Madagascar Oil Share Discussion Threads

[lex artis] 19/2/2016 08:55

Shorters can close everything now without the share rising,

As a matter of facts, when it gets delisted at 0.1p something they can use capita to settle everything

[control1] 19/2/2016 08:54

comedy, the BOD need to update re which potential partner(s) is nearing the end of the DD process.

I think that the major shareholders are the ones to attack as they do not quite hold enough shares to reach the auto delist percentage

This is IMO, the sole reason for the issue of the threat, to scare PI's into selling so that they can hoover up enough shares to take them to the magic 75% figure.

Time to hit them where it hurts. They have until Monday to reconsider, meantime, no one give them a single share...

[lex artis] 19/2/2016 08:54

Comedy

how did you arrive at this conclusion?

Is any of the above an incorrect statement from these people?

did you not buy at 1.75p at -60% when spread was another 20%-30%.

now aren't down by near -70%? as stated by Gunslinger that's what would happen?

[lex artis] 19/2/2016 08:47

bullet ant 18 Feb'16 - 16:03 - 2280 of 2323 1 0

Comedian
I remember the days you trading in chunks of £100K on QPP and Yell. Now it's in chunks of hundreds squids.

It's time to give up mate




comedy 19 Feb'16 - 08:33 - 2319 of 2324 0 0

took another 50k

[john henry] 19/2/2016 08:38

Comedy you will not be able to hold the BOD accountable. They couldnt get alternative short term funding and the current lenders have pulled the plug unless the company basically delist.

IMHO they are worth a punt at these levels and holding for 2-3 years.

[comedy] 19/2/2016 08:34

control1 i think emails to bod and the major shareholders step 1 and then step 2 post 2317 would be a suitable plan???

[comedy] 19/2/2016 08:33

took another 50k

[comedy] 19/2/2016 08:29

control1 the fact is share price showed true action when people started to cotton on ep was probably issued...the co. then issued the rns to put everything in to doubt...then again as share price strengthened and stabilsed they put out the ep result but with basically saying we will be delisting/folding...but then also put out how many people are interested in the assets...

teh fact is they havent had open and ethical discussion with us as the shareholders but want to blow their trumpet how they have operated with madagascan authorities???

they are making sure they dont get done for coperate malfeasance...so amking sure thye put out all the good news but coat it with the bitter pill quality of delist or no further funds coming just as we are at revenue stage???lol u couldnt make it up from this bunch of charlies and they wont have a leg to stand on if someone started legal proceedings against the bod individually and collective holding them accountable...watch how quickly reasonable solutions would appear!!!!

[control1] 19/2/2016 08:27

Yes, indeed they will Bungee Trader - ever been on the end of a Twitter storm trending worldwide. This is any company's worst nightmare..

[control1] 19/2/2016 08:23

That is ridiculous Esmeralda, a financing deal was struck but the price of oil as it is now means that negotiations were going to be slower than normal. The partners would be stupid not to acknowledge that.

Also, bear in mind that the common consensus is 2-4 months for due diligence. Note, that commenced at the beginning of January so there are undoubtedly a couple of companies who must be at least nearing the end of their DD so why pull the plug on the next tranche now.

It is not even a case of good money after bad and I suspect that this is the reason. Re the oil in storage, they can sell at local prices so even at $10 a barrel (which is the norm), that is still $1.5m+ instant cash to continue operations.

The biggest single contribution from any of the partners is approx. £2.5m so it is not like we are talking £100m+ to continue.

This is theft and if the partners continue with this action, they will really not like the BAD PRESS that they will receive.

[goodbloke1] 19/2/2016 08:23

This has had it in my opinion.Glad I got out at 3.75p when I did .Smelt a rat when it took so long to get funding and constant selling day by day

[squiresquire] 19/2/2016 08:20

Esmeralda, You have to read more than you have, to understand better the true position.,

[esmerelda] 19/2/2016 08:13

Oh really squire. Companies that run on debt financing work because they pay what they owe when it falls due. If they can't pay then they effectively become the "property" of the lender. We have seen that this year with CAZA and I'm sure one or two others will go that way shortly. As others have said MOIL couldn't even sell the oil it was producing, perhaps they were having to ask too much for it because of high production costs vs falling global oil price?

[squiresquire] 19/2/2016 08:13

jh

~thats the trouble nothing illegal yet we know its being traded out of our hands by current shareholders?

[john henry] 19/2/2016 08:12

MOIL is obviously going to delist, it has no choice. Its whether you are prepared to have your money tied up here for a few years and being unable to trade.

Nothing illegal is being done, the company simply have no short term working capital.

The BOD have to take the wrap here.

[squiresquire] 19/2/2016 07:52

there is nothing wrong with the company, all or the vast majority of companies use debt to operate, this is simple theft.

[comedy] 19/2/2016 07:15

Ps why do they want to provide more funding if co.is in such dire straits with no way out???

[comedy] 19/2/2016 07:04

On top off that they use the word ethics..open and close dialogue...how will the Madagascar authorities look on a co. Who is happy to defraud it's long suffering shareholders? ??after all if they are happy to stitch us up then why would they behave ethically with the Madagascar? ?? Either we all enjoy the fruits or nobody does????plus board now full of shorters so wonder how many employed to keep share price low so co. Can be stolen from us at a cheap share price ..

[comedy] 19/2/2016 06:59

Guys if they can't get any deals locally why do the main shareholders want to delist from aim.look at this logically if the oil is not wanted ie we have no asset then nobody would want to invest...the clue is in the number of co. Doing due diligence. The fact is co. Will be worth 100s of millions if not billions over the next 3 to 5 years. I agree with control I would start emailing the bod and the 4 major holders to make it clear that they will be getting mail regularly from now to doomsday...plus raise it in press...they agreed funds and now shy of actual revenue they want to steal the co. By stopping funding they had previously agreed????

[ohisay] 19/2/2016 06:37

Isn't the main issue that they can't get a local sales agreement with Symbion.
If they can't make any progress there shareholders are sunk.
Is there a reason anyone knows of?