Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thats for the final phase and is the total spend to get there panei. In addition AJE 5 is from what my reliable source tells me producing 'way more' than had previously been calculated it would (post wellhead repair). Also read the Panoro presentations you will see Dussafu needs significant funds to get it producing- what makes you say dussafu is covered?
Tooldforthat that link was to show Panoro benefitted to tune of $7million when Lekoil pulled out of buying Panoro's share of AJE. Which happens to have occurred in 2013 as you pointed out
Final message from me for now- forgot to add the link at the start: http://news.cision.com/panoro-energy-asa/r/panoro-energy-announces-termination-of-the-divestment-of-the-aje-field-in-nigeria,c9500299
'Funny' thing is Panoro got $7million in total when Lekoil pulled out! More than half out MCAP!! Stefan bring on the CPR- show us what AJE 5 has thrown into the crown jewels since the previous issues with it were resolved- from what im aware (but for 1 reason or another SO wont tell the market) there is alot more oil there and that AJE 5 is performing better than previously disclosed to the market. Let the CPR arrive (was planned for end of march 18- what a surprise another missed deadline by an AIM company!) and it will be bye bye to this ridiculously low price. Read the RNS from the 6th Feb and when SO says "I very much look forward to providing an update to the market once this report has been completed" that he knows something positive already.
Just enquired further and got told they are actually in talks rather than just expressions of interest - some maybe aware that Panoro were previously (several years ago) going to sell 6.5% participating interest in the OML113 (AJE) for a consideration of US$30 million but the transaction didnt proceed then. That was however before oil production had commenced at AJE so I cant see a similar price this time round. Hopefully its not a distressed sale as it seems Panoro even from their presentations online are looking to concentrate in Dassufu. Will allow us to put a more realistic/achievable value here than the $16million currently marked for AJE in the books.
Not sure what to make of it but been told that Panoro are looking to sell their interest in AJE as need funds for Dussafu. Watch this space...
When you get the answer to that please let me know too!
Apologies philpot iv not managed to log on until now but see Jim has answered it well. The MMs are free to do as they please with AIM shares and iv seen some bed and ISAs go through above mid price and others below. No idea how they pick at what price they will do the bed and ISA. However one thing for sure is they always make money out of it despite having no risk by either losing/gaining shares. No wonder most of these MMs are privately owned and dont need to disclose accounts- they make an arm and a leg!
Philpott both those large trades were bed and ISAs.
No idea why they have dropped the sp as cant do dummy buys but they are willing to take my full 5.5million holding from me so they want/need shares.
Yep was a bed and ISA for sure. The drop today sums up the problem with AIM where MMs are free to move the sp to wherever they want and with it not being driven by supply v demand. (SETs SEAQ etc) You can guess what the MMs have as number one priority- £€$¥! Anyone recall the 30% intra day drop on GKP about 5 years ago where no one could buy but it took a mass of sell limit orders and lo and behold the next day a humungous resource was revealed and the sp rocketed. Why that wasnt investigated is beyond me. Seems to be one rule for those in position of authority in the markets and another rule for every1 else.
MMs willing to take 5.5million of me in 1 go- if theyre happy to take that amount in the 1 trade without going to a NT then we all know they need/want shares. Seen the other day what light buying pressure did to the sp- let news come out and watch this rocket. Iv been holding back from calling SO but think the time for that is soon approaching.
Another MM classic move- drop the sp when no sells to try to get some sells from those who just look at the days red/blue colour for the sp. Think theres a background buy in. Anyone with spare funds willing to do a dummy buy for 1 million and see what they get quoted?
Another piddly sell of 900 odd shares- most broker fees will be more than the value of those shares (£5.09) - unless it is MMs transferring between themselves im at a loss as to what these small trades are... anyone got any suggestions?
Looks like its small PIs selling or the MMs selling between themselves (unlikely but possible) to create the impression of selling pressure. Its bananas selling at this level - new tax year means new ISA money looking for a house. I know where my allowance will be going if the sp stays put when i have the funds available. Base level sp on all worst case scenario valuations is minimum 1.5p and that is super 'conservative'. I guess until news arrives this will plod along.
And all those people will need to be supplied with energy! Lookinggood but the question of when this will come good is the real question and with fridays flurry will hopefully be soon. Not the soon that the usual AIM CEO's talk about!
Interesting read from last weeks FT re Lagos. We sit at Lagos's doorstep- soon to be the worlds third largest urban conurbation. (PS im not nigerian!) https://www.ft.com/content/ff0595e4-26de-11e8-b27e-cc62a39d57a0
We all know that AJE is primarily a gas condensate field and not a major oil field- the fact that it contains oil that can be extracted at a profit should be seen as a bonus but we need to keep our eyes on the prize - the huge gas reserves that couldnt be closer to a major pipeline (WA) or a major economic centre (Lagos- said to account for over 35% of nigerias economic activity if my memory serves me well). Once up and running AJE should be producing between 50-100k boe/d our share being 2.5k-5k a day! Lets use the 2.5k figure for now- assume profits at a measly $20 (we are earning well more than that right now) and this gives a yearly profit of $17m from AJE. Thats the worse case scenario from all the info I have come across in my time here. Lets reduce it even further to $10m for any other scenario you can think of and include in this reduction costs keeping the lights on. Usual PE for a producer (which we are now and have been since AJE went online) is 15-20. Lets use 10 (why? To give another worst case scenario!). Using above figuresi could say i see a future mcap of $100 but lets reduce it by half to $50m (£35million) (hopefully you get the jist that by now even this worse case scenario is unlikely). Compare it to where we are now £11m! The sp at current share numbers equates to over 2p - the 1 thing no one can predict is the future dilution but all my above 'worst case scenario reductions' offset upto 100% dilution (unlikely to ever get approved) My figures of a min 2p before selling out havent changed and likely on CPR being released will be revised ipwards. Stefan bring on the CPR - watch the floodgates open when he does! Think afew leaks sprung open in the ship on friday ;-) ATB folks- with this and BMN think the million quid i wanted in the bank might come by sooner than I thought!
My buy reported as a sell- couldnt resist final final top up. Over exposed here but confudent this will give a nice profit.
2ways the rise can be seen re late trades- 1. If theres no large trades after close the MMs are damn short and even this light buying pressure has resulted in a healthy rise. 2. There will be late reported buys and the MMs are trying to hide them right now. Either way its a win-win for us mere PIs for now!