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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Madagascar Oil | LSE:MOIL | London | Ordinary Share | BMG5738R1016 | COMM SHS USD0.001 (DI) |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.45 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 0.45 | GBX |
Madagascar Oil (MOIL) Share Charts1 Year Madagascar Oil Chart |
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1 Month Madagascar Oil Chart |
Intraday Madagascar Oil Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 03/8/2017 | 20:46 | MADAGASCAR OIL LIMITED - NAV 130p, currently 11p | 2,496 |
| 21/12/2016 | 10:41 | Madagascar Oil - Rampers paradise - Be warned | 281 |
| 10/11/2014 | 14:06 | Video interview with Gordon and Stewart | - |
| 06/11/2014 | 10:33 | Full field development plan submitted | 1 |
| 29/8/2013 | 19:15 | Madagascar Oil | 1,601 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 03/8/2017 20:46 by euclid5 Interesting to see what they do with the co now it's in private hands"Short term financing for working capital purposes of US$15 million (the “Bridge Loan”) to be provided to the Company by BMK Resources Limited (“BMK”), a company connected with Benchmark Advantage Fund, Ltd. (“Benchmark&rd hxxps://www.energy-p Shocking how they went to 140 potential co's to farmin to MOIL "Since the summer of 2015, the Company has been conducting, with the assistance of Jefferies and other advisers, a "Partner Process", to identify and secure a strategic partner(s), to work with Madagascar Oil on the development and funding of the Tsimiroro Block. The Company can confirm that this Partner Process is continuing, but that it has yet to yield any actionable proposals" "Under the terms of the Bridge Facility, the Company provided a Lender Report to the lenders on 6 January 2016. In this, the Company reported that it had presented the opportunity to over 140 organisations ranging from E&P companies, oil services companies, private equity firms and private investors. The Lender Report explained that a number of leads were being pursued and were undertaking due diligence including" |
Posted at 01/8/2017 15:11 by mortimer7 The last communication I had via my nominee account was that there would be a chance to vote & receive offer documents.None of this has happened & so today I was bemused to have received proceeds from sale of my shares in to my account. $0.75cents per share. |
Posted at 16/6/2017 22:15 by rapide35 jbfnfn,The price being offered by Benchmark/BMK is close to the last price before delisting last year, that's the only reason I can think of for the number. I suspect that most of the larger shareholders departed long before delisting. As I recall, the only lenders are Benchmark, Outrider, DeJoria and SEP/Persistency, the only large shareholders left. They have been funding the company with loans rather than equity, so I imagine that the BMK deal includes repaying the debt as well as buying out the equity. If you look at my posts here when the company was still listed, the present buyout is one of the things I thought likely to happen this year. It looks as if the large shareholders other than BMK have decided to get their loans repaid and cut their losses on the equity. As you are a shareholder you should soon receive the offer documents where everything may be explained. |
Posted at 16/6/2017 19:28 by jbfnfn Mr rapide35,Can you explain how BMK have decided on US$0.0075 per share? With 795,713,264 shares in issue that values the business at about $6m or £4.7m. It looks like the only trade on Britdaq went through at 0.35p. From memory it delisted from AIM at a closing price of about 0.4p What about the big shareholders who were not lenders (from memory John Paul DeJoria Family Trust? Blakeney Group?). Do you know if they will somehow still be invested after this? I've lost money here holding to the end, but I had them mainly for sentimental reasons. Any further info you could supply would be helpful. I try to learn from my losses. |
Posted at 15/6/2017 21:06 by whowants2bamilionare June 15, 2017Posted by Madagascar Oil Admin 2017 Press Releases, Press Release, Recent News Comments are off for this post Antananarivo, Madagascar – 15 June, 2017 Madagascar Oil Limited (the “Company” Newco is 100% owned by BMK Resources Limited, a major lender to and substantial shareholder of the Company. A summary of the Amalgamation Agreement together a Background to the Amalgamation has today been dispatch to shareholders of the Company together with other important information relevant to the Amalgamation (“Notice to Shareholders”) The Board of Directors of the Company has approved the Amalgamation Agreement and the Amalgamation. To be effective the Amalgamation requires the approval of a simple majority of Shareholders. Shareholder approval is being sought by way of a written resolution of the Shareholders in accordance with the Company’s Bye-laws. The form of written resolution pursuant to which the Shareholders may approve the Amalgamation is included in the Notice to Shareholders. Shareholders may indicate their written approval of the Amalgamation Agreement and the Amalgamation by signing and returning a copy of the written shareholder resolutions. The Amalgamation will be duly approved by shareholders when holders representing, in aggregate, a simple majority of the issued share capital of the Company sign and return the written resolutions indicating their approval. Upon shareholder approval, the Amalgamation will become effective when the Company and Newco register the Amalgamation with the Bermuda Registrar of Companies and the Certificate of Amalgamation is issued. From the time of issue of the Certificate of Amalgamation the Company and Newco will be duly amalgamated and will continue as one Bermuda company. As a result of the Amalgamation the Company will become wholly owned by BMK Resources Limited and the issued share capital of the Company will be canceled in exchange for the right of Shareholders to receive payment from the Amalgamated Company of US$0.0075 per common share previously owned (“Amalgamation Consideration” In order to receive payment of the Amalgamation Consideration shareholders must complete and sign the Shareholder Payment Instruction Form attached to the Notice to Shareholder and deliver it to the Company in accordance with the instructions set out therein. About Madagascar Oil Madagascar Oil is a private independent international oil and gas company focused on exploration, development and production opportunities in five onshore blocks in Madagascar. Operating in Madagascar since 2004, Madagascar Oil is Madagascar’s leading and longest operating oil and gas company. In early 2015, the country’s first Mining Title of Exploitation and Transport of Hydrocarbons was issued by the Malagasy Government, resulting in a 25-year development license on Tsimiroro Block 3104. |
