||EPS - Basic
||Market Cap (m)
|Oil & Gas Producers
A fourth option may be, after going private, raising cash in London Market or Institutional Investment, that they SELL to a larger oil company with London share price being a marker of price and quality of the paper work.
They already have Korean and Chinese connections. The Far East maybe the buyers home market. Several market deals have been made from that direction and set the precedent.|
|togglebrush: House brokers view. Date 6 February 2017
Roxi Petroleum Plc (LON:RXP) shares could more than double on the strength of its exploration programme in Kazakhstan, that’s the view of WH Ireland analyst Brendan Long.
Long, in a note, highlights the success of the current drilling to date and the potential that the company can add more value in the field.
“Roxi’s MJF structure has delivered exceptionally high production results and the well locations have increased the scale of that resource such that it now contributes 9.5p/sh to our target price based on our 10.5 mmb net recoverable resource assessment.
“The company is currently drilling a look alike prospect, North Yelemes with Well 808.”
According to Long, the next prospect could potentially be worth 10.5p per share to Roxi, while the ‘full upside case’ sees a further 10.p per share to his valuation.
An initial well result for North Yelemans could come before then end of the first quarter, Long says, and production testing could take place after that during the second quarter.
The two projects present “potentially transformative catalysts”, he says.
“Roxi’s current valuation, based on our estimates, is weighted equally between its deep and shallow assets,” Long added.
“Drilling success at Well 808 stands to materially tip the balance by creating additional value in the company’s shallow asset base. The MJF structure and if successful the North Yelemes structure each have the scales to independently form the basis of a successful oil & gas growth company.”
Presently, WH Ireland rates Roxi as a ‘buy’ and it has a price target of 23.3p (current share price: 9.69p) – and that excludes most of the 30.1p per share ‘additional upside potential’ identified by Brendan Long.|
|maxim1999: I see Carver was paid £240k in the year end 2015. Incredible. I am lost for words. I wonder on the remuneration committee is representing the shareholders. Seems very poor value for money if you look at the share price as measure of success and progress in the co.|
|whites123: Anyone else here excited about MAYA?
They want to buy back 4,247,500 shares (10%) for a maximum of £5,755,750
They have already bought back 340,000 shares for £205,611
So they still have to buy back 3,907,500 shares with £5,550,139
They can pay up to 142p (£5,550,139 / 3,907,500) to acquire the outstanding stock but for every share they buy below 142p, they can pay more than 142p to complete the buy-back, so the price should keep stepping up.
The objective of the buy back seems to be to get the share price up.
This could triple from here.
19th Oct -2016
RNS today showing they bought back more shares..
In a lightly traded stock like this they have the mandate to buy back almost 4,000,000 more.
Where will the share price be by then?
Many many multiples of todays price is my best guess.|
I never said this:
one minute your suggesting they won't be able to get the oil flowing, the next it's the Kazak's are going to shaft a few small investors from the UK for £10 or £20 million quid.
What I have said is that I think they have a < 20% chance of flowing either of A5, A6 or 801 in a sustainable manner based on evidence to date.
What field are you referring to? Remember 801 isn't the same structure / field as A5. The juries out on A6. The CPR stated the largest deep structure was <100m barrels and being totally honest they have probably chucked $40m at these so far and proven nothing.
What shareholders need is for A6 to go much deeper than A5, A6 to be the same structure (in pressure communication) with A5, be fully logged and the depth of the oil column established, followed by a sustained flow test at commercial rates.
That would certainly move the share price.
A CPR would then follow to suggest what exactly has been found.
If all the deeps fail to flow and aren't properly logged then RXP are effectively left with just the shallow's and an exploration license that runs out in 18 months. All acreage not proven is lost on this date. In this scenario current equity is well and truly screwed as despite what the puppet says the shallows aren't worth the current market cap.
The Kazakh authorities cannot stop this happening, only the drill bit can and the problem is the rig is underpowered as admitted by RXP.|
|togglebrush: This morning on a trawl through the Annual Accounts, looking for options, I noticed a major change in management strategy in April 2012.
“Perestroika” (“restructuring”) and “Glasnost” (“openness”) introduced profound changes to old Soviet Union in 1992. In 2012 the accounts, Roxi did a reverse of Openness and restructuring
Annual Report and Accounts 2011
These had the banner headline “Transition to Production”, Photographs, Maps, Graphics, and long passages of Dialogue in its 72 pages.
