Don't need to listen to anybodies post if I'm wrong with my investment so be it, ill move on. To me if mxp get bought out for say $150 mill I'd be on to a winner fingers crossed. By the way should of gone into solg you would definitely be on to a winner there. With regards mxp its what you bought at thats more important than what you sold at.
Not too worried about hawk mate as the fundamentals are pretty good..... They have cash do do some drilling which helps when exploring for oil! I sold on the 30th when the interims came out and got out at 3.59. Max has tanked 70% since then so you do the math. Db is the most informed poster on max and u have not listened to his post at all. All of his figures have been conservative and max still haven't lived up to expectattions. Time to smell the coffee. Gl
DB u just can't help some people...... And yes jester the 8million barrels is all they get for all that drilling...... A joke isn't it! As dB just quite rightly pointed out this company won't be able to service its debt and in my opinion will go under. And what the bod will say is that oil exploration is inherently risky which it is , hence don't put your eggs in one basket etc.
You use to be one of mxps biggest advocates now your just has bad as the biggest knockers on this forum why the change. So what the interims were not as good as everyone was expecting but do you seriously believe that all max has to show for all that drilling is 9 million barrels of oil. This will turn around big style. There is allegedly 10 million at sagiz alone recoverable. Also domestic and exported =$72 average not 65 doesn't matter how its worked out average is $72.
What do these directors get paid for it must be a easy job.get a good wage for doing nothing.even when the share price keeps on going down. its time they were replaced or there wages cut ? What do you think
Apologies for all the mumbo jumbo. Here's some more: of that $72 per barrel MXP only get $25 per barrel netback for domestic sales and $40 per barrel netback for exported oil. Of the 4500 bopd, around 2500 is from Zhana Makat of which 80% is allowed to be exported. So 2000 bopd @ $40pb and 2500 bopd at $25pb. This gives an average of $31pb.
So Max makes $4.2m netback per month.
Of this, admin costs the company $1.2m per month, finance for the $80m debt pile is $0.7m (just covering the interest) and running a single rig is $2m per month. Around now, Max have to start paying back the debt, with amortization costs at an average of $2m per month between now and 2017.
So $4.2m income with outgoings of $1.2m + $0.7m + $2m + $2m = $5.9m.
That's $1.7m in the hole every month, once Max is paying back the debt, unless they cut the rig, in which case production will continue to drop steadily from now.
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