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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Max Petrol | MXP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.16 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.16 | 0.16 |
| Top Posts |
|---|
Posted at 06/4/2015 21:32 by whoppy Oil Surges on Signs of Growing DemandBy Timothy Puko Oil prices surged to their biggest gain in nearly two months, buoyed by signs of rising demand in the U.S. and Asia. Data provider Genscape Inc. reported that supplies in Cushing, Okla.--a key storage hub and the delivery point for the benchmark U.S. futures contract--fell by nearly 300,000 barrels between March 31 and April 3, according to a broker. Cushing supplies are at a record, and this is first time those stocks have seen a drawdown in Genscape data since early December, the broker said. The data added to momentum for bulls who have been betting rising demand and other factors would reverse a monthslong decline in oil prices. Markets had already been primed for a rally from news over the long weekend that saw Saudi Arabia raise its official crude oil selling price for Asian buyers and the dollar edging lower in value, both boosting hopes of increasing international demand for oil. Light, sweet crude for May delivery settled up $3.00, or 6.1%, to $52.14 a barrel on the New York Mercantile Exchange. It was the U.S. benchmark's biggest day of gains since Feb. 3 and its highest settlement since Feb. 17. Brent, the global benchmark, settled up $3.17, or 5.8%, to $58.12 a barrel on ICE Futures Europe. It was Brent's biggest one-day percentage gain since Feb. 3 and its highest settlement since March 26. Many have been betting that oil storage at Cushing could near capacity in part because it hasn't had a week of falling levels in official government data since late November. The U.S. Energy Information Administration will release its official storage data on Wednesday. Demand has been strong enough to buoy prices for gasoline and other oil-based fuels. The drawdown from storage in Cushing is probably a sign that more refiners are taking advantage of a buildup in oil stockpiles, buying at low prices and producing those fuels, said Tariq Zahir, managing member of Tyche Capital Advisors. "The refineries have such great margins right now they have to do whatever they can to make unleaded gasoline," he said. "I see (oil prices) going lower. But for today, you can't fight this rally." Markets had been closed for the Good Friday holiday, and opened higher on reaction to news from the weekend. Saudi Arabia raised its Asian prices for May on the back of strong refining margins in the region and a strong Dubai crude price benchmark, Singapore-based traders said. While state-run Saudi Aramco Oil Co. raised price differentials for all its crude grades sold to Asia, it lowered most prices for the U.S., reflecting weaker Nymex crude prices and an oversupply in the U.S. market. The dollar also influenced commodity markets, inching lower after Friday's weaker-than-expected U.S. jobs data as investors bet the Federal Reserve is likely to delay raising interest rates until later in the year. The retreat is undoing a dollar rally that has weighed on commodities prices in recent weeks. Oil is one of many commodities traded in dollars, making it cheaper for holders of other currencies when the dollar depreciates. The dollar's turn, combined with a decreased number of drilling rigs, has many speculative traders targeting a comeback for oil, said Jim Ritterbusch, president of energy-advisory firm Ritterbusch & Associates. The U.S. oil-rig count fell for the 17th consecutive week, declining by 11 rigs to 802, according to Baker Hughes data. Bulls are thinking that the dollar's depreciation could boost international oil demand and falling production could erase today's oversupply, Mr. Ritterbusch said. That makes oil an enticing way for some investors to diversify their investments for a shifting economy, he added. "Oil is still going to be valued as an asset class," Mr. Ritterbusch said. Finally, gains are coming as a rebuke against the snap judgments of last week's progress toward an Iranian nuclear deal, analysts said. Several of them have said that any deal isn't likely to send Iranian oil flooding into markets for months at best, allaying fears that a deal could quickly send more oil into an oversupplied market. Morgan Stanley, Barclays, and Tudor, Pickering, Holt & Co. have joined Credit Suisse and FBR Capital Markets in saying that late 2015 or 2016 are more likely target dates for Iranian oil exports. About 200,000-300,000 barrels a day could slip into the markets in the near term, but a one-million-barrel increase is at least a year away, Barclays analyst Michael Cohen said. Nymex reformulated gasoline blendstock for May, the benchmark gasoline contract, gained 4.6% to $1.8425 a gallon. Diesel futures rose 4.9% to $1.7643 a gallon. |
