Member Info for OilSpelunker

"I can't wait for chapter 2 :)" You mean Chapter 7, right? Unfortunately, I doubt that you will have to wait very long.

Rjordan12003 I wish you nothing but the best as well kind sir. I would take no pleasure in watching the money that you inherited and then invested in MXP go to waste.

Coggy I wish you the best of luck kind sir and I hope and pray that your investment somehow finds a way to defeat the laws of mathematical inevitability and absolute probability, and that you in fact make gobs of money off of MXP. Hopefully, my great financial sacrifice will be to your benefit. Meanwhile, back here in the cold stark reality of the planet earth, I fear that you are hallucinating severely, and I am confident now more than ever that you are completely delusional. Unfortunately, I believe firmly that the only boat that will come in for Max Petroleum will be the Grim Reaper's motor yacht. That vessel seems inbound as we type, chugging towards us at high knot through the cold dark black abyssal waters of the Caspian Sea, the Prince of Darkness himself at the helm. Unfortunately, his thirst for MXP blood is strong and his sickle sharp. Hopefully, the inevitable death blow will be accurate and painless - a quick and sharply worded RNS to the neck shall send each of your investment portfolios to the next life in search of greener pastures and higher yield. In the mean time, the proverbial MXP shareholder band plays on here whilst the ship's engine room nonetheless takes on water and the SOS calls go unanswered. The hull of the MXP tanker vessel now seems aimed squarely towards its watery grave, as the ship's own crew scurries aimlessly about with no Captain at the command. In hindsight, it would seem that I found refuge on one of the last operable lifeboats. While scathed, I will nonetheless live to sail another day. God Speed Mates.

An educated gamble is one thing. Setting fire to your cash just to watch it burn is another matter altogether. For MXP, the fix was in the second MXP disclosed that it was running behind in paying its vendors in its last big shareholder report (I forget which formal report that was). But MY's deathly tone and complete lack of enthusiasm at his farewell investor conference call telegraphed the end several months before that report actually came out. He sounded like he had a pinhole in his left lung during the call. It was almost sad to listen to. Tom Randell quit returning emails and phone calls and ceased to even try to defend the company to bagholders (doh I mean shareholders) soon thereafter. I hear that he is now the IR/CFO/CIO/VP/Treasurer/Accountant/HR/Receptionist/Janitor all rolled into one convenient pasty ghost-like pale white pencil-thin body. Note to self: Any time that a former Innkeeper gets put in charge of PR for a publicly traded company, run the other way fast and hard and do not stop until you reach water. Then start swimming. In any event, drink up this weekend mates, for the end is nigh, and when it comes, it will be swift and violent.

That's great news Muttongeoff. Always a good sign when the company you own is "waiting to hear themselves" about its own future. I am glad to hear that there is still an active phone line out there somewhere. Did it sound like a cell phone?

If you are a vendor or Kaz tax creditor or former employee or maybe even a bondholder, then I would probably agree with you about this being a salvage operation. If you are a shareholder, then I disagree. There is nothing there to salvage. The unfortunate reality of things is that you may never hear anything again. Ever. Is anybody even left as an employee of MXP for you to call to ask?

"When trading re-commences in Max, how about I see you for £50k and raise you £50k?" Please get help. The denial of the pending death of your equity investment is going to do you in. What you have is terminal. Better to seek hospice care and enjoy the final days in a narcotic induced haze. Even the mysteriously absent Robster knows when to stop beating a dead horse. The horse is dead and rotting. Carry on. PS: When I am proved right about MXP being a dead man walking, I'll meet you all at the Builder's Arms soon for a pint on me. When we are good and ****ed, you may all take me outside and glass me until I bleed out and resemble MXP. Deal?

Well don't "loose" too much there moneybags, I'd hate to see you standing next to Mike Young in the unemployment line thanks to MXP.

"6 Weeks since Last RNS, They gotta speak to us soon" They will. Liquidation will be a material event for you poor blokes. There will have to be an official RNS confirming the ill fate of your equity positions. They are probably lining up the bidders for the leftover NUR1 drill pipe auction right now. That was one very expensive hole to nowhere. Sort of like an expensive satellite that never made it out of the atmosphere due to a rocket misfire, only there was no insurance to cover the dramatic explosion (really a high pressure implosion in our case I guess). Cheers.

You checked my math? Wow. That is funny. Here is another math question for you: How much are all of MXP's shares worth combined (i.e. the whole float) after they go to $0.00 per share in liquidation? It's a trick question, so think very hard before you answer...

