gfb15 Nov 2017 16:17
I was here (watching) since ASTAR and PPA before that. I bought in, in March of that year and there were very few shares in issue although I cannot recall how many. In the first few months, it did OK and then hit 5p on 'nothing', but soon, more share were issued and it hit 1B shares just outside the year.
SO appeared to be on our side but I didn't believe him and said that his true colours would show about a year down the line, which it did. It all looked very rosy with Mexico, GEO & Pemex, then there were the 'Blocks' and we all assumed we'd be 'rich'. After that, there was the 'sale' to the Nigerian's, or at least the potential sale. Since then, it's all gone to pot to some degree.
No mention of Grenada, loads of share in issue, no word from the Chinese and rarely a word from SO himself. Probabilities with Oil & Gas and some new venture funding at some point, plus our running costs/Salaries, etc. will absorb a lot of existing profits, therefore a funding strategy will occur. Down then will go the SP unless the Markets favour MXO, but I think the MMs have given up with us. No money in it for them?
Put that lot together and tell me how you think we'd get 5p based on what meagre profit there will be. Whilst the PoO is increasing a little bit, it won't even nudge the SP although the sale of New Gas will as and when. The 5p just won't happen and I cannot foresee any time soon that figure. However, if you had said 1.5p by mid 2018, that's more likely, so if you consider what we have and for how long, then look at the current Share Price, bung it altogether over the last 3 years +, and we are at 0.50p, I just cannot expect this SP to be THAT much more in 6 months, especially if SO keeps issuing millions more shares every couple of months. It will just dilute everything even further.
I'm not saying MXO is a dead duck, but as far as our Share price is concerned, this will hover around where we are and 1p +/- until Kingdom Come. See if you can latch on to something which you think will justify another 4.5p, I can't, not so sure anyone else can unless by some stroke of luck, dear old SO pulls loads of Rabbits out of several Hats. Naaa!
Best try to get rid of the blighter and let someone else have a go? lol There's �150K in it for the winner!
Sign In
Follow the stocks
