Max Petroleum Share Discussion Threads

[richgit] 04/10/2014 11:17

17sammy

It`s going to be interesting as to how they will manipulate Oil prices,and whilst I am no Oil expert, there are many that profess to be.........

Every $Dollar down puts pressures on Shale and the US certainly does not want too much pressure on the Shale Oil game.

The West/Fed are certainly proving (whilst their ability lasts)to be able to manipulate virtually "anything" controlled by - overwhelming paper Contract huge leverage for any targets that suit the agenda to keep the propaganda going
that- all is well-(as everything crumbles in debt).

We certainly know that the Vampires were fined (lol) for manipulating Oil up to $150 pbl so like the Fed`s manipulated so called employment figures and the hidden fact there is no true wages/earnings growth whatsoever in an economy that is 70% Consumers......they can certainly play around with Oil for now.

We also can assume the US will eventually feel the pain of this nonsense high
$Dollar....so many games are on the horizons as the US runs out of overdraft.

The one reality is- the US cannot afford to raise interest rates,and that is surely total nonsense propaganda,in much the same way at the moment that the ECB
cannot legally do massive QE, yet that propaganda is almost daily.




Asjylyn Loder Feb 27, 2014 12:00 AM GMT



The path toward U.S. energy independence, made possible by a boom in shale oil, will be much harder than it seems.

Just a few of the roadblocks: Independent producers will spend $1.50 drilling this year for every dollar they get back. Shale output drops faster than production from conventional methods. It will take 2,500 new wells a year just to sustain output of 1 million barrels a day in North Dakota’s Bakken shale, according to the Paris-based International Energy Agency. Iraq could do the same with 60.

Consider Sanchez Energy Corp. The Houston-based company plans to spend as much as $600 million this year, almost double its estimated 2013 revenue, on the Eagle Ford shale formation in south Texas, which along with North Dakota is one of the hotbeds of a drilling frenzy that’s pushed U.S. crude output to the highest in almost 26 years. Its Sante North 1H oil well pumped five times more water than crude, Sanchez Energy said in a Feb. 17 regulatory filing. Shares sank 7 percent.

[7767] 03/10/2014 16:59

I bought at 2 and below for a punt, I thought if they are producing oil they "shouldn't" go bust and maybe there will be a merger or takeover and i could make a small profit (i hope).

[hiddendepths] 03/10/2014 14:11

Hi 7767 - no comments because no-one knows what's going on! The institutions have an agenda for sure - but they're playing their cards close to their chests.

Unlike 12bn, I don't generally post unlike I've got something to say and most holders here are the same, which is why the board is so thin. Mind you, there aren't many left. Most have been burned off by the management's wilful share price destruction of recent years. A few, like richgit, have stayed constant, looking at the very real value in the assets and the acreage and retaining a touching faith that the US board will get a grip at some point. Personally, I'm a lot more positive now they're being ousted because the assets really are quite impressive and someone ought to be able to put them to work to the benefit of shareholders.

[richgit] 01/10/2014 11:17

HD

This is a Company still supposedly churning out 4000 bopd,and we assume another
FFD on its way-currently valued at circa £80+ million including current debt.

The only obvious/logical assumption is the 5pers want to see a far higher share price.

Meanwhile the US and West play around with Oil prices, like so much else.

If Oil breaks out a mere fraction of what Silver & Gold will, at some point, then... ?

One thing is for sure, though the timing is elusive, that the $Dollar`s strength
merely based on being perceived as the best of all the Major Paper currency trash cannot last infinitively - when so many know the US is as bust as France,Italy,Greece etc etc.

[hiddendepths] 01/10/2014 08:23

Thanks richgit.

It's getting rather interesting, isn't it?