That would be the prudent thing to do if it were possible ivorsoreass. Too bad it's not possible. Quick question though - will they send you your share certificates when the company scuttles the ship? Also, who exactly is running the company right now? Is there even a CEO left? Office in London still? I do find it sad that some of the criticism I am getting is for posting a "Strong Sell' rec, but only because it is impossible to sell right now. I'm really not sure if that criticism is aimed at me or you gents. Did any of you unlucky snake oil connoisseurs buy MXP the week before MXP's shares went frozen?

You have 100,000 shares of MXP worth a total of $500.00 US at $0.005 per share. You get diluted by 90% when the suitor comes in with his equity deal. You now have 10,000 shares of MXP worth a total of $50.00. If the company goes into administration/liquidation, you have 0 shares worth $0.00 US. There is no charge for today's lesson as I am committed to helping those that are still in denial. Please make a point to address these demons folks. You owe it to your families.

Ivorsoreass I agree completely with your suggestion about not repeating jokes. The fundamental flaw in your analysis is that I am not joking. I am warning you insofar as what's coming. Let's take some bets here boys. I am betting on administration. If not administration, I am betting on at least 90% dilution on common equity for any deal that is made. Anybody want to bet against me instead of just running off at the keyboard?

You blokes should take grasp of your own destiny and get together and launch a takeover bid for MXP. I bet you could get the whole boot strapped operation for about 1,000 quid. Of course, you'd have to take on the millions of quid in bad debt and outstanding vendor invoices too. Mike Young might even have an unpaid wages claim liability sitting out there. That Tom Randall bloke will want to be paid to continue to run interference by ignoring emails and not returning phone calls. The Kaks will want their back taxes and penalties and tolls for allowing you to try to pump and trying to truck out oil from Zhana Mahkat. Oh wait - never mind. ZM is now almost 100% depleted. But you've still got Asenkekhan and the low altitude, low energy field that is "huge" but needs secondary recovery (the name alludes me). And you've got the pre-salt licenses. Oh wait - those are gone now since the first well was not successfully drilled! But hey you still have the Kuzbak deep prospect. So you blokes get to the pub and iron out an offer already. It will take Max a few hours to complete DD on the deal after it is tabled so time is of the essence. Ryder Scott can certify reserves. That skinny scrub analyst from the video (Brandon something?) can structure the debt/equity placement (you lot put in 20 pounds each and you'll borrow 20 pounds each on your credit cards and Brandon can do the investment banking side of things and paper it all up). Somebody will have to sort out the vendors who have not been paid. Somebody else the pumpers. Somebody else the Kaz taxing authorities. Somebody else the Sberbank loans. Somebody else the Kaz banks who froze the operating accounts. Somebody else the landlords for the buildings. And the website will need some touching up too. And oil will need to increase in value pretty quickly. But hey - it could happen. Else, you'll be using your stock share certificates this next winter to kindle your fireplaces, and thus realizing and maximizing the true value of that paper.

Yes it really hurts huh!? Does anybody ever check out Mike Young's profile on LinkedIn? Looks like nobody will touch him with a 10 foot pole. Unless I am mistaken, he is floating about like a canceled Max oil rig that was destined for presalt greatness only to have its drill bit filed down to a dull bloody nub.

Wow I touched a nerve today. Are any of my old posting mates still around?

The only posters with any sense stopped posting a long while ago (minus Robster but he knows the reality of the MAX implosion as well me). I lost well over $250,000 in Max, so I feel your pain. But it is over. Writing on here about how the company is going to somehow reactivate its shares with a magical deal in place is not realistic. Nobody would touch this think for any less than 90% of the equity now, and honestly I doubt that even then anybody would want it. Would you? To pay off the Kaz back taxes and vendors alone would take about a year, and then you have debt to deal with. And depletion of the few assets remaining which are being pumped dry as we speak. And the pre-salts? OK, who will drill for them now. It is over. But, here is a way to get some value out of MAX: Stop by the London office and request your share certificates in paper form. Then, use them to start fires in your fire places this winter. Value added! And yes, strong sell, be it on the LSE or in Kaz or in a back alley at night as rolling paper wherever.

Do you folks not realize that MXP equity is dead and gone? I'd say sell for a small % of a penny, but you can't even do that now, can you? BP is having issue paying its debt and dividend, MXP's bank accounts have been frozen and it is months behind in paying its vendors (much less its lenders), oil is still in the doldrums, and you guys are still writing about making a profit of of MXP? The only question now is how do they liquidate the company orderly. If a "deal" is done it would be for well under 10% of equity to equity holders. It is over. Many publicly traded oil companies that actually made money are in BK now. MXP is toast.