Member Info for philpot1001

That explains it then, and probably the SP also... I'm.a bit slow off the mark. I guess the revenues for the full year will show us the actual flow rate and if it's stuck in the mud at 3300 bpd.

Going over the last year's numbers and something doesn't make sense to me.... the revenues seem excessively high if they are post operational costs (I.e. the 40 dollars a Barrel costs has been applied)... revenues of 1.5 million sterling AFTER 40 dollars / barrel costs implies flow rates of near 10,000 bpd which surely can't be right? Even stranger is the first six months of the next year only show revenues of 350 grand - ish, much more inline with my calculations of 3,300 bpd. I need to have a look at the presentation flow charts again, was there a huge drop off in flow between 2015 - 2016? Maybe there was I can't recall.

Not that it will move our ruddy SP upwards..... please SO start shouting about the oil liftings, and flow rates .... PRETTY PLEASE

I still can't fathom how SO gave himself a near 50% pay rise a couple of years back in a loss making company, that's smashed the back door in on it's own SP!? I genuinely think exec pay rises should be put to vote to all share holders, it's become ridiculous..... not just here either

However they REALLY should have specified those expenses if that was the case. It's unbelievably poor account reporting IMO

Agreed Bermo, I've stated this in the past too.... however it's looking likely that was a one off, best guess poxy legal fees for the parasite lawyers on the panoro debacle

Interestingly my calculations come to a net loss of 500,000 sterling for Dec 16-17 after admin expenses of 1 million sterling...............strikingly close to the cash call at the start of the year. Could just be a coincidence though.

Our revenues for Dec 16-17 should be a fairly meaty ~3 million USD, however our relatively high cost / barrel and stinky admin costs were beasting us in that period. I think given the massive exec salary if they can get the admin expenses to 1 million sterling that's as good as it's gunner get until SO takes a pay cut ;-)...... we're going to have to wait a couple of years to see serious profits here IMO, and I think we need to be v careful about how much is spent investing in expansion. BUT I think as long as it's done carefully, when the production is increased, and cost / barrel drops this should be a cash cow long term. Will need patience though .... although mine wears thin sometimes

According to the half yearly numbers admin expenses were 656,000 pounds sterling.....I guess maybe they saved a little more in the second half, but I'm expecting admin expenses to come in around 1 million sterling in the Dec 16 - 17 numbers.

Or the production figures and revenue up (lowering the cost per barrel)

PPS..... sorry folks, my 500k profit for this year was not including admin expenses, so you're right Jim they wont be anywhere near net profit this time around..... and that explains the cash call I guess. We def need those admin expenses down.

PS my profit calcs for Dec 17 - Dec 18 are close to bang on yours Jim, 2.15 mill bucks based on the current average crude price (I.e assumed crude doesn't collapse or spike) and assuming no more shut ins

At todays prices they should be printing money

I priced in 2 months shut in (60 days lost) and 50 bucks a barrel avg, 3300 bpd when producing and that came to underlying profit of 500,000 quid.... having said that like you say there are uncertainties you've mentioned I didn't price in..... but I think it should be close

Amen to that Jim. Regarding future wells, according to the plan in the .ppt the next well is due 2019.

http://www.bbc.co.uk/news/business-44003521 "Consumption (of gas) is forecast to rise to 177 trillion cubic feet (tcf) or 5,012 billion cubic metres by 2040, up from 124tcf in 2015, says the US Energy Information Administration."

Yep brent has rocketed for some reason, not sure why? Iran? Dunno... all good though. As stated numbers I'm on board , but it's a bit like herding cats.... if it's just a forum we want then maybe Jim's Twitter is the best place? (I've never used Twitter so can't comment). Ideally we would have some mechanism for totalling shares for each individual in the group.

Agreed numbers, we are all in the dark.... if they do retain profits for expansion though, im good with that..... however i would really like them to be explicit about it, rather than we earned x million in revenues , but spent x million, but not going to tell you what on.

Regarding profits, the ponoro settlement stated profits would be used for daily running, there wasn't any mention of retaining profits for expansion.. also one of the members on here has recently stated hes been told the expansion is potentially being funded by loans secured against the asset (probably a good way assuming they can get low rates). That's not to say you aren't right numbers, they may well use the AJE profits for expansion, but as far as I'm aware that's not been stated anywhere?

I have to agree about the trading, i said on the day there was a weird skew to the price- trades .