MX Oil Plc
MXO.L
MX Oil Plc
SymbolISINCurrencyExchange
MXO.LGB00BKRV5441GBXLondon Stock Exchange
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RNS Number: 5597 W MX Oil PLC 18 April 2019 18 April 2019. Proposed Share Consolidation and Name Change. MX Oil plc, an oil and gas investing