Member Info for philpot1001

What would you do to increase the SP ? (And just being generic with more RNS doesn't cut the mustard, be specific).... For me the priority would have to be getting AJE6 online. That may mean negotiations with PEN et al, but if that's the case then RNS the fact (were pursuing advancing AJE6 but are in negotiations or something). It may be he's on this already (JV have stated they are attempting to reduce cost / barrel, so this could be their avenue) but as usual no specifics so were all guessing. What's other people's prime method for lifting this SP ?

Not sure, it's potentially an option though.... the BOD did indicate they were keen on potentially diversifying into other crops.

Is that XXX feeling the love, or XXX expletive ;-)

Give Norpalm the elbow, and get some cocoa plants on the go.... "Experts are warning that cocoa shortages in Ghana - which produces 20% of the world's supply - could lead to an increase in chocolate prices."

Not sure whether I hate SO more, or this bloody phone and it's typos

Lol photo.... I'll be emailing shortly specifically asking about dates planned for AJE6 and if none are set yet, what are likely ETAs in terms of a high year.... I.e. anything this year or do we have to wait until 2019 etc.... I'm also going to press on the lifting RNS as that is inexcusable and the very least we deserve

I did think about going to the AGM myself, and mouthing off, however my shares are pittance compared to others ..... could be the ideal forum for our group collaboration to voice itself?

Mark I just dug out stefans direct email... Stefan@mxoil.com I will be emailing today asking for clarifications on both AJE6 and why there are no formal RNS incl volumes when liftings take place.

I'm not sure we can compare our SP to PEN anymore as theirs has become skewed upwards by dussafu. The question is how to get ours doing likewise? Answer to me seems flow rates, dussafu reserves are a fraction of AJE yet the markets is salivating over their high flow rate estimates (whether they turn out to be accurate is a different matter but hey ho). The obvious near term answer to me is AJE6, it's pretty much paid for, so kick it off and let's get our OPEX down to mid 30s

If we were organised we would be dangerous.... that's what he is relying on I guess

Fairly generous

64k is daily generous based on both his and the SP performance ... anything over 100k is a frikkin outrage

I was also under the impression he is on 150k ish.... used to be 100k but gave himself a 50% pay rise a few years ago.

Shareholder revolt over at lloyds over CEO 11% pay rise.... we could have done with something like that with " I'll do it tomorrow* Stefan

Lol we can't catch a break Bermo

*EDIT "i'm hoping NOT to see it" stupid bloody phone.

GL DB, I'm still buying back in but mitigated slightly as it's funds I released a bit back, plus I only buy in discrete steps down. 6.5p is my next marker..... I'm hoping it to see it. I think it should only take a couple of glowing quarters to have this back around 13p .... it's just when we see those quarters I guess. Fk they are already burning profits with dividend, I really don't want to see them doing share buyback unless they are swimming in profit. It's better spent on things like guitry which should help stabilise the fruit yields in the future IMO

Are you thinking the AJE6 legal expenses will run I to the June figures Jim? I had personally hoped we had seen the last of them, but maybe it's wishful thinking on my part I guess you could well be right as it's only recently they all shook hands.... but I think me and you are well aligned in most of our calcs and expectations. It's going to be a longer ride than most had hoped, but I think worth it in the end.

PS just for clarirty i k ow the OPEX break even is 40 dollars / barrel, the 60 dollars B/E comes from admin expenses at MXO and I've assumed a million sterling per year which seems historically reasonable

Million dollar question mate... for me yes, but not without risk. It depends on getting flow rates up, which is looking like requiring new wells / getting AJE6 up and running. The investment requires money (although hopefully not much for AJE6) and in order to avoid cash calls that requires POO over 60 dollars at present.... which we have. Price of crude should be supported at least until Sept by drivers season consumption. If we can get one or two more wells producing soon I think we're golden