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Have AGR been scared off because Sberbank is playing hard ball and refusing to restructure the debt? Would they come back on board if the Bod's game of Russian Roulette with Sbeerbank ends in a restructured finance package?
What Sberbank does next may be a repeat of the way they dealt with Urals Energy's main assets in 2009/10. They will look after número uno and nobody else. Still think there is value here for a short term play at lease anyway,
Are you in?
So Sberbank a Russian bank (shivers) albeit the largest in Easter Europe has refused so far to talk extension? So if the Administrators (UK) are called in, what happens to the debt? Well Sberbank will be a secured creditor I would assume and therefore, would be first in line to get their money back. However, the process of Administration is not quick, a company of the size of MXP will take many months to sort out, the Administrators have 8 weeks to set out what they intend to do with the company and call a meeting of creditors; however, MXP could be in Administration for up to 12 months. Sberbank will not be getting a brass farthing until things are sorted, they might have to accept a settlement significantly lower than what they are owed. Poor old shareholdeers are stuffed they will most likely get nothing or very little. My point is though does Sberbank have the bottle to force MXP in to Administration? Russian banks are getting hammered from all sides at present. So this might be brinkmanship on the part of the BoD of MXP, dangerous but possibly leading to an accommodation. If the debt facility can be sorted then a third party investor/partner might be more willing to come on board. This is only one perspective and fraught with difficulty, lets hope something like this happens. MXP is certainly on everyones radar now, they say even bad publicity can be beneficial; is someone out there licking their lips and thinking Mmmm 4000 bod and half the company for a song? After all shareholders (most of them) had given tacit approval for a deal with ARG for 51% of the company.
Been in mxp for at least 4 yrs and ive seen it all massive corruption in my opinion. Lies virtually about everything they say 50/60 mill squandered on 1 well rxp drilled 1 at a fraction of the cost in the same country 11 mill comes to mind, i just wonder if the money was really embezzled. Poweful words i know but it would not suprise me if this is engineered so that agr can get it cheaper.
Some people have nothing better to do with there Monet is the company not bankrupt
174 mill bought? Madness
That was Alexios
Why so quick
If this goes to 0.6 tomorrow I would be amazed
Closed in the extended auction, no fixed quote. Sp will get back to normal on the bell tomoz. 0.11-0.12 Spangels will be singing the carrols soon :)))
My exit is 0.6p
LSE showing this price on the last 2 posters whats going on
I'm considering a wee punt on this. Inwoukd imagine this would bounce back at some point tomorrow ... Just wondering if anyone agrees and if so what they would expect it to bounce to?
If this really is the end why are people ploughing money into it. Was this rns released just so institutions could average down and they are using the oil price as an excuse ? Would it of not been best to keep quiet and release the dreaded in administration rns.
$6.8M payment is due Mar2015. Read Interims issued on 3Dec. This will bounce hard very soon. 1-2k punt Written them off already
Looking at Max Petroleum, I want them to pull through; A small investment keeps me interested and I'm not the slightest bit interested in gambling shares, it's a road to ruin for the inexperienced. I'm in to oil and gas companies at the moment because the best time to invest is when they are down in the doldrums; hopefully in 5/7yrs time I'm smiling because of my decisions now. Whether that smile will extend to MXP, well only time will tell, at least it won't be a long draw out death, within the next two weeks I should think? Good luck to those in the company who will be working frantically to pull this through.
Carvegyber : You should've sold a couple of years ago then. You obviously stayed around to get " wiped out ". Strange decision.
In at 1.21 no point in selling just wait ans see ,,,,,,,,,,,,
difference is that we can sell tomorrow with some money left (i hope) whereas a red/black gamble is all or nothing. Very different. Like all companies looking at going to the wall, there will be a bounce. this is more risky than AFREN though.
For a 100% gain, you have better odds betting on red or black at a roulette so why bother with this? The RNS already said so. Unviable. If shareholders don't get wiped out, I would be staggered.
Needless to say I did no research...... Spent 5k, averaged down with another 5.5k! Best decision I had made is selling when they issue the CPR is Dec 13. A good lesson was learned though! Good luck all holders and I hope you can recoup elsewhere. Mpg
i think everyone is thinking the same. It aint going under tomorrow, so a real punt. Small amount @£900 for 0.12p. lets see what tomorrow brings.
real spread is creeping up...risky but i am in...may well bail tomorrow but i think 50% if few trading hours may well happen...ah well you pays your money...you takes your chances!
Was thinking the same thing.....even just a little hope will see this do 100% must we worth a dapple!