Roxi Petroleum Share Discussion Threads

[xclusive2] 28/11/2016 12:30

A2B,

Thanks for alerting us to this.

Smarty

[ngms27] 28/11/2016 12:23

If they can get the deeps to flow it means they might be able to 20 bag the reserves from here to something around 500m barrels.

[flawlesskicks] 28/11/2016 11:47

It means $billion company in 2018. It means a much higher share price once mms have mugged a few more at these lows. Mms can't stop progress. They can't stop A6 flow happening or A5 sidetrack. They can't stop development of the MJF structure and they can't stop the development of BNG. A massive buy at this price and hold until mid-2018.

[cmr79] 28/11/2016 11:36

What does that mean for the share price realistically then??

[ngms27] 28/11/2016 11:21

Add in 801 which was drilled off structure ;)

[timberwolf3] 28/11/2016 11:10

Absolutely no doubt in my mind now that its going to happen ; full field development for the deeps that is.

Airshagyl possibly extending to 25sq KM , thats a lot of oil.

[alan2bigall] 28/11/2016 09:16

Nice presentation
hxxp://www.roxipetroleum.com/roxi/uploads/results/investor-presentation-november-2016.pdf

[xclusive2] 28/11/2016 09:09

Well this is a little disappointing. Expecting a push through 12 and instead we're back trying to test recent lows at circa 9.6p and on very little volume ? No large sells of late and just drifting on minimal trade. 10p and we've found oil at 3 deeps ? I know none are commercial yet and that's why we're here, a lack of trust in the Roxi team.News this week or next latest, everything is x'd.Smarty

[konil] 25/11/2016 14:01

sloppy,

market has lost all faith in this company.

with any one and possibly all 3 of your points a possibility its no wonder share price remains in doldrums.

how can they justify not providing an update on a5 and 801 at the very least?

slight positive spin could be that they are trying to test pi patience and are mopping up sales of those who give up, prior to announcing good news when the share price will be a lot higher. cluthcing at straws but only because its a bright sunny day.

[sloppyg] 25/11/2016 13:13

SP action doesn't quite smell right when supposedly on the verge of a company making flow test within a connected structure. Money on any one of the following or ALL !:

1. Operational issues
2. Funding package at discount
3. Dilutive Baverstock merger terms

[bad gateway] 25/11/2016 08:00

"The Q is if 2bn shares result with 50/50 need some concrete news to justify £200m+ mkt cap"

That is a very large cap already whilst waiting for flow data. Kinda cuts down on the prospective profits here for pi's?

[control1] 24/11/2016 22:51

Meanwhile, the descent into the abyss continues...

[sloppyg] 24/11/2016 12:17

...with mates rates, interco loans, relative cash position etc thing we might be lucky to retain 50/50.......but lets see.

The Q is if 2bn shares result with 50/50 need some concrete news to justify £200m+ mkt cap.

[konil] 24/11/2016 10:55

can't help feeling they are holding back operational news until bng asset merger done and dusted.

if i'm wrong, and i hope i am, then we should be hearing operational news soon, they've had long enough on a5 and 801 to warrant an update, not to mention a6.

[konil] 24/11/2016 10:52

simplistically if roxi's c.1bn shares = 59% then we should be looking to see no more than c.1.69bn roxi shares for 100%, with the additional shares being allocated to baverstock.

of course there may be complications such as assets other than bng entangled in the deal, adjustments for cash positions and so on.

[togglebrush] 24/11/2016 07:58

For interest and FWIW
'
Hyunsik Jang (Chief Operating Officer of Roxi) Hyunsik Jang is a Korean national who has 30 years experience in the upstream oil & gas industry, gained principally with LGI where he worked in South East Asia, the Middle East and Latin America.
'
At the 2015 Annual General Meeting; Mr HS Jang was appointed as non-executive Director.
'
Major Korean companies tend to be conglomerates, often family centred, with investments in a very wide range of businesses.

[sloppyg] 24/11/2016 07:39

Whats also interesting is DNP now effectively own c.14% of BNG via Baverstock (30% of Bav direct + the 10% Bav own of Rxp).

However, as per a previous article, they state that they are expecting to own 20%+ post merger.

If true and indicative of the uplift for the private shareholders then what will be the slice of the pie left for PIs in Rxp ......soon find out as merger disclosure must be imminent now.

[timberwolf3] 24/11/2016 07:26

So doing business with a drug company, whose next Glaxo or Pfizer or may be even Boots.

[togglebrush] 23/11/2016 17:27

Notes on Proposed Baverstock merger

Following the acquisition in 2008 from Baverstock, of a 59% interest in Eragon Petroleum Limited, a company owning the BNG, Galaz and Munaily assets, Roxi and Baverstock have been partners in the development of the Eragon Assets, namely BNG, Galaz and Munaily. Baverstock retained the 41 per cent holding in Eragon Petroleum Limited.

Roxi had under the terms of the 2008 acquisition the requirement to fund the first $100 million of development spending on these Eragon Assets. This obligation was met in January 2015 and since then responsibility for development spending on the Eragon Assets has been split 59:41 Roxi : Baverstock.

During 2015 and to date in 2016 BNG development funding has been met largely from the proceeds of the sale of Galaz. The board of Roxi believes it now makes commercial sense for both Roxi and Baverstock that the entities merge on the basis of their respective interests in the remaining Eragon assets.

Accordingly, the board of Roxi and the management of Baverstock have agreed in principle that their interests should be merged by the issue to Baverstock of sufficient new Roxi shares to reflect Baverstock’s 41% interest in Eragon. This is subject to final agreement and would be conditional upon the approval of the relevant Kazakh authorities, the UK Takeover Panel, the shareholders of Roxi and the beneficial owners of Baverstock.

Subject to a final agreement as soon as practical following entering an agreement, a circular setting out the merger proposals will be put before Roxi shareholders.
.

[konil] 22/11/2016 09:34

if they announce success at a6 before the baver deal, then they are probably playing with a straight bat.

if they wait until after baver deal, tread carefully pi's!

of course a6 may be a dud, in which case back to the drawing board, and hope for a5 or 801 to rectify.