Well he new sweet nothing about oil and i should imaging he knows sweet nothing about anything else......... Except fund raising and that only bough profits and wages for them and the 10% mark up. seems History is repeating itself a third time, Lol.
Well they were a big improve on last year, and i'm thinking, had they not had a problem with the Nigerian Field that stopped production, then maybe MX would have made a profit, now it's up and running again, then hopefully income will start to flow..
We also have the investment in Grenada, which could increase income in the months ahead, so fingers crossed.
I feel it's far to early to write off yet as the Nigerian asset does hold a certain amount of value. so has to be a "Hold" for me.
Ever get a feeling you have been here before? Sameo sameo. why invest 5 mill in their wages and and a field we/they see nothing out of? $43 a BARREL Bear market go figure?
There must be something to these people paying a premium for shares not worth 0.7p now. i Recon it will go private once enough % has been accumulated and they will get the rest for .1p?
Yes it's been a long time since the days of WV and PPA, so hoping there are better things to come from MX,
I have a good holding in Metal Tiger and Amedeo, which i feel could produce good returns in the future, as both seem to be going the right way, both debt free with good investments and cash in the bank,
Glad to see your still about Izzi............ How long have we been here now? 9-10 years.
Ascent, 88e and sound been multi baggers for me and now only 5k shy of 2007 now lol.
PRS AND Red Emp, Roxi only15% 30% 30% off now which would clear the 5k Lol.
Hi Podgy....The placing could have something to do with their MoD (Memorandum of Understanding) with the Government of Grenada,
Although they are getting payments from their Nigerian asset, the deal with Grenada may need some funding, if, and it's a BIG IF, they get licences and strike oil, then the 1.5 billion shares could be worth quite a bit,
just have to wait and see what happens, sometimes you have wait for the ink to dry before news is released.but would be nice to hear something in the near future,
Still cant work out why anyone would pay over the top for a company earning what is it 200-250k a year for their % of PR Investment?
The No of shares has over quadrupled in a year. No news for months on income or what they received from PR? Unless I MISSED IT?
We had notification of a payment from the Nigerian Investment on 19th Oct 16th, but no updates on further sales, i hope the wells are not drained already, strange that we have not been notified of any other sales, or of any more payments to MX.
There has also been talk of a takeover of MX, but that seems to have gone flat,
Come on MX, we investors need more Info on what is going on.
The partners received 1.2m or cut is 5% is it not? 60k wow. I bet they have actually received nowt? Working capital and costs.
Good old Stef'. I suspect he has run up more in expenses and flights and wages.
All pie in the sky with no income what so ever as i see it, running at a min 15k a month loss?
Can't understand the fall, they received $1,2 million from the sale of Oil, so it seems a steady income is now assured, and Mr Cheng is still buying, which could lead to a possible takeover by MR Cheng, which would ensure China could have access to plenty of oil, which in a expanding economy it needs,
MX was prepared to sell it's stake prior to production for $18 million, now production is in progress and the revenue paid, I feel MX's stake would, or should be worth $25 million plus.
The question is, if a takeover was to go through would MX investors benefit, with 800 million shares in issue we have to be talking 3p a share, that's if we get a look in.
I won't give up on MXO yet Podgy, must be a payment soon on their Nigerian investment, remember they could have sold it for $18 million, but decided to retain it, i suppose a little let down by the investment in Mexico, which seems to have gone,
Have a couple of interesting companies that are worth a look, Metal Tiger, and Onzima, both have some good investments and no debt,
On MXO i would be inclined to hold a bit longer, but your money your choice.
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