Member Info for Bermondsey

Thanks Jim, spitzer. Do you know if the guys monitoring marine traffic have noticed an uptick in the frequency of oil tankers? It could indicate higher flow rates.

Hi Jim what company? Just wondering how you get your hands on this info.

That's my understanding . So yeah.. 75P. Ouch. Don't forget stefan bought in at a penny. Plus I don't think any of the connected party can vote for the offer to be accepted. So it would be down to us pis to save the day. I find it unlikely. They've had plenty of time to show their hand at this price. And then the market makers would want to make a fortune on the rise. We are seriously banging a profit at with crude at 80.

Same photo. Highest price paid by the unrelated investors in the last12 months is less than a penny. They could easily reveal their hand and make a lowball offer for the rest of the shares.

Don't accuse Mark of being smart. Hahhahaha

Well done Mark. Regular updates would be most welcome line here. I'm going to give stefan the benefit of the doubt here and hope he follows through with this pr. When you think about it, there hasn't been much to say from the jv for the whole of 2017 because operations stalled almost as soon as we struck first oil and that lasted until January this year. Since January a presentation was published on the website, we've had the cpr, the slides mention a further oil strategy update and stefan has promised increased pr. This all has happened since the dispute was resolved in January. I don't think that's a coincidence. Hopefully Aje is now getting into stride and with increased oil price it's about time. We're essentially year 2 in production having lost 12 months.

Just seen your second post. I think perhaps we said the same thing. Market doesn't care for the oil down the ground. But it cares about the amount we pump. We are pumping enough to keep the lights on and pay the salaries with a few quid profit. it's why we're down here. In my mind multiples of profit is a good way to value mxo atm. We're not an exciting startup with fresh prospects. Th market knows what we have and wants us to get it out the ground faster. That is my take

Agreed Philpot. I'm at a bit of a loss with it. Lacking other information what else does a potential investors have to go on? Had another read of the presentation. Are we due another report in q2? Turonian oil rim development plan?

Panoro didn't really budge an inch on the same news as us the week the cpr was released.

We absolutely have a right to ask stefan questions, correct he could do more pr for the firm, but that will only take us so far. I think that fundamentally we are OK. As far as the market perceives us we are not that exciting, perhaps too many burnt by Mexico. Who knows. The market has spoken, and I think it's nothing to do with the Chinese or any other conspiracy.

Let alone next year (sorry, I didn't intend to break the post up). If we are valuing our firm on its profits, then we should only take 2.5/3 times annual profits as a guide to mcap. I'd take any increase over my average.

... But we need to extract it and sell it. We don't know what the price of oil is in the next month

Has anyone considered what an acceptable marketcap / shareprice is and in what timescale. Is it enough to achieve the nav in the 2016 year end accounts? I have great difficulty understanding how to value mxo. We may have x amount of oil down a hole

Agreed Carter. Even stefan can't be shifting oil at a loss in the current market

Philpot. There will probably be some in the June 18 accounts. Settlement announced 2 Jan 18. Strictly the accounts are prepared on an accruals basis, most of the work was done in 2017 so most of the cost should be accrued in 17 accounts. But in reality a chunky bill will have been received and booked in January, tarring the first 6 months of 18 with yet more one off costs.

Ignore that question. You told us. Long day.

Thanks for taking the time to post your info. Do you have any idea how much panoro are looking to achieve for their stake?

That would be a sneaky trick kentan. I hope not. I just had a look in the accounts and can't see how many unallotted shares are in issue to support further raises. He has to get shareholder approval if there aren't enough to issue... I haven't bothered to look it up but do we have enough income in the jv in the last 12 months to drill another well? You would have thought we would be constantly reinvesting to increase production

Morning all. Dipped my toes in here today. Hopefully psl can pull my energy heavy portfolio into the blue.

Aje 6 appears to be ready for drilling. They should get on with it