Totally agree, Sberbank were lurking, Roxi and their £40m investment at over the market price (at the time) showed this to be a workable deal. Long, Long, road before we see 5p but you got to be in the game to stand a chance!
Probably all of it! I don't think it would have been confidential, any potential partner/investor would want to see it.
I wonder if recent success with the RXP deep drill has reignited some interest in NUR-1? Reading the RNS it does seem that AGR Energy are interesting in a long-term view of Max and want to be part of growing the company. So long-term things may be looking rosier.
If you look at the current situation re production rates and revenue it's obvious they need this though - I think Max may have gone in to admin if they hadn't got this additional funding.
It usually pays to be sceptical, so whilst I do think that this is overall a good thing (Max may well have gone to the dogs without this cash) we have to admit we don't know hardly anything about the family/business injecting the cash in to Max. Why are they doing it, what are their plans, what do they want? etc. Let's just hope they aren't going to break Mxp up, firesale it or something similar. What we really need is the Max BoD to explain what the future plans for the company now are.
On the plus side I can't imagine they aren't trying to get NUR-1 restarted so whilst I still think a successful deep drill is unlikely, it's now more likely than it has been for over a year. So there is some reason to have a bit more hope.
As a holder of this share for nearly 2 years and buying and selling at differing amounts .....it amazes me how some are viewing that we the recent news with a touch of negativity .....£37 mill has been pumped into the company at a share purchase price above what the share was sitting at ....so a few months ago ......it was all about the company going to the wall or being a sub penny share .....I agree we are not out the woods .....but if someone is pumping that kind of money into Max .....I can only presume that they know something that we are not privie to ....only an opinion.....but FFS ...Stevie wonder can see this is good for the company and also for shareholders
This is a limited risky venture in my view. Yes we could lose it all but look at the news flow to come... I don't think any family would take such a big stake without seeing the potential. RXP is a prime example where the investor at times was paying 40 % over the current share price and is currently sitting on massive profits with potentially £millions more to come.
Others will see the potential here and the price will rise. It's a question of do you get in now or wait until it's risen 100% from these levels? I for one have invested again now after already making 60% on these a few weeks back.
No worries. Upstream Online reported the Norwegian connection at first and then corrected it.
I suppose it all depends on Sberbank. They are owed serious money by Mxp so they should be happy to see a local family put a few millions in the kitty (at a higher than SP price as well)
There's been a thread on here about the difficulties of doing business in Kazakh so perhaps the Assas will be able to get things moving more quickly. "".... and the Board is working to expedite the progress of the application through the required official approvals as quickly as possible.""
Mxp entered into an agreement with Halliburton for NUR1 project management / planning in August last year. I don't know if that is still extant but perhaps Halliburton have been working away in the background and have said NUR1 is feasible if the money is there ... and here we are..
So standby for Sberbank giving it's blessing and then NUR1 being restarted (after a FarmOut ... do Halliburton do FarmIns ??).....
NB NUR1 is .... targeting reservoirs with unrisked mean resource potential of 467 million barrels of oil equivalent and a 29% geological chance of success.
The license of JSC Credit Altyn Bank, owned by the Assaubayev family, was suspended for six months by Kazakhstan regulators after shareholders didn’t comply with a request to boost the lender’s equity capital.
The Assaubayev family opened the bank in 2009 after Polyus Gold International Ltd (PGIL), Russia’s largest gold miner, acquired London-traded KazakhGold Group Ltd. from them. Since 2010, Polyus has tried to sell KazakhGold’s assets back to the Assaubayevs to end a legal dispute with its Kazakh counterparts.
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