The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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my thinking is that the shares the PI,s hold after this is settled will be worth zilt, our investment is not on the radar of AGR or MAX for that matter .not long to wait now .
Since jan i think the deal will be there or thereabouts. I just hope the deal is struck because the potentail upside of max with backers is massive.....
If AGR wanted 51% of Max for £37M when we were over 1p and the oil price was much higher and our back is even more against the wall now, what share of the company will AGR want now? My guess is 90%. Any other guesses or scenarios?
Their current dilemma will have forced the Management team to have a long hard look at their operating costs. They will have made many changes and if, as they say, they will be profitable at $40 a barrel, this bodes well for the future i.e. faster debt repayment.
In favour of deal imo . Could easily see 1p on relisting. They were offered 1.64p in december with the same debt pile as we have today!! Upon relisting we will have 38m investment, improved debt pile terms and a new strategy .. Perhaps including finishing nur-1 could see 2-3p if the strategy is good
Have just signed a 10 billion bridging loan. Im confident max will get there's
Using figures from the interim results for 6 mths ending Sept 14. 2900 bopd @$55 pb = $159,500 income per day. Cost of sales (less Depreciation, depletion and amortisation as I'm only interested in Cash at moment) was 49% of Sales or $78155 per day. Admin was 8.9% of sales so $14195 per day. Therefore, $159,500-$78,155-$14195=$67,150 cash per day. That's a surplus of $2,014,500 per month. These are fag packet calculations of course. What this tells me is that this company is far from dead. It is only debt that is the problem, sort it out and this company will survive and prosper. I've only got 85,000 shares as I thought "what the hell" and plowed a huge £140 into the stock. If things do sort them selves out this is going to be a traders dream and I will be in with more money; if it was trading at the moment I would definitely have a further punt.
Oil price as gone up 40% since....
DIRECTORS continue discussion to refinance the company. continues.
Continued......
Hope springs eternal. Nicely worded, giving some re-assurance to the masses. I wonder if the final RNS will deliver the coup de gras?
Still in discussions... imminent, reasonable prospect of deal? Seen that somewhere before! Ah well, still talking, and hope remains. GLA.
Max Petroleum announces that, following the suspension of trading in its ordinary shares on the AIM market of London Stock Exchange plc on 2 March 2015, positive discussions have continued in respect of an appropriate debt restructuring with Sberbank and an equity investment from AGR Energy. In addition to a debt restructuring and equity investment, the Company also requires bridge financing to ensure the Company is viable for the period until the regulatory and other approvals can be in place to permit the debt restructuring and equity investment, if agreed. The company continues in operation, producing circa 2,900 bopd, under severe financial stress. The Directors of Max Petroleum currently continue to believe that there remains a reasonable prospect that ongoing discussions could result in a sufficient refinancing of the Company, including bridge finance, being agreed with Sberbank and AGR Energy in the very near future and, on that basis, have not yet put the Company into administration. A further announcement will be made in due course.
Another steady day ,not many buys or sells ,looks like MM are short of stock .ivor top marks for the tongue in cheek , Surprised no one got the cryptic clue -all meant in the best possible taste !
I just thought i would liven the board up it had gone a bit quiet....
Thought so but had to check in case I was going mad
I think it was tung in cheek
Have I missed something? last time I checked the shares had been suspended. That may account for the quite day?
Please elaborate.
Dollar collapse that is....
What's your source?
In city say not looking good....
Another nice day today stayed the same .so no loss no big trades either very quite in fact .may see a rise tomorrow . AMITBPT
getting an appointment with your Banker in Kazakhstan is a little like getting a dental or doctors appointment in the UK? Max might have to wait weeks to get their first screening, come begging, come consultation appointment. Then it could be a case of "see you in six to eight weeks" hahaha
Agreed - if it was definitely NO, then I am sure we would have had the A*min confirmed by now. Still talking is potentially good, I guess... better than the alternative! :) GLA.