Welcome to the new thread for Max Petroleum. Here's a link to the MXP web site and a presentation that everyone should read.

http://www.maxpetroleum.com/companypresentations.asp

2.5m buy @ 2.045p in auction?

cyril

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cyril

bear banking a large profit?

4 February 2009




The Company received notification on 4 February 2009 that, as at 2 February 2009, Credit Suisse Securities (Europe) Limited had a beneficial interest in the Company of 19,151,954 ordinary shares, representing 5.24 percent of the total voting rights attached to the issued ordinary share capital of the Company.

Somebody loves them, personally i'm waiting for news of funding before taking a
position as it has enormas acreage.
cyril

Like a moth drawn to a flame, I upped my holding by 50% yesterday at under 2p. Either I am inspired or totally mad - time will tell. FWIW I still nurture some hope that the company can rescue shareholder value from this sorry mess. They came close to a major deal last month and talks are still ongoing. The assets are still there and are some of the best in the world. I just hope that MXP will be the company to develop them. From here on in it is clearly either sh!t or bust.

pond life I think you and I are the only two left in this one.

youi can hold hands as you drown then

Janet; there's quite a lot of large buys taking place today, seems news is close?
2.5m trader in profit, at least for a short while. Still i'll wait, best of luck.
cyril

Surprised nobody has thought to post on the removal of the CEO?
Watching and waiting for now,but here's an appraisal from a very
knowledgable and respected poster from another thread.


My hypothesis:

(a) world-class assets now proven by very extensive siesmic

(b) and the majors (we don't need the names on here, do we?!) know (a)

(c) the key directors would never allow Max to fail

(d) nor would the heavyweight shareholders (forget the wassocks)

(e) nor would MacQ

(f) renewal of the road tax on the Vauxhall Astra was never an issue

(g) there are several shedloads of low-hanging fruit in the shallows and intermediates

(h) Max needs a farm-in partner on the deeps

(i) nobody can negotiate properly from a position of weakness

(j) Max will strengthen its negotiating position by getting some cash, and announcing fruit-picking activities

(k) the 'face' of Max needs to be koshered-up after MJ's failed promises, i.e. the reorganisation

(l) it will soon be make-your-mind-up time for the recalcitrant would-be farminees.

(m) and it's then "all systems go!"

but imho DYOR etc as always

cyril

and herewith an irrefutable appraisal from the market .....

cynic yet another VOG?

prob not even that good!

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cynic - love your negative take on things, makes me laugh. Keep posting. I live in hope that one day I will laugh last - and very loud.

By the way, upped my stake again today. No shares - run out of cash - so took out a September spreadbet instead. The cost of the bet is cheaper than buying the shares on a seven month view.

Pond life it'll be the result of financing/farm out which decide the future of this company, not the present market trading (which offer many many opportunnities
at present). The situation is not unlike that of RPX (which is without doubt a much safer option and imo a snip at 3p), which secured funding and a sharp rerating, SP
wise.
My belief is that funding will follow for the reasons in a previous post, which was the result of much research by a fellow IP who is a trained negotiator and most astute. But it is not certain and could go pearshaped, the recent removal of the CEO would suggest an obstacle has been removed as it appears they are in discussions with a 3rd Party?
Good on you for sticking to your beliefs (the recent 2.5m could have made
upto 100,000's profit which was frowned upon), me i will keep my powder dry and wait for confirmation. But best wishes to you on your investment.
cyril

niceonecyril - thanks for your good wishes. I am also into RXP in a big way - I have a bigger stake than in MXP. RXP looks very safe indeed and the management has shown an ability to do good deals in the current difficult environment. I have no fears for RXP. A real multi bag prospect once things start to improve. The wheel will turn sooner or later.

it's the way you pick 'em, to steal the words of an unmentionable and appalling and decrepit irish so-called comedian

Hi cynic - the MXP chart looks as bad as any I've ever seen for a company that is still trading, and I have lost a large bundle of loot on this so far. I do however firmly believe that we have seen the nadir for MXP and the departure of the CEO, Mark Johnson, is very good news. I think we will now start to see progress. Drilling news, funding news and farmout news could all come within the month and FWIW I reckon we'll see the sp far higher than this by the end of February. No doubt you'll be around to remind me of my folly if I am proved wrong.

Duplicate post removed.

i would certainly not do so with malicious intent as it's not my style, but shall try to remember to twist the knife just a little!