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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Madagascar Oil | MOIL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.45 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.45 |
| 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 17/6/2017 05:58 by runwaypaul what a fraud.a legalised conspiracy against the London markets. the dirty side of AIM that every investor should realise goes on day in day out. |
Posted at 23/2/2016 11:06 by rapide35 LibraG, on drag-along rights I don't know whether Bermuda company law would prevent the scenario I outlined previously, but there are other ways in which a private company can reduce the proportion of small shareholders. However, I don't see this as a current priority for the major investors. |
Posted at 21/2/2016 23:21 by saturn5 I think you are dead right in what you sayThe 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... but who will stand up for us 10% holding PIs. It all makes a mockery of the stockmarket and the encouraging of investment. As soon as value appears the company goes private and small investors are kicked out. this has happened with other companies. The delisting is to expulge the small investors. One would have thought that the large investors would be quite happy to stay with the listed company. After all they still will do well as the company prospers. I only wish that the LSE and the FSA would step in and offer some control on what is after all an obvious ploy. What are these government associations there for with their employees being payed fat salaries. |
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 17/2/2016 09:27 by john henry Good buy BT, a little more patience and imo investors will be rewarded.At present there is a forced private investor seller. IMHO |
Posted at 10/2/2016 12:47 by john henry 50k sold at 2.5p. News was expected BungeeTrader, however i think that was over enthusiastic journalism and now we have investors dumping stock.Im guessing a lot of investors didn't like the tone of the speeding ticket. SP is actually 10% lower than pre spike price, |
Posted at 02/2/2016 15:23 by squiresquire Peeps just dont get this share.The Company has exploration and development rights for oil and gas in Madagascar, and the Company’s two principal fields include Tsimiroro and Bemolanga. Block 3104 Tsimiroro is approximately 125km from the west coast of Madagascar. Block 3102 Bemolanga is located approximately 170 km from the west coast of Madagascar. The Company has 100% interest in Tsimiroro Block 3104. Madagascar Oil also has 100% interest in Blocks 3105, 3106 and 3107. The Company’s exploration projects include Manambolo Block 3105, Morondava Block 3106 and Manandaza Block 3107. The Company has a wholly owned subsidiary, Madagascar Oil S.A. The Company is developing a promising portfolio of onshore blocks in a region of growing prospectivity. Madagascar Oil is Madagascar’s leading and longest operating oil and gas company. It operates the four onshore blocks at 100% with its non-operating block at 40% with super major, Total. The Company is the first in the country to advance to the upstream oil and gas development phase. I feel that the tie in with Total, the tie in with Symbion and the pretty amazing effect this oil is going to have on over 20 million resident people on the island will bring this to the £ 2 plus mark in three years. However NOTHING 'SEEMS' to have been happening to MOIL for years. Thought they have got to the stage of storing the damn stuff, investors still think MOIL is an explorer. Dont ask why but they clearly dont get it yet, 1 The massive reserves found inland. 2 The huge areas offshore being currently operated by Total. 3 The pretty massive lease areas MOIL has yet to examine. 4 The customer base in Madagascar, 20 million, currently relying on imports. 5 Symbion as a customer, already with its generating capacities Govt sanctioned. The environmental licence is the stumbling block for the investors currently looking at MOILs data base. When this is given shortly i suggest there wont be much more stumbling. |
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 ;-)) |
Posted at 13/1/2016 15:35 by squiresquire From Motley fool, today then after an announcement from Sumitomo. Though none of this is connected with MOIL it is a sign of the times.Meanwhile, companies such as Madagascar Oil (LSE: MOIL) continue to struggle with a declining oil price. Although Chinese trade surplus data released today was better than expected and has boosted the price of oil, it seems likely that the price of black gold will come under increasing pressure as the US dollar appreciates in tandem with interest rate rises. As such, the outlook for stocks such as Madagascar Oil could be rather challenging, with financing in particular likely to be more difficult to come by as investors and lenders back more established, profitable businesses. Despite this, Madagascar Oil reported in its half-year results that it has secured a bridge financing facility of up to $21.9m from its four major shareholders. This is designed to fund the company through to the conclusion of the partner process. And with Madagascar Oil reporting a loss of $6.6m for the first half of the year and a cash balance of $1.8m, such financing appears to be rather timely. While the company has the potential to offer long-term growth and the approval in the current financial year from the Malagasy government for Block 3104 Tsimiroro Development Plan is positive news, other oil and gas plays could prove to be better risk/reward opportunities at the present time. As such, it may be prudent to watch, rather than buy, Madagascar Oil right now. Two major Asian commodity investors—Japa Sumitomo said the hit probably won’t be its last. Hiroyuki Inohara, the company’s chief financial officer, said the company had been expecting for months to book losses toward the end of its fiscal year in March, but it had been revising its valuations further downward because the prices of resources like iron and coal keep falling. Despite the write-downs, the project will keep extracting and refining the metal, said Sumitomo’s Mr. Inohara. “Coordinating with other investors, we’ll further reduce costs and wait until the market picks up,” Mr. Inohara said. |
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