|MX Oil Plc
||EPS - Basic
||Market Cap (m)
|Oil & Gas Producers
MX Oil Share Discussion Threads
Showing 2426 to 2448 of 2450 messages
|Oslo 5th Dec 2016
The Company, through its fully owned subsidiary, Pan Petroleum Aje Limited (“PPAL”), holds 6.502% participation interest in OML 113
The Court order has been received whereby PPAL has been granted an interim injunction. The other joint venture partners are now temporarily restricted from taking any action under the default provisions of the JOA
Oslo, 6 December 2016: Panoro Energy ASA (“Panoro” or the “Company” with OSE ticker “PEN”) provides an update on the OML 113 dispute with its joint venture partners. The Company, through its fully owned subsidiary, Pan Petroleum Aje Limited (“PPAL”), holds 6.502% participation interest in OML 113.
Further to the announcement made by Panoro on 5 December 2016 in respect of an interim injunction granted to PPAL against its joint venture partners by the English High Court, yesterday PPAL formally commenced dispute resolution proceedings with the OML 113 joint venture partners by filing a request for arbitration with the Secretariat of the International Chamber of Commerce. The dispute concerns the purported passing of resolutions by the joint venture partners with respect to a proposed new well to be drilled at Aje in OML 113, and a related cash call. While Panoro has the financial ability to fully meet the amount of this disputed cash call, the Company believes the drilling of any new well is pre-mature at this stage. Panoro is also of a firm view that the decision to incur such additional capital expenditures at Aje unambiguously requires unanimous consent of joint venture partners, which as such has not been taken in accordance with the Joint Operating Agreement procedure.
Panoro will seek to recover all losses, costs, expenses, compensation and damages in law and equity caused directly or indirectly by the joint venture partners’ breach of their contractual and equitable obligations. Panoro will also continue to take all necessary action to retain its equity participation in OML 113 and to preserve shareholder value.
|So what are the chances of an oil pickup before Christmas?
If we are averaging 7k bopd then I think we should. 5k bopd average will take another 2 or 3 weeks|
|Pumpers buying in the background.They will likely pump this overnight and hope to enjoy a rise tomorrow which they will offload into.|
|As long as we can get another oil shipment before Mexico is mentioned again, then I think we should stay at least at this level.
Geo Strata are now partnering with a Norwegian company and likened MXO to a "bad girlfriend". Still not sure who's research was responsible for the bids that were put in, but that will definitely be looked at by investors if are going to try to go it ourselves.|
|Prob be back down to 1p now everyone was expecting big things from that rns|
|Wow, $1.2M from the oil sale and no comments at all here.
Traders are taking profits, but with all those Chinese buys, I think most LTH may de-risk a little at most and hold on to see where this is going.|
|Whats brewing here with Chen stakebuilding and directors increasing their shares?|
|More stakebuilding with X Chen over 8% now.
Added 9m shares.|
|More Chinese buying with the 500k blocks perhaps.|
|Well I think todays RNS's helped. Stake upping by two chineses investors. Are they related I wonder, seeing as they each have almost identical stakes 6.84% and 6.83% or do I have double vision...duh! Charts don't lie!|
|This is the chart:
free stock charts from uk.advfn.com
Looks rather nice don't you think. Just had results recently too. Looks very promising. Testing resistance at 1.25p (mid) so may or may not pause here. Initial target is 1.50p (mid), could spike to 1.60p maybe. Ultimately should go to 2p given the completed multi-month base pattern. The cycle of three pattern (basically another H & S pattern that never completed...i.e broke down) formed in a great place - on or above the top of the completed base pattern. How bullish is that!!|
|Have posted a chart on MXO on my thread BIKWIK and Technical Analysis if anyone is interested. Lots of other stuff on their too.|
|Not alot going on in here is there?
'London Spirit' tanker may have offloaded the oil from the FPSO. No news on that yet, but should reach its destination in about a week or so. (Just approaching Western Sahara) Hopefully we'll get a good RNS after that.
There have been alot of holdings RNS' recently and the final results were only 3 months ago. Not sure what their cash balance would be now but they had just over £200k at Christmas and Raised just over £3.4M in the placing in May. £1.66M loan notes were repaid in June and August saw the acquisition of Jacka Resources Nigeria, 'for a nominal sum'. So we had about £2M cash minus this nominal sum and usual cash burn at the end of August? Not sure if the change in ownership has been approved or not yet though.
So my guesstimate is that we still have over £1M cash and about to be paid for the first oil shipment by mid October.
Not sure what our cut will be but if we get 5% of the 750,000 barrels the FPSO holds, that is 37,500 * $45 per barrel? Around $1.7M or £1.3M And the FPSO took about 4 months to fill at the current production rate, so hopefully February will see another tanker at the site making a pickup.
Assuming of course that all my assumptions are correct. :o)|
|Rns due on first tanker of oil could be any day now .big news for mxo|
|Lookss like a takeover bid soon then im guessing 3p|
|This surely is not his first investment in MX Oil.|
|This surely is not his first investment in MX Oil.|
|Nice director buys|
|What would be the takeover price in pence do you recon?|
|MXO triggered a breakout alert.
|great, I think will be very good soon, More than 1p|
|This will drift now for the next month. Prob back down to 0.6 - 0.7 .|
|Will Richard James Carter purchase shares in here? I reckon he will. Hamilton @ Panoro recently did, will we see the MXO BOD invest?|