What in the name of jumping Jehovah is going on over at Nostra Terra Oil & Gas? Private Investors are beginning to lose patience with the paucity of meaningful communication on the assets.
Where I might add are the Bale Creek results? Both drills encountered oil, oil has been swabbed. Loyal Investors weren’t happy this week with Nostra after the company squeezed out yet another placement on top of the 6th September 2012 placement.
The dilution to the company share capital this month totalled 297 million shares or 14%. Last year (1st/July/2011) Nostra also raised £2,000,000 before expenses by way of a placing of 333,333,335 new ordinary shares at 0.6 pence. Of which muggins here (BMD) took part in. The total dilution since July 2011 in the share capital is a thumping 635,222,225 shares which represents approx 34% while the share-price has fallen over 70% in value since the highs of 2011. On top of this investors are still awaiting the results from the drills at Bale Creek which began in early February 2012; over 7 months ago! (By my calculations they could have drilled into the earths’ core by now.) There’s talk of Bale Creek 3! Which I find absurd bearing in mind that Bale 1 & 2 results are still unknown.
I’ll tell you exactly what I asked the company today when I interviewed them for our Members. 1/Why are there no Oil In Place figures on any of the Nostra assets? 2/Why hasn’t the BOPD figure increased over the last 12 months? 3/What in the name of God is going on at Bale Creek? (It’s been 7 months) 4/ Why are the company continuing to waste money on the same old tired presentations? 5/Have the placings ended for the foreseeable future? 6/ When, if ever, are we going to put some flesh on the BOPD? As well as more general questions, the interview lasted Two Hours.
There’s an old saying which goes “There’s no point knocking if there’s nobody at home” It’s beginning to feel like there’s no one in the Nostra house able to grasp the FUNDAMENTAL importance of good quality information even if that information reveals a failure. Good Investor Relations are critical. Private Investors are sick to their back-teeth of being kept in the dark while Financial Institutions, Investor Relations company’s, Nomads, Brokerages, Forum events organisers & the Board of Directors cream in the cash taken from Private Investors. Every single FSA regulated company involved here are making money out of Nostra Terra Oil & Gas. Your money! While every single Private Investor is losing money. That is the stone cold fact of the matter.
I spoke to the company at length today. A robust defence was given. If what was said to me today was in an RNS then we’d have an sp at 2/3p!
I like Matt Lofgran I think he’s a decent chap and he is certainly active trying to push the company forward but in all honesty Nostra Terra are getting nowhere fast. Nostra are still only producing 35 BOPD. Regardless of what any oil company tell you, it is all about Production. Oh it’s great to achieve payback in less than 12 months on producing assets but the sad fact of the matter is that the company are still not at the threshold where profit is made.
The great hope now is for Bale Creek 3 and the Chisholm Trail to produce the goods. They sound like C rate western movies let’s hope they don’t turn out to be C rate assets!
It’s as you were. There are new assets coming on stream, drills aplenty, assets being looked at, acreage & leases being negotiated, there’s cash in the coffers, but what there isn’t is a fundamental understanding that it is Private Investors who have bankrolled this company & it is Private Investors who will bear the brunt of failure. Not the Hyenas from the City of London who continue lining their pockets with Nostra Terra (Private Investor) funds!
It’s make or break time. We need to get to a minimum of 125 bopd over the next 3/6 months otherwise it’s more of the same. Dilution, Dilution, Dilution with a kick in the ribs share consolidation for good measure.
It’s time for us here to throw down the Gauntlet. We have our passports at the ready and may if deemed worth-while catch the big metal bird & migrate to Oklahoma for a fact finding mission.
Viva!
Dan
