Member Info for philpot1001

Had a look at Tullows financial reports for their Ten field in Ghana. They are producing roughly 80,000 BOPD which equates to costs of 11 dollars per barrel. I've used this to give a scaling for costs vs prod, and an indicator of where costs could be if the JV drill more wells. IF it's a linear scaling, they would have to seriously ramp oil volumes to reduce cost significantly..... i calculate you would need an increase of 25000 BOPD to save almost 10 dollars off costs per barrel. Maybe that's why they are keen on gas instead?

still reasonable buying activity today, but no real shift in ask / bid. Wonder if we have cleared out the placing yet. hmmm

i "think" Bermondsey quoted 28th Feb for Panoro results - although that's from my memory which is questionable, I couldn't find that date on the panoro website. Just had a look at their Q3 figures again, and they explicitly state AJE producing 3305 BOPD (top of page 4) - pretty much inline with SO's presentation......my guess is Q4's will probably stabilise at that volume. But we can hope in goes up.

For me it's just sit tight, try not to watch the SP too much, wait for CPR (wouldn't be surprised if we have to wait until April) and potentially top up on any significant dips. But we all have different approaches and maybe mine isn't correct ;-)

"NOW" we...

Not sure how it works active, but I can't think of anything else that would offset this volume of buying

I can only think this strange SP behaviour is offsetting the placing, we still haven't had enough buys to fully offset the 1000000 shares placed. It's not far off now though by my calcs

I would imagine if this is whats occurred an RNS will be forthcoming. The fact there is a delay, makes me wonder if the deal is fully off the table, or if there is further wrangling to come. Who knows. TBH im a little less concerned about this know we had a good Q4, and im mostly thinking about the Q1s to come.

well its almost solid buying again today so far (besides a couple of dreggy sells).

There are also comparisons made to the Troll North Sea oil field..... that is a colossal field! I appreciate the comparisons are made for oil quality, depth and offshore rather than volume ----- however keep an eye on predicted volumes in the CPR, we can then scale based on Troll volumes.

Global oil consumption is likely to peak in the late 2030s according to a forecast published by BP. Could be a case for holding these and other oil shares for another 5-10 years - proviso of increasing production yields of course, and hopefully reducing OPEX.

SP just doesn't want to reflect the truck loads of buys coming in for now, shame. But the sheer volume of buying does give me a warm feeling.

Just looking at the .ppt again, with 6 executive / non executive directors and management, and knowing SO's salary, they could well be forking out 600,000 on their salary alone.... with minions I guess could be over a million in salary depending on how many plebs there are. Just a guess, and im probably being a bit generous with salary figures in that calc.

Haha sorry tooold I'm certainly not trying to pick on you, just getting clarification ;-)

Has anyone been to this before? I'm assuming they open the floor to questions? (The other AIM I'm with do, and some of my fellow investors have had good results getting answers that way with that company).

To be fair gazza it moved the ask from 0.65p up to 0.699p so did move it up.... Just don't know why it went down to 0.65p in the first place!!! Could be large hidden sell looming

Lol enjoy Bermo! I'm looking forward to the Ski Cross highlights later (no spoilers please ;-)

Something that's not showing seems to have slipped the ask down to 0.65p which is annoying.

Also tooold I think you made a comment about drilling for gas Q1 2019, but all I saw was a statement about drilling horizontal oil wells. Could this not just be another oil well, or is it def for gas extraction? Excuse my ignorance, I couldn't pin this down using Google.

Any comments I make on overheads are just conjecture Bermo.... prob same for most of us as were hidden from the in the workings. I think we have a right to know though, so we need some form of method for pressing for answers.