[richgit] 30/9/2014 18:53

2 Directors - OUT

Share Options - OUT

Resolution 8 - OUT



NOTICE OF AN ANNUAL GENERAL MEETING
Notice is given that the Annual General Meeting of the Company will be held at the Lansdowne Club, 9 Fitzmaurice Place, Mayfair, London, W1J 5JD on Tuesday 30 September 2014 at 11.00 a.m. (London time) to consider and, if thought fit, pass the following resolutions, of which resolutions 1 to 7 will be proposed as ordinary resolutions, and resolution 8 will be proposed as a special resolution:
ORDINARY BUSINESS
1. To receive and adopt the Company’s financial statements for the financial period ended 31 March 2014 and the report of the Directors and auditors therein.
2. To re-appoint Mr. Robert B. Holland III, who retires by rotation, as a director.
3. To re-appoint Mr. David R. Belding, who retires by rotation, as a director.
4. To re-appoint PricewaterhouseCoopers LLP as auditors of the Company until the conclusion of the next general meeting at which accounts are laid before the Company.
5. To authorise the Directors to determine the auditors’ remuneration.
SPECIAL BUSINESS
6. To ratify the share option awards made on 27 May 2014 to non-executive directors, being, 3,000,000 options to Maksut Narikbayev, 3,000,000 options to David Belding and 3,000,000 options to Malcolm Butler, each exercisable at an exercise price of 1.2p per ordinary share, of which one third are exercisable in equal amounts on the first, second and third anniversaries of the date of grant, with a term of four years such that any unexercised options will expire on 27 May 2018.
7. That:
(a) the Directors be and are hereby authorised generally and unconditionally to exercise all the powers of the Company to allot shares in the Company and/or to grant rights to subscribe for or to convert any security into shares in the Company (together, “Relevant Securities”) up to a maximum aggregate nominal value of £21,753.05 at any time or times before the conclusion of the next Annual General Meeting of the Company after the passing of this resolution (unless previously revoked or varied by the Company in general meeting), and such authority shall extend to the making before such expiry of an offer or an agreement which would or might require Relevant Securities to be allotted or, as the case may be, granted after such expiry and the Directors may allot or, as the case may be, grant Relevant Securities in pursuance of such offer or agreement as if the authority conferred hereby had not expired;
and further,
(b) the Directors be and are hereby authorised generally and unconditionally to exercise all powers of the Company to allot Relevant Securities in connection with a rights issue in favour of ordinary shareholders where the Relevant Securities respectively attributable to the interests of all ordinary shareholders are proportionate (as nearly as may be) to the respective numbers of ordinary shares held by them up to an aggregate nominal value of £21,753.05 provided that this authority shall expire on the date of the next Annual General Meeting of the Company after the passing of this resolution (unless previously revoked or varied by the Company in general meeting) save that the Company may before such expiry make an offer or agreement which would or might require Relevant Securities to be allotted or, as the case may be, granted after such expiry and the Directors may allot or, as the case may be, grant Relevant Securities in pursuance of such offer or agreement as if the authority conferred hereby had not expired.
8. That, the Directors be and are hereby empowered pursuant to section 570 of the Companies Act 2006 (the “Act”) to allot equity securities (as defined in section 560 of the Act) for cash pursuant to the authority conferred by resolution 7 as if section 561 of the Act did not apply to such allotment, provided that this power shall be limited to:
(a) the allotment of equity securities in connection with a rights issue, open offer or any other pre-emptive offer in favour of holders of ordinary shares or other equity securities where the equity securities respectively attributable to the interests of such persons on a fixed record date are proportionate (as nearly as may be) to the respective numbers of equity securities held by them or are otherwise allotted in accordance with the rights attaching to such equity securities (subject in either case to such exclusions or other arrangements as the Directors may deem necessary or expedient to deal with fractional entitlements, legal or practical problems arising in any overseas territory, the requirements of any regulatory body or stock exchange, or any other matter whatsoever); and
(b) the allotment (otherwise than pursuant to sub-paragraph (a) above) of equity securities up to an aggregate nominal value of £21,753.05 (10 per cent. of the issued ordinary share capital),
and the power conferred hereby shall expire at the conclusion of the next Annual General Meeting of the Company (unless previously revoked or varied by the Company in general meeting), save that the Company may before such expiry make any offer or agreement which would or might require equity securities to be allotted or, as the case may be, granted after such expiry and the Directors may allot or, as the case may be, grant equity securities in pursuance of such offer or agreement as if the power conferred hereby had not expired.
NOTES TO THE NOTICE OF ANNUAL GENERAL MEETING, INCLUDING EXPLANATORY NOTES TO THE FORM OF PROXY
1. Resolutions 1–7 are ordinary resolutions. For these resolutions to be passed, a simple majority of the votes cast at the Company’s Annual General Meeting must be in favour of the resolution.

Resolution 8 is a special resolution. For this resolution to be passed, at least three-quarters of the votes cast at the meeting must be in favour of the resolution.

[7767] 30/9/2014 18:12

The vote for the subscription as I understand it is in October so no one is resigning yet!!

[hondo7] 30/9/2014 17:57

I will be very surprised if the vote on the AGR deal is submitted to shareholders. Something is going on with the institutions and the AGM vote is just the beginning of a revolution. I think the ii's have had enough and are planning to do something to recover the value of their investments. We will know soon. All in my opinion, of course.

[grahamburn] 30/9/2014 17:24

So far as I can see, these two resignations were solely due to the two individuals not being re-elected at the AGM. This is not connected to their threat to resign if the AGR is not voted through because as noted in 31666 that vote isn't until sometime in October.

