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I think they will agree something. If you look back through the accounts, the company previously defaulted on their covenants and the bank renegotiated. The bank also is a c.10 equity owner and so can participate in any upside on that front. The overall cash flow for MXP doesn't look too bad, except for the bak debt which has quite a steep amortisation profile. If they can get that delayed then they should be able to pull through this.
I can't take no more Jim!!!!! Has the bank been kind to Max, or did they don the black cap????
Let the Company go to the wall? It's in everybody's best interests to keep it going and make it viable at current oil price or lower. Too many vested interests to wind it up. There is a proven reserve there, someone will have to exploit it at a profit. It may as well be Max, as they know the fields
With max, they have an asset in the oil they have so who knows
A further announcement will be made in due course. GLA
No problem ,I am not sure about HOMO as it is not often used .as I think it may have other abbreviations.but I do like humbly .it has a good presence about it . And should be used more often .in my humble opinion .:)
Thanks, I thought it must be that, but would have thought the acronym would be BOMO? How about HOMO? (Humbly only my opinion) :)
This is short for but only my opinion ,I trust this explanation will suffice .hope this helps.
The reason for investing here is simple - it's a short-term play based on the downside v. upside scenario. I have no interest in holding long term, but assuming that the company negotiates a refinance and potential equity injection then the price should trend back up to c.0.6p. Worst case scenario is they do go bust, so that's 100% downside against up to 500% upside. Negotiations are ongoing with the finance providers (who themselves also hold c.10% of equity) and so there is still a possibility of the company getting through this. By no means guaranteed, but I knew that full well before diving in. In respect of timeline we're talking weeks rather than months, so we'll see what happens...
BOMOP?
Some one is loading up BOMOP
Apologies I'm on the wrong board ,was meant for TPET
I don't know why anyone would be considering investing here when there are similar companies with much better prospects, e.g. RXP. I was in Max for years and they brought me nothing but pain...
I like your confidence .IF Great bear strike oil then game on .BOMOP
I admire your bravery but the last RNs made it clear that even with finance it will struggle to be a going concern. I think administration will be here very soon.
MOVE IT ........share price that is .
minute movement.
The says it needs $85 a barrel to keep going.what has happend to all the money it has been makeing above that for the last few years.
Still going up soon be up to $100 a barrel
I have low exposure both here and in AFR - if the AFR bomb drops today then I will be shipping 10% profits here to bolster my small investment. At this price and with the potential that it holds if it comes good you don't need a large value holding to get amazing leverage. If this recovers and then you hold till year end then even £100 will have turned in to a very attractive holding!! This is a gamble here but I feel that the firm has a good chance of finding finance - same as Afren. These is my opinions, please do your own research and be aware, you could lose everything you invest here, that is a real possibility as has been warned by the BOD in its last RNS. Good luck!
Agreed. It's my first walkabout from FRR in months and months. It'll probably all end in tears......lol
Nice. I've dipped my toe in in a small 1m holding, purely speculative. Will either go bust it sort a refinance and jump up again. At least it's something else to focus on other than the paint drying over at FRR!
Perhaps more than I should have, £15k's worth. I looked back through my records and have lost over £10k to Max in 2011. It would be nice to get it back. Only punt what you are prepared to lose though. Good luck :)
$60 a barrel now and still going up.once the russia ukraine problem is sorted it will shoot back up
How many of these did you buy? Am considering following your footsteps with a small punt...!