Mx Oil Share Discussion Threads

[toolsmoker] 23/5/2016 16:47

Andy Johnny better start lifting again then

[andy] 23/5/2016 15:33

Tool,

Maybe it was Johnny's buying that pushed the price up in the first place?

[toolsmoker] 23/5/2016 14:52

Maybe someone got wind of these flow tests and they not so good .what's happened to Johnny hon buying he don't fancy it anymore

[toolsmoker] 23/5/2016 09:01

Back to .75 it is let's hope for news this week or we will continue to drift lower

[toolsmoker] 20/5/2016 15:23

Spoke too soon maybe some late volume before close could push us back up let's see if .90 can break again

[toolsmoker] 20/5/2016 14:18

Think the pull back to .75 is coming .next week may be interesting

[njw2] 20/5/2016 13:59

Some consuladation and a pullback are healthy I think. I think we go 0.70 - 0.80 before potential news in the next weeks.

[shareho1der] 20/5/2016 13:58

I have a serious doubt about this company. They are all about raised hope and a scam.Mexico: First, they have a great four acre prospects then it suddenly become one. We heard talk of 4 for 1 acreage swap with a partner before a mysterious "competent" person declared all 4 acres useless. All these after wasting all the money raised from placing. Nigeria: Appropriate country for a scam company. First a bid of $18m for 5% of a producing oil and MXO make song and dance of how they need the money for Mexico. Now we heard the mysterious buyer can now no longer able to find money for a deposit. Suddenly MXO now want to keep their Nigeria investment and ramping up the bopd.No wonder sell ONZ their 20m shares at 6,8% profits and retained their risk-free 4m warrants at 1p.

[mostyn] 20/5/2016 10:18

It's falling on very low volume compared to trading in the last week. I'm surprised its fallen back even this far as the Aje field economics look very good if they hit the 550 bopd at the current price.

I have seen quoted elsewhere that the cost per barrel to MXO is $31 so at the current oil price the margin is around $18-$20 per barrel. Over 12 months this gives £2.5m-£2.8m margin on the cost of the oil before all other company expenses.

It looks cheap whether we sell (although $18m looks far too cheap at which to sell) or even cheaper if we keep the asset. All this of course depends on whether the $31 per barrel is correct. (Edit: and assumes we hit near the quoted daily production figure.)

[toolsmoker] 20/5/2016 09:09

Might see a small pull back to .75 interest drying up looks like

[njw2] 19/5/2016 14:39

I think this drops back to 0.75-0.8 before a move again higher .

[goodbloke1] 19/5/2016 13:37

Thanks Sock

[socktrade1] 19/5/2016 13:01

Goodbloke, if it's 11000bopd plus, i can see 2p easy which is a MC of just £15m for an asset that will net us 550bopd at $20 profit= at current oil price= $330,000 which is over $4m per year = £2.8m profit per year or there abouts.

We need a few things that will really help the share price on its way:

Flow rates that meet or exceed expectations..

good outcome from the off take meetings= RBL for phase 2 confirmation

Good CPR results from AJE

It's a steal at these prices imo

[dlg3] 19/5/2016 12:58

He said the current status of the oil well has the capacity to produce at least 12,000 barrels per day, with a possibility to increase to 25,000 to 50,000 barrels per day in the nearest future. Folawiyo also presented Governor Ambode with a sample of the crude oil discovered by his company in the State, a confirmation of Lagos becoming the first basin out of the Niger Delta to become an oil producing state, which according to him, is by no means a small feat.

[goodbloke1] 19/5/2016 12:49

What price do think is realistic if 11000 flow rate or has this been discounted?

[socktrade1] 19/5/2016 11:21

If there anyone is a member on lse please post the above post as a lot of people are wrong about that point

[socktrade1] 19/5/2016 11:20

I don;t want an rns until they have built flow rates up to 11-12000 bopd, SO did say an rns will be issued once final stabilised flow rates are out so to those on lse saying we will get an rns with a lower bopd and then build upto to 11000 are wrong as they are building upto it as we speak and will let us know once final stabilised rates are known

[socktrade1] 19/5/2016 11:18

1p is a tough nut to crack. hopefully we can breach this in the afternoon, i have readjusted my target to 2p, which i think will be smashed next week

[toolsmoker] 19/5/2016 08:15

Indeed .vetted get buying then

[silvercoast] 19/5/2016 08:03

Buy the rumour, sell the news.

[toolsmoker] 19/5/2016 08:03

Buyer back in think 1.2p before news possible

[toolsmoker] 19/5/2016 07:49

Let's see what today brings rumours of bid

[toolsmoker] 18/5/2016 22:09

I hope they are right too it's been painful this let's hope there is a ray of sunshine coming

[chicken charlie] 18/5/2016 21:54

I hope you are right

[toolsmoker] 18/5/2016 21:52

Not pumping no just saying what I've heard you make your mind up .bid could be lower than the price is also but I'm sure that won't be accepted