Member Info for D14M0ND

Well I did a search for you and this is who I found. Thought it may be you but obviously not

https://mobile.twitter.com/search?q=Scully12345&src=typed_query

Yes Scully - only way of staying within the LSE posting regulations - otherwise mannnan gets his knickers in a twist.

However, I only refer to them when they are on deaths door where the company ramp and rubbish they post in the RNS doesn’t tie up with the figures announced in their accounts or future expectations. Unfortunately, this is another one

Fine bud - just thought I would say hello - seen your post on my.lse board

Enjoy your even8ng mate 😀

Fully agree kenny

Hope all is well bud

Poor old mannnan - cannot link to the original post as per norm so many cannot follow the thread.

Didn’t realise I had the ability to stop TOOP progressing - may be they just employ me to quote bullish remarks with no justification - may be look at the BODs and do a bit more research and stop following a POS,

Just to remind those that want to look, I am definitely not in TOOP and never will be.

mannnan - I post fully in line with LSE posting regulations and there is no problem posting bearish views, similar to you posting bullish views which I do not agree with. Clearly we do not agree and that is the point of a discussion board.

But I will remember these 2 companies and see how they react - not doing so well on the other but keep up your pretence though.

I follow placings and invest in those trades worth investing in where I do not post. There are enough of bullish views on all boards so not point in adding to them. I rather read bearish views and see if there is justification and check my investment/trade is correct and change my objectives if I feel my initial investment was wrong.

Sorry - misprint and should say

So in 3 months their target price has been reduced from 3.15p to 0,85p. Suspect in the new year, they will be in line with me when another fundraising is required with an SP around 0.03p that their new target will be 0.18p.

Started looking at MXO on 3rd July 2018, just 3 months ago and they said when the SP was 0.425p and they said

“Our conservative valuation illustrates the material potential upside in the stock at the current lowly valuation. We initiate coverage of MX Oil with a target price of 3.15p and Conviction Buy stance.”

http://www.alignresearch.co.uk/cpt-research/mx-oil-initiation-coverage/

So in 3 months their target price has been reduced from 3.15p to 0,85p. Suspect in the new year, they will be in line with me when another fundraising is required with an SP around 0.3p that their new target will be 0.18p.

Just remember they are invested in MXO much higher and pointed out in their report in July “MX Oil is a research client of Align Research. Both Align Research & a Director of Align hold an interest in the shares of MXO.”

Not a good investment then

Please tell me you do not listen to Align Research? Don’t base your trades on them. Otherwise you will look at the charts and see it hitting a new high of 5.25p next

Scully - are you on twitter?

This is the point of where the company are in trouble as they have to save the cash in the bank. So they do not see the oil production creating enough cash to cover the overheads, pay the £2.2m payables even with higher oil prices.

“Reduction in Company's operating cost base including the receipt of shares in lieu of salary for 6 months by certain Company Directors to preserve cash
Non-Executive Chairman Nicolas Lee has stepped down with immediate effect”

They cannot really scale up until late 2019 when more wells are drilled in phase 2 (meant to be 2016 I think?) but I also do not fully agree with the steady rate of 3300 bopd bearing in mind the last interims showed an average of ~115bopd net to MXO which is about ~2300 bopd based on $60 oil price for early 2018. Anyone thinks the oil price was higher, then the production was even lower.

Very rarely down but as you say - much cheaper

Look into IG though and free if trading enough I believe but unsure about mobile app

LSE is not brilliant recently. But I assume you trade and surprised you do not have it. It is generally only any good for traders to see when MMs plan to move up or down.

However, I generally rely on dummy trades as they are generally accurate where L2 has false books occasionally.
RSP is the best use when you see exactly what each MM has to buy or sell and at exactly what price.

I have both accounts on IG but to do dummy trades, you have to do it on the share dealing service. Most of the time it is precise but sometimes less accurate on illiquid stocks sometimes

It can be down played in my view mainly due to the cash balance as of the 30th June of £94k with payables of £2.244m. They are skint and still skint.

They had to have a massive discount to get placees to take it up at 0.1p

I know we have come across each other recently but only look at POS which in my view, this is one. I know you have a reasonable trade here and hope it works out for you.

Personally I look at the figures and the fundamentals which shows where MXO are. But a little spike may happen as AIM does not always follow logic but I cannot see one.

These funds which is about £920k ish net will pay off some of the debt but will still have payables well over £2m due within this tax year. How are they going to pay them.

MXO is in the early stages of discussions with groups on the provision of project financing for its share of the development costs for the completion of the additional wells expected in Phase 2 through to full field development. Which is the problem - early stages. I remember several years ago SO said they were in advanced discussions with companies in Australia to get non dilutive funding for this phase 🤣

Also, “MXO has entered into an agreement with Gneiss Energy, an energy-focused advisory firm, for the purposes of advising on the project finance arrangements for the next phase of development.”

That means to me that they cannot find a partner to invest in phase 2 and paying Gneiss Energy probably a good part of this placing to identify any option to get them out of the p.o.o.h.

Use it here Scully - LSE

Would prefer to use IG but use an iPad and cannot load the software to use it - are far as I am aware. But then I would use RSP instead of L2

RNS dated 13th July 2015 says

“In addition, the Company announces the issue of 133,333,333 new ordinary shares via a placing at 4.5p per share to raise £6 million before expenses to provide additional working capital and funding for future capital expenditure and investment.”

