Share Name Share Symbol Market Type Share ISIN Share Description
Mercom Oil LSE:MMO London Ordinary Share GB00B979BX21 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 4.50p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -0.5 -4.0 - 0.78

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20/7/201607:09ALNCFAlliance News Flash Headline
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DateSubject
28/9/2016
09:20
Mercom Oil Daily Update: Mercom Oil is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker MMO. The last closing price for Mercom Oil was 4.50p.
Mercom Oil has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 17,226,773 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Mercom Oil is £775,204.79.
24/12/2015
14:03
hedgehog 100: Santa Claus has come early with MMO's interim results today. Cash burn has been reduced to just £70K. per half year, and cash at the end of September was £539K. ... forty five per cent higher than MMO's market cap. (£370K. at 2.125p). 24/12/2015 12:00 UKREG Mercom Oil Sands Plc Half Yearly Report "Interim results Chairman's Statement I am pleased to present my Chairman's statement for Mercom Oil Sands plc ("the Company") for the six month period ended 30 September 2015. Despite the challenging environment in the resources sector, the Directors continue to believe there are opportunities to create value for shareholders. The Board is working to identify and evaluate potential opportunities, and will make further investments when it is satisfied that all its demanding criteria are met. Dr Patrick Cross Chairman 24 December 2015 For further information, contact: Mercom Oil Sands plc John Zorbas 001 416 504 3978 Northland Capital Partners Limited Nominated Adviser and Broker Edward Hutton / Matthew Johnson +44 (0) 20 7382 1100 Beaufort Securities Limited Joint Broker Jon Levinson +44 (0) 20 7382 8300 ... Decrease in cash and cash equivalents (70,409) (789,652) Cash and cash equivalents at the beginning of the period 609,450 1,417,468 -------------------------------------------------------- ----------------------------- ----------------------------- Cash and cash equivalents at the end of the period 539,041 627,816 ... " http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Half-Yearly-Report/69813368
19/12/2015
20:15
hedgehog 100: MMO's micro cap. of just £0.37M. means that IF it has a RTO (reverse takeover), then a bigger uplift is more likely than otherwise. E.g. if the RTO vehicle has a £2M. share of the enlarged equity, a shell already valued in the market at £2M. will have no uplift based on the RTO value. Whereas one currently priced at a fifth of that should rise five-fold. In MMO's case its NAV is multiples of the current share price, and it's likely that an RTO value would reflect that. From the thread "CEB Resources with Charts and News (CEB)": 5baggersrus 11 May'15 - 11:01 - 17 of 1138 0 0 "Phil ... look at MMO for another decent play they are trading 50% of cash ... 25% of NAV ... just needs some news to get them moving !!!!" http://uk.advfn.com/cmn/fbb/thread.php3?id=32721796&from=1
19/12/2015
16:27
hedgehog 100: 5bags, Why not debate maturely, instead of just coming out with that clichéd troll mantra like a parrot? MMO's investment met the AIM rules, and that is fact: "As a result of these investments, the Company was deemed to have implemented its investing policy for the purposes of Rule 15 of the AIM Rules for Companies." MMO has also just closed on the top leaders list for two days running, directly ahead of its interim results. That is a good sign, and suggests that some people disagree with you, and are prepared to put their money where their mouse is. P.S. Yes, there's been a £200K. asset impairment, but that's in line of the sector, so what makes you think it's a reflection of its quality? 30/09/2015 17:24 UK Regulatory (RNS & others) Mercom Oil Sands Plc Final Results "Our net asset value decreased to GBP0.12 per share from GBP0.17 per share in the previous year. Net assets value at 31 March 2015 was GBP1,428,492 compared to GBP1,818,865 as at 31 March 2014. The decrease was chiefly the result of the cash used in operations and the GBP200,000 impairment recorded on the investment in Lion Natural Resources Limited." http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Final-Results/68717594
17/12/2015
09:41
hedgehog 100: MMO's interim results (required by the end of December) were released on Thursday 18th. December last year: 18/12/2014 17:41 UK Regulatory (RNS & others) Mercom Oil Sands Plc Half Yearly Report http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Half-Yearly-Report/64853092 They could be announced tomorrow (Friday), or even after hours today. I'm pretty sure that they will at least provide reassurance, and perhaps even more ...
