Mx Oil Share Discussion Threads

[socktrade1] 12/5/2016 23:30

As more people watch the podcast there will be more buys. No placings and phase 2 funded by cash flow and possibly reserve based funding, plus alot of cash flow soon every investors dream

[socktrade1] 12/5/2016 23:27

No point dwelling in the past, today= no placing, very good flow rates as they said they are confident and surely they know the initial flow rates... This is dirt cheap i have a higher average but topped up anyone buying in now afresh is very lucky and get mean very lucky, hopefull the rise will comtinue and we might break 1p pre results and if lucky 2p post results remember jan? It dropped to 0.50 and within 2 weeks was approaching 2p what i like is volume is very very high over 200m traded testerday and a 100 million today

[socktrade1] 12/5/2016 23:27

No point dwelling in the past, today= no placing, very good flow rates as they said they are confident and surely they know the initial flow rates... This is dirt cheap i have a higher average but topped up anyone buying in now afresh is very lucky and get mean very lucky, hopefull the rise will comtinue and we might break 1p pre results and if lucky 2p post results remember jan? It dropped to 0.50 and within 2 weeks was approaching 2p what i like is volume is very very high over 200m traded testerday and a 100 today

[socktrade1] 12/5/2016 23:22

Ruedolf just correct you, Cornhill is not frangos's employer. He is the founder of cornhill and owns the company

[dlg3] 12/5/2016 22:26

What struck me in the podcast is that SO said the flow rates were available to MXO but they could not release until the operator gives the go ahead......say the bidder would have to come back with a better price...that must mean the flow rates must be very good!!!!

[ruedolf] 12/5/2016 22:19

" ZENGAS 12 May'16 - 11:20


Frangos says in this interview he knew about this asset (AJE) for about 9 years. "Our team has known about this asset for 9 years". Again - if everybody that he names knew about it, why was it sidetracked through Cornhill for a $1m first oil bonus "

MX oil came about in july 2014. If Frangos new about aje for about 9 years it must have being through his association as an office holder in 'Cornhill' .

Over this nine years Cornhill built up the relationship and contacts with the owners of Aje likely Jacka resources. This created goodwill brought about the opportunity for MXO to participate in the deal with Jacka resources.

I don't see any problem with Cornhill getting paid for the Goodwill they created over the years and there is a duty on directors of a company to do a fair deal for its shareholders. This works both ways not just for MXO shareholders but also Cornhill shareholders.

[mostyn] 12/5/2016 17:18

Around £5 million.

[toolsmoker] 12/5/2016 16:45

What's the mkt cap now

[socktrade1] 12/5/2016 15:38

HE ALSO SAID THEY WOULD NOT SELL AJE FOR $18, IF THE BUYERS WANT IT THEY WOULD HAVE TO INCREASE THE OFFER AND THEY HAVE TOLD THEM SO.. WE ARE NOT RELYYING ON THEM ANYWAY IF THE OFFER IS SAY $25M THEN OK IMO IF NOT WE HAVE A PRODCUING ASSET

[socktrade1] 12/5/2016 15:34

NO PLACING NO PLACING NO PLACING NO PLACING NO PLACING CONFIRMED

hxxp://www.sharepickers.com/ PLEASE DO NOT CLICK PLAY STRAIGHTAWAY BUT SCROLL UP TO PODCAST 479... SO HAS JUST CONFIRMED NO PLACING AND SAID THEY ARE VERY CONVINCED WITH PRODUCTION RATES AND ARE CONFIDENT IT WILL MEET THE 11000BOPD TARGETS, ALSO SAID NO MONEY WILL BE RAISED FOR PHASE 2 EITHER.

TIME TO TOP UP BIG TIME

[astorcourt] 12/5/2016 12:30

MX Oil's Chief Executive Officer Stefan Olivier said, "Having completed due diligence together with our partner Geo Estratos we are excited to be submitting tenders for what we believe to be five highly prospective blocks in Mexico. With the results due to be announced later today in Mexico, we look forward to updating the market on the outcome of our submissions."

[zengas] 12/5/2016 11:20

This interview raises more questions -

Cash was £1.52m at 31/12/2014.

At 30/6/2015 they had £800k cash ($1.2m).

Therefore the company was well funded right up until the AJE deal so why then did the same people who run MXO feel the need to rope in Cornhill. It's not to say management were swamped doing things.

MXO announce the AJE deal 2 weeks after those end June 2015 accounts which show us with $1.2m and we raise a further £6m - ie $9m.

Why then was Cornhill involved at all given Frangos working for Cornhill but also MXOs chairman - MXO were not short of money as the accounts to end of June show circa $1.2m so need for Cornhill to stomp up the money to secure the asset as MXO shows more than this cash in their accounts. MXO were able to sort out a massive placing 2 weeks later but yet the same people couldn't see fit to acquire the assets directly into MXO without involving Cornhill.

