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 Shares Traded Last Trade
  +0.00p +0.00% 0.05p 4,642,604 00:00:00
Bid Price Offer Price High Price Low Price Open Price
0.04p 0.06p 0.05p 0.05p 0.05p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.73 -3.44 -0.24 1.4

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Date Time Title Posts
21/3/201914:37MX OIL2,572

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MX Oil (MXO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2019-03-22 13:22:470.05459,559250.00O
2019-03-22 12:34:570.05196,690107.00O
2019-03-22 12:07:340.051,000,000519.80O
2019-03-22 11:40:580.0573,88438.40O
2019-03-22 09:56:240.05666,158345.07O
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MX Oil Daily Update: MX Oil Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker MXO. The last closing price for MX Oil was 0.05p.
MX Oil Plc has a 4 week average price of 0.05p and a 12 week average price of 0.05p.
The 1 year high share price is 0.70p while the 1 year low share price is currently 0.05p.
There are currently 2,771,349,664 shares in issue and the average daily traded volume is 16,612,246 shares. The market capitalisation of MX Oil Plc is £1,385,674.83.
zengas: Absolutely hopeless since inception at creating any value jumping in and out of assets. They sold their entire holding in Mayan last week for up to £200k if they were lucky given the then share price, which today would have been worth north of £550k. Previous company was obliterated in terms of shareholder value.
tromso1: More stakebuilding with X Chen over 8% now. Added 9m shares.
mostyn: I suspect a lot of traders that are currently out will be trying to talk the share price down in order to make a good turn when the next rise comes. For investors it's worth noting that GPDC considered the Aje field was worth $18 million when the price of oil was $20 lower than it is today. That's about double the current market cap. For those that want to keep Aje, MXO are currently making around $20 per barrel at the current price of oil. This equates to about £2.5 million in annual margin over cost (if my cost figure of $31 per barrel is correct). Either way an investor shouldn't have anything to worry about.
bishopawn: ".....given that first oil is now imminent, we are comfortable allowing GPDC a little more time to secure their funding. We appreciate that our shareholders are keen to see progress being made but they should be reassured by our belief that our investment is becoming more valuable the closer we get to commercial oil (RNS 30th March) After reflecting on the phrasing of these few sentences, I have concluded that they may very well contain a clue, viz. that they may be aware of a raised offer from another party, otherwise why should they even refer to their Nigerian Investment in AJE "is becoming more valuable the closer we get to commercial oil." The increased value is irrelevant to the deal with GPDC in that a price has already been agreed, albeit at a lower range price due to first oil being at the time some way off without even Front Puffin being on site at the time of the offer. The delay in finalising this proposed deal with GPDC adds weight to this hypothesis that they are concluding a better deal with another party at a much higher price, because GPDC has in fact run out of time already, justifying MXO offering the asset to someone else. The GPDC offer was multiples of the current share price. So a higher offer from another oil company with deeper pockets would rocket the share price when/if announced.
bishopawn: Listening again to the Podcast, I have taken a great deal of comfort from noting the following:- MXO has achieved its strategic goals in Mexico and they are very very well positioned there. With Nigeria ready to start production in the next two weeks and with the work on Competent Person's Report on the Mexican assets already under way and indeed imminent for publication, MXO should be valued at multiples of the present share price. Next week the initial tranche of money - $2 million – will be paid for the Nigerian asset. The total consideration for AJE is $18 million, and this works out at 1.5 pence per share for this cash consideration alone. The significant cash input from AJE sale and the sale of 3 Mexican blocks for a consideration of $2million, in conjunction with a fantastic CPR to be published shortly in April, should mean that investor confidence will once again be high. The Mexican Tecolutla block retained by MXO will be evaluated during the next 12 months with the drilling of two wells, and output is expected to be in excess of 1,000 barrels per day. With cash in hand from all of the above and more, MXO will be FULLY FUNDED for this work in Mexico, and there will be no need to come back to the market and be squeezed as has happened recently. The directors do not rule out taking advantage of opportunities in other jurisdictions.
paddyfool: I think the question which needs to be answered is at what point can we have a CPR saying what do we have here? There will be two key ones...the first relatively soon from the surveys done and about to be done, the second will be the first drill. The first won't cost too much and all the numbers will be heavily risk based, everyone will be able to infer what they like on this one, the second will be considerably more costly and is some way away, it will be definitive and the making or breaking of the company. Stories of the fields already producing need to firmed up and accurate data on production rates provided, that could happen quite soon. So at what point does the rocket get rolled out for the share price? could be the first CPR, could be the first drill announced and funded, could be the first drill coming in, could be the oil price going over $50 a barrel, could be an existing well being reworked to produce impressive production, could be none of the above happens in which case we are doomed! But as I said before this will be an event driven thing, no one knows the outcomes of those events, though we are led to believe that they are positive. If you believe the story and that all the things above will happen overtime without truly massive dilution then at some point 2/3 years hence the share price will be man, many , many times the current one. All the trapped ghosts in the machine will have gone. Great upside here , but not something to have your last dollar on. dyor PS I hold, and I have locked away the shares.