They also continue “The Company intends to raise additional funds prior to first oil and for Phase 2 and Phase 3 development. The additional capital expenditure for Phase 1 is expected to be financed by way of a non-dilutive debt facility. The Company is in advanced discussions with regard to such a facility and will announce details of this once secured.”

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MXO&ArticleCode=509p6uoh&ArticleHeadline=Investment_In_Near_Term_Production_Asset__Placing

Well that was complete rubbish and reminds me of the carp the are issuing now. So in just over 3 years, the SP has gone from 4.5p to 0.09p - a loss of 98% and what do they have?

Haven’t done any non dilutive funding for phase 2 and cannot afford to continue unless they now dilute the project to find additional funding partners to help continue to finance going forward.

But looking at the last report, as of 30th June they had cash of £94k with receivables of just £31k but with HUGE payables are £2,244k - these figures will now be worse 4 months later here in October.

Now in theory if wti stays where it is, the revenue should be around £1.5m for around 6 months but even though the Directors wages are to be paid in shares, this net revenue from the placing (~£920k) will not cover the last 4 months of administrative expenses or the difference in the receivables & payables showing over £2.1m short. This raise I cannot even justify it to keeping the lights on - next raise will be in January in my view much much lower. Not even worth a trade as what info can they put out to get a new spike? I cannot think of one.

Placees will be caught out yet again by SO and the BODs. They will not dilute the project in my view to any benefit to MXO shareholders. Feel with the costs involved, I feel they will struggle to find any partner but if they do, MXO shareholders will be devastated.

They hope to drill in 2019, where they still currently have no money but the Operator plans to increase production from 3,300 bopd to 8-12000. Let us assume they achieve 9,900bopd in 12 months time.

Assuming MXO can keep getting additional dilutive funding to dilute the shareholders even further to get to that stage, to find a partner to provide funding to phase 2, they may have to reduce their interest to say 2% at best.

This will generate a yearly revenue of 495bopd to the new JV where MXO will still only get 148 bopd - so worse off.

Trouble is, the amount of dilutive funding to current shareholders has not stopped here even before they dilute the project again (if they do), there will more than twice the amount of shares in issue compared to now.

This is a company in big t

You can open an account for free on IG without any funds & get a quote to buy and sell with whatever quantity of shares which helps you identify the limits.

I use it 100s of times a day on various stocks. Hope this info helps

I do not have it but RSP is better which you can also get on IG

You have a lot to learn BD6 - try IG

The quoted bid all day was 0.2512p to sell which continued to 0.25p to sell.

The buy price started at 0.258p, then 0.256p and went down to 0,255p.

I checked the price before the 8m price came in and straight afterwards and both were 0.255p (at the mid point) - hence the 8m trade was a worked sell in my view. I did dummy trades on this share after every trade which to me proves the 8m was not a normal trade and a worked order as the sell price straight after was lower at the mid at 0.255p.

So how do you explain the 2.5m was just above the bid at 0.256p, the 8m after was 0.26p but the next sell was below both at the mid of 0.255p. The 2,5m trade and the 0.255p trade was perfectly in line with the dummy trades I performed but the 8m was not. If the 8m was a buy, the next buy would not be below the 2.5m trade at 0.256p at 0.255p, the midpoint.

You may see from my comments that it is possible to get a spike and agree with you that shares frequently defy logic. So I am not arguing a spike is possible but only because many have not done enough research - hence will defy the logic.

The only thing I will add, the next figures to be produced will be the finals in January 2019. Personally my view if invested, is to get out by this time as they will prove the numbers posters have identified to be correct and still producing a loss of over £1.4m with revenue of £1.4m with cost of sales and administrative expenses being over £2.8m.

Additional cashburn due to direct marketing, hardly any additional revenue with a much higher loss due to slightly increased admin expenses. This will not show the additional cashburn too much as it only covers up to Sept 2018.

However, it is the interims which will show the failure up to March 2019 that will be issued in May/June 2019. By this time thou, the money will be pretty much gone.

In the meantime, I will continue to be very bearish on this stock as you can see from my posts, this is not a business with a going concern unless pi supply it with further huge dilutive placings. But again I will not argue with you, only time will confirm when the next numbers are produced.

Prefer to be a realist myself

But I do not look at the volumes shown by ADVFN or LSE - these are generated automatically as a buy above the mid and a sell below the mid.

So what happens when MMs play their games, trades are delayed by an hour or a large order is being worked. It is clear the 8m which is shown as a buy was a worked sell which nobbles ADVFNs figures which equates to the figures I specified. There was a 2.5m buy and what you think is an 8m buy at 0.26p just after so why is the next buy at 0.255p when you could buy millions but can only sell 100k.

However this can only be traded as it definitely is not an investment as figures based on results issued by the company and the AH presentation shows the philosophy by the BOD will never work even if they generated 1000 new customers per month. More customers they generate will just mean either the administrators will be brought in earlier or a huge consolidation and a massive dilution coming even quicker.

Unfortunately, there are only these 2 options as and has been proved by mathematics. One of the easiest set of numbers set out in all their accounts and interims to figure out this is a POS.

Feel sorry for those that cannot see it but we all have a choice.