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Max Petrol Share Chat (MXP)



Share Price: 0.16Bid: 0.00Ask: 0.00Change: 0.00 (0.00%)No Movement on Max Petrol
Spread: 0.00Spread as %: 0.00%Open: 0.16High: 0.00Low: 0.00Yesterday’s Close: 0.16


Share Discussion for Max Petrol (MXP)


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West11
Posts: 3,830
Observation
Opinion:Strong Buy
Price:1.40
another run!
13 Jun '14
at 2p + today?
 
West11
Posts: 3,830
Observation
Opinion:Strong Buy
Price:1.40
View Thread (2)
RE: mxp
13 Jun '14
no more profit takers, all done yesterday...1.4, very good level to get long IMO
mannnan
Posts: 23,911
Question
Opinion:No Opinion
Price:1.40
View Thread (2)
mxp
13 Jun '14
any more profit taker ?
West11
Posts: 3,830
Observation
Opinion:No Opinion
Price:1.40
Note!!
13 Jun '14
LONDON (ShareCast) - Shares in oil and gas company Max Petroleum (Other OTC: MXPTF - news) pulled back sharply on Thursday after an strong leap earlier in the week despite the company reporting a solid update on its reserves levels at the March year-end.

At the end of March 2014, the group had an estimated 9.5m barrels of oil equivalent (boe) in proved and probable reserves, down 14% compared to the 10.9m boe reported one year earlier.

It was, however, up 11% on the 8.6m boe estimated at the end of September.

The total proven, probable and possible reserves were up 7% to 10.4m, compared to 9.7m boe six months earlier.

The post-tax net present value discounted at 10% was $140m, compared to $184m a year previous and $157m at the end of September of 2013.

Total (NYSE: TOT - news) production during the fiscal year ended 31 March 2014 averaged 3,899 barrels of oil per day (bopd), up 17% on the prior year.

"Production during the first two months of the current fiscal year has been variable, but averaged approximately 4,500 bopd," the group added.

Shares had fallen 22.67% to 1.45p by 13:35.

"All in all, a good set of numbers. With that said however, the shares have almost doubled in last few days, probably offsetting a lot of the good news from today," said analysts at Oriel Securities.

Max shares soared on Tuesday after the company said that a development well in the Zhana Makat Field in Kazakhstan encountered hydrocarbons in Jurassic sandstone reservoirs in line with expectations. The ZMA-E7 well will be placed on production "as soon as practicable", it said.

NR
West11
Posts: 3,830
Observation
Opinion:Strong Buy
Price:1.40
Mannan
12 Jun '14
Big W, I am out @ 1.8 this morning...agree, if this goes to 1, then game over....

Time for Brasil v Croatia.... Way more important!!!
mannnan
Posts: 23,911
Observation
Opinion:No Opinion
Price:1.40
ref..West
12 Jun '14
if this retrace to 1p .then wait for 0.5p .
TheRobster
Posts: 3,815
Off Topic
Opinion:No Opinion
Price:1.40
West
12 Jun '14
I'll let you know how the short goes. Still confident it'll retrace towards 1p. ;-)
mannnan
Posts: 23,911
Observation
Opinion:No Opinion
Price:1.40
RE: Fair value
12 Jun '14
Max Petroleum said as at 31 March 2014 it was estimated the group had 9.5 million barrels of oil equivalent (mmboe) in proved and probable (2P) reserves with an after-tax net present value discounted at 10% (PV10) of $184m.

This is an increase of 11% from 8.6 mmboe as at 30 September 2013, with a PV10 of $140 million, and a decrease of 14% from 10.9 mmboe as at 31 March 2013, with a PV10 of $184m.

The data was compiled by Ryder Scott Company, which estimated the group's total proved, probable and possible (3P) reserves increased 7% to 10.4 mmboe as at 31 March 2014, with a PV10 of $197m, from total 3P reserves of 9.7 mmboe as at 30 September 2013, with a PV10 of $157m.
Drainboy
Posts: 110
Off Topic
Opinion:No Opinion
Price:1.40
View Thread (7)
RE: Fair value
12 Jun '14
Yep, longer term the cost cutting will work its magic. It'll just take time.

As far as I'm aware, they've made the first debt repayments or, at least, they haven't RNS'd that they've missed them. Hard to know. Max don't like to be transparent all of (or much of) the time.

Reserves went down after the New Year Horror of a reserves "upgrade" but are now clawing their way back up. I imagine it will be an upwards (ish) trend or at least enough to offset production for now. If that can continue for the next two to three years, then there's value here.
West11
Posts: 3,830
Answer
Opinion:Strong Buy
Price:1.40
TheRobster
12 Jun '14
Medium trend going forward!!!!

Given my use of the terms, "trend reversal" and "multi year" lows, though forward looking was implicit, clearly not in your case... Too much afternoon booze?

How is your short position? Best cover tomorrow, oil sector is just getting started on a major bullish stage..





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