Mx Oil Share Discussion Threads

[upsondowns] 03/5/2019 11:35

Getting ready for next move up.. intra day bull flag

[ihavenoclue] 03/5/2019 11:31

"He did not comment on whether heavyweight partners may be sought to accelerate the pace of growth, but said his ambition is to build MX Oil into a billion-dollar energy business over the coming years."

[ihavenoclue] 03/5/2019 11:30

Jungmana3 May '19 - 08:22 - 4295 of 4353
0 1 0
Get out if you are in good profit. Can see this closing about 0.2p.
Big seller in the background imo.

[markstevenkirby80] 03/5/2019 11:29

You can keep your hat on

[jamdan1] 03/5/2019 11:29

Wants to turn this into a billion dollar company ! Wow

[topranking] 03/5/2019 11:28

Excellent news, confidence booster now being reflected in the sp

[keya5000] 03/5/2019 11:25

UAE equity wakes up to African opportunities

Dubai's Sheikh Ahmed takes a stake in Nigeria's MX Oil with plans to 'personally steer the business'

Barry Morgan
Paris
2 May 2019 22:00 GMT

A surprise move by Dubai’s Sheikh Ahmed bin Dalmook Juma al-Maktoum last month to acquire a personal stake in Nigeria-focused junior MX Oil has triggered hopes that Persian Gulf players may help plug a funding gap in African energy infrastructure projects.

In an exclusive interview with Upstream, Sheikh Ahmed insisted the decision to take a 29.86% equity share in MX — a partner in the producing Aje field off Nigeria — was his first investment in a public company and that he "currently has no intention to invest in another".

"I will certainly be taking on a very active role within the business. It may take another month but I intend to join the board as an active chairman because I have a desire to personally steer the business," he said.

"I have very clear ideas as to how significant value can be grown within the business,” added Sheikh Ahmed.

He did not comment on whether heavyweight partners may be sought to accelerate the pace of growth, but said his ambition is to build MX Oil into a billion-dollar energy business over the coming years.

Currently, London-listed MX’s sole asset is Aje, which lies in OML-113 in the long-neglected Dahomey basin, where its partners are New Age, Energy Equity Resources, Panoro and operator Yinka Folawiyo.

But MX chief executive Stefan Olivier said Sheikh Ahmed’s private investment will add great value and yield fresh partner opportunities.

With MX Oil, Sheikh Ahmed said his role will be “to focus on business development and on growing value, building on his relationships with the many heads of state who are keen to work with us to help them develop their natural resources.”

“MX has had its problems accessing sufficient funds but I don’t believe this will be a problem in future. It’s an ideal vehicle for taking advantage of opportunities, primarily in Africa.”

Pressed on his preference in terms of asset acquisition, Sheikh Ahmed said he will “look at production and near-production assets, but we are not afraid of exploration as long as the portfolio is balanced”.

“We won’t sit on our hands as a single-asset company but will rather go after company-making projects, add value and get them into production — we will do our technical work before taking on any project, leveraging relationships we have with international oil companies who may wish to partner with us on larger projects.”

Sheikh Ahmed last month visited Ondo State Governor Rotimi Akeredolu in Nigeria, signing a memorandum of understanding for a deep-sea port development.

“We are currently evaluating several opportunities in West Africa’s oil and gas sector and will announce the projects in the near future once progress reaches a certain stage of maturity,” he said.

Sheikh Ahmed is the founder and chairman of Africa Middle East Resources Investments (Ameri Group), which is building a portfolio of power plant and energy infrastructure projects — including gas-to-wire schemes — and has in the past year been traversing the African continent in search of strategic opportunities.

Ameri is exploring investments in both the Democratic Republic of Congo and Congo-Brazzaville, Equatorial Guinea and Gabon, and this year entered into partnership with Ghana to install an emergency power plant on a build, own, operate and transfer basis in the Takoradi oil hub.

But the prince has also chosen to operate initiatives through his private office, meeting directly with heads of state including Nigerian President Muhammadu Buhari, Liberian President George Weah and Puntland President Said Abdullahi Deni.

In addition, he recently attended the inauguration of re-elected Senegal President Macky Sall.

His initiatives reflect a burgeoning interest in Africa's oil and power sectors by Persian Gulf states, particularly the United Arab Emirates.

The Dubai Multi Commodities Centre free trade zone has lately been growing in relevance for start-ups targeting African energy investments, while Oslo-listed African Petroleum surprised investors last month by merging with PetroNor E&P — half-owned by an Abu Dhabi vehicle linked to the Emirates’ royal family.

Sheikh Ahmed’s MX Oil deal has raised hopes that more private equity from the UAE might now be tempted into Africa’s cash-strapped upstream sector.

[ny boy] 03/5/2019 11:21

PWhite, always turns up on threads posting huge negativity and fear, I guess it worked, ouch all those who got their shares lifted in the low 0.20’s 😟 doh!

[computerclinic] 03/5/2019 11:20

Let's break 0.35 resistance level first

[ny boy] 03/5/2019 11:19

Let’s hope the Sheikh is for real, we have had plenty of fake Sheikhs in London over the years, staying at 5 star hotels, then disappearing before a huge bill was presented by an eager doe eyed GM 😂 etc

[andyalbiston71] 03/5/2019 11:16

Oooooooh yes, .5 close minimum.

[tracy_moore] 03/5/2019 11:15

Any sign of the Guru PSwhite73 , he was advising folk to get out yesterday ?

[computerclinic] 03/5/2019 11:14

Boom boom time, top it up before its too late

[timw3] 03/5/2019 11:13

#MXO billionaire sheik on record as saying he will be an active chairman!!

1p next week here?

[billthebank] 03/5/2019 11:12

Only cost me £100 Idiot though!!

[billthebank] 03/5/2019 11:09

Sold in error!!!!!!!!!

[topranking] 03/5/2019 11:07

Profits from 7dig are being ploughed in here

[ny boy] 03/5/2019 11:06

Broken through 0.3 resistance, next target 0.43, then back up to test high just under 0.5, could happen today if investors are feeling confident holding over the holiday weekend.

[timw3] 03/5/2019 11:05

Just out also... this is heading for 1p levels

David Burton
‏

@DavidBurton1971
Following Following @DavidBurton1971
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Sheikh Ahmed has taken a 29.86% equity share in #MXO and is his first investment in a public company...

"I will certainly be taking on a very active role within the business. It may take another month but I intend to join the board as an active chairman”

[thaodoan1] 03/5/2019 11:04

Up to 100%

[computerclinic] 03/5/2019 11:04

Strong buying on l2.