Get out and buy something else would be my advice. Or if you're thinking of investing here, don't. Plenty of other companies to invest in. RXP have a deep find and are quite low at the moment compared to a few weeks ago. ;-)
Probably a 20-30% rise followed by a retrace back to 1p unless NUR-1 is re-started. If NUR1 can be restarted then may 2-3p prior to results, falling back sub-1p if it fails (likely). Really the only successful future is if Max can secure the AGR funding *and* get NUR1 restarted *and* they find oil *and* it's commercial. I'll leave it up to the individual to decide what the odds on all those events happening are. ;-)
Looking very ropey now...they need AGR to invest if they are to be more than a debt repayment vehicle but the RNS hints at problems getting this investment. Without AGR I don't think they will go bankrupt but they will have to use most/all of their money to repay the debt, leaving zero shareholder value. 1p seems to be the support for now but this will collapse if AGR walk away.
Very very risky now...everything depends upon a single decision that we have no way of knowing what the likely outcome is.
We can speculate endlessley but the lack of SP movement after discovery announcement probably had more to do with the company's financial position. It might have suprised most PIs that the SP didn't move but any data analyst who understands O&G companies and what it takes to run one would probably have understood that finding the oil is the tip of the iceberg. It can take years to fully develop a field, couple this with a company with a poor management tract record, bad financial position and lots of other companies to invest in, it's not that surprising the SP didn't move. NUR1 was the only thing Max had going for it, take that away and there's nothing left worth investing in really.
How do account for the sp falling every time the company announced a discovery? Did not and will not make any sense to a logical thinking person. However, what I did not realise at the time was the cash burn of the company after the placing in 2011. We obviously have differing views which adds to the intrigue of share dealing but my guess is the guys in the smoke filled rooms did. MXPs success rate was pretty good at the time, all the operating costs thereafter was blamed on NUR-1. The carrot that kept you invested.
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