Member Info for JimPrice

Going by James Parson's history, I expect a placement to land before relist with a cornerstone investor taking a large position, maybe continental? Yes, it will dilute us but funds will be used to unlock value and quite likely for a multi TCF acquisition as alluded to in the presentation a few weeks back.

I'd say listing is probably weeks away as opposed to months and the mcap will be closer to £30 imo.

So the story can now unfold. Chinese are locked and loaded. Gas CPR and newsflow will come swiftly now. 1.5p should've been the base following the £5m raise last Feb. Expecting a significant rerate here.

Panoro have released news...out of court settlement agreed. Time for major gas development to begin... http://news.cision.com/panoro-energy-asa/r/panoro-energy-enters-into-final-settlement-with-aje--oml-113--jv-partners,c2424169

3 x 1m got it moving. MMs must've had a fair amount of supply in their pocket

News blackout will hold the SP back and this is down primarily to the legal dispute over AJE. RNS guidance has an arbitration due for end of Q1 2018. I hope we see some progress by then and through Q2. The SP will then respond accordingly. If you have the faith, patience and balls buy, accumulating and wait. Not without risk however and certainly not one for the faint hearted is MXO

Yes the market does want clarity however the big money investors are investing much higher up in the knowledge that they will struggle massively to 'dump' their stock due to the lack of liquidity. No one in the right mind would cough up £5m + £1.5m at a significant premium if they only had the information we have. AIM punters aren't willing to 'gamble' here right now so I'm quietly confident that something bigger is afoot which will ensure a liquidity event to get these investors the returns they envisage. The placing was not a bucket shop, no warrants attached so how is Stefan incentivising these fellas? I will continue to buy, it's a patience game for me.

Or could it be the £1m owed to cornhill at first oil which we never heard about?

Clean placing with no warrants attached. MXO is undervalued imv and although we don't know who bought the placing I reckon our Chinese guys are the buyers. 2018 will be the year we realise why these guys are here I hope

Parsons will do what Masterman failed to. He brings a huge investment community with him. I feel SRON was the most boring AIM share in 2017 and will be the most exciting one in 2018. Looking forward to relisting which should happen Jan/Feb time imv.

I am very disappointed with today's update. We are loss making, projections to hit profitability in 2018 will not be met and I feel the current mcap is no longer justified. The PoC failure is a huge setback for the company as it shows the big players are not convinced by our tech. The BBC has been under huge pressure to reduce costs yet decided against continuing their 1.5 year partnership with FBT. Any big deals won't come easily in my view and the company has grossly failed to deliver shareholder value. They've had 17 years and this is simply not good enough. The prelims to be released in March will be poor and despite having a decent cash balance at the close of H1, with the rising R&D/recruitments a cash call will be needed at some point. It is difficult to put any positive spin on the news I'm afraid. I hope Ian does turn it around.

Whilst I share your sentiment photo I disagree that nothing has been achieved in 4 years. MXO is not the same company it was 4 years ago. They now have an interest in a quality asset and are producing revenues with oil >$60+. The valuation today of £6m is not reflective of this. 4 years ago they had nothing to underpin their valuation other than jam tomorrow and were trading effectively as a shell in a rapidly declining oil sector. It is cheap on the basis that they are trading well below NAV and bear in mind the 3 oil lifts and MYN investment return should supply additional uplift. The JV partners have committed to no further CAPEX outside of revenues. The SP may drift but it will rise VERY fast when liquidity returns. The biggest red flag for investors is a possible discounted cash call but I just don't think that will happen. May I add, 4 years ago Stefan had zero skin in the game and now he has £100k of stock plus c.50% of the company in the hands of HNWIs at premiums to today's price. if we can't push him out they will!

I have bought some more this morning. Sentiment in the dumps, valuation is absurd imv and no one wants to know. Buy when the market is fearful, I feel things could change very rapidly here on the right news. I wouldn't chuck the kitchen sink at it but remember HNWIs were coughing up millions at premiums and bags to the current price. The only downside could be a raise, interims showed us in negative WC but since there have been 3 oil lifts and MYN investment has come through. I wouldn't be surprised if SO gets his finger out in the near future to get this SP moving somewhat. As long as the company is not bottom line profitable they will need cash but I can't see that happening down here hence why I am buying.

Sentiment is shot which has created this opportunity. MXO isn't a cash shell, it's underpinned by a quality asset and revenues coupled with a recovery in the O&G space. �7m mcap, should be bags from here and valuation will come into line. The company is also being supported by Men with serious money and we have no reason to believe that anything has change don that front at this stage. Agreed, there is uncertainty but I like to buy when others are fearful and I am confident this will reward in time.

I've been buying over the past few weeks. Clear disconnect with NAV which will only get wider with the rising oil price. H2 will see revenue realised for 3 lifts at better flows, H1 only factored one lift with lower flows. High net worth individuals hold over 50% of the company at bags to the current SP with the last raise at 1.5p. I don't have any fear of a discounted cash call to current price. Anyone who knows Stefan knows that when he needs cash he will engineer an SP spike through PR. His silence coupled with no Chinese selling is indicative of their support. I will continue to buy any loose stock. �7m mcap with a proper asset and revenues is ludicrous. GLA

https://twitter.com/TVBEurope/status/935837577004945408

He is in Lagos I believe and you can catch him at: Stefan @ mxoil . com

What's his idea of long term...FBT been around for 18 years and no return on shareholder value as yet to be fair

There were 3 lifts according to Panoro's Q3 operational report: "The Aje field produced an average of 403 barrels of oil per day net to Panoro (12.1913%) during the quarter, this compares to 289 barrels of oil per in Q2 2017. Production from the Aje field has continued from the Aje-4 and Aje-5 wells. Liftings from the field were completed in July, September and November. Continuous efforts to reduce costs at Aje have already resulted in a material decrease in the overall operational expenditures. Other commercial arrangements and adjustments are being implemented and are expected to improve operating margins for the Aje JV Partners." http://media.ne.cision.com/l/irtahjzw/mb.cision.com/Public/399/2393088/9e750ff45fc3aff0.pdf

I have been buying the dips here. Fundamentally undervalued against NAV and with 3 oil lifts in H2 plus sale of Mayan investment I don't feel a cash call is due. If they do raise SO will either get the money from the Chinese, he clearly has no interest in retail and if this is the case I imagine we will see another premium raise. Also I don't believe the gas project at AJE will require any CAPEX in the short-mid term, not until the legal case is resolved. Rising crude price and cuts in in OPEX at AJE will give us vastly improved figures for Q4 so risk reward from here is a little more attractive than it was a few months ago.