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Part One – AIM Rules
Retention and role of a nominated adviser
1. In order to be eligible for AIM, an applicant must appoint a nominated adviser and an
AIM company must retain a nominated adviser at all times.
The nominated adviser is responsible to the Exchange for assessing the appropriateness of an applicant for AIM, or an existing AIM company when appointed as its nominated adviser, and for advising and guiding an AIM company on its responsibilities under these rules.
The responsibilities of nominated advisers are set out in the AIM Rules for Nominated Advisers.
If an AIM company ceases to have a nominated adviser the Exchange will suspend trading in its AIM securities. If within one month of that suspension the AIM company has failed to appoint a replacement nominated adviser, the admission of its AIM securities will be cancelled.

If you're having to ask that, I would suggest that you don't invest in shares and stick to a savings account!

They do need some life support!

Looks like much ado about nothing...any one planning to go? I might just go for the experience, and probably a free coffee and biscuit!

"However, Shareholders should be aware that any matched trade service will not offer the same liquidity as AIM". Well there hasn't been any liquidity for the last 7 months!

The AGR deal has a long-stop date of today so we should hear something after close of play I would hope.

To wake up to!

I still estimate that I will lose about £298,700 less than Oil Spunker. It's days like this that make me feel like a winner.

What I don't get is - even if I were to completely agree with you, and fully write of my investment, what are you suggesting I do about it? I can't trade as it is suspended so I can't sell. So even if you are 100% correct what difference does it make? Either it comes good and it's happy days, or it disappears and I am in no worse position than I am now. What is the real point of your ramblings?

Two conditions remain: 1) obtain Kazakh approval 2) admit shares to trading Number 2 can only be met if the shares remain tradable, however the shares can only remain tradable if number 1 is met. They must have the Kazakhs lined up for approval in the event that the EGM was passed, so we may see this rushed through. If they weren't sure that number 2 could be met then they would have mentioned it already and advised of next steps after cancellation. Wouldn't be surprised to see a second RNS after close of play.

Max Petroleum announces that all resolutions proposed at its General Meeting held earlier today relating to the proposed US$13.8 million Subscription by AGR Energy were duly passed. The Subscription remains conditional upon, inter alia, the following Conditions being satisfied on or before 1 October 2015 (or as extended by the mutual agreement of Max Petroleum and AGR Energy): (i) the Subscription Shares being admitted to trading on AIM; (ii) the Kazakh Regulatory Approvals being obtained. The Company's circular to Shareholders dated 13 August 2015 noted that, as a result of the uncertainty surrounding the Company's financial position, its ordinary shares have been suspended from trading on AIM since 2 March 2015. Pursuant to Rule 41 of the AIM Rules, cancellation of admission of AIM securities will occur where these have been suspended from trading for six months. The Company is working to fulfil all relevant conditions for completion of the Subscription, and otherwise to publish information on its financial position, in order to restore trading and avoid cancellation of its ordinary shares from trading on AIM. A further announcement on this matter will be made as soon as practicable. There can be no guarantee that the Company's ordinary shares will not be cancelled. In the event that admission of the Company's ordinary shares to trading on AIM is required to be cancelled, further information on the consequences of this will be provided to Shareholders.

According to AIM rules, if we don't start trading again on Wed then we have to delist completely...my gut feeling is we will resume trading on Wed.

If you're so certain that this has no hope, why do you continue to post so much? I invested knowing it was on the verge, but confident there was enough to bring it back. High risk high reward. You, however, think there is no way back so you continue to deramp beyond belief. Even if I believed you I still couldn't sell so what's the point in going in? What do you hope to achieve?!? To be honest, when I read your posts the phrase 'big d1ck, small willy' comes to mind...

It means we could be trading again in a few weeks!

12. Suspension of trading on AIM As a result of the uncertainty surrounding the Company's financial position, the Ordinary Shares have been suspended from trading on AIM since 2 March 2015. Pursuant to Rule 41 of the AIM Rules, cancellation of admission of AIM securities will occur where these have been suspended from trading for six months. The Company is working to fulfil all relevant conditions for completion of the Subscription, and otherwise to publish information on its financial position, in order to restore trading and avoid cancellation of the Ordinary Shares from AIM. However, there can be no guarantee that the Company's Ordinary Shares will not be cancelled. In the event that admission of the Ordinary Shares to trading on AIM is required to be cancelled, further information on its effects will be provided to Shareholders.

So you ask for a form of business plan...any form of business plan...as you can't see any way out of this. I provide you with what you desire with full explanation. You then proceed to ignore any of my rational thinking, and instead pick holes in someone else's argument by stating that the debt will be at a billion dollars by september. I honestly don't know what your agenda is...de ramping a suspended company? surely you should be concentrating on your remaining $24.5m of TNW? Oh no sorry, my mistake, I forgot that was made up.

Firstly, I'm gonna state for the record that I don't believe a word you say. For someone who apparently has a net worth of $25m, your 30 day posting history shows that you only comment on MXP, a stock which is suspended, and therefore no one could sell even if they did give your decamping ramblings a shred of credibility. The only way you could have that many assets was if you inherited a much larger sum, and that's what your currently left with after you've lost the majority of it. Most people on here have stated their investment is a punt. A binary bet wether the company will survive (at least in the short term) or wether its straight into admin. I don't think there are many who will hold long term if the share starts trading again, and in the event it does will probably make a tidy sum from the initial jump in price. Unfortunately you won't be one of them, as your buy--in price has to be higher given that you have told us you have invested c.£350k (roughly $500k converted at a generous 1.75$/£), and if your average is i below 0.535p you would need to notify the exchange that you hold over 3% of shares. Anyway, ignoring the above, the key concerns with the company mainly come down to cash flow, with both the tax payment to the Kazakh authorities and the upcoming debt capital repayments both being a significant drain on cash - specifically free cash that is no longer available following the decrease in oil price. The company has stated that the breakeven price moving forward in $85, so below that we are in trouble. The operational activity of the company is strong, with cash flow from operations of $27.5m. Therefore any realistic recovery plan will be dependent on 1) raising equity and/or 2) restructuring the debt to defer the capital repayments. Personally i don't think either of these are out of the question. We know they had agreement to sell additional equity, and whilst this is being renegotiated due to the change in oil price, I still see this happening (albeit at a different price), as fundamentally the company is pumping oil and making cash from its operations - a lot more than others are doing. We also know that Sberbank are the lender - and also a significant equity holder with just over 9% of equity. Are they therefore going to want the company to go into admin? probably not as they lose on both the debt and equity side. Obviously conspiracy theorists will say that the bank wants the company to go bust so that it can take all the assets for itself, but thats just not how things work. Reputation ally banks don't like seizing assets, they would much rather work with a client to come to a mutually beneficial solution - just imagine if Sberbank acted unreasonably and tried to seize assets...how many future customers would they lose out of fear of the same thing happening? Just not worth it. So I still remain confident.

You really do talk some cr@p

Saying "we are still in discussions".

Probably, but I use dollar signs instead of S's just to throw people of the scent ;)