Posted at 09/3/2015 10:56 by jotoha2 No placing until the last round of 5p investors have had their money back , including the ruskie bank ! |
Posted at 02/3/2015 10:41 by whoppy Sberbank has 100's of millions of shares so like any sensible investor they will not put good money in to follow bad but if there is another investor willing to put the money in subject to a restructure of the loan then Sberbank may see a return on their shares. They know Max is stuffed and so is Sberbank. The assets hardly cover the loan and Sberbank took shares as part of Max's debt.I would think AGR are negotiating hard. |
Posted at 09/2/2015 21:31 by cricket Whoppy,is this an act to keep the poor lost advfn bar flies of the night entertained through the wee hours?Or are you really frigging chromosome impaired and exhibiting rampant Wolf-Hirschhorn syndrome? I even know investors in maple energy that would be ashamed of crazy comments like that of yours above! MXP is no more! it has ceased to be! MXP expired and gone to meet 'it's maker! |
Posted at 09/2/2015 07:38 by soul limbo ouch !!Edgein 4 Feb'15 - 14:30 - 31781 of 31788 0 0 Libra, Well when you look at what they're getting 1/2 the production and 1/2 the reserves for their £37m investment its quite good value. That cash injection also opens up the possibility of FFD but also the possibility of finally completing NUR-1 (potential into the hundreds of mmboe). Imo the 1.64p investment is still a good deal on their part. Sure the share price has fallen with the oil price (although not recovered with the recent oil price rally). MXP quite similarly to FRR and JKX are just over sold with solid assets and production. I cannot see either side backing out of the current deal, we as investors just have a remarkable opportunity at the current price. £12m cap is just insanity for 4000bopd and 10mmboe, it'll rebound like JKX its only a matter of time imo. Just imagine if they say they're fully funded and ready to progress NUR-1 to TD! ;) Bank renegotiated (covenants etc) just need the Kazakh's to agree to the massive local investor and we're off to the races imo. Regards, Ed. |
Posted at 04/2/2015 14:30 by edgein Libra,Well when you look at what they're getting 1/2 the production and 1/2 the reserves for their £37m investment its quite good value. That cash injection also opens up the possibility of FFD but also the possibility of finally completing NUR-1 (potential into the hundreds of mmboe). Imo the 1.64p investment is still a good deal on their part. Sure the share price has fallen with the oil price (although not recovered with the recent oil price rally). MXP quite similarly to FRR and JKX are just over sold with solid assets and production. I cannot see either side backing out of the current deal, we as investors just have a remarkable opportunity at the current price. £12m cap is just insanity for 4000bopd and 10mmboe, it'll rebound like JKX its only a matter of time imo. Just imagine if they say they're fully funded and ready to progress NUR-1 to TD! ;) Bank renegotiated (covenants etc) just need the Kazakh's to agree to the massive local investor and we're off to the races imo. Regards, Ed. |
Posted at 13/11/2014 10:36 by edgein HD,Yeah agreed that MXP has a high level of debt which they intend to pay back $6.something million per Q. the cost cutting they were to impliment would also cost some too. But the underlying assets and production and certainly healthily cash flow +ve at present. Of course they need to be to meet overheads and the repayments, but certainly look capable in their current form let alone getting production up to 5000bopd. Most of their assets are already at FFD as 3/4 of the $100m turnover was from export oil. I can see why the Kazak investor wants in here on the cheap though, once the debt is cleared the quality of the assets should provide strong free cash for years to come. Certainly the £37m/$60m cash injection will be transformational for operational activity and debt repayment. Even have £10m to spare to buy back shares too it seems. Imo the AGR investment will be the start of the turnaround here, once complete makes these look crazy cheap at today's price. For example if the share price stays the same the cap would be £46m with twice the shares in issue, but the cash would have increased by £37m and the debt would be easily managable. I agree too that the local investor will be a bonus when dealing with the local authorities. MXP would be 51% a Kazakh owned company. Regards, Ed. |
