Roxi Petroleum Share Discussion Threads

[konil] 02/12/2016 12:21

hey folks! its december now, so we should be hearing this month about the merger.

hopefully that will also clarify the cash position and release the logjam of much positive news on all 3 deeps, which they have been working away feverishly at, and which are now flowing at 5000bopd in aggregate...

...hang on, was that a pig flying past just then...

[konil] 30/11/2016 16:44

roxi havent done themselves any favours...but that's our problem not theirs...they're not interested in us little pi's.

and despite all our frustrations with it they do seem to be on the cusp of delivering a massive result with a6/bng.

with the merger being done at 'fair value', (that is if you ignore all the non-bng roxi assets baverstock will get for free!), one of the big uncertainties has been removed.

perplexing why there has been no reported progress on a5, 801 and a6...but as i've already said my guess is they have run out of cash.

we'll find out eventually...

[ngms27] 30/11/2016 11:38

The LSE board is a waste of time and effort and for the record I've consistently posted what can be con-screwed as negative comments on Roxi WHILST holding the shares.

We all know these aren't for Widows and Ophans and are not run for the benefit of any PI's. The BoD are one of the worse I've come across and another bad one has a common element to RXP.

So it's very high risk/reward here, a pure gamble not an investment. There are plenty of safer potential multibaggers to put monies into.

[flawlesskicks] 30/11/2016 10:51

ngms27 - can I please ask why you only post on LSE board when you are beating up Roxi? I know you have bought back after positive developments the last few weeks but not sure why you can't come on LSE and be positive? You only seem to post negative comments there once you have sold your holdings?

[ngms27] 30/11/2016 08:04

I'll buy the nails, from B&Q on next day delivery

[control1] 30/11/2016 00:02

Smarty - re HUR/PANR, almost certainly. I made a fair bit on the latter but bailed after the horizontal on the previous well went through drill bits like cheese straws (where I gave some of it back)...

I have a golden rule now that I follow religiously for any successful company. I will ride the wave of sentiment, one mis-step is allowed which generally doesn't damage sentiment too much but the second one is usually the killer.

Obviously this rule doesn't apply here as Roxi are on about the 50th mis-step by now. It has become a battle of wills and I am determined that this company IS going to be a success, even if I have to use Carver's head to drill the final 50 metres of the deep well that will give us a 2,000+ bopd sustained flow rate....

I absolutely detest the bloke now and, if we have yet another failure due to cutting corners, lying and general dodgyness, I am going to do everything in my power to crucify him.

[ngms27] 29/11/2016 10:01

B&Q deliver next day ;)

[xclusive2] 29/11/2016 09:59

Control,HUR probably having a little sell off as a result of the poor news at PANR. Probably leveraged players getting singed.Smarty

[xclusive2] 29/11/2016 09:57

Jonny,Read the presentation properly. They're still waiting for the bags of cement to be delivered (-:Smarty

[ngms27] 29/11/2016 09:44

Houston we have a problem. A6 should have flowed by now. 7 days max to set casing, perforate and clean up.

One other option is that they are waiting for a mega RNS:
A6 Flowing
Baverstock Merger completed
Fund Raising

All together in one RNS

[flawlesskicks] 29/11/2016 09:40

I don't agree. A6 is set to flow. Look how quickly they flowed 141. It took 3 years to clean up 143 and 141 they flowed immediately. Looks to me like they have the mud mix right and the pressure from the deeps is enough to clear this new formulation. If we prove up 500million barrels here with extraction costs of $2 a barrel we will have a 10-20 x rise here.

[control1] 29/11/2016 07:52

If they can show that Lancaster, Lincoln and Halifax are connected, your double is going to look a little silly.

Meanwhile here, a reserves update is about as much use as a chocolate teapot if they can't get the stuff out of the ground and this is very questionable if they continue to use the bucket and spade outfit..

[flawlesskicks] 29/11/2016 07:42

It may double from this point but it is unlikely to go up 400%. Roxi however is at the beginning of the rise and could easily rise 500% over the coming 12 months. Looking at the risk/reward curve, I am much happier being in Roxi with a market cap of £100million than HUR with a market cap of £500million. It is a personal choice but as ngms27 has said, we may get a 10 x increase in proved reserves shortly which will re-rate the price here accordingly.

[control1] 29/11/2016 07:15

Flawless-k, the % rise for HUR to date is irrelevant as it is likely to do the same again very soon...

[flawlesskicks] 29/11/2016 05:57

HUR has risen over 400% since last year. Sou has risen about the same. Roxi is still at the start of the journey and 2017 is the year things all fall into place. With a market cap of less than £100 million, Roxi is by far the best bet IMO.

[control1] 28/11/2016 22:08

Make that 3 with HUR, possibly about to go intercontinental in the not too distant future...

[ngms27] 28/11/2016 18:02

I can name two:
1) SOU
2) PVR

[flawlesskicks] 28/11/2016 17:04

Same here. My plan has always been to stay in until 2018 so taking the odd top slice here and there but I honestly can't find an investment with more potential than Roxi on the AIM market. I have increased my holding to 1.5million shares today.

[konil] 28/11/2016 14:32

you may well be correct in your assessment especially given roxi's track record to date, but the market can become irrational at times and if hype (based on at least some commercial deep success) kicks in this could be off to the races.

meanwhile $5 npv for oip appears 'reasonable', whatever that means. whether the share price reflects that, lower or higher, is another matter entirely.

[konil] 28/11/2016 13:33

jonny, your posts 33880 and 33883, steady on man, they are almost positive!

from my post 33848 - "...if say roxi's 59% deep reserves are 300m, at say $5 for oip, that's $1.5bn. with c.1bn shares that's $1.50/share = £1.20/share."

so your reserves number in post 33883, 500m (with 100% to roxi after merger but with increased shares in issue), is in concurrence.

slide 17 suggests npv of oip at $50/bbl is c.$5.70 (and higher for shallow assets).

so sticking with my previous more conservative number ($5), we could indeed be looking at £1.20/share.

[konil] 28/11/2016 13:07

alan2b, thanks for the link.

et al,

didn't roxi (like other companies) rns availability of new presentations - did i miss it?? perhaps this is precursor to funding round.

looks like ops on a5 and 801 have been on hold for several months, and now possibly also on a6.

merger details appear very promising according to pre and post merger shares in issue numbers and holding percentages, i.e. on the up and up, no mates rates etc.

debt free except for $10m loan from ceo, ok, we knew that but big omission is any mention of cash-in-hand position. this is still a bugbear for me and a fed flag - especially when combined with what appears to be a hold on deep ops!

on balance 1 big unknown removed (baverstock merger, assuming it goes through as trailed in the presentation) and 1 big unknown ignored in the presentation (cash position).

[cmr79] 28/11/2016 12:57

Thanks Flawless,

Been holding since 2013 so another couple of years isnt going to matter lol..