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Who knows? I prefer it not trading whilst we await the outcome, dont think my heart could take trying to figure out all the big buys and sells as to our future. Perhaps it will help focus some of the bigger players in max, as they cannot jump ship, or buy anymore if its good news either.
Tom randall in meetings, couldnt catch him despite several attenpts... Could a RNS be on the way !
Email tom randall at max tr@maxpetroleum.net See if you can get anything out of him. You would assume good that we have not heard anything, which must mean discussions are ongoing and have not stopped/come to an end with admin being the result. We must hope they are still round the table discussing the deal. But no news has not been our friend with max, they could equally be using the silent time to wrap up the business to give to the admin guys.
How times change, roxi was the laughing stock, max had all the potential. They drilled the deep.. We are on brink of admin! $42m to not even finish one deep ... Roxi $11m; fiscal mismanagment
Still here... I will go down with the ship :) or be rewarded well if they pull through! Max is worth far more than 0.16p if they get the deal through. They were trading at 2p when oil was $52 dollars, nothing fundamental has changed within max, or discoveries or bopd since then... Just the price of oil has dipped, and we need renegociate our bank terms and get the AGR investment as was still the case when trading at 2p, oil will rise to over $100 a barrel again at some point imo, which would leave us with a very small market cap, increasing bopd, and room for a share price rise, with bank terms based on sub $50 prices. All or nothing here, RNS 7am tommorow could be either way, hold onto your hats!
Could be good news given the wait. Or equally bad news as they are wrapping up the business to hand to the recievers. Still very dodgy here. Silence and no news has never been our friend with max. But must admit, i am feeling slightly more positive, tax bill due on 5th, so one has to think if there was nothing being discussed regards a plan to save the business, then we would of heard by now and max would of been put in admin. Could easily see a 700% rise once relisted, with a new bank facilty based on very low oil prices (bodes well for future increase) and investment from AGR then a strategy of what they plan to do with the money, if they get nur-1 back on the table we could be looking at 5p within 18months imo
Tax bill due on 5th march.. Can only hope something has been agreed.
The delay is due to ongoing discussions, otherwise the company would of been put in admin by now and handed over to the receiver almost inmediatley. Monday RNS saying deal has been struck could see this over 1p quite easily.
Due on 5th... Think we will get a rns today or tomororw, as surely they will know if they have a deal
Farmed out nur-1 If not at first, certainly after they hit several problems, a cut of something is better than 100% of nothing! They should of brought shallow finds online much much quicker, and thus sold at export prices. Too many mistakes to mention. But not over just yet.....with the AGR deal and family on board, nur-1 could be a possibility again. We just need the bank to amend our debt terms
Nur-1 went over budget and ended up costing $42m - roxi could of drilled 4 for that, plus we didnt even hit the bottom. Fiscal mismanagement
Is there a case? I would need to look through the rns again to see how they worded the agr investment
I agree, the way they handled the AGR deal was incompetent at best, max should of had them sign it straight away when we voted yes. But agr are still at the table and WILL invest as long as the bank plays ball and extends the maturity and terms of the debt. Not over here yet but its not looking great tbh. It comes down to the bank, if they play ball then everything else will follow imo
Doesnt sound like a insolvency specialist which is good news. They seem to specialise in equity raising - which could be good. Certainly not over yet - if it was why suspend the shares, they would of just put it in admin. As tom randall said discussions are ongoing albeit not looking great.
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On the face of it.. But trying to find a positive in that perhaps it will focus the IIs and the bank into doing a deal, the bank own a stake in max too, with the shares temporary suspended, no one can jump ship and sell out. So maybe its a smart move on max's part, but agree clutching at straws here
I agree, i meant the volume/ money spent on either big buys or sells, that will tell us something - before the rns comes out. If high volume and lots of big buys then i think its deal done. If low volume and big sells, then thats the ones in the know getting out before the rns . Either way, the volume, level 2 and spread will give us a good indicator over the next few days. But who knows, RNS could be 7am tommorow.... If positive i think we could see 1p quite easily, AGR made their offer at 1.64p. Hoping we hit the oil price bottom quite soon, it always gets over done like in 2009 to $25, but very quickly bounced to $125 - the great thing is, if we can get the new banking facility it will based on today low $40-50 valuation, so once the oil market rises to over $100 a barrel again, with the AGR funding, and increasing our bopd via development wells, we will be looking quite good... Could be 3-5p range in 18 months.
The tax payment is due.... Surely we will know before then if they have struck a deal and can make the payment. I expect monday - thursday trading to be extremley exciting and volitile - again watching the volume and level 2 for any suspect signs that a deal has been struck, follow the money for confirmation either way
Anyones guess. Its 50/50
Due to the sensitive nature, he couldnt discuss anything specific with me, other than to say discussions are ongoing and they are hopeful of a deal to avoid administration. So i am none the wiser really.