Member Info for philpot1001

We should really get a group of us together to go to the AGM and hold him to account for all this, or we will never get answers. Forget emailing it's pointless

Totally agree Bermo

I think it was muted at the time about legal costs regarding admin ... but that was pure conjecture as it just wasn't clear

Had a quick look at the .ppt, not sure i agree the shutdowns affect the net BOPD numbers. It's seems to me according to that graph the monthly averages away from shutdown are near 3000 BOPD. let's see what comes from the Panoro figs, as they seemed to indicate a higher flow last time. Still, I think there's some good news in that .ppt, looks like oil reserves are higher than previously thought, and there is mention about lower OPEX "when the flow rates are increased" - at least indicating there's potential to ramp up.

Just large spread here gazza, couple of minor sells gone through but at low prices. Needs a bit more buying volume to finally offset that 500,000k placing.

That's better news tooold!!! I couldn't figure out how the volumes were so low! Shame SO couldn't be specific on that point! Careless at best, wilful at worst.

Hey Palmie thanks for the info, so you're saying DKL have terminated the offer for Norpalm then? Sorry for being simple, just trying to get the black and white

With that volume of buying I'm surprised it's not up to 0.8p!

Truck loads of buys coming in now

It did though didnt it? .... SP went down to 0.55p off the back of zero sell trading, its my guess that was the dilution right there.... but again im guessing and could well be wrong.

Don't take my word for it Bermo, it's conjecture on my part... but it would explain things. Yeah large volumes going through, I think investors might be glad to see OPEX figures at last, and to see we are at least making profit now..... although ambitious CAPEX could scupper that registering on the year end books I guess. I'm a little disappointed the prod volumes are half what I was expecting, but relieved we know where we are now.

BIG buy, not if buy... stupid phone

Isn't that if buy offset from pricing in of the 500k dilution?

apologies for not being concise - im inferring the costs of 40 dollars / barrel are included in the "now" reference.....but maybe im wrong.

not sure HP, you may be right but reading the extract "Field production has now stabilised at around 3,300 bopd (165 bopd net to MX Oil) and, on the basis of this level of production, combined with a focus on reducing operational expenditure, the Company has calculated that lifting costs are currently around US$40 per bbl. " the statement of NOW stabilised, to me reads as of "today"....but maybe im reading too much into the statement or misunderstanding it. Nonetheless, even taking the numbers at face value, my fag packet calcs are... with 65 dol a barrel, gross revenue is 365*165*65 = 3,914,625....OPEX is 365*165*40=2,409,000 ....Gross Profit is remainder, 1,505,625......so its good news were clocking profit, even if they sit on their jacksie and do nowt. We've got a base camp, its just how we move on from here. Cue CPR.....

I guess the immediate question for me after the CPR IS how can we get the flow rates up, is it even possible? If so what's the expenditure involved.... then with one eye on the gas, would it be worth it or just leave it and crack on with the gas. Time will tell I guess.

Well the market seems to like it! Back up to 0.70p already

I personally make the gross profits 1.5m bucks per year, but that assumes pumping 365 days a year and crude price of 65 bucks. The placing wasnt for opex but CAPEX (CPR in this case, the way I read it). Now they are making a profit I don't see why they would need any placings to keep the lights on? That said volumes are lower than we all estimated, disappointing. At least we've finally been given the figures we've been barking for over the past year.

Lol maybe I'll buy a fivers worth of Norpalm to find out ;-D

Any ideas what the update was JK? I'm guessing not if it was hidden, shame