17/12/2015
09:16
hedgehog 100: Really? When it's cash-rich, with no net debt?! And funny that the NOMAD hasn't resigned! 17/12/2015 07:00 UKREG Mercom Oil Sands Plc Change of Company Secretary and Registered Office "The Company announces that Kyle Appleby has been appointed as Company Secretary and that the Company's registered office has changed to 90 Fetter Lane, London, EC4A 1EQ, United Kingdom. For further information, contact: Mercom Oil Sands plc John Zorbas 001 416 504 3978 Northland Capital Partners Limited Nominated Adviser and Broker Edward Hutton / Matthew Johnson +44 (0) 20 7382 1100 Beaufort Securities Limited Joint Broker Jon Levinson +44 (0) 20 7382 8300" http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Change-of-Company-Secretary-a/69732057
14/12/2015
16:41
hedgehog 100: Hmmm ... another 'buy high, sell low' merchant? This is what you were saying seven months ago ... at more than double the current share price: 5baggersrus 6 May'15 - 15:49 - 2 of 10 1 0 "See directors taking fees in shares .... preserving the cash .... no discount either which is novel for AIM ... !!! Fees are quite high for Zorbas ... although he took sole charge and the previous incumbent turned a similar wage so on balance ok. Maybe all AIM directors should be paid a large % of their remuneration in shares on the closing day prior to issue ... that would clean up a few on thy gravy train :)" http://uk.advfn.com/cmn/fbb/thread.php3?id=33917179&from=1
12/12/2015
20:02
hedgehog 100: MMO directors having been paying themselves in shares recently to conserve the company's cash, effectively therefore buying shares ... and at about double the current share price or more: 22/10/2015 14:00 UK Regulatory (RNS & others) Mercom Oil Sands Plc Issue of Equity "The Company announces that it has issued a total of 1,782,294 New Ordinary Shares in settlement of director fees and other advisory fees and charges. Of these shares, 523,415 New Ordinary Shares have been allotted to Kyle Appleby, a non-executive director of the Company, at 3.63p per share in settlement of fees charged under his letter of appointment. The remaining 1,258,879 New Ordinary Shares have been allotted at an average price of 3.97p per share in settlement of advisory fees and charges. These fees and charges have been settled in shares in order to preserve the Company's cash resources. ..." http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Issue-of-Equity/68983152 06/05/2015 15:00 UK Regulatory (RNS & others) Mercom Oil Sands Plc Issue of Equity "The Company announces that it has allotted a total of 3,034,886 New Ordinary Shares at 4.625p per share (being the mid-market closing price at the close of business on 5 May 2015). Of these shares, 440,291 New Ordinary Shares have been allotted to Patrick Cross in settlement of director's fees and expenses of GBP20,363 for the period from 1 July 2014 to 30 April 2015 and 2,594,595 New Ordinary Shares have been allotted to John Zorbas in settlement of invoices totalling GBP120,000 in respect of his consultancy contract with the Company, for the period 1 April 2014 to 31 March 2015 and are being settled in shares in order to preserve the Company's cash resources ("the New Ordinary Shares")...." http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Issue-of-Equity/66732886 So what are they saving the company's cash for? Well, the company's final results in September said this: 30/09/2015 17:24 UK Regulatory (RNS & others) Mercom Oil Sands Plc Final Results " ... No further investments have yet been made, but the Company is continuing the process of identifying investment opportunities which match our strategy, and of evaluating the potential profitability and risks associated with them. ..." http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Final-Results/68717594 MMO's interim results should be out next week, and it will be interesting to see if any progress has been made.
