Mx Oil Share Discussion Threads

[walloon3] 22/4/2016 15:17

zengas - you are sop unbelievably dull - ever fancy being interesting?

[ilovetowin] 21/4/2016 21:24

Where is the money scammers?

[andy] 21/4/2016 16:52

Zengas,

I thought the same too on the dilution news, agree with your sentiments here.

Management are doing very well flitting between projects and earning salaries, whilst investors have lost out.

Cornhill are not doing badly themselves!

Where are the punters' yachts?

[zengas] 21/4/2016 15:33

dlg they were quick to give it to earn a $1m first oil success fee.

$1m !!!

Cornhill could provide $800k first time around to immediately be paid it back.
On top of that they earn a $1m first oil production fee.

So for providing $800k to inject it into MXO they immediately get it paid back.
Why run the deal through Cornhill in the first place - why not directly into MXO given it was the same management ?

Yet they 'can't' do it whenever $2m is due in from the buyer the same day - even if it was for a 20% interest payment for 8 weeks - instead they dilute the company 100% instead at an all time low of 0.75p - that's what made me question if the deal was really on in those terms.



This right was acquired from Jacka, by Cornhill Asset Management ("Cornhill") and an associated investor. In consideration for the acquisition of this right to fund the project and therefore the benefit from any future cash flows to MX Oil form OML 113, the Company will make certain conditional payments to Cornhill. The first payment of $800,000 will return the funds invested by Cornhill and an associated investor into Jacka and is conditional on the spudding of the next production well in Aje. A success fee of $1 million is due to Cornhill upon the commercial production of hydrocarbons from the Aje field.

These payments, will comprise a related party transaction by virtue of Andrew Frangos being a director of Cornhill and the Company.

[dlg3] 21/4/2016 14:39

Zengas Cornhill is a business, in business to make money....
with regards to not getting back to investors, can you imagine the amount of investors that want answers, on a day when you get 100,s of email, you tend to pick to answer a few, I know thats what I do... so I can understand you not getting a reply....

Cornhill are not required to give finance to any company MXO is no different....

Dilution or finance when you need cash any will do.......cash is king!!!

If you had been brave enough to double your holding at 0.65p you would have got 40% of your losses back....as I did...

[apfindley] 21/4/2016 13:34

GWMO get ready for a multibagger

[socktrade1] 21/4/2016 12:44

Think i will have just 1 last top up before 1p goes..

[socktrade1] 21/4/2016 12:40

dlg i dont mind... there is substance to the rise.. if it was a wild cat exp company with no good assets then i might have traded it if i saw an opportunity.. as for mxo, i am staying put until i hit my target and this is just the start... once we get news on first oil show/$18m sale/$2m from Mexico/CPRit will rerate big time imo

[dlg3] 21/4/2016 12:38

socktrade1 as I said it will be bumpy.......

[socktrade1] 21/4/2016 12:33

yep a bit of resistance at 1p but we should break it soon

[dlg3] 21/4/2016 12:28

socktrade1 that is right what is not to like!!!! it will be a bumpy ride...

[dlg3] 21/4/2016 12:21

Tie up news Monday or Tuesday, flow rate Thursday or Friday...CPR the week after!!!

[dlg3] 21/4/2016 12:18

I can see this back to 3p to 4p range..

[dlg3] 21/4/2016 12:17

By the way ZENGAS not getting at you just debating what you write...from my point you are not happy because you did not get prior notice of the placing....you along with 1000,s of investors....

[dlg3] 21/4/2016 12:13

So what you lost a few quid, join the rest of us!!! its known as investing, we would all like insider info.....so if you get any let us all know, just beware of the FCA.....

[dlg3] 21/4/2016 12:12

Zengas what makes one investor more important than the rest???? nothing!!!! but what you are saying is you had a large holding and you should have got the heads up!!!! is that not insider trading and against the law....so you ask that Stefan should break the law???

point 2 they would not have raised cash via bank funding, they had no income!!! from memory they had been trying for a while!!! the banks want income these days...

Point 3 you are an investor, the danger of investing is that your investmen can go down as well as up...that is the risk you take.....the only way to beat that is to get inside info, which is illegal, so like the rest of investors you left to second guess.....

personally I see nothing wrong with what has been done!!! the alternative would be to liquidate the company!!!! that would have put a smile on your face...not!!!

[dlg3] 21/4/2016 12:05

keya5000 who said anyone was a bad person, I just asked a question of a critic poster, what would he have done in the circumstances???, was just curious to what answers such an informed poster had!!!!

Maybe you could answer for him??? seeing as you are already doing that!!!

[zengas] 21/4/2016 12:01

dlg - It's not a question of what I would do if I was in his shoes.

For starters if he has a significant investor onboard then he should communicate as I expect any CEO to do. There is nothing wrong with the AJE asset. I have always been keen on it long before MXO got involved. I see upside from here but the company imo was unnecessarily diluted for my reasons stated. If they sell AJE for the figure stated (in just 9 months of having it) it is only breakeven for what was spent and for it to be paid over time in the deal outlined - therefore to me it was pointless for MXO to get involved with it only to break even - but that does not allow for all the dilution if they had sat on what they were chasing in Mexico as their original game plan, been leaner and less dilutive. Ok for new shareholders as Keya says but the recent ones from last year have suffered through poor management decisions imo and it's hard to give any trust for what they might do in the future if they have any more 'u turns' on their assets as they have had to date.

[keya5000] 21/4/2016 11:53

dlg,

Zengas is not one of the bad guys!

Likely he invested here at a different point of the curve and did so on the expectation of different events that unfolded thereafter.

On that basis he's got reservations and issues with the BOD.

However from a value perspective and an investment entry point the likes of me and you are in a different position.

[dlg3] 21/4/2016 11:39

ZENGAS hope you got all you wanted as cheep as you wanted.....

[dlg3] 21/4/2016 11:25

ZENGAS you still not answered my question, what would you have done????

[dlg3] 21/4/2016 11:22

News is indeed on its way!!!!

[dlg3] 21/4/2016 11:17

The king of placing,s DL....has a saying that is very true .... "you can not build a company on bottle tops"