[hondo7] 30/9/2014 16:09

My understanding is that the rest of the Board have not resigned. I would think that will follow soon--hopefully.

[hondo7] 30/9/2014 16:07

Question? Does Holland keep his boatload of options now that he is no longer a director. He is still cCEO. He hasn't resigned that position yet.

[hiddendepths] 30/9/2014 15:47

Curiouser and curiouser! I have no idea what's going on here. Looks like a shareholder revolt engineered by the big holders. I imagine they have plans which they think will benefit shareholders more than what I thought was a rather attractive proposition to get a big Kazakh partner.

Hopefully someone will tell us what happens next at some point. I'm rather optimistic.

Goodbye and good riddance to the board! They destroyed shareholder value comprehensively in recent years.

[flyingbull] 30/9/2014 15:12

The October oil stock challenge is still on. Deadline for entries is midnight tonight! Good luck. fb

[7767] 30/9/2014 15:04

The meeting to decide the subscription by AGR is not till some time in October

[jotoha2] 30/9/2014 14:22

Directors all to resign , and major holders will organise some new faces , all sounds very promising for someone!

[ricardo125] 30/9/2014 13:48

Anybody know what this means for MXP!?

[donpatrol] 22/9/2014 13:36

Why is drilling Nur1 so important, surly its going to cost another $25million to finish. Would the shallow drills on their own be a sustainable business?It seems to me that it would be another case of boom or bust to go ahead with Nur1

[7767] 19/9/2014 16:29

Cant understand why Ironside are selling their holding in Max from their fund at such a low value,when the subscription and stronger position of Max (if it goes through)should strengthen the share price in time???

[edgein] 18/9/2014 16:00

HD,

AEY did a similar thing recently with the sale of Causeway in April '14, they threatened that if the sale didn't go through things would get very serious. They did it to prevent a share holder revolt or those over emotional types from doing something silly. Management here are encouraging folks to do the right thing and vote for the $63m in Kazakh cash to be injected into the company. That combined with the current cash flow will put them in a very healthy position to complete NUR-1 and bring the remaining fields up to FFD and get healtier export netbacks from the fields not qualifying yet. I think its the best way forward for MXP, the open process at present is just a way to convince folks that they're open to offers if they get a better deal than the current cash injection. Imo the large local investor is every bit as good as the cash itself as you mention the locals being a major holder will be able to get things done on a local government level. MXP would effectively be a Kazakh company rather than a bunch of meddling foreigners in the FSU.

Regards,
Ed.

[hiddendepths] 17/9/2014 17:40

ifyes - looks right to me. Look what happened to Roxi after they got a big Kazakh backer. Wells get drilled, value gets added. Max's debt has long worried me and it would be great to see that expunged.

whoppy - I imagine the extension would be included in the FFD - certainly if the company is majority Kazakh owned.

It is bloody typical of management to do the RNS at 4.15pm. Most people just don't notice them that late in the day and the next morning there's no 'A'. And the heavy-handed threat is very unprofessional imo.

[ifyes] 17/9/2014 16:37

what's going on with mxp ,I'm adding more share because good low price ... I don't know if I'm doing the right thing.

[richgit] 17/9/2014 11:01

I`d be staggered if the 5pers vote against,so much so I would argue there
is no chance.

AGR I surely their best hope,so I now make this a longer term hold as the carrots are there- not least that We can still buy in lower than AGR`s 1.64p,
and consider that AGR are not a Charity vehicle.

As the Saudis are now using much more of their own Oil and their fall out with
the US,I somewhat doubt they will allow Obama to use Oil prices as some manipulative tool just to mess things up for Russia`s income.

We know that meddling.manipulating and using commodities as Political tools or silent methods of Financial War can bite back horrendously down the line if they go wrong.
As was pointed out - the US surge in shale etc only represents circa 2% of World demand for Oil- so meddle too much and the consequence of the price paid further down the line could be horrendous,if investments in Oil decline as consequence of any false and foolish agendas and Manipulations.

I refer back to the quote " The best thing to avoid future exploding Oil prices-is High Oil prices- now !!"


The Carrots.........



"The Subscription should enable the Group to fund its planned capital programme to develop its post-salt fields and maximise reserves and production. In addition, Max Petroleum will be in a strengthened position to attract financial or industry partners to help finish its pre-salt NUR-1 well and to secure an extension of the exploration period of its Blocks A&E Licence in western Kazakhstan to enable it to have time to finish drilling NUR-1 and, if it is successful, the Kurzhem well. The Company will also be able to consider investment in other projects in Kazakhstan and across Central Asia that complement its existing activities."


IMHO