225 barrels of oil per day range. The Frio is a formation characterised by a strong water drive. Northcote believes, based on performance of the Lutcher Moore #16 well and experience of other local operators, that pulling the well too hard could result in pulling water from deeper in the formation outside the oil saturated pay zone which could have negative implications for cumulative life of well performance and result in substantially higher operating costs while pumping the well at lower pressure could result in a flatter decline curve.

In addition to a direct interest of 70% WI / 52.8% NRI in the well, Northcote also owns 48% of Springer Energy Partners, LP (“SEP”), a partnership established with private US investors to participate in the development of the LM#20 and three other wells through ownership of a 7% WI / 5.04% NRI in the first four wells at Shoats Creek Field. Northcote’s equity interest in SEP effectively contributes an additional 4.8 net barrels of production per day for the benefit of Northcote. On a combined basis, direct and equity interests in the LM#20 well, Northcote’s net share of the well is 73.4% WI and 55.3% NRI and hence net production to Northcote is 110.4 barrels of oil per day. After completion of the first four wells at Shoats Creek Field, Northcote retains the 7% WI and 5.04% NRI in future wells.

At current levels it is anticipated that the well will have a relatively flat production profile for an extended period of time. Together with the net 39 barrels of oil equivalent per day (‘BOEPD’) producing from the Company’s Oklahoma portfolio, Northcote’s net production is now 149 BOEPD (not including natural gas volumes at Shoats Creek which are not currently being sold). Northcote has plans to commence sales of natural gas at Shoats Creek in conjunction with bringing production from the next two wells to be drilled online and is in discussions with parties about the infrastructure and access to pipelines to sell natural gas.

Northcote is planning additional development activities for 2016 and will provide an update on future development activities and expected timing of such in due course. A new CPR on Shoats Creek has been initiated by the Company with results to be released in due course.

For 2016 Northcote intends to initiate quarterly production reports at the end of each quarter reporting net volumes sold during the period.

Northcote Managing Director Randall J Connally said "The results from the LM#20 validate the potential of the Shoats Creek Field where we have identified a number of high grade drilling locations. The strong well performance and modest cost to drill and complete a Frio well at the Shoats Creek Field allows for economic development at current oil prices and as such, planning and work continues with respect to the next phase of development. Details regarding the timing, intended next drilling location and financing of such will be forthcoming in due course."

[swizz] 06/3/2016 20:13

Some interesting thoughts being shared on MTR this evening.....GL S

#MTR @metaltigerplc

Not a holder but N.B. recent Golden Cross

Hearing rumour of large short in mkt also Hmmmm ??




Courtesy of Okenia on LSE

The sudden snap from 0.8p to 1.1p is intriguing. Especially when you think of the timing of the most recent placing (which as people should know, I participated in).

It was announced 28 Jan and shares were admitted 15/2. The snap upwards occurred quite soon afterwards.

Hold that thought for a second.

Now look elsewhere in the aim junior metals sector. Xmas was awful as was early Jan, with mid Jan marking a horribly depressive low. Since then - ESP for anything with some gold - there's been a recovery from those oversold lows. Many stocks (eg AAU) have now had a good month or so of trending higher.

MTR was a bit of a laggard in this respect and people were asking questions why mtr was stuck at 0.8p while the sector was rallying. There were accusations that this was because the alleged 'sticky' shareholders from the placing were not that - but were flipping.

Knowing the people involved I didn't buy that narrative and still don't. And now we've had the sudden snap upwards (including an intraday spike to 1.5p) I'm even more intrigued.

I think I have a possible explanation for this based on what happened at SAV when the MMs got caught out by a recent placing which they thought would lead to liquidity from flippers - without realising it was to a strategic PE investor who shareholders knew would be uber-sticky. They dropped the price to the placing price expecting volume, but got immediately hammered by a wall of pure buys because the SAV shareholder base is well informed and knew how to interpret the rns better than the MMs. The end result was that the initial lowering of the price by the mms led to a sea of buying and them running for cover. They had to quickly raise the price to get stock to cover their net short positions, and at the end of a rather dramatic day we ended up blue and at a level way above the placing price!!!! That illustrated to me that mms don't always get it right and can make assumptions that are wrong and lead them to having an imbalance on their books that then triggers sharp share price changes to allow them to settle positions.

Given that (intraday) experience at SAV, I'm starting to wonder if we're experiencing a somewhat similar but slower motion version at MTR (SAV is illiquid so the share price readjusts on very little volume, whereas there's more trading volume at mtr).

Does anyone with charting skills and who has been following the order book on L2 care to comment?

[swizz] 05/3/2016 22:34

s2, do you have any Idea if Paternoster hold warrants in Metal Tiger?, I seem to recall reading some time ago that as part of the Brady transition to MTR, that we held a number of warrants as part of the early funding at an excercise price of 0.5p, but I cannot seem to track the detail down,........GL S