Verditek fesses up that there’s been an Italian job but what is the near insolvent company not admitting to?
Just how much do greedy fat cats Julie & Ali at Sosandar need to be motivated? £50,000 becomes £2m as punters get screwed
The update is detailed and long but the bad news is saved for the end. Madagascar Oil (MOIL) is down to its last $1.3 million (cash minus trade payables) but owes $14 million. It gets worse.
Madagascar Oil (MOIL) had a busy week and that sees its shares now trading at 9.25p-10p, up on our tip at 9.25p (offer), but there is far more to come. Here’s why.
Featuring Lekoil (LEK), Kalimantan Gold (KLG), Marechale Capital (MAC), Madagascar Oil (MOIL), Oracle Coalfields (ORCP), Quadrise Fuels (QFI)
Infamous bear raider Evil Knievil is long an oil stock. That stock being Madagascar Oil (MOIL). Knievil says that wider family interests now own around two million shares and he is thinking of adding to that holding.
Featuring Alba Mineral Resources (ALBA), Frontera Resources (FRR), Madagascar Oil (MOIL), Oracle Coalfields (ORCP), Provexis (PXS), Yolo (YOLO)
Madagascar Oil (MOIL) has announced “the award of the Development Mining Title for the Block 3104 Tsimiroro Production Sharing Contract by the President of Madagascar” – this representing the first production sharing contract to enter into the development phase in Madagascar.
The CEO of resource specialist broker VSA is enjoying a rally in resource stocks and so reminds his clients today of his top 5 small cap and mid-cap plays in the sector: Andrew Monk writes:
After falling to 3.25p last month, shares in Madagascar Oil (MOIL) have bounced on the back of an update on operational progress and “an active and very positive dialogue with OMNIS, the Ministry to the Presidency of Mines and Petroleum and also representatives of the office of the President of Madagascar, with regard to the approval process for the Block 3104 Tsimiroro Development Plan”.
So we start the year with the oil price still at the front of our minds and falling and I have to say I'm not sure what stops it going quite a lot lower and $40 seems to be the next low point possibly. Now I don't want to spoil what we are writing in the next VSA Quarterly as I know you are all looking forward to reading it - such an important release - haa haaa, well we put a lot of effort into to it so I'm not giving it all away just yet but do look at this chart of the oil price since 1861 in real terms and tell me if you think oil might go lower and stay low.
Okay, Edison is paid by companies to produce reports so take this all with a pinch of salt (or seven) but the prostitute of the research world reckons that shares in Madagascar Oil (MOIL), now 10.125p are worth 29p or 52p. It writes:
Monday’s free pizza and booze seminar at Real Man is looking like a celebration day and so thanks to the sponsorship of Chapel Down, the producers of the absolutely fabulous English (better than your Froggy muck) champers there is a glass of fizz for each attendee as we raise a loyal toast to Rob Terry for providing us all with such entertainment.
Madagascar Oil (MOIL) yesterday raised £12.2 million through an equity placing which has been fully subscribed by three of the company’s largest shareholders. It plans to offer all shareholders the chance to get in at the same share price (10.25p) via an open offer which could raise another £3.9 million. Broker VSA – which acted on the placing – reckons this is cracking news and has increased its target price from 70p to 75p in a note out today.
AIM listed Madagascar Oil (MOIL) this week announced that it had received permission to begin a six month test export programme of crude from Tsimiroro – its flagship asset.
VSA Securities has today initiated its coverage of Madagascar Oil (MOIL) at 16.5p with a claim that the shares are worth 70p.
The team at Shareprophets regards all three stocks in our takeover t1ps for 2014 as potential bid candidates for very different reasons. We are not saying that bids will come but we would not be surprised if they did before next Christmas, or possibly sooner. Third up is an oil stock that is trading at 10.5p and is valued at £55 million – Madagascar Oil (MOIL).
In a detailed note on oil in Africa published last week, investment bank Ecobank sounded a bullish note on developments in Madagascar and also0 on the prospects for AIM listed Madagascar Oil (MOIL).
Our very own penny stock resources guru Doc Holiday has challenged our friends at Mining maven to a share tipping contest. Today is day three. C’mon Doc:
Madagascar Oil (MOIL) has today confirmed a raft of board changes. We kind of knew these were happening anyway – it was part of the deal for the semi-emergency refinancing agreed earlier this year. Will that be enough to amend the 18 month downtrend in the shares which closed today up 10% at 10.5p valuing the company at £61 million?
It has been quite a long wait as far as bulls of Madagascar Oil have been concerned in the sense that their stock has been bumping along the bottom since late March.
Search ShareProphets |
Recent Comments |