Another milestone AGR could help max extend the liscence for nur-1 acerage
If emba b is a success max has said it would open up a plan type along the arch and this the chance of success of the next deeps jumps to circa 70% ... A lot of hurdles to cross before then, but certainly on the cards if AGR want to have a go!
One thing they must do is get the right drilling company in to complete NUR 1. One with experience of the geology and salt strata that they are dealing with. Also the contract should be written that the driller shares the risk. If the drill fails, Max doesn't foot the whole bill. If the drill is successful, the driller gets X% of the projected profits for X years.
Hard to argue against max rising in the same way once we are restored, as max had a offer of 1.64p on the table, with the same debt and bopd in december as we have today (minus the small zm reduction) Essentially we are the same business we was at the 1.64p offer, but if this goes through we will have AGR funding, and a improved debt repayment with the bank, so one could argue that once signed we are in fact worth more than the 1.64p we was trading at in dec 2014.... Add into the mix a new strategy from agr perhaps getting nur-1 finished and we could be actually worth 4-5p ... We just need to get this deal over the line and i beleive max will be a comeback play, a 20 bagger from todays levels should the deal be successful . Gla not long now - still very dodgy here, but thats the risk v reward you take if you hunt the potential 20 baggers . Deal goes through ... Give oil prices 18 months recover and max will be an exciting play.
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