Extract from accounts shows the necessity for change
Future strategy…Given the Company’s financial constraints
Management changes David Wilkes has agreed with the Board that he will transition his CEO responsibilities to Mr Oraziman, the Company’s largest shareholder and principal funder over the past few years, who has been an executive director since 2008 and who will become CEO, effective on 1 June 2012
Mr Clive Carver Non-Executive Chairman remains as Executive Chairman
Mr David Wilkes Chief Executive Officer since left
Mr Hyunsik Jang Chief Operating Officer since left
Mr Kuat Oraziman Executive Director
Mr Edmund Limerick Non-Executive Director remains recent buy 1.7 million shares
Ordinary shares in issue during the period 468,011,360 with share price of 4p at 03/01/12
Annual Report and Accounts 2012
These had NO Headline, Photographs, Maps, Graphics, and NO passages of Dialogue in its 50 odd pages.
These were plain skeleton accounts which have continued to date
Extract shows effect of change
In contrast to previous periods the finances of the Company are robust.
During 2012, the Company was funded by drawing on the increased US$7 million Vertom facility, which at 31 December 2012 was almost fully drawn. As previously advised Vertom is connected to Kuat Oraziman, Roxi’s CEO.
We were delighted to sign the agreement with Kairat Satylganov in January 2013, for the investment of US$40 million for new Roxi shares to be issued at US$0.119 (7.4p) per share. To date we have called down and received the first US$12.5 million under the agreement which is being used to assist with the repayment of funds previously advanced by KNOC, other historic creditors and in connection with the on-going drilling campaign at BNG.
NOW we still have plain skeleton accounts and are doing the old KREMLIN WATCHING to discover what is happening behind ROXI’s iron curtain. Share holders are in the dark and will “Abchurch’ make any difference ???
In conclusion whist Shareholders have been in the dark and shares in issue has more than doubled, the share price has risen to more than compensate for the dilution|
|spacetomato: If, and that is if, the last RNS reflects indeed what the directors think the size and value of the field (s) are, we may indeed see a good revaluation of RXP share price. And, as far as I am aware, 2017 will be the year, as oil prices will be way over of what it is today, as I hear 70 USD a barrel and over seems right. China will wake up hungry and with a vengence. I say, be in oil to win.|
|themattbarnes: Motley Fool
Shares in oil exploration company Roxi Petroleum (LSE: RXP) and payment processing company, Optimal Payments (LSE: OPAY) are making gains thus far today after the two companies released positive pieces of news flow....
... Roxi Petroleum’s share price is up by over 6% today after the company announced that it has reached a deal to cancel royalty payments from its main BNG asset in Kazakhstan. In return for issuing shares in the company which make up around 5% of its enlarged share capital to specific parties, including Canamens and Sector Spesit, Roxi Petroleum will no longer be required to make royalty payments to those entities. This is viewed as a good deal by the company’s management, with it removing a future uncapped liability that may have limited its ability to access debt financing.
As a result, Roxi Petroleum’s share price could begin to reverse the recent weakness that has seen it fall from 18p in June to its current level of 11p. Certainly, as a smaller oil company it remains exposed to a falling oil price and, in the short run, this could act as a brake on the company’s share price performance. However, with Roxi Petroleum’s flagship asset, BNG, being relatively high quality, it appears to have the potential to post encouraging share price gains over the medium to long term. And, with it having a price to book ratio of 1.5, there seems to be sufficient scope for an upward rerating to merit purchase at its current price level.|
|ridicule: Aaron. Twaintwit is clearly deranged to a point where I have filtered him. Anyone who is interested in oil exploration and sees 105m+ of oil in the ground as inconsequential compared with the difficulties over the hole to reach it(A5)has no credibility.
Pre-salt drilling has been and always will be one of the most challenging drilling environments to recover oil. Anyone investing in RXP who did not understand this is foolish.
Whether A5 is abandoned or not will clearly have an impact on the RXP share price in the short term, as indeed the difficulties with A5 to date already have had, but the oil is still there and other holes will be drilled to access it if necessary.
As a value investor, I take a 2-3 year horizon on my investments. For what is worth, I do not think A5 will be abandoned. I say this, simply because the actual salt penetration zone of the drill (the highest risk area by far) went successfully and it would, therefore, be stupid to abandon that. I suspect the well will be sidetracked at higher levels nearer the surface to overcome the problem if the well does not clear through the cleansing effect of the oil that is still reaching the well head despite the coil and drilling mud restrictions.|
|johnwalton: The wider market is obviously not helping the rxp share price.
But the company have in my humble opinion fubar the recent
I will not be buying shares until the test's are fully completed and results
released and verified by a bona fide 3rd party.|
Roxi Petroleum share price data is direct from the London Stock Exchange