Roxi Petroleum Share Discussion Threads

[timberwolf3] 16/12/2016 18:52

Fat envelopes, greasing wheels and cogs and all that , oh my gawd Konil, surely that doesn't happen in kazakhstan, Britain yes but not Kazakhstan. :)

[konil] 16/12/2016 14:38

remembering that they need kaz and uk authorisation for the merger, it could take an awful long time unless the envelopes are fat enough. 2017 2nd half? hope not, but who knows? could be next week!

[timberwolf3] 16/12/2016 14:20

Who am i kidding , he's not gonna deliver is he.

[timberwolf3] 16/12/2016 14:18

5 working days left for Mr Carver to sort out our xmas present.

[xclusive2] 13/12/2016 17:57

Only £30k BUT hopefully a nosey 30. Initial flow test results pre merger finalisation ? Merger first ?

Smarty

[control1] 13/12/2016 15:47

Someone wants in...

[togglebrush] 13/12/2016 14:46

Bah Humbug

[ngms27] 12/12/2016 16:39

It won't be pretty.

Scrooge

[xclusive2] 12/12/2016 16:15

Control,

I have a different view and am expecting news this month. Not saying that we won't be disappointed again but let's see.

Smarty

[control1] 12/12/2016 15:43

Toggle, they hadn't done anything to A6 as at 17th November (see statement in presentation of that date) and, I suspect that this is still the case now...

[togglebrush] 12/12/2016 11:52

A wishful attempt to put two events together:-
‘
Baverstock merger
‘
The Company continues to progress the planned merger with Baverstock GmbH, the entity controlling the 41% of BNG & Munaily not owned by Roxi, which was announced in June 2016. and we expect to announce the detailed terms in the coming weeks. Completion of the proposed merger requires certain regulatory consents in the UK and Kazakhstan, together with the approval of independent Roxi shareholders and the Baverstock Quota-holders.
‘
Based on recent experience of other mergers this could take to 6 to 7 weeks from formal announcement of details. IF announced this week the completion could be in last week in January 2017
‘
28th October 2016 Deep Well A6
‘
We now plan to complete the well by cementing a 5-inch liner to the Total Depth of the well.
Following this we intend to perforate the interval between 4,450 - 4,505 meters to allow a 90 day flow test to commence without delay.
‘
IF schedule is kept then the test will be complete in last week in January 2017

[konil] 12/12/2016 10:19

timber, i suggested earlier that after merger one or more of the big individual shareholders may inject new cash in return for issue of new shares to them. dilutive to shareholders not injecting new cash but likely to be best terms available if done on a 'fair' basis. or as you suggest another loan from one or more of them.

if deep ops have stalled due to lack of cash, they will have no option but to raise funds prior to getting any deep wells flowing.

[timberwolf3] 12/12/2016 08:50

There won't be any official fundraising until they have at least 1 well flowing, a private loan from one of the Kazakhs may be, the last thing they would want is their holdings diluted . imo

[ngms27] 12/12/2016 08:44

Plus a lack of cement ;)

Which incidentally has likely caused some skinning in the well bore.

[konil] 12/12/2016 08:41

slides 19 and 20 of the latest presentation give merger info and the number of shares before and after merger;

before - shares 937433077 (roxi own 58.41% of bng, slide 3 and 6)
after - shares 1588869622 (roxi own 99% of bng, slide 3)

there is no mention of the cash position or intention to raise funds in the presentation that i can see. imo this is purposeful, not an omission, they are preparing the ground for a funding round in the near future, as deep ops appear to have stalled due to lack of cash??

[sloppyg] 11/12/2016 19:46

BAV also owned 10% of Roxi so i think when all is said and done it will be closer to 50/50 and you will see that 2bn shares with maybe a raising thrown in.

A that point approaching $275m mkt cap so need some commercial flow just to stand still ?

20% of production will also continue to be sold into local mkt indefinitely. Hopeful of a decent return here still but suspect the multi-bag potential is limited.

[control1] 10/12/2016 22:12

Another rule I follow relates to the number of shares in circulation. If you are right konil and the number of shares hits around 2bln, this is pretty near uninvestable for me without a major discovery with a confirmed flow test.

So far, we don't know the extent of the former and we do not have the latter.

The guillotine is falling Mr Carver and your head is under it..

[konil] 10/12/2016 17:14

toggle, the total shares after merger is based on the exact percentage ownership of bng prior to merger i.e. 59% roxi to 41% baver, give or take 1%. in that respect it seems a fair deal.

i dont know about other assets, cash, etc. that will be pooled in the merger, but bng is where the big action is.

as per my previous post, i suspect that after merger new shares will be issued to one or more of the big individual shareholders in return for new cash injections into the merged entity. assuming all done on a fair basis this is likely to be the least dilutive and lowest cost option for funding further ops. bwdik.

all imo, dyor, blah, blah...

[togglebrush] 10/12/2016 10:27

On merger: the presentation of 17 Nov 2016 gives asset splits and shares will be:-
'
_______Roxi___________Baverstock ______Total
Shares 937,432,077____651,437,545______1,588,869,622
The %____0.59%__________0.41%
'
Mkt Cap__£101m_______ £100m
'
By my simple mind there is something not quite right in this simple view.
Is this a possible cause of the delay in completing the deal ??? any ideas.

'
Ref my post 33866 extract for Baverstock GmbH Market capital
'
Nov 24 Daehan New Pharm Co Ltd * Says it will buy 1,000 shares of Baverstock GmbH, which is engaged in oil development investment in Kazakhstan, to maximize overseas investment value
* Says transaction amount is 8.07 billion won
* Says it will hold 30 percent stake(6,000 shares) in Baverstock GmbH, after the transaction
'
By my calc 8.07 million won is £5.5 million (GBP) so holding of 6,000 shares = £33 million
therefore Company value £100 million for Baverstock GmbH
'
FWIW...ROXI has current Market value of £101.95 million

[konil] 09/12/2016 11:47

looks like its all systems 'sound asleep' at roxi until merger completed.

my guess is they will complete the merger and then announce further funding from one of the big holders in return for issue of more shares to them. so some dilution but hopefully the terms of such funding will be better than would be obtained via a third party cash injection or deep discounted equity issue.

cannot see any other reason for lack of news on a5 and 801 over c.6 months other than they have been unable to progress those due to lack of cash, and same is now probably true for a6 also, given that many on here think casing etc. should have been completed some time ago.

i'd prefer to think the above than that a5 and 801 are now completely kaiboshed, which should not be the case given the content of the latest presentation.

ho hum...its back to sleep we go...

[timberwolf3] 08/12/2016 12:27

Shame about B&Q, may be there's a Travis Perkins

[togglebrush] 08/12/2016 11:24

FWIW Local weather today based on Aktau, Kazakhstan
-6C with snow and feels like -14C with winds over 20mph (a very windy day)
'
Aktau experiences a cold desert climate; Population 178,187 , has an international airport with a Renaissance Hotel and Holiday Inn but no B&Q as far as I can see. It is on the Caspian Sea. Map in recent presentation shows closeness to oil fields (roughly 200 miles as the crow flies)

[ngms27] 08/12/2016 08:03

Control1, I did indeed.

What's wrong with the SOU board now my mate Chelly has sorted them out!

[control1] 07/12/2016 22:42

I accept your statement jonny, however you might want to tone it down.

We have a relatively well informed board here with some proper oilers (who show up every now and again) so please don't turn this board into another SOU.

Granted that there are some uninformed posters over there but I think you poked that hornets nest just a little bit too much (and obviously enjoyed doing it)