Member Info for philpot1001

I personally bought more today at 219p equal to my annual dividend income, as I believe this low it's a bargain... I'll then just keep the cash when the divi actually comes In.

FK have you noticed its exactly 1 year since the Norpalm rumours were announced? Happy anniversary lol.......I too think they should just put a peg in the sand (and then bury it along with the whole idea).

http://www.bbc.co.uk/news/business-44065647 "The even better news for RBS is that it had already set aside $3.5bn to pay this and will only have to take an additional hit of $1.4bn - or just over �1bn. That's about three months' worth of profit, which means that RBS should make a full-year profit for only the second time in 10 years. The bank has enough shock-absorbing capital to start paying some of those profits out in dividends, which will make the bank easier to sell back to the private sector, which is helpful as the government owns over �20bn worth of shares. " "The bank has enough shock-absorbing capital to start paying some of those profits out in dividends, which will make the bank easier to sell back to the private sector, which is helpful as the government owns over �20bn worth of shares."

Is that directed at me Bermo? I'm not sure TBH, I'm guessing our crude is maybe quite concentrated? Just a guess...... I seem to.recall African crude is more similar to.brent where's Texas crude is light and used to dilute ? Forgive me if I'm wrong there.

haha FK, I hope im not coming across as some fan boy, don't get me wrong im as cheesed off as anyone else about the drop. Just trying to give a sense of balance ;o).....but I do agree with a lot of the comments placed here the past day or two.

Crude hit near 78.5 dollars earlier.....im guessing the Israeli / Iran punch up is at least partly driving it

Unfortunately we won't get any newsflow now until June with full year accounts and dividend RNS, I wouldn't say thats necessarily a flaw with management, it is what it is....... the obvious issue is 99% of the problem, getting the raw product. I guess it boils down to whether you believe the harvests will improve again long term or not. It would be nice to see directors topping up, but that isn't a problem reserved solely for DKL

I have to admit I'm with you bermondsey, I'm concerned about spunking cash on other stuff... lets get AJE generating profit, then develop it..... THEN start looking at other things IMO

RBS agreed to pay above fine to US to settle ... on BBC news

Thanks tooldforthat , that makes sense. Bermo the presentation is on the investor section of the website.... towards the back of it there is a statement that current rate is 3300 bpd. Can't recollect well enough to paraphrase it.

Excuse the typos im on my phone

Sorry Bermo not with you? The link was just something a found about typical oil and gas well flow rates from Google..... the flow rates I've quoted come from the MXO .ppt..

if in doubt - google :oD http://www.undervaluedequity.com/Oil-and-Gas-Flow-Rates-How-to-Determine-if-a-Well%27s-Daily-Production-Range-is-Fair.html our performance is rated as fair, when It was up near 8000 bpd it was rated good. So its not a disaster at 3300 bpd, but as they had it so high before, its in my nature to try and figure out if its possible to get it back up there without further wells. But maybe it isn't, and weve got what what weve got. Unless SO is hiding an ACE up his sleeve and AJE-5 is secretly blitzing it

It's unclear mate, from the flow charts we know the rate dropped to 2000 bpd at its lowest, it then picked back up to 3500 bpd - was that slight increase a consequence of the AJE5 improvement? If so the total flow at 3300 bpd has any improvement baked into it, and it is low IMO, even with an "improved AJE5" - certainly compared to a baseline of near 8000 bpd. Question then becomes, what's happened to slash the flow rates, and what (if anything) can be done about it? If the AJE 5 improvement is not built into that 3300 bpd it may be the flow rates are higher than 3300 bpd stated in the .ppt, and maybe AJE5 is gushing - IMO any revenues over 600K sterling would imply total flows greater than 3300 bpd. That's best case scenario.... but if that is the case, why the cash call. Where there historical RNS which delved into the nitty gritty of the flow issues? I'll have a trawl later, my guess is not knowing SO.

I take it the current working theory is the only way to get the rates back up is to drill more wells, as the intervention doesn't appear to have done a lot? Really need that horizontal well talked about in the presentation drilling ASAP while they are generating profit as the POO probably wont stay at this height forever.

That's exactly what I said!! If I tried to submit my company accounts in that form of have my ass kicked .... although mines only a small fry Ltd company, i thought it would be the same rules. I think we can be fairly sure all but about a million were lawyer costs etc

Yeah I think September interims should be very promising .... it's possible the full years due in June could show a surprise if they have somehow sneakily increased flow rates, or if admin costs are tiny... but im now resigned that that's a long shot given the cash call, which itself is reflective of the losses I'm predicting (looks like Jim's got the same numbers forecast too)

essentially same numbers as me Jim I think - I get 500 grand profit before admin costs, assuming 1 million admin that gives a net loss of 500 grand.

.... also I'm hoping that I'm wrong and the annual results show big revenues and even profit! In which case - BOING lol

Based on the losses I'm expecting in the annual figures they are likely to be comparable to last year's IMO (I'm guessing 500k sterling loss) our SP was circa 0.6p at last year's results, so it's probably consistent..... however you are correct that the following set of results (dec17-18) should see us in profit even with only 3300 bpd, and I would say should be sending us back up towards 1p (although how many times have we said that).... I would expect the next half year interims to start showing buds of that promise. ...so as usual here, it's jam tomorrow