This will be debt secured against the company's assets with repayment terms structured against cash flow generated by the project. Essentially it will be a non-dilutive to shareholders the specifics of which I don't know as yet. Once the CPR is out, plans for the FDP will follow and with that clarity around the financing mechanisms. With regards to the OPEX I refer to the break even costs post development. Imagine if 2 additional wells in the turonian rim push the OPEX breakeven into the $20s? The company will turn into a cash cow which is significant given our small mcap as it stands.
Had comms with Stefan yesterday. CPR expected this month as per RNS, once released they will be in a position to discuss the field development plan. In terms of the CAPEX requirement he stated that the company intend to utilise project finance at asset level rather than equity. They now have significant data available having monitored the flows over the past 18 months. Stefan believes that AJE is a "world class project" and I suspect this will reflect in the CPR. I think the OPEX could be significantly slashed with new information from the Turonian rim. The company presentation has highlighted this. Should be a good few months ahead
Had comms with Stefan yesterday. CPR expected this month as per RNS, once released they will be in a position to discuss the field development plan. In terms of the CAPEX requirement he stated that the company intend to utilise project finance at asset level rather than equity. They now have significant data available having monitored the flows over the past 18 months. Stefan believes that AJE is a "world class project" and I suspect this will reflect in the CPR. I think the OPEX could be significantly slashed with new information from the Turonian rim. The company presentation has highlighted this. Should be a good few months ahead
We will be hearing much more post CPR. They have an oil & gas development plan to reveal and the fact Stefan has shared good production rates data before any of the other partners have is an indication he is ready to open up. I must say I haven't been able to get my head around the recent 0.5p raise but the buying since has been round figure block trades in the main. Over 100m buys have gone through in a week and I don't believe this is your average retail punter at it. Jenwell took the previous placing and Zhang Hao bought them out, I think the same has happened with this one, HNWIs buying the flipped stock. March will reveal all and hopefully have us past the penny, just hope this doesn't turn out to be another Tecoloutla.
Those buying now will be value buyers. It's about the potential growth story. Traders leaving the building is a positive sign in my view and the BB returning to normality is good. I am using this opportunity to build a stake and believe there is value to be had from here. GLA
$34 per barrel @ 11000 barrels per day if I am correct. It is now $40 at 3300 barrels per day.
Last year fourth quarter report was released by panoro on 22nd Feb so they are due to update any day now. The presentation put out by MXO was fairly comprehensive with respect to the production rates, I hope Panoro apply further flesh to the bones.
I wouldn't say they are fed up mate. Zhang Hao topped up with another 200m shares just two months ago. He clearly knows something we don't and imo it's more than AJE. They are investors and not traders and will be here post AJE CPR
Chinese never paid 1.75, the bulk of their stock was bought in the 1p placing. The highest they paid was possibly 1.5p if they were takers in last Jan's placng. We never saw a TR1 then however
Placing shares don't hit the market until the 6th and there are no signs of forward selling here. Plenty of buys and large ones too, bizarre price action.
Estimated calculations for 2017 production based on the latest data provided by the company: https://twitter.com/JimPrice83/status/966247189373751296
One thing we do know is that the Chinese remain supportive given Zhang Hao's recent 200m top up. There's no need to for TW to publish his 2 line piece, perhaps he wants to shake a few week ones out to buy in on the cheap. Things are starting to look better after all with JV dispute resolved, Brent price up, CPR due, ...if we get a cheaper buy in I'll be happy to top up and if not I'll be happy to hold.
Agreed it's a risk free ride for SOU holders. Better them watch and wait and see how this plays out. I reckon the warrant holders will want to derisk into large volumes post relist. Makes complete sense if you have 50% warrants cover. Personally not happy with the level of dilution to existing holders however the board is good and they will ensure value is returned in the long run. I've been locked in so don't have the big targets I once had. Confident I'll get my capital back and a bit more
He replied a couple of days ago. There were a few emails that were not responded to so I flagged this up. He sounds happy to take questions and said he will respond asap. Between myself and the Mrs we have bought over 13m shares here so not a small holding by any means
I have tried to engage him this week with a set of questions and he has replied saying he will get back to me ASAP. I'm backing him and MXO and expect some serious engagement.
they fell apart. No longer on the same page. TW recently wrote something against BMD.
Zak the knife who wrote that article is not the same as Zak Mir. The latter is associated with Steffy the organiser of yesterday's event. BMD has no association with Winnifrith, he is an assocaite of Chris Oil. I think both BMD and Chris Oil have taken a big chunk in the recent placing,
1.25m sell yesterday and 1.23m today both below the printed bid at the time. Thin liquidity hence the movement down. Will bounce back hard on next news. We know how quick this moves, just Stefan needs to get his finger out!
I believe a CPR is being worked. A friend of mine who closely follows Panoro is under the impression that news on the CPR is imminent.
Our paying interest is 6.67% but revenue interest is 5% FYI, Panoro have a paying interest of 16.7% which is quite high which is why they probably defaulted on the payments in the first instance