Posted at 21/12/2016 10:41 by mortimer7 FYI:-BritDAQ Ltd has been appointed to be matched bargain operator and will also soon become the share registrar for Madagascar Oil PLC. Now that the shares have been de-listed from AIM, the place where you can either buy or sell the shares is on the BritDAQ website.To become a BritDAQ Gold Member, kindly visit hXXps://www.britdaq. |
Posted at 25/3/2016 13:54 by carrottop I sent an email to MOIL expressing my disappointment about how I consider my investment and some shares I had put away for my kids being being taken from me for practically nothing by the Bond holders and to my surprise I got a reply and must admit it is a considerate and thoughtful reply which is unusual in this business. I have reluctantly sold some of my shares but am keeping the rest in certificate form and after absorbing the email I feel there may just be some hope yet. Copy of reply to my email follows:-Dear Mr Stewart, Many thanks for your email and getting in touch. As way of introduction Camarco is working with Madagascar Oil and the Board has asked that I come back to you on your email. The team at Madagascar Oil share your frustration and disappointment as to how this situation has worked out. The management team has, and continues to, work tirelessly to secure a partner and alternative sources of funding for the development of the Tsimiroro field since Jefferies’ appointment in June 2015. We entered into a short term Bridge facility compromising of two tranches, with Outrider Management LLC, BMK Resources Ltd, SEP African Ventures Ltd and the John Paul DejoriaFamily Trust in September 2015 so that we were able to continue operations and our work towards securing a partner. The first tranche of funds were made available in October 2015 and we continued to progress the strategic process. Unfortunately, and as you will be aware, the current macro-economic conditions and the low oil price environment made it impossible to bring a strategic transaction to a conclusion in that time frame and subsequently our lenders informed us that they were not prepared to provide the full amount available under the second tranche of the above Bridge Facility. However they have indicated that they may provide some further funding, subject to additional conditions which includes a delisting of MOIL’s shares. Importantly this funding will allow the Company to continue its advanced discussions with potential partners for the development of the Tsimiroro field, but there are no guarantees that those will lead to a successful conclusion. It is important that you understand that the major shareholders / lenders would simply not have funded the Company going forward without an agreement to propose the delisting and that would have meant insolvency. The Company and the Board are very aware of our responsibilities to all shareholders and the Independent Directors of the Board have worked hard to protect your investment in the event of a delisting and minimise further dilution and certain other possible negative effects the delisting may have in the short term. We consider this to be of particular importance as the current share price does not reflect the potential value of the business and its assets and the future upside for shareholders should a partner be successfully identified or a strategic transaction completed in the short term. As a private Company you will still be able to participate in any value accretion from here, although there is no guarantee as to what further dilution shareholders may suffer over time. The Company has secured the following commitmentsfrom in place with the Relevant Lenders to try to protect your investment in the event of future upside in the short term., minimise further dilution and provide you with the ability to continue trading your shares in the event of a delisting. Further detail on these can be found in the Circular under section 3.4. In short these include: · No conversion of debt before 15 September 2016 · No compulsory purchase before 31 December 2016 · Tag-along and drag-along rights · Share trading service for 24 months (if practicable) · Website content for 24 months We would hope this provides some comfort during this period and re-assures you that the Company has done whatever it can to preserve value and that should a partner be identified you will have the opportunity to share in the potential upside in the near term. I hope this is helpful but do let me know if you have any further questions. Kind regards Georgia Georgia Mann Associate Partner Camarco |
