Member Info for D14M0ND

To date MXO have incorporated the JV with GEO. The JVCo has been granted a general permit to operate as a fully incorporated entity in Mexico that will allow it to participate in the E&P bidding rounds scheduled to begin during the second week of November. Subject to securing a Production Sharing Agreement ("PSA"), the JVCo will look to obtain an operating licence to develop E&P activities in Mexico. MX Oil, along with its partner Geo, continues to be in discussions with Pemex, the state-owned national oil company, with regard to making an application for a PSA in respect of three assets in Mexico as announced on 1 August 2014. A further announcement on this will be provided in due course but I believe this will not be too long before a PSA is agreed. These assets have already been won by Pemex in round zero and are separate from the bidding rounds in November. I do not think it will be long before we find out what potential the 3 assets have but have already been won by Pemex in round zero. With the JV Company now established, MX Oil is well placed to develop oil and gas assets in Mexico with company-making potential. Discussions with both the Mexican authorities and state-owned Pemex are on-going and further updates will be provided in due course, as we look to build on the excellent progress we have made in such a short period of time. MX Oil's Chief Executive Officer Stefan Olivier said, "Combined with our recent oversubscribed placing of £2 million, the proceeds from the disposal of some of our investments for a small profit will be put to good use as we look to secure our position as an early mover in the vast Mexican energy sector. We are highly encouraged by the progress we have made to date which has seen us secure a JV with a well-connected local partner with a proven track record in the Mexican energy sector, and recently enter constructive discussions with both the Mexican authorities and state-owned Pemex with a view to securing our first concessions, each of which has company-making potential. The review of the available opportunities is proceeding apace, and as a result we have decided to proceed with the incorporation and funding of the JV company. I look forward to providing further updates on our progress during this exciting time for MX Oil."

Here is a thought to ponder on until the next Corporate Update from the company: I believe all who are invested here-whatever your time horizon- agree wholeheartedly that the BOD and CEO have made rapid progress since 25th July rebranding a shell vehicle to a company aspiring to agree and sign a JV jointly with their Mexican partners; Geo with Pemex in the coming weeks. So I have been thinking that we are really spoilt and impatient lot as the sp is up more than 55% in 45 days since the placing on 1st August and we are not STILL satisfied and we feel the CEO should sign the deal within days so that we get the sp to my PERSONAL target of 10p, 12, 15p, 20p or WHATEVERp. Here is my alternative thinking on this investment based on my scant research: 1. The CEO is apparently in Mexico according to well informed colleagues on this BB for the whole of September. I therefore believe NMXO will finalise with Pemex and GEO that : a. They have the credentials to pre-qualify for round 0.5 before the end of September b. Pemex will also state in writing the conditions that MXO/GEO JV Company need to meet to take part in round 0.5 potentially by the same date IMHO. 2. Thereafter; MXO/GEOJV will have a number of weeks; we can all guess whether it is 2,3, 4 or more weeks to satisfy the above conditions. 3. IMHO; once the above conditions are satisfied; Pemex will then sign a binding PSA Contract for 3 licences with the JV Company representing MXO/Geo. I hazard a guess; this is likely to occur some time between end of October and end of November 2014. Just as importantly; do not over look the fact that MXO/Geo partnership can also take part in Round 1 which commences in January 2015 and/or INDEED; can sign more contracts and enter into more JVs under round 0.5 on an on going basis between now and January 2015. For example; GEO is well known as a medium sized Oil Services entity amongst other things in South America and Texas and Dallas Oil hub. So I would not be surprised to see MXO/Geo contemplating Oil Services contracts/agreement after theses 3 licences are agreed and signed in due course.

Here is a thought: Given the close relationship between Pemex and Geo; it is entirely possible that ( Whilst actual contracts even under Round ZERO can not be signed until 60 days from Round Zero date of 13th August 2014 is elapsed): 1.Geo and Pemex will discuss what steps MXO plc needs to take NOW to pre-qualify for contracts under Round Zero process 2. Agree and sign a MOU that subject to X,Y and Z being in place within the next few weeks; MXO will pre-quality for contracts as yet to be confirmed. 3. Confirmation that MXO plc is pre-qualified sometime in second half of September for Round Zero for Contracts in exploration or Oil Services or etc,etc 4. Confirmation that a JV has been signed under Round Zero provisions with MXO plc in anyone of the above areas with a likely announcement in the second half of October 2014 Am I thinking along the right lines or is there a simpler or more complicated approach here?

Here is a thought: Given the close relationship between Pemex and Geo; it is entirely possible that ( Whilst actual contracts even under Round ZERO can not be signed until 60 days from Round Zero date of 13th August 2014 is elapsed): 1.Geo and Pemex will discuss what steps MXO plc needs to take NOW to pre-qualify for contracts under Round Zero process 2. Agree and sign a MOU that subject to X,Y and Z being in place within the next few weeks; MXO will pre-quality for contracts as yet to be confirmed. 3. Confirmation that MXO plc is pre-qualified sometime in second half of September for Round Zero for Contracts in exploration or Oil Services or etc,etc 4. Confirmation that a JV has been signed under Round Zero provisions with MXO plc in anyone of the above areas with a likely announcement in the second half of October 2014 Am I thinking along the right lines or is there a simpler or more complicated approach here?

assuming there are buyers. If not, the MMs position will get worse and if more sellers continue, this will still go down IMO

to be able to sell at 2.75p and the traders will be selling and back to 2p at close. Just my thoughts. Lost here twice so not planning to trade here again until it is a complete shell with a stratedgy

after the last suspension. Disappointed when it went to around 18p and I had sold 250k at 10p. But I feel for those who are still invested. I know how it feels as I lost £32k in Neos recently. Do not think TPET has anywhere to go but will become an investment shell IMO

Evening mate. Bed early tonight as I have to go below Watford Gap and enter the South LOL I assume I am the only investor going to the AGM so will update all of you but will be when I return home. Train is just after 6am so an early start!! I will have to roll out of bed a bit earlier than getting up to see RNSs at 7am. Be nearly in London by then :-)

Tilly - you are a ramper. Lol Last time I saw this was when Coms was 6p ish and went to 11p. Hope this is similar :-)

You need to use L2 with dummies and is only really any good for trading IMO.

Was going to say something similar and then I saw your post. So deleted what I said :-)

Photo - I look at L2 along with dummies just for entertainment really. L2 on its own does not give you anything really but the cost for a year is small. However, you do seem to get used to the patterns and future actions from just watching and it looked very familiar for the SP to rise several ticks if the buying volume outweighed the selling volume and a nice little ladder had been created with all the 5 MMs on different prices.

All looking good here. Too many beers and curries for me to do the Great North Run. Age does not help either. Just leave it to Astar and then MX Oil

at 9.34?? Let us see later

Ready for the next run North :-)

Evening whatcher - hope all ok mate. Shame there is no beers and a curry on Thursday. That is twice for you Lol

Sorry to be repetitive. Just asked as I live near by and thought you may be local :-)

Anything to do with Carol Decker. Lived in Shrewsbury Shropshire for the majority of my life

The name change will be agreed at the AGM as it is item 7. Never been invested with a company that changes it's name but could change on Friday morning if agreed at the AGM on Thursday

Better prediction a few hours ago when it was down over 9%. A bit easier when it is rising and not even 1% down. MMs been doing their normal stuff and filling a buy order IMO. May see after close today or tomorrow. Just my view which is quite often wrong!!