Member Info for Bermondsey

Philpot. I would say they are more guesses than estimates. Just piecing together what fragments of info we have. Hopeful that panoro will reveal other pieces of the jigsaw in their q3 numbers... Interestingly on the Nomad. I did talk to ours a week or so ago and he said that he didn't believe so was withholding info, but when I gave a specific example of flow rates on aje4/5 he did imply that is market sensitive data . Why have they still not released? And info on costs / margins. It's fundamental to any investor. It bothers me a bit.

They also put our net assets at c14m in June 17. So yes, we trade at 2/3 of net asset value

Cost of development in accounts is c13m, that is the auditors value. I'm sure they would impair it if they thought it was worth less. I'm not sure if they will always hold at historical cost, I think this is because it's essentially held for sale (not an expert in this area of accounts) during the development phase. I assume they'll move to another fixed asset account at some point and value according to market..... I was looking at npv calcs a while back. No idea what method they would apply here, but I would say 3 years net revenue is going to get you close. We just have no idea what that is.

Gazza, I think that was used for Aje 5 workout as opposed to operating costs. I suppose that would mean the income in the early part of the year was not. In which case the 300k from aje4&5 really was dire for the first half of the year. Mostly this can be explained by the workouts I hope.

Philpot. As far as revenue goes we had first oil in August 16 and a 1.6m payment to show for it (received net of cost), in 2016 accounts.I think oil was around 52. We then had workover to Aje 5 (and 4?), early this year and flow rates must have dropped significantly, we had about 300k net income for the first half of this year. Oil was pretty low again and so were flow rates. We also had capex to cover on the workover, so was some of our income put to that hence 300k in first half of 17 or was it all down to bad performance? From my perspective there was only one lift and payment in 2016. If costs are stable and oil rising and aje4and5 if they are both at full flow, could we be receiving 2m + each quarter? I don't this that is unreasonable but based on educated guesses... On the cash call, I don't see where he is getting the money to operate, look at the cash balance in the half year report. Very low. So a payment has come in. Will they continue if we are planning to reinvest fir field development? Also, what about our new line of business, how will we fund that? And the myn investment, are we I'm fir a quick buck? Lots of questions but fundamentally oml 113 is a decent asset and we look to be getting back in track to read the rewards.

It's a hefty sum of money. Don't forget this was paid cash, so post 40% tax and 12% NIC. The earnings he committed were substantial.

It's nuts Philpot. So is truly crap. He should be milking it for all its worth.

Hopefully we'll get them from panoro. They like to keep shareholders informed. I think they release results around 16th November, it's in their financial calendar.

Code 39. Continue to ignore shareholders

Autocorrect ffs

Comes on SO. Get some figures out

I wonder how our cash position is looking. We had 24k in the bank in June 17 with half a million of current liabilities due within 6m. We must have received a payment from oml/Aje since then or we wouldn't have been able to pay these. Going forward it's good.news to a degree that oil income will fund further development but are we committing all our income for development? We would need.some.money for our own operating expenses and any other investments so finds.

Feel the same but my optimism has returned. If we didn't have the dispute I belive we would be above 2P by now. If we can drill a couple more Wells in the next 6 months and then bring gas online coupled with a decent cpr, it could be.the making of mxo. The asset is decent. Oil on the up. We should hear about gas soon. We're debt free. So doesn't control the jv.

As you asked so nicely Great news folks http://news.cision.com/panoro-energy-asa/r/oml-113-update---agreement-with-aje-jv-partners,c2381999

Still no flow rates. He's a slippery eel is so

Panoro are up 26%

Good work Jim. Great news. Although how quickly will things progress when we have agreed all funding to come from oil sales. Hope those taps are turned on full. Maybe we'll get some info!

Haha. Thanks spikey.... Does anyone remember what the situation with oml111 and lekoil. Are we not in some negotiation to take some of their oil revenue.

Just had a chat with our Nomad. He has a good line of comms with SO, and doesn't believe anything is being withheld from us. Nevertheless, he said things sometimes do slip through the net and he'll get in contact. I gave him 4 specific areas I would like him to question. 1) gas cpr, it was due early this year yet no news. 2) flow rates on aje4/5. Can't get my head around the possibility of him not having this information when we've been pumping for months. 3) myn investment and the diversification of investing in general. Can he let the market know his game. 4)legal proceeding and our Nigerian investment in general. We would appreciate knowing how things are progressing on gas front and also a colourful explanation of the issues we are facing with panoro et Al.... I don't we will hear anything but worth a try.

Gas cpr. I bet he's sitting on that. Due q2 17 was it not