Posted at 12/11/2014 08:47 by edgein Dosser,It should more than be sustained for those with the patience to hold. By next year the company expects to be on 5000bopd. Around 80% of that production is exported with very very healthy netbacks. Check the companies latest results for the price and costs per bbl and the significant cash that MXP generates. The $60m invested by the Kazakh investor will put MXP in a very very healthy position to get a farmout for the completion of NUR-1. Cap is just around £25m odd for 10mmbbls approx and 4000bopd (current, to increase in 2015 as mentioned). So cheap as chips. This large investor is gonna make a big difference even though MXP had a turnover of around $100m last year. Even with the 20% drop in the $103/bbl average they received they've just announced recently that another field qualifies for export. At around $80/bbl MXP is still a cash cow. Regards, Ed. |
Posted at 27/10/2014 16:26 by richgit Time will tell,yet there is much logic that the Manipulated Market will putan average floor of $85 pbl. "Unhappy Producer Companies One indication oil will have to rise soon is that we have a good many unhappy oil producer companies in the U.S. who need a high oil price to cover the high cost of fracking. The only reason for the recent boom in oil production from “tight oil” deposits like the Bakken shale fields of North Dakota and Montana has been the high price of oil. A falling oil price would spell disaster. “At $90 a barrel and below, many hydraulic-fracturing projects start to become uneconomic, according to a recent report by Goldman Sachs Group Inc,” reports the Wall Street Journal. “While fracking costs run the gamut, producers often break even around $80 to $85.” “There could be an immense amount of pain,” energy economist Phil Verleger warned. “As prices fall, you will see companies slow down dramatically.” How much further can oil fall before wells are forced to start going offline? “A further drop of $4 or $5 a barrel will force companies to begin trimming their capital budgets,” answers Paul Sankey, energy analyst with Wolfe Research LLC. That was October 9th, when oil closed at $85.77 per barrel. By late last week, oil had dropped below $80 before rebounding to $82.75. Is it a coincidence that oil stopped where it did? At that magic break-even level around $80? Not at all. The stop can be explained by common knowledge among oil traders that oil below $80 is unsustainable and would result in the closure of numerous wells, which would in turn reduce supply and drive the price back up. So investors naturally jumped in at $80 and below, knowing the price simply cannot stay below that for long." |
Posted at 14/10/2014 12:54 by edgein "Donpatrol22 Sep'14 - 13:36 - 31663 of 31692 0 0 Why is drilling Nur1 so important, surly its going to cost another $25million to finish. Would the shallow drills on their own be a sustainable business? It seems to me that it would be another case of boom or bust to go ahead with Nur1" Well they've a solid business at the moment with the production and huge annual turnover with at least another field to go to FFD and export. That's fine its a solid business, but they have admitted themselves they've limited post-salt targets to drill and develop now. So refinancing from the new investor potentially brings in $63m at 1.64p from a local investor. Obviously long term holders not impressed by that, but recent buyers or accumluators would be quite happy with that (I know I am). Its the pre-salt where the billions of bbls like in Kazak. They've NUR-1 to 5000m before it encountered the pressure related well failure. 2000m above target depth. If you want a Tengiz that is where you need to be looking. Not 10-20mmbbls its more likely 400mmbbls+. Yeah its nice to have 4000bopd, 10mmbbls etc and a decent company, reasonable upside on future production and cash flow. But wouldn't it be even better to farm out 50% of these blocks for the deep exploration prospects only and say spend 50% of that $25m (with $63m cash from the new investor) to find out in fact is there a huge monster or more than one below these post-salt fields. Worth taking the exploration risk. That way you drill one of more of these deep prospects, keep the cash flow from the production and still have some of that $63m remaining. One reasonable large discovery would make the current production look miniscule. Since very little is priced in at the current price I'm more than happy with the assets and the risk, at least that is already backed up by production and reserves. But if you want dramatic growth potential it has to come from the pre-salt. Regards, Ed. |
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