Member Info for JimPrice

I'm not putting any further cash into this until I see some change now. With results out of the way the market *should* start looking forward. Stefan needs to get that research note out which he promised with concrete figures, PR and and proper plan to tackle these expenses starting with some salary cuts I reckon. I too support to vote him out. his position is untenable.

2 x 1m buys. Shame our buys were much higher. Someone coming in on the cheap. NAV has gone up to >14m and current mcap at 6.6m

The problem we're having here is the lack of information regarding the large outgoings. We need a breakdown and explanation of these costs. We also need a justification for the rise in BoD remuneration despite the poor SP performance. It's irrational given the negative cash flow. Does anyone here intend to go to the AGM? This is probably the best place to present such questions.

Poor results! Surely the Chinese investors are going to be asking serious questions now. They are effectively serving the BoD's wages. Stefan has some audacity to up his salary like this on the back of declining EPS.

There is certainly eyes on this stock. Remember a few months back there were three trading days which saw 100m shares bought up at >0.65p. Whoever that was will probably be looking to average down somewhat especially since the story has only improved from then. That was Pre-CPR and yesterday's RNS and also POO above $70 now too

results due next week. I guess a cohort of investors will want to see the figures before committing. The outlook moving forward is positive and I'm sure we'll see some fresh money land as the summer progresses.

In short, at the current POO and GBP/USD exchange we are looking at a potential jump in revenue from £3.4m to £10.5m p/a and gross profit from £1.6m to £5.8m p/a.

Phil, having had comms with the company I am told that the CAPEX in place for AJE 6 will contribute a good deal to the new development and any further funds required are likely to be sourced via project finance. We need more flesh on the bones but this will come once the simulation study is complete.

I've updated the figures here based on today's RNS: https://twitter.com/JimPrice83/status/1008999924632047616

These are my estimated figures based upon the data we have been given. Following today's RNS these can be trebled minimally https://twitter.com/JimPrice83/status/994160665991532545

Major shareholder supporting with hard cash and 27% equity after years of share price decline. Could this be the year in which fortunes for shareholders turn? They will most certainly need to pull something out of the hat to get this SP at many multiples. There is no way they could get any meaningful fund raise away with the capitilsation and liquidity so depressed. The investment here is certainly not without risk but I'm banking on a liquidity event at some point in the next 6 months, the returns could be phenomenal from a �1m cap if we do see one. GLA

I should also add the �1.7m loan provided by Tinajero in November had an option to convert to equity but unlike typical loans of this nature it had no death spiral terms. The conversion price is fixed at 1.12p, a significant premium to the current SP. For him to convert and recoup this loan the SP will need to be much higher which I suspect will be the case later in the year. If I am correct the current liabilities are too high in my estimation to be met via revenues alone so either the repayment terms will need to be extended or the �1.7m will be converted to equity.

If it's any consolation the nominal share value is set at 1p which means there can be no equity raise sub 1p without first securing shareholder approval at an EGM. Tijanero is happily funding the company under non convertible terms so he must be confident that there is material upside from here for him to get his return.

Well hopefully his optimism will be reflected in an improved balanced sheet for starters. We need to see the SAAS revenues having a material impact on our cash flow followed by a reduction of the debt pile. They still need cash for WC which is evident from the RNS in March. Mr Tinajero has been and continues to be very supportive of the company; it would be good to know his end game since he has coughed up �4m+ in the past year coupled with a 27% share holding

I have been in touch with Jose who is very pleased with the progress behind the scenes. The commercial rollout for new customers remains on schedule and he continues to believe that 2018 will be "transformational". He is also confident that further deal news will follow should the negotiations they are currently in bear fruit.

at 3300 bopd with Opex $40, gross profit translates as $2.3m per annum so $3.75m is definitely too high. time to revise!

It is gross profit Phil. These are net proceeds. The agreement between the JV partners entails that Panoro will only repay outstanding cash calls through excess funds post OPEX. Having spoken with the company they are now kicking of free cash which is probably why Stefan is more open to engaging with the investor community now. I expect he will echo this in a podcast in the not so distant future. As for the oil lift it is based on 3300 bopd from Nov 2017 to March 2018. That's roughly 4 months of production (December was a planned shut in). MXO net proceeds are equivalent to c. $1.235 which scales up to $3.75m for the year, not bad at all. Oil price will only get better which means more and more cash, FPSO will flip up quicker and liftings should become more frequent too.

Make that almost $4m gross profit for 2018 and that is if the oil price flat lines here. Imagine a spike to $100?

From Panoro's Q1 report earlier today: "An Aje lifting was completed in early April 2018, which will provide net proceeds to Panoro in excess of USD 3 million; Panoro�s share of these proceeds will reduce Aje related payables (which includes operating costs) in the second quarter 2018." Panoro have a revenue interest of 12.19%. Based on this MXO have just banked a gross profit for c.$1.25m. This means our revenue from the April lift was in excess of $2m. Another two liftings this year at current oil price will have 2018 revenue sitting comfortably around the $6m mark of which almost $3m will be gross profit. The company has committed to no further CAPEX in 2018 so they are most certainly generating free cash now.

I was thinking Align too. They covered Mayan from sub 0.3p and that investment is working out nicely. Align hold MXO stock as they tweet about it occasionally. I hope the research note contains sufficient detail and proper figures with a clear plan laid out for the near term development of AJE. The research note should trigger further PR as alluded by Stefan in his email which in turn will reinvigorate the SP.