08/12/2015
20:21
hedgehog 100: The company has fulfilled its investing policy, so there is no danger of being delisted for failing to do so: 18/12/2014 17:41 UK Regulatory (RNS & others) Mercom Oil Sands Plc Half Yearly Report " ... As a result of these investments, the Company was deemed to have implemented its investing policy for the purposes of Rule 15 of the AIM Rules for Companies. ... " http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Half-Yearly-Report/64853092 And from a market cap. of just £320K., the downside looks limited, whereas any good news could see this soar. It could for example be a very attractive RTO (reverse takeover) vehicle.
08/12/2015
19:50
hedgehog 100: A memo that MMO is looking oversold: valued at under a third of a million pounds, barely half of MMO's last reported cash: Mercom Oil Sands (MMO) 1.875p market cap. £0.32M. http://uk.advfn.com/p.php?pid=quote&symbol=MMO MMO's final results just over two months ago reported net asset value as 12p per share, over 10p per share (540%) higher than MMOS's current share price of 1.875p, and sounded relatively upbeat and confident: 30/09/2015 17:24 UK Regulatory (RNS & others) Mercom Oil Sands Plc Final Results " ...On 16 July 2014 the Company announced that the Board had decided to proceed with the share capital reorganisation approved at the General Meeting of the Company held on 24 May 2013. This reorganisation, which was completed on 31 July 2014, effectively consolidated every 50 old Ordinary shares of 0.1p each into one new Ordinary share of 0.1p each. The Board considers this will facilitate future investment decisions, and has placed the Company in a position to implement its investment strategy with increasing confidence. No further investments have yet been made, but the Company is continuing the process of identifying investment opportunities which match our strategy, and of evaluating the potential profitability and risks associated with them. The annual audited accounts accordingly show that the Group had cash reserves of GBP609,450 at 31 March 2015, after corporate expenses of GBP275,000 had been incurred during the year (2014: GBP480,000). Net cash used in operations amounted to GBP108,019 (2014: GBP583,014). Our net asset value decreased to GBP0.12 per share from GBP0.17 per share in the previous year. Net assets value at 31 March 2015 was GBP1,428,492 compared to GBP1,818,865 as at 31 March 2014. The decrease was chiefly the result of the cash used in operations and the GBP200,000 impairment recorded on the investment in Lion Natural Resources Limited. On 16 May 2014, the Board accepted the resignation of Albert Taubi as non-executive director, while expressing its gratitude to Mr Taubi for his efforts to promote the interests of Mercom Oil Sands Plc since its incorporation. Despite the challenging environment in the resources sector, the Directors continue to believe there are opportunities to create value for shareholders. ... " http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Final-Results/68717594 MMO's interim results are due by the end of this month; they were released on the 18th. December last year: 18/12/2014 17:41 UK Regulatory (RNS & others) Mercom Oil Sands Plc Half Yearly Report http://uk.advfn.com/stock-market/london/mercom-oil-MMO/share-news/Mercom-Oil-Sands-Plc-Half-Yearly-Report/64853092
14/5/2015
12:41
simpletonremover: Funny, isn't it, when you scroll through company announcements which at the time seem to have little or no reason for being written until a subsequent announcement emerges. This stock is clearly massively undervalued yet when the price began to correct upward at the end of April, John Zorbas, CEO, announced that they saw 'no reason' for the price rising. Well, clearly, there was a reason, a very simple one, it's massively undervalued and it has a tiny number of shares in circulation and even a small buying flurry will have a significant impact on the share price. So, why would John Zorbas announce this to cool the price rise ? The answer is in the following RNS. John Zorbas and Patrick Cross had already decided to pay themselves in shares for their services, which in itself is a positive because they obviously felt they will make more money this way. However, before they had chance to do so, the price began to rise, which would have meant they received less shares for their invoiced services and had it continued upward at a pace, the number of shares they received would have been even less still. How to overcome this ? Put out an RNS stating 'we see no reason for the rising price'. Very crafty indeed and purely serving a self interest but explains the 'see no reason' announcement. Didn't they write on their website in their Strategy statement, 'The Board's principal focus will be on achieving capital growth for shareholders' ? Tut, tut ! Still, technically, they were telling the truth, because they didn't write 'capital growth for ALL shareholders'. Funny old world.
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