Share Name Share Symbol Market Type Share ISIN Share Description
MX Oil Plc LSE:MXO London Ordinary Share GB00BKRV5441 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.025p -2.22% 1.10p 1.05p 1.15p 1.125p 1.10p 1.125p 515,325.00 14:59:32
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -2.9 -1.0 - 12.55

MX Oil Share Discussion Threads

Showing 2451 to 2473 of 2475 messages
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pmsl richieboy timber!
Interest seems to be picking up at the margin here. First smoke signals from experience of a decent move.
I hear its boooom time tomorrow ;-)
In the absence of any info from MXO the following is helpful Operational update NIGERIA OML 113 Aje field: YFP (Operator), Panoro Energy (12.1913% entitlement to revenue stream, 16.255% paying interest and 6.5% participating interest) Production from the Aje field continued during the quarter from the Aje-4 well without gas lift and with limited contribution from the Aje-5 well. A lifting of Aje crude was completed on December 31, 2016; Panoro’s net entitlement from this lifting was 36,450 barrels of oil net of Production Royalty Oil. The performance of the Aje field continued to be limited by the Aje-5 well, which requires subsurface intervention to remedy a mechanical problem. Necessary repairs to the gas lift system were made, and the gas lift system has been operational with minimal disruptions since January 2017. On average, the Aje field produced approximately 355 barrels of oil per day net to Panoro during the quarter. Material reductions in operating costs per barrel were achieved in the quarter despite lower production rates. Operations to repair the Aje-5 well commenced in February 2017. A rig was contracted to re-enter the well and remedy the downhole problem via a cement squeeze. If that operation proves unsuccessful, the rig will drill a side-track from Aje-5 to a higher point on the Aje structure. One further well, Aje-6, is planned to be drilled by the rig to the east of Aje-4. Panoro does not currently support the drilling of this well, and this is the subject of our legal dispute with the other partners in the JV. Following the drilling of Aje-6, an additional optional well, Aje-7, may be drilled to the west of Aje-5. The Aje gas development project, which involves production and sale of gas and liquids from the 163 mmboe Turonian reservoir, is moving through concept definition towards a Field Development Plan. We expect to submit detailed plans for the project for regulatory approval during the first half of 2017.
2seabass just to point out the jacka / PR oil stake (now MXO's) is 5%!
Not bad, but i didn't realise we had to post the requests here. Would have done it sooner had i known. The Holding RNS' that are coming out soon should be interesting.
That do you..?
So the oil has been offloaded by now and the pump possibly fixed. Anyone else think that is newsworthy? Come on SO - we're falling asleep here.
This ifo may be of interest albeit a few years old. MXO has 5% stake in what looks to a gross of 380M bo. That's about 18M barrels. The 2.667% was sold for £16M in 2011 Aje Field, Nigeria The Aje gas and condensate field lies in Oil Mining Lease 113 (OML 113) in the Benin Basin, approximately 24km offshore of western Nigeria. The water depth in the region is 3,000ft. Yinka Folawiyo Petroleum (YFP) is the operator of OML 113 with a 60% interest. The remaining 40% is owned by a joint venture comprising Chevron Nigeria Deepwater, Vitol Exploration Nigeria, Panoro Energy, Energy Equity Resources and Jacka Resources. Chevron was appointed as the technical adviser to the operator for the project, and was also assigned the responsibility to prepare a development plan for the field. Providence Resources Oil and Gas earlier held a 2.667% interest in the OML 113. It was sold to Jacka in December 2011. During the same period, Chevron announced its plans to sell its interest to Energy Equity Resources. The field came on stream in May 2016 and is expected to achieve a plateau production ranging between 50,000 and 80,000 barrels of oil equivalent (boe) a day. Location The OML 113 licence covers an area of 960km² and contains several prospects, including the Jubilee and Tweneboa fields. OML 113 was originally known as Oil Operating License 309 and was awarded to YFP in 1991 to encourage the growth of Nigerian oil industry. Following the successful discovery of the Aje field, the licence was converted to OML 113 in 1998 with a term of 20 years. Discovery Aje was discovered by the Aje-1 well in 1996. The well encountered oil and gas over three zones of the Cretaceous Turonian age. It flowed at the rate of 60.2 million standard cubic feet of gas a day (mmscfd), 1,729 barrels of condensate a day (bcpd) and 2,389 barrels of oil a day (bpd). Drilling and appraisal "Providence Resources Oil and Gas earlier held a 2.667% interest in the OML 113. It was sold to Jacka in December 2011." In 1997, the Aje-2 appraisal well was drilled 1km east of the Aje-1 well. It confirmed the presence of oil and gas in the Turonian reservoir as discovered by the Aje-1 well and encountered a deeper separate additional zone of the Cenomanian formation. A third well, Aje-3, was drilled by Transocean's Sedco 709 semi-submersible rig in 2005. Although the reservoir quality was not