Mav, where do you get that we're "easily paying down the debt"?
The only direction the debt has gone is up. Once we ditch the shallow rig at Uytas we might actually be cash neutral or very slightly cash generative. With the recent limited flow rates from new wells coming online, we don't have any spare money to be paying down the debts.
Seems a fair target, but this will be decided by the institutions. The thing is that we are easily paying down the debt and if we get the funding to finish the deep then a re-rating will see up at around 12-14p imho.
I think that the current outfit is a prime takeover target and with proven reserves and current production and lets not forget the acreage we have 10p was a minimum. Yes I would like to see 15p, but have to accept that money talks in this market and would our BOD turn down 10 - 15p - probably not.
Not sure why you keep posting on this bb? Most know your sentiment towards the company. Out of interest, how is your WAS doing? You annonced on the day you sold out that you had bought more of WAS shares. Bit below the belt to ramp another company.
' Sorry guys but I've had enough here...I did intend to hang on until resolution of NUR-1 (one way or the other) but one of my other shares (Wasabi Energy - WAS) has started to motor. Up nearly 50% in the last week. Sold out of MXP with 85% loss and dumped what was left into WAS'.
Whilst WAS has yet again crashed to all time lows, MXP has held firm at the current level with the same potential still locked in. Can the same be said about WAS?
Logical, it's true what ur saying that another company isn't going to pay a huge premium. 40% from the current sp gives us around 6p. I suppose the bod will want to line their own pockets so would they get sweeteners from any buyer and is it standard practice ? Personally I have taken a spread bet from 4 p which should give a decent profit should any takeover happen.... Next week I'll have had the bet open for a year..... Time flies
what price you in at? and would you be happy with 10p? I suspect most wouldn't here, even the big players in at 17p I notice you have now revised the dragon oil big from 15p which I agree with as a 400-500% premium is not going to happen, but I still think 10p is a bit too high. most players big players who buy out smaller companies do it from a position of strength, and thus want a good deal, the smaller (sometimes Struggling) company gets shafted somewhat. look at other takeovers, most pay a 40% premium or something similar, on top of a rise in anticipation usually. - but max wont rise in anticipation, we know this.
Let's see what happens in the next few years. Maybe NUR-1 will be completed---maybe not. Some play the red and some play the black. Eventually the decision is made. I'm patient. I'll wait it out. If you are still around then, we can discuss it then, after the facts are known.
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