Posted at 21/2/2016 21:43 by control1 Big, BIG questions to be answered here. The major shareholders have pulled the funding because they are unhappy with the performance of the company in finding a partner. So, lets examine the make up MOIL.Mr Andrew Morris - non exec chairman and FOUNDER of Persistancy now SEP African Ventures (23.46% ownership of MOIL) and Mr Stephen Hope - non exec director and FOUNDER and virtually sole proprietor of Outrider (28.8% ownership of MOIL) Oh wait, these 2 (Non Exec chairman and director) basically own/control 2/3rds of the investment vehicles that own and fund MOIL, so essentially, THEY ARE MOIL. I find it hilarious that they are therefore in essence being publically critical of their own performance. Surely they must see the irony in this...?!! BMK (31.72% ownership) are a bit of an enigma at the moment as info is harder to come by but according to the relationship agreement (18/12/12), they would seem to be connected to/in cahoots with SEP. Clearly the directors also forgot the RNS that THEY ISSUED on the 7th September 2015 stating "A clear timetable has been established and the process is currently expected to run through to the end of 2015, with the target of finalizing any transaction by the end of Q1 2016." Several of the prospective partners listed in the latest RNS are due to complete due diligence around about this time so, an offer may or may not be forthcoming as a result HOWEVER, the moment that the permit for Tsimiroro arrived, all bets are off and thy can't wait to bump out the PI's. Lets be clear. This was clearly a long term plan and there is absolutely 0%(that's ZERO) prospect of the major shareholders not continuing to fund MOIL, they have all invested way too much money not to continue and they will all make a huge amount of money in the longer game when they partner up. The withholding of funds here is a ploy, plain and simple to rob PI's of the remaining 10% of the stock for a pittance. This is theft in the true terms of the definition so we, the private investors who are being screwed over, should stand up and make a LOT of noise about it and expose these crooks to the harsh light of the bad and unwelcome publicity that they so DESPISE... |
Posted at 04/2/2016 11:43 by squiresquire The company did not slam the brakes on, they certainly tried to but i think that for sure Robert Estill doesnt spend his day watching MOIL share prices,it was the MMs who must have asked for a clarification RNS off the Nomad because as you can see the virtual non-existence of free float shares must make this an absolute toad to manipulate for the MMs when its moving quickly. They wanted time i feel to get more shares.Just give it until he RNS and i am expecting 20p at least because the Permit will allow any interested companies to finally see capex - opex in the latter part of this year when they will possibly be marketing. |
Posted at 02/2/2016 12:43 by gimmetheloot It is vital with MOIL to remember that it has been working in Madagascar for eleven years.It has spent $300 million to get to where it isnow, ie right at the production stage. It is currently producing, its now awaiting results from potential customers tests on its oil, and it is expected to supply the government generating stations.There is no other supplier in Madascar who can do this. Though the oil is called heavy, it is lighrter than water and MOIL use it for their steam program thus reducing costs even further. The oil is very shallow and therefore very cheap to produce. Madagascar Oil has spent over $300 million in the past ten years through drilling 138 appraisal and pilot production wells in Block 3104 WHERE IT HAS 1.7 billion barrels of HEAVY OIL. MOIL producing now will have its first sales on this years accounts, first sales due to be notified any time now. This development mining title also covers appraisal activities of conventional light oil potential in the Tsimiroro South and Tsimiroro Deep South areas It operates the four onshore blocks at 100% with its non-operating block at 40% with super major, Total. MOIL is targeting production of 10,000 barrels of oil per day by end 2018 Although VSA Capital reckons the shares to be worth more than three times current levels (10p) at 35p, this is half its February target price of 70p. It's still a bullish stance and explains the 'buy' Currently the management are still working on the funding. Since last year when they opened the farmout information room to investors they have been pondering the correct course to take. The market is currently awaiting the management decision on this, again any time now. Once that hits the RNS we are in for a serious raise as it is beyond doubt that the CEO Robert Astill will drive a good deal, his experience is at the top for years. 25 Jan '16 GraphiteTech RE: Flying 3.25 No Opinion From advfn. 25 Jan'16 - 09:12 - 1938 of 1940 1 0 It is vital with MOIL to remember that it has been working in Madagascar for eleven years.It has spent $300 million to get to where it isnow, ie right at the production stage. It is currently producing, its now awaiting results from potential customers tests on its oil, and it is expected to supply the government generating stations. There is no other supplier in Madascar who can do this. Though the oil is called heavy, it is lighrter than water and MOIL use it for their steam program thus reducing costs even further. The oil is very shallow and therefore very cheap to produce. Madagascar Oil has spent over $300 million in the past ten years through drilling 138 appraisal and pilot production wells in Block 3104 WHERE IT HAS 1.7 billion barrels of HEAVY OIL. MOIL producing now will have its first sales on this years accounts, first sales due to be notified any time now. This development mining title also covers appraisal activities of conventional light oil potential in the Tsimiroro South and Tsimiroro Deep South areas It operates the four onshore blocks at 100% with its non-operating block at 40% with super major, Total. MOIL is targeting production of 10,000 barrels of oil per day by end 2018 Although VSA Capital reckons the shares to be worth more than three times current levels (10p) at 35p, this is half its February target price of 70p. It's still a bullish stance and explains the 'buy' Currently the management are still working on the funding. Since last year when they opened the farmout information room to investors they have been pondering the correct course to take. The market is currently awaiting the management decision on this, again any time now. Once that hits the RNS we are in for a serious raise as it is beyond doubt that the CEO Robert Astill will drive a good deal, his experience is at the top for years. Posted by Graphite last week on LSE 300 million spent ;-)) |
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