Introduction to AIM in May 2007. Market Cap 64million at placing price of 38p per share.
Raised 39million from Institutions for building a portfolio of oil and gas assets in Central Asia.
Completed purchases of Ravninnoe and Beitars oilfields.
Strengthened company infrastructure.
Further aquisitions for 95million on 3 oilfields at North Karamandybas in Western Kazakstan. Value greater than current M Cap so treated as a reverse takeover, hence companies suspension from trading.
Option to aquire 50% intrest of two assets in Aktobe Oblast for 213million to be paid by cash or further flotation or a mixture of the two. Ownership of this asset is being contested in the courts and a decision is being currently awaited.

Became totally disallusioned and was not happy with the way shares were performing and sold out at 12p --thank God!!--still had to take a loss but it would have been alot greater had I held until today!!

r u sure u sold.....as u kep saying....wait....then wait....wait

i reckon u still got them

blueface what do WH Ireland think of the ridiculously cheaper sp now?

blueeyes2,

You sure you sold them?

When did you sell then?

Did your "source" advise you to sell? and did you "source" sell too?

lol andy

yes blueface kept saying his sources were buying more....and so was he at these low prices.

i think u should dump your city source blueface

RXP is weakening again...my guess to 2p.

.

Not in this yet? Excellent RNS this am, makes it look a very long term prospect.
imho
cyril

They've just secured 35 millions for the farm out of 35% of BNG. They are fully funded for 2009 and 2010. They are debt free. They have five successful wells now on test on Galaz. And yet the whole company is valued at 10 millions.
Surely this has to be the best value on the market? A multi bagger if ever I saw one.
I have a load of these and I am very happy to hold.

I believe the reason their's no great movement on this great news is, that 1st
production is next year? Looks like the markets attention is elsewhere at this minute,a bargain entry point for those with a long term view?
aimho
cyril

I believe the reason their's no great movement on this great news is, that 1st
production is next year? Looks like the markets attention is elsewhere at this minute,a bargain entry point for those with a long term view?
aimho
cyril

I have to agree with cyril, this is one to get on but not in the short term. People have been engrossed by other things on the market today and I wouldn't be surprised to see a move on RXP when the dust settles

Agreed, but today's news has just derisked any investment in this company which, could three-bag in quick order and still be cheap on any valuation metric.

I got in this morning, this looks a very good propect as medium funding is assured.

Holding it's own through the peaks and troughs, good times ahead I feel.

Funding and operational update

The Directors are pleased to announce that further to the Ravninnoe farm out agreement announced on 19 November 2008 and approved by Roxi shareholders on 22 December 2008, Canamens has exercised its option to fund the Ravninnoe work programme and has therefore paid US$ 8.5million into an escrow account.

In addition, Roxi is due to receive the initial advance payment of US$ 5million from Canamens in respect of the BNG farm out arrangements announced on 19 January 2009 once the Kazakh authorities have registered a charge over the group company that holds the interest in the BNG asset. This is expected to be completed within the next few days.

Roxi remains in contact with a number of potential strategic partners with the aim of securing a strategic financing package later this year,

The operational funding secured through the Ravninnoe farm out transaction will be used, to run detailed exploration programmes through 2009. Roxi and Canamens are in discussions as to the most effective operational plans for exploring BNG.

Rob Schoonbrood, Chief Executive Officer commented

'We are delighted to now be in a position to implement our plans for Ravninnoe and will imminently have additional funds to assist in the development of the Company's other assets.'


9 February 2009

'The only way is up' as the song goes

Looks like things are on the move at last. FWIW I reckon we have had a distressed seller creating an overhang of stock and this has held things back for a while. Looks to have cleared this morning, so we can start to make progress. Interesting to see the wall of buying that has hit the stock out of nowhere.

I was about to buy in this am, grandchildren arrived, when i checked back in they'ed risen 40%. I feel that a lot of profit filtered into this company, as anyone
who's checked these out would know they are well ahead of MXP in terms of
funding and resonable production?
The share overhang was the reason given for MXP rising, a little more cynical myself and believe funding news is imminent.
aimho
cyril

IMHO this company was as low risk as you could want when trading at 3p and those with a bit of patience will be rewarded.