Is MX Oil worth re-visiting??15 Apr 2019 10:21
After a difficult couple of years at its Aje field, offshore Nigeria, MX Oil announced today that it anticipates generating free cash flow from the first half of 2020, once its project-level debt has been repaid. The update was accompanied by a £680,000 fundraise that saw a significant strategic shareholder inject a considerable amount of working capital into the company. With cash now underpinning a major portion of MX’s current £1.8m market cap, we look at whether the prospect of profitability can trigger a re-rate in the firm’s share price?
https://total-market-solutions.com/2019/04/15/mx-oil-news/