MX Oil is an AIM quoted resources company focused on the vast Mexican energy sector following recent dynamic regulatory reforms. Mexico, the world’s 9th largest oil producer with significant underdeveloped resources, has reopened its energy sector, allowing greater foreign investment with which to develop its reserves and increase production.

at this price its a buy crazy selling at this price

agreed mary - this will catch some people out - cheap as chips right now

'Mx Oil: Had a significant pull back as private investors speculated on timelines, I believe there is far more newsflow coming than has been credited so on this basis I see Mx Oil as company likely to really catch a few out by surprise. The PSA process will not simply be '' we have signed '' The company has steps to take to secure the agreement but also a deeper level of transparency and value should come from this. If Mx Oil get a tiny fraction of something then the SP will react well... That's quoting a well known oil analyst who shall remain unnamed.'

To date MXO have incorporated the JV with GEO. The JVCo has been granted a general permit to operate as a fully incorporated entity in Mexico that will allow it to participate in the E&P bidding rounds scheduled to begin during the second week of November.

Subject to securing a Production Sharing Agreement ("PSA"), the JVCo will look to obtain an operating licence to develop E&P activities in Mexico. MX Oil, along with its partner Geo, continues to be in discussions with Pemex, the state-owned national oil company, with regard to making an application for a PSA in respect of three assets in Mexico as announced on 1 August 2014. A further announcement on this will be provided in due course but I believe this will not be too long before a PSA is agreed. These assets have already been won by Pemex in round zero and are separate from the bidding rounds in November. I do not think it will be long before we find out what potential the 3 assets have but have already been won by Pemex in round zero.

With the JV Company now established, MX Oil is well placed to develop oil and gas assets in Mexico with company-making potential. Discussions with both the Mexican authorities and state-owned Pemex are on-going and further updates will be provided in due course, as we look to build on the excellent progress we have made in such a short period of time.

MX Oil's Chief Executive Officer Stefan Olivier said, "Combined with our recent oversubscribed placing of £2 million, the proceeds from the disposal of some of our investments for a small profit will be put to good use as we look to secure our position as an early mover in the vast Mexican energy sector. We are highly encouraged by the progress we have made to date which has seen us secure a JV with a well-connected local partner with a proven track record in the Mexican energy sector, and recently enter constructive discussions with both the Mexican authorities and state-owned Pemex with a view to securing our first concessions, each of which has company-making potential. The review of the available opportunities is proceeding apace, and as a result we have decided to proceed with the incorporation and funding of the JV company. I look forward to providing further updates on our progress during this exciting time for MX Oil."

This is the way I see it :-

1. Already have a general permit to operate as a fully incorporated entity in Mexico

2. JVCo already incorporated between MXO/GEO

3. Agree a PSA with Pemex in respect of three assets (already won by Pemex in round zero and I believe we will know prior to November)

4. Obtain an operating licence to develop E&P activities in Mexico ( I believe prior to November)

5. Participate in the E&P bidding rounds scheduled to begin during the second week of November with the Mexican authorities.

6. Achieve some licenses in 2015 to continue MXO's expansion on top of the PSA agreements with Pemex for the 3 assets achieved soon within the next several weeks.

auction :-)

good value atm

We are on the move! Watch carefully.