g1g4lo: Thanks for your response cyan. I agree with a lot of what you say but the main thing is Mexico imv and always has been. Nigeria was just a finance for Mexico and once bought, the share price dropped as this was not advantageous even with poo at over $60 as seen by the reaction of the market. MXO hopefully planned to win 2 contracts and bought AJE in July 2015 with 378m shares in issue and still needed an additional £2m for first oil. The share price dropped from 4.5p to 2p admittedly with poo dropping but the share price had dropped anyway prior to this. Prior to this MXO share price had achieved an share price of over 5p (MCap of around £7.5m) with I believe138m or there abouts shares in issue and had money in the bank and finances would incorporate the winning of assets in Mexico. Now if we sold AJE for £10m with 378m shares in issue, I would expect an share price of 4p alone even with poo where it is with that money in the bank. Surely a good CPR would enhance this. Or am I getting something wrong?
bishopawn: Share price movement and funding update The Directors note the recent share price movement and the speculation that the Company is raising money at 1p which is the nominal price of its Ordinary Shares. The Directors wish to clarify that they are currently in dialogue with investors regarding a potential equity investment, alongside ongoing discussions for further debt investment as announced on 16 December 2015. The Company has also received expressions of interest from certain third parties seeking to acquire some or all of the Company's investment in the underlying asset in Nigeria. These are being considered by the Directors against the background of other financing options. The Board believes, however, that the value of its investment in this project is potentially significantly greater than MX Oil's current market capitalisation but will consider all funding options to ensure that the asset is fully funded up to production. The Directors are focused on delivering maximum value to shareholders and will keep the market appraised of any developments in this regard. ----------------------------- Now is the time to buy MX imho, when no one is predicting an Oil price recovery. When it does go, it will be startlingly fast, as fast as a few phone calls around the major producers. So better to be IN, than OUT with MX at the current price range. It won't be down here much longer.
keya5000: Email from Stefan Oliver in response to a scathing one from me bemoaning the leak of a placing at 1p, he's either got some serious front, is very genuine or should learn to keep his mouth shut, Monday will tell us all. Xxxxxxx, The below is my opinion only and should not be taken as advice of any kind. I’m limited as to what I can say but I can tell you I’m saddened and incredibly frustrated by the significant drop in our share price which I feel is totally unjustified from a value perspective. I don’t know of another company with our quality of assets and prospects which will have equivalent of 500+ bbls of low cost production valued as low as we are. I appreciate that short term oil price is very low but I don’t believe this will be the case for long and in my opinion is that this will bounce hard later this year. The lower we go the bigger the bounce. Nigeria can produce lower than most but the wider market can’t sustain oil production at current levels unless oil price is well above $35/bbl so short term oversupply will be taken out by falling production and then producing companies will reap the rewards. Andy and I have achieved all that we set out to do over the last 18 months and yet investors have been dumping stock at increasingly desperate levels. I can’t control what any shareholder does with shares that they own but I think this is being driven by fear and panic selling at a time where oil price has collapsed to unsustainably low short term levels and this has driven MXO to what I consider a stupid price. I can’t control the oil price or MX Oil’s short term share price but I can promise you that I’m doing everything possible to deliver success and my own personal belief is that the current share price is significantly below what we’re worth and I’m determined to prove it. I can’t comment on anything specific by email but we will be providing a formal update to the market on Monday. Regards, Stefan Sent from my iPhone
exposse: This is an explanation from Wikipedia of a type of debt financings. It is an interesting read. Death spiral financing From Wikipedia, the free encyclopedia Death spiral financing is a process in which convertible financing used to fund primarily small cap companies can be used against it in the marketplace to cause the company’s stock to fall dramatically, which can lead to the company’s ultimate downfall. Many small companies rely on selling convertible debt to large private investors (see private investment in public equity) to fund their operations and growth. This convertible debt, often convertible preferred stock or convertible debentures, can be converted to the common stock of the issuing company often at steep discounts to the market value of the common stock. Under the typical “death spiral” scenario, the holder of the convertible debt initially shorts the issuer’s common stock, which often causes the stock price to decline, at which time the debt holder converts some of the convertible debt to common shares with which he then covers the debt holder's short position. The debt holder continues to sell short and cover with converted stock, which, along with selling by other shareholders alarmed by the falling price, continually weakens the share price, making the shares unattractive to new investors and possibly severely limiting the company’s ability to obtain new financing if necessary. An important characteristic of this kind of convertible debt is that it often carries conditions like a quarterly or semiannual reset of the conversion price to keep the conversion price more or less close to the actual stock price. However, a lower conversion price also increases the number of shares that a bond holder gets in exchange for one bond, which increases the dilution of existing shareholders. A lower price reset can also force investors that have set up a long CB/short stock position to sell more stock ("adjust the delta"), creating a vicious circle, hence the nickname death spiral. Companies willing to agree to financing on these terms are often desperate and could not obtain funding through any other means. The terms, though viewed by some as onerous, give the lender a potential way to recover their debt regardless of what happens to the shares of the company. The lender would have a potentially greater gain if the shares were to increase in value, but if they decrease in value, there is some protection. Otherwise, they would probably not be willing to lend the money because of the poor risk profiles of the companies interested in this type of financing.
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