Member Info for hpsauce83

Agreed MXO likes a leak and the AGM would be good timing if not then, then we are only a few weeks away from the interims and results of the model

BPC oil companies has gone from 1p to 7p in the last few months and they have no oil!!!

Agreed anything under 0.5p is a bargain as that was the last placing price. And the debt was converted at 0.8p which to me is where we should be!

Interim accounts and results of the model are due soon! Oil avg over $70 this year will add over 30% to the margin vs last year! Oversold ...... mxo also likes leaky news! Would be nice to a reforecast from align research once the interim and model results are out! GLA we need it!

Yes but with this years oil price avg about $70 it should be 30% better off in the right direction

That could be mxo in September based on current oil prices!

Busy trying to buy shares so hard this morning mom filling an order!

Official launch and expected revenues Lovely!

Research paper

SO said he was preparing a research note to support the company and its strategy and here we have it so hopefully he is actually now working behind the scenes to get the SP back to where it should be

Oil wants to break $80 again and this year it has been averaging $70 that's 30% higher than last year $55 average

not a coincidence as one of them is mine!

Sounds like the next well will be aje-6 and it could produce 5000bopd A lot of capex spent on the well already so won’t take much to get it running

Mx Oil plc, an oil and gas investing company quoted on AIM, is pleased to provide a further update with regard to OML 113, the offshore licence in Nigeria, in which it has an investment. The Aje Field within the OML 113 licence area commenced production in 2016 and, on 1 May 2018, the Company announced the results from the updated Competent Persons Report ("CPR") based on the production data that had been generated to date. Further work has now been carried out using the production data from both Aje-4 and Aje-5 to estimate the potential for an integrated oil and gas development of the Aje Field. As a result of the internal estimates, the licence partners, including MX Oil, are now working on a simulation study to assess the potential for new oil wells in both the Turonian and Cenomanian. The Aje-4 well completed on the Cenomanian currently produces 1,500 - 1,700 bopd. The production performance extrapolation of Aje-4 suggests that the connected oil volume to that well is significantly greater than currently mapped, suggesting the possibility of drilling a further well to the east of Aje-4, most likely in the previously planned Aje-6 location. The Aje-5 sidetrack well currently produces 1,600 - 1,700 bopd from a limited six foot completion interval on the Turonian oil rim. The well is performing better than anticipated, underlining the potential for this reservoir. Optimal development of the oil rim requires the drilling of long horizontal wells and producing in a measured way to keep the water and gas in place. The Directors estimate that these wells could produce up to 5,000 bopd per well and this is expected to be confirmed by the simulation modelling. The Company expects the simulation study to take approximately three months and will allow the Turonian Oil Rim Development Plan to be finalised. Once the simulation modelling work has been completed, a further update will be provided to the market.

Sorry your right we only get 165 bopd that still $4.8m Of revenue and makes our Mcap look ridiculously low

Based on those numbers our 5% should get 307.6 barrels of oil a day net that’s 307.6 x 365 x $80 = $8.98m a year Makes our market cap laughable

OML 113 Aje field: YFP (Operator), Panoro Energy (12.1913% entitlement to revenue stream, 16.255% paying interest and 6.502% participating interest) Production system optimisation has been carried out at the Aje FPSO during the quarter and this has resulted in production increasing to a steady level of around 400 barrels of oil per day net to Panoro. The field produced an average of 384 barrels of oil per day net to Panoro during the quarter, and this compares to 285 barrels of oil per day net in Q4 2017, which was affected by some shut-ins. Production from the Aje field continued from the Aje-4 and Aje-5 wells, with the Aje-4 well producing from the Cenomanian oil reservoir and the Aje-5 well producing from the oil rim of the Turonian reservoir. A lifting from the field was completed in April 2018. The Turonian gas FDP submitted in 2017 continues to be reviewed by the Nigerian Regulators and in parallel, the process for the renewal of the OML 113 lease in June 2018 has continued. Panoro is updating its independent reserves report for Aje with AGR TRACS International, and preliminary results have been published in our 2017 Annual Statement of Reserves. The update indicates that gross remaining 2P and 2C resources of 136 million barrels of oil equivalent combined could be produced from the Aje field, with gross 3P and 3C resources of 233 million barrels of oil equivalent.

The $100 a Barrel Oil Wager Comes Back to the Options Market https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2018-05-23/the-100-a-barrel-oil-wager-comes-back-to-the-options-market

better to have a steady rise and churn out the weak! 0.75 tomorrow!

this is just the correction as the shares were oversold when news comes this will rocket!