Member Info for Bermondsey

Are you saying I can buy cheaper than I can sell at today?.. Not sure I understand the significance of a closing spread other than it should be less off-putting to anyone thinking to invest. Not nice to lose 20% on acquisition. So you think there is anything to read into the closing spread? Genuine question . I don't look into technicals and don't know how to read, only put my money where the fundamentals make sense. Not sure what happened with chal though.

HP, you bought some placing shares?.. I'd like to know who the presentation was made to, I certainly didn't see any notice of it.

Thanks for the reply marineville. Well the activity on site hasn't even spurred our resident rampers into action today. You sure did get a bargain price compared to me. I've been debating a small topup to average down but I have no idea of how quickly we can get restarted if mediation is successful. Wheel parts are scattered across the globe and we just stumped up half a million of storage costs for the wheel legs. Why did we do that? According to press various storage sites are costing a quarter of a million pcm. That's a lot of dough. Then there is the issue with the welds needing attention, admittedly the problem doesn't appear to be widespread. Major issue is severe dilution to fund the project to completion. Not as though we have that spare million knocking around given back to us by the wheel Co a year or so ago.

Afternoon marineville. My understanding is that we haven't invested in empire. Have I got this wrong? That said, good to see activity. Have you spotted anything close to the wheel Base? I'm not expecting any construction pre mediation.

Had another read. We do have clear timeliness set out in the presentation and hopefully a year of decent rns reporting progress to follow. I do wonder if we won't get the cpr results immediately, the plan is to integrate results with the turonion oil plan, whatever that is. Investment decision to be made q4 18.

Would fall on deaf ears Philpot. You see the mess it created over at ast, albeit driven by entirely different motive. I'm as irritated as you are but we choose the investment I suppose. There have been some horror stories on aim this week driven by rampant ramping. Certainly not the issue here. I always come back to the same conclusion here. A decent asset but SO doesn't steer the jv ship, so I think we could be onto something. If only he stops wasting our money. I'm sat at home ill today, too much time to sit and think about mxo I think. Back to the Olympics .

So they appear to have sold a few tickets judging by the booking page. The tactic appears to be only to release the top two tiers (over 900 each). By delaying the release see of cheaper tickets they're preventing people who don't want the top packages from purchasing. Is that not madness. I'd focus on getting sales complete as soon as possible. I suspect they may well have to discount the more expensive tickets later on in which case there would be no case for buying the cheaper tickets at full price.

Philpot. I also picked up on potential additional oil reserves. March could be our month. Years in the waiting.

Legal cost could well be part of it Philpot. But that's 2.5 years of uncontrollable admin costs. I would have thought though any legal costs would be capitalised as part of our cost of investment and therefore not hit the P&l, happy to be corrected on that. As always with mxo, whenever you get a glimpse of good news it's easy to bring yourself down with a thud..... Damn we need rampers on board. Holders are no good at it. I mean, we're debt free and producing and about to release a corker of a cpr (said in hope not anticipation)

We spent 700k in the first half of 17. All very well for the jv to reduce opex but if we can't do it at a company level we won't take the benefit. I mean, what expenses does this company have apart from wages and maybe a small office space. It certainly isn't squandered on pr or rnss. I suspect were flying so business class to logos a couple of times a month.

looking back to the 2016 accounts we do appear to have written aje6 off back then. Also reminded myself of our horrendous admin costs when going through the accounts. About 1.2-2.3 million a year. Wtf, that wipes our net profit cleanly. Does anyone know what we spent this on. Capex doesn't hit the p&l... Just want this jv to get on with it. This last year has been wasted.

I would like to know the situation with aje6. From my understanding this was to be drilled during q1 17 alongside aje5 rework. We've had no update on this well except panoros press release on 2 Jan saying they wouldn't pay for Aje6 work to date until it becomes operational. I know the work was outside the jv agreement and caused the legal proceedings. But we do appear to have spent cash on it. So why isn't it producing... Also, whilst a bit disappointed in flow rates, are there any oilers on the board who can tell me why the rates are low are we restricteding flow? Can we crank up production? Appreciate any help. Aside from above I'm still optimistic here. Buying off the back of the rns suggests cpr is going to be good. SO just took another half million off some poor investor ffs. Credit where due. How does he do it.

Thanks cracker

Yes, congratulations lex. I'm so glad you came back to feed your ego. Did you do any more than pass on a tw tweet?

So the 40m must be a trade. True our share lost value at that point, and you can safely assume that was to price in the new shares. but the shares haven't been admitted. So it can't be related. If it is a trade that's huge.

I don't understand why the new shares that aren't yet alloted until 6 March would cause a trade. The dilution would be reflected in a lower sp for original holders would it not?

No idea on the mechanics. I take it back if you're correct. Shares are not I'm circulation til 6 March. There is certainly some appetite below 0.7

I find it mind blowing that a 40m trade hasn't increased our sp. It only takes a few small value trades to move the needle on a normal day

Disappointing rns, but we're still heading in the right direction. In fact, true to historical performance stefan through just enough info out to make the pain palatable, but no meat on the bones.... What I do find interesting is the discounted raise when he has been pretty good at finding premium investors. Did the same person come in for another 40million at0. 7 this afternoon? Hopes are pinned on the cpr. Stefan manages to keep raising substantial sums of money from investors willing to hold. What do they know? He doesn't need us P Is, that's obvious.

If there is any truth to the placement rumour then what could the cash be needed for? Maybe we needed cash for Grenada or some other pipe dream. We did recently approve a new business model. If it's old 113 related it can only be funding g expansion surely. We don't need operating cash.. 5 boggles me