Max Petroleum Share Discussion Threads

[ewads] 23/4/2014 16:38

What a waste of RNS today.

[hondo7] 23/4/2014 15:01

HD You should have warned your followers when you were selling out and why.

[jotoha2] 23/4/2014 11:12

Hidden and boboknow all , this has been a traders stock for years , get real and try to trade it like the rest of us , easy money both ways!!

[hiddendepths] 23/4/2014 09:25

hondo7 - flogging it as having great potential UNTIL the present management took over about five or six years ago. I sold all my shares in tranches averaging around 80p immediately thereafter. Been fundamentally negative ever since as their initial actions looked crazy to me and nothing they've done has made me change my mind.

bones - it's an appraisal well on a small find. Hardly worth a tick-up even at this level.

[bones698] 23/4/2014 07:14

Well they hit just find it strange no flow rates mentioned in the rns or even the previous wells, still must be decent news . Thought about a quick trade but the lack of flow rate has concerned me as it could suddenly tail off and catch a few out . Gl long termers certainly due some good news . Reserves are very low in the last cpr hence the low market valuation and dropping share price ill give it a miss

[bobobob5] 23/4/2014 00:42

hiddendepths: yes, it's certainly very strange. The lack of changes to the board surely tells us something.

hondo: the portfolio contained close to *six billion recoverable barrels* of leads and prospects, in a diversified portfolio which was underpinned by legacy D, new 2D and *very extensive 3D* seismic. What analyst would turn their back on that?! But when things start to go wrong...

[hondo7] 22/4/2014 19:26

Weren't you flogging this stock as a great investment a few years ago? If we knew then what we know now! Weren't the present management in charge then? When did you fall out of love?

[hiddendepths] 22/4/2014 08:20

bob - I just don't understand what they're trying to achieve. Their strategy seems non-existent. No exploration acreage any more, no real efforts to add value, the only deep well unfinished and still unfunded. Even when they were exploring, it all seemed to be a rush job right at the end of the contract, with little time to process feedback from the program to develop the targets. The appraisal process has been little short of a disaster, with far too much effort and money sunk into over-hyped small finds. The company has nearly gone belly up twice now, and it remains mired in debt while shareholders have been diluted out of sight.

It all seems very strange. Is management really SO awful, or has there been some weird deliberate destruction of shareholder value? Only speculation but management seems to have been pretty much absent for some years. Given the undoubted potential of the acreage, I think it's very sad how badly it's been run.

All IMHO. of course.

[bobobob5] 17/4/2014 18:48

hiddendepths: yes, the Houston office was where the G&G was done. Closing an office will potentially involve costs, assuming there are actually people working there. The board seems miles too big, to me...chop it back. But they won't do that, now will they lol

[christh] 15/4/2014 06:48

hiddendepths,

Pathetic, yes, you are Pathetic!

what is your role here?

you said you are not a holder.
Why are you blubbering on for the last 5 years or more then?

You are shorting the stock for the last 5 years or maybe more.
you definetely obssesed with MXP and probably see it in your sleep.

Yet, you are slanderous about the company.

[hiddendepths] 14/4/2014 08:08

Ooh look at the share price. So no apology then to anyone who believed your lies and distortions? You can't even admit you have been SO wrong.

Pathetic!

btw you aren't suggesting I made that comment above, are you? If you look properly, you will see it was addressed to me, not made by me. Anyway, there's no point telling the CEO anything about the mess they have made of Max. He already knows! And, for what it's worth, I did tell him some time ago anyway, face to face. I seem to remember him saying something about in retrospect they had made some unfortunate decisions.

[christh] 14/4/2014 07:50

hiddendepths: "How to make a pig's ear out of a silk purse", the new best-seller by the directors of Max Petroleum.

How about you ring the ceo and tell him that?

[hiddendepths] 10/4/2014 09:27

christh - how about an apology? You have been proved consistently and spectacularly wrong. And you have been abusing intelligent and well-informed posters who've been spot on with this one.

Look back over this thread and your ridiculously over-optimistic posts over the years, man up and admit your analysis was faulty. Then maybe you can learn from this debacle and have more success next time around.

[hiddendepths] 04/4/2014 14:38

IMO, it would have been more useful for costs and positive for shareholders if they'd got rid of Holland, Jeffs and Young instead.

Interesting that they're closing the Houston office. If you're around, bob, what did they do there? I seem to remember it's where they did their modelling of prospects and reservoirs. Maybe the fields are now so delineated that there's no mileage in that? Could be that (as I guessed a couple of years ago) it's about to turn into a cash cow. If it becomes a yield play, it might be interesting. However, it will take a couple of years or more to acquire such a status as there's a pile of debt to pay down first.

[bobobob5] 28/3/2014 01:29

hiddendepths: you don't mean to say that he's actually being *paid*?

[bobobob5] 28/3/2014 01:28

You surely don't think I have not spoken to these characters in the past? I nearly bought some 6% of the company at one point. They are, regrettably, beyond any help that I can give them at this late stage in the company's astonishing slide from Hero to Zero.

[christh] 27/3/2014 08:53

bobobob5
25 Mar'14 - 11:17 - 31187 of 31188 0 0



hiddendepths: "How to make a pig's ear out of a silk purse", the new best-seller by the directors of Max Petroleum.

How about you ring the ceo and tell him that?

Winge...winge but why don't you speak to them and report back?

at least we'll know where we stand and fight on!

[hiddendepths] 26/3/2014 08:23

bob - how about a little rant about Mike Young's salary? ;-)

[bobobob5] 25/3/2014 11:17

hiddendepths: "How to make a pig's ear out of a silk purse", the new best-seller by the directors of Max Petroleum.