FYI, our revenue interest is 5% not 6.7%. Still lots of value on that basis as per my calculations last week. The Brent price is really inspiring confidence in the sector especially with OPEC and Russia agreeing yesterday to extend their agreement to curb supply into 2019.
They'll certainly have a story to tell as those warrants at 6.5p will need to be exercised within one year. These warrants are the incentives for JP's cornerstone investors. I reckon the Asian play could be very large indeed hence justifying the mcap. Looking forward to seeing the story unfold over the coming months
Having listened to Parson's latest investor presentation last month I am pretty sure the new acquisition is non-european. I feel Asia is where they are looking.
Great news, significant gas discovery at Selva which will merge under the Coro assets, 63% interest in that. Nice, now let's get his relisting in order
£80m mcap, think we need to keep feet on the ground at the moment! I think the 'other investments' could be the key. Currently we are a one trick pony and the market may want to see a little diversification to reduce exposure/risk. They must have some plans in place already, why would you call an EGM in September to amend our investment strategy without a project in mind? It's been 4 months since so could be something significant. Zhang Hao also increasing to an 18% holding simply on AJE doesn't sound quite right. It's watch and wait for now...
The fact that no one on twitter is talking MXO is a very positive sign too. No pump and dumpers or 'flippers' here. It's a sleeping stock and will wake up sooner rather than later imo. The JV dispute resolution IS material, Brent going up IS material, cornerstone investment with no death spiral terms here IS material, yet the market doesn't want to know, couldn't make it up! Anyhow I'm still buying so not complaining. Good luck folks, it's been a good BB here over the past 2 years, when the trolls arrive we will be in he money
Shot sentiment mate but we all know how quickly that can switch in the wild world of AIM. Mayan at one point was written off by the market and became very illiquid, a few positive comms from company turned things on its head. That is a non revenue producer even now after 3 bagging. MXO is backed by a quality asset with revenue production in a recovering sector, Mr Olivier just needs to get his act together and when he does I have no doubt 1.5p will be back in short order. The best time to buy is when the market doesn't want to know, I picked up millions of MYN shares sub 0.3p over a two month period and am doing the same here.
I have a friend with an eye on MXO. When he buys he usually goes large. Not sure if he will be taking stock for sure but if he does you'll know. Keep eyes peeled
Our revenue interest is 5% which is what my calculations are based on.
We are currently producing in the range of 7000-9000 bopd. Conservative estimates of our revenue / profit is: 7000 * 0.05 = 350 bopd (MXO interest) AJE sells at a premium to Brent, say $72. Revenue: 350 * $72 = $25200 Revenue per annum: $25200 * 365 = $9,198,000 Conservative breakeven of $45 which leaves a profit of $27 per barrel = $3,449,250 profit per annum ---------------------------------------------------------------------------------------------------------------------------------------- Upper estimates of our revenue / profit is: 9000 * 0.05 = 450 bopd (MXO interest) AJE sells at a premium to Brent, say $72. Revenue: 450 * $72 = $32400 Revenue per annum: $32400 * 365 = $11,826,000 Breakeven of $34 which leaves a profit of $38 per barrel = $6,241,500 profit per annum ---------------------------------------------------------------------------------------------------------------------------------------- Current Mcap: �13m. Grossly undervalued.
"Potential for OGO discovery structure on contiguous block OPL 310, which has P50 gross recoverable resources estimated at 774mmboe, to extend into OML 113 - based on historic seismic data." "The results of the interpretation of new 3-D seismic data to determine the possible extension of the OGO discovery over the OML 113 acreage which has the potential to have a material impact on OML 113's reserve numbers"
Assessed economics of Aje Field � Low breakeven oil price of US$31 at 0% discount rate or US$45 using 10% discount rate � Interest valued at US$55.1 million NPV (0) or US$31.5 million NPV (10) based on a recently completed CPR assuming US$70 oil price
Picked up another 800k shares this morning which are not showing as yet. This is a screaming buy at these levels. - Brent over $70 - JV dispute resolved - Financially stable and well supported by high net worth investors - SP spent many many months consolidating and technically primed for a real breakout - CEO in with �100k at c. 1p - News flow due on multiple fronts including AJE CPR, gas development project and update on investment policy - SP not far off all time lows and free float relatively tight given Chinese investment
This is a fairly objective board and I've been posting here since 2015. The biggest 'derampers' here are us holders ourselves! I feel things will begin to change and the relative peace will be disturbed over the coming months as the story develops, news flow improves and SP appreciates. Trolls arriving always correlates with SP for some strange reason.
I agree, it will be OPEX. The CAPEX required for the gas project will be comparatively much greater and they'll be looking at securing some level of project finance for that along with a mix of equity. Looking forward to reading the CPR and the economics of the project
Good point. This is the relevant note from their 16th November press release: "During an interim period of approximately one year, all spending at Aje shall be limited to proceeds from sale of crude"
No chance, need 50m shares for 3%. I'll let the Chinese compete amongst themselves for position on the shareholder leaderboard.
I took another �6k today. Happily averaging up now and waiting for the market to come to me. Average currently at 0.61. Should have 10m+ shares if I get my remaining buys over the coming weeks. Provided nothing terrible goes wrong at AJE the SP will only go one way. Finance is sorted here as the Chinese are 100% backers. No brainer for me folks.
That'll soon change fella. I believe there is value here hence why I am adding. Was doing the same sub 0.5p when market was bored to bits. Remember Mr Hao just took his holding up to 18% around 0.8p. This story has fundamentally changed now and the price is still trading close to lows. We were in the 1-1.4p range pre JV dispute and Brent was trending much lower. Enjoy the top up opportunities whilst they last.