Also who was the associated investor involved ? No doubt freedom of information will determine this.

But even more amazing is this from our Chairmans own mouth who has since moved on when they said they were now selling AJE -

Frangos says in this interview he knew about this asset (AJE) for about 9 years. "Our team has known about this asset for 9 years". Their "technical advisor has been involved on and off for more than 9 years". "Stefan the CEO has worked with the partners in this asset for 5 or 6 years and our non exec is also very familiar with the partners and infact has done work with them for the last 3-4 years". Frangos - "Im an investor personally in one of of the other partners. This is not something that just came out of the blue and just happened. This was an asset we knew all about, we were very familiar with and the opportunity arose that we could invest in it but we had to move quickly"

(2 minute section at 8 to 10 mins in )

Well if they had to move quickly, why wasn't it paid directly from MXOs own funds to begin with rather than involve Cornhill ?

Again - if everybody that he names knew about it, why was it sidetracked through Cornhill for a $1m first oil bonus as well as their $800k costs for Cornhill and an associated investor - whenever our accounts show $1.2m cash. Also how did the $800k costs for an associated investor and Cornhill stack up to that amount.

[gta5] 12/5/2016 09:32

Ruedolf. I hope you are joking?? lets try this logic:

Imagine that you are paid to run 2 businesses;

1.IT consultancy company. 100% owned by you.
2.Sugar factory. owned by your entire family.

A great opportunity to buy 50 tonnes of sugarcane pop up in the local newspaper.

Now, explain to your family how you go about looking after the Sugar factory business?

Good luck and best regards,

GTA.

(Hint: In case it's not bleeding ovbvious, The answer is OBVIOUSLY not to funnel $1M "finders fee" through your IT consultancy company as a service to the family business for a Job you're already paid to do as the head of the Sugar factory...where I come from this practice has a name and comes with a jail sentence up to 6 years. although this is AIM so all rules are irrelevant)

[andy] 12/5/2016 07:50

Ruedolf 11 May'16 - 23:11 - 2144 of 2144 0 0

" ZENGAS 11 May'16 - 22:55 - 2143 "

I don't see any conflict of interest ... but good connections to the exclusive benefit of mxo investors.

-------

I can only conclude you are connected to Cornhill, to think like that,nobody else seems to!

[ruedolf] 11/5/2016 23:11

" ZENGAS 11 May'16 - 22:55 - 2143 "

I don't see any conflict of interest ... but good connections to the exclusive benefit of mxo investors.

Cornhill are involved in many deals at any given time and occasionally a gem pops up ... cornhill gives a right of first refusal to Oliver and Frangos due to their past connections with the group ... can only be good long term for mxo shareholders.

[zengas] 11/5/2016 22:55

Ruedolf

MXO has had numerous placings along the way and right up to Aje raised £6m at 4.5p per share.

Tell me - Why could the MXO management (who were the same management in Cornhill) not do the deal directly into MXO but yet felt the need to run it through a sideshow giving $1m to Cornhill for exactly what ?.

No need for Cornhill to be involved. Olivier and Frangos worked for MXO. There was no need to involve Cornhill. It's $1m for sweet FA and to me a huge conflict of interest.

[ruedolf] 11/5/2016 22:45

" Andy 11 May'16 - 22:23 - 2141
Ruedolf, That "finder's fee" is shareholder funds!"

The finders fee is an asset .... Cornhill invested up to $800,000 in Jacka before MXO came along .... they worked on the asset ... sold it onto MXO ... no problem ... they deserve to make $1m for their efforts .... MXO will make a lot more on the asset... I don't see any issue! ... just derampers muddying the water ! to get in at a lower price.



" 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. "

[andy] 11/5/2016 22:23

Ruedolf,

That "finder's fee" is shareholder funds!

And you clearly haven't followed the story here if you think like that.

[socktrade1] 11/5/2016 22:20

This will be back to 1p in no time and once confirmed flow rates are out.. we can easily get to 2p

I sense the flow rates are really good from my comms with him, incase anyone says its all lies.. email him.. looking much better i'll wait for the podcast tomorrow

This is gonna blow i will topping up first thing.. at this price its crazy, i was concerned with dilution to be honest but things have been cleared up and i am confident we will rerate here

[ruedolf] 11/5/2016 21:27

Cheap as chips

4m market cap for company with a fully funded producing asset

Revenues of 9.5 million a year

net cashflows of 5 million a year

oil price on the way up ... todays jump alone in oil price ... of 2.50 per barrel jump adds a half a million cashflow on a yearly basis

options to increase production down the line in phase 11 and 111 with the potential to double and triple revenues and cashflow

Cornhill gets a finders fee of $1 m .. so what ? they picked up a gem of an asset .. they deserve it ... we should offer another 1m if they can find another near producing asset

[primatologist] 11/5/2016 15:52

Now that SO has mugged you off properDoes he still hand over 1 million pounds to his mate Andy at Cornhill?