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Just quick question Reading today in press re mxo and large build up of shareholding by Chinese and 3% more and a possible takeover target How does this affect nct with future Mexico participation rights etc and warrants Still not heard from randy Hopefully update soon on sc and bopd and future wells coming to production
Blingybird - yes plenty of comment on those ultra rich Chinese investors getting close to 30% stake in MXO - at which point a mandatory offer would need to be made. Stefan Olivier was at pains to point out that they are not connected - hmmn not convinced myself. If MXO becomes the subject of a take over any previous contracts entered into will need to be honoured by the new owners, so I would expect the MXO Participation Rights and Warrants to be safe. Imo
I do not think it can be argued that the warrants should not be awarded because the agreement with GEO fell through. That could potentially have happened even after the warrants vested if the SP had gone over 2p. They may no longer have an agreement but I am hopeful that they will be awarded something in the 2nd round of bidding which may happen before the SP reaches 2p. That is of course IF they are allowed to bid - I read a post querying if the rules allowed them to as they failed to finance a successful bid from round 1. I have still to look into that - I was surprised this was not raised in the recent podcast, although SO did say they intended to go it alone in the next round. That makes it sound as though nothing is prohibiting them but confirmation would have been good. The Chinese question I believe is more straightforward than other speculators seem to think. Dr Hon is a consultant of MXO I believe, so why are people so surprised when the investors he recommends or finds come from his neck of the woods? I think it more likely they are investing in Dr Hon's opinion rather than a takeover attempt.
Glib - on the MXO bid situation there will in effect be a different bidder - the JV is no longer - MXO will be going it alone - it was Geo who failed to come up with the necessary finance and the CNH know that. Stefan Olivier wouldn't be saying last week that they are going alone on next round if MXO were to be excluded - wasn't he having breakfast with the MX Energy last week....imo From my understanding Dr Hon has been a longer standing shareholder in MXO so yes that makes sense.....introducing investors yes, but 3 with neatly 25% of MXO.....cannot rule out an ulterior motive, they guys are so wealthy they could have MXO for starters...