optimum, the well encountered an oil and gas bearing column within the Turonian and Cenomanian reservoirs. In the first quarter of 2008, another appraisal well called Aje-4 was drilled by the Transocean Deepwater Pathfinder drill-ship to carry out a complete appraisal of the field. Aje-4 well was drilled to assess the extent of the field and identify additional exploration targets. The well encountered hydrocarbon reserves in the main Turonian reservoir. Drilling of the Aje-4 well confirmed the field contains a laterally extensive reservoir structure. The field was declared a commercial prospect in February 2009. Appraisal of the field was based on 915km of 2D seismic data, 700km² of 3D seismic data and an electromagnetic survey. Geology and reserves Aje is primarily a gas condensate field formed in a four-way dip closure trap. It contains gas and oil in the Turonian and Cenomanian reservoirs and an additional gas layer of the Albian formation. Gross contingent resources of the Aje field are estimated at 380 million boe. Of this 28% is oil / condensate, 20% is LPG and 52% is gas. Field development The field was developed as a subsea tie-back to a floating, production, storage and offloading (FPSO) vessel. "The Aje gas and condensate field lies in Oil Mining Lease 113 (OML 113) in the Benin Basin." The Aje-1, Aje-2 and Aje-4 wells were developed as producers. The production wells are connected to subsea wellheads and associated flowlines and manifolds in water depths of 320ft. The flowlines are connected to the FPSO through risers. Produced hydrocarbons are processed by the FPSO and exported through the West African Gas pipeline or through a direct pipeline to connect to the Lagos gas infrastructure.
o yes another move caught by the master gl
nice action gl
So, why wasn't the above RNS'd then...?
Oslo 5th Dec 2016 The Company, through its fully owned subsidiary, Pan Petroleum Aje Limited (“PPAL”), holds 6.502% participation interest in OML 113 The Court order has been received whereby PPAL has been granted an interim injunction. The other joint venture partners are now temporarily restricted from taking any action under the default provisions of the JOA ==================================================== Oslo, 6 December 2016: Panoro Energy ASA (“Panoro” or the “Company” with OSE ticker “PEN”) provides an update on the OML 113 dispute with its joint venture partners. The Company, through its fully owned subsidiary, Pan Petroleum Aje Limited (“PPAL”), holds 6.502% participation interest in OML 113. Further to the announcement made by Panoro on 5 December 2016 in respect of an interim injunction granted to PPAL against its joint venture partners by the English High Court, yesterday PPAL formally commenced dispute resolution proceedings with the OML 113 joint venture partners by filing a request for arbitration with the Secretariat of the International Chamber of Commerce. The dispute concerns the purported passing of resolutions by the joint venture partners with respect to a proposed new well to be drilled at Aje in OML 113, and a related cash call. While Panoro has the financial ability to fully meet the amount of this disputed cash call, the Company believes the drilling of any new well is pre-mature at this stage. Panoro is also of a firm view that the decision to incur such additional capital expenditures at Aje unambiguously requires unanimous consent of joint venture partners, which as such has not been taken in accordance with the Joint Operating Agreement procedure. Panoro will seek to recover all losses, costs, expenses, compensation and damages in law and equity caused directly or indirectly by the joint venture partners’ breach of their contractual and equitable obligations. Panoro will also continue to take all necessary action to retain its equity participation in OML 113 and to preserve shareholder value.
So what are the chances of an oil pickup before Christmas? If we are averaging 7k bopd then I think we should. 5k bopd average will take another 2 or 3 weeks
Pumpers buying in the background.They will likely pump this overnight and hope to enjoy a rise tomorrow which they will offload into.
As long as we can get another oil shipment before Mexico is mentioned again, then I think we should stay at least at this level. Geo Strata are now partnering with a Norwegian company and likened MXO to a "bad girlfriend". Still not sure who's research was responsible for the bids that were put in, but that will definitely be looked at by investors if are going to try to go it ourselves.
Prob be back down to 1p now everyone was expecting big things from that rns
Wow, $1.2M from the oil sale and no comments at all here. Traders are taking profits, but with all those Chinese buys, I think most LTH may de-risk a little at most and hold on to see where this is going.
Whats brewing here with Chen stakebuilding and directors increasing their shares?
More stakebuilding with X Chen over 8% now. Added 9m shares.
More Chinese buying with the 500k blocks perhaps.
Well I think todays RNS's helped. Stake upping by two chineses investors. Are they related I wonder, seeing as they each have almost identical stakes 6.84% and 6.83% or do I have double vision...duh! Charts don't lie!
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P:43 V: D:20170429 03:35:51