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Is this even worth a punt... AFR hit 4p and then back to 13p...i know there are obvious differences but will this bounce even a little?!?
Really sorry for anyone still caught up in the mess that is MXP. My first ever purchase was 26p and had high hopes with the NUR-1 drill into it basically took the company under. Ever since that fateful drill its just been problem after problem and I thankfully got out intact at the last spike over 2p and walked away. Hope they do manage to survive this but sadly I cant see it and someone will pickup some very cheap acreage as the debt and low oil prices has crippled the company.
Looks like this is it. Another one of my crap investments. Wrote this off couple of years ago.....
Does anyone see NUR1 as giving a glimmer of hope that MXP will be taken over?
I have just bought 80K shares as a bit of a punt. I haven't had chance to do any research on this company but hope that it can survive. 4K bopd is not to be sniffed at; have shares in LGO who currently produce 3K bopd, the difference being debt. The analogy of the personal loan and industrial financing is not correct; banks are aware when lending to oil and gas companies that debts are long term and cash flow can be adversely affected by the oil price. No one envisaged such a savage receding of the oil price and the bank will probably lose out if administrators are called in as well. Also if administrators are called, they will do everything they can to salvage the company as a complete entity and sell it off as a going concern; shareholders might yet get something back if a buyer can be found. There's only a small window to sort this out but sometimes when all is lost and companies stare in to the abyss something is salvaged. Anyhow, commiserations to those who have lost so much value but GL to MXP; I hope to make a good return on my speculative investment because that means they will have survived.
Probably yeh but no-one knew 6 months ago that the oil price would be so low now. Even if we assume the price will go up the bank likely won't renegotiate the debt. Imagine if you had a loan and you couldn't afford to pay it right now...go to your bank and say "I can't pay this now but I should be getting a payrise in a year or two so if you can wait until then...?" and see what answer you get. It'll be the same here, they won't get favourable treatment from the bank. Admin is weeks away now IMO.
MM taking the **** again that trade is in the buy coloum and is a SELL !! Looks like it will drop further back to 10/15
So we have wasted 6 mths with agr energy oil aint going to be 58 dollars a barrel for ever. Put mxp back on market im sure someone with deep pockets might want to invest.
Well I had to get it right eventually...I've invested in over 20 companies in the last 5 years and they've all lost me money (jury still out with RXP). Even by pure chance alone I should have had a few winners. Damn gypsy curse!
Hi mate, well it looks like its finally the end 8-(( never mind only £8k gone, looks like you guessed right with RXP 8-))
I think he's probably had a mental breakdown. So would I if I'd lost £30k here. Mind you I did lose £10k so I think I may also have gone at least partially mental...
Hi Mav....gotta admit you're either genuinely crazy or you're having a laugh (if the latter well played on never deviating from the "story" for nearly two years solid now).
Next Thomas Cook.......mark my words when a deal is announced we will see 300% and then over the next 12 months a return to £1. Seplat, Asset Sale or Restructure of debt profile.......whichever way it comes it will be a massive boost.
where is this going is down out . ?
unviable business...............sad but bust.................
I didn't swear at you it just thought it did for some reason... :P
"no way this will go to admin"... S******... ;-)
wise move! lol
Mxp off long ago to be honest but as usual you always think it will come good oh well one day
how much?
nice profit
i,m out ..with some profit
All selling
What's any thoughts on someone buying us out?
Congratulations you bought £200 of crap stock