Member Info for philpot1001

Bermo I think he said something like 40-50 mUSD in his opinion

Sorry Kentan just seen your post, yeah I pretty much just posted the same thing, so agreed.

Unless SO agreed to exchange shares for the rights to the PEN purchase.... that would be different. But this is all speculative, TBH I think the Chinese are under water enough as it is without emptying their coffers for more AJE

I see your point about leverage in the area, amd indeed agree PEN would sell given the opportunity ...but I still don't think it will affect in anyway their share of MXO .... the only way they can don the IMO is to purchase MXO shares. Maybe im missing something, time will tell I guess

Whoever sold sub 0.5p got mugged

Hahahahahahahaa I mean 2p.... although I won't grumble if they want to pay 2 quid hahahahaha

They can have mine for 2 quid

Kentan I don't see how the Chinese buying PEN's stake in AJE helps them buy out MXO? All it means is they own more of the OML JV. Their stake in MXO wouldn't move at all..... if they wanted to wholly buy out MXO they would surely have to buy more MXO shares?

how high does oil have to go before this SP lifts ROFL.

Thanks Spitzer, sounds like you know your stuff. Be interesting to know how much we are in line for when they finally interpret the semismic data. I think in general OML113 looks promising. But yes disappointing flow rates compared to estimates (although even with 3500 bopd we are still making significant profits). Do you have an opinion on the cause, and whether it's feasible to rectify or impossible? Thanks once again !

It would surely be nice to get the AJE wells producing at a higher rate. Not sure that's possible though, depends if the limitation is a mechanical issue at the well, or an oil reservoir issue I guess...seems like the CPR indicates plenty of volume. could do with an o&g specialist on here to advise.

Also there is a little lack of clarity on That, as there is a horizontal well due in 2019, and potentially that could be used for either oil or gas (from my best understanding)

According to the dev plan I think first gas wells are planned 2020.... from memory....but that would be subject to change if exploratory drilling changed their opinion

Bermo - it wasn't just P2 and P3 that got upgraded, P1 was upgraded 7 fold. Id agree with a lot of your comments, just a couple of minor notes I would add. RE AJE5 production, they have in theory given us the flow rates in that .ppt on the website, however there is debate among PI's as to their current accuracy. I believe an RNS on every lift with volumes would instantly clarify this and also keep us up to date without having to scrape the barrel for data. Regarding further wells, again the .ppt does go into some detail on this, however I will be the first to hold my hand up and say its not totally clear i.e. is AJE6 the horizontal well due in 2019, or is that a different well etc. We could do with the dots joining up. However it may be that they don't actually know, as they haven't agreed between them what they are doing - maybe this is part of the problem with the SP? It would be nice to know why the gas totals weren't included in the MXO CPR, whereas there were numbers in the PEN CPR. Were these just estimates on PEN's part? or was that the actual gas CPR figure? If estimates, what date are we to expect the gas CPR?

Let's see what other posters feel about their bone of contention to get a good spread rather than just my personal beef ;-)

If you sre going to email, i would be specific I.e. i would like to see regular RNS on "subject X" rather than I would like to see more general RNS. Which is why I think if we all aligned on subject X we would see more results.

A number of us have been emailing already, with mixed results. I believe Jimprice has had the best results, probably as he is one of the bigger PI holders. Personally I got zero response.

I think if we were to get any real results we would have to be concise and aligned on what we sent, and that would mean agreeing between us what the major issues here are. For me a regular liftings RNS with volumes would go a LONG way to lifting the fog, but it is my own personal gripe and others may differ on their opinion .

Promised myself I wouldn't rant on here any more.... failed already haha.... reset promise to myself again.

I've said it before and I'll say it again, the performance of the SP is the CEO's responsibility.and the buck stops with them. If they don't care about the SP and purely concentrate on running a business, frankly they shouldn't be running a PLC and should have just kept to being Ltd. If you're using other people's money to fund your business - you DAMN WELL SHOULD care about the SP. In the very least keep the people who are funding you fully informed of what's going on, with fully detailed RNS not go AWOL for months on end. We still haven't had an RNS detailing liftings and volumes . This should be standard for each lifting, FFS it's not difficult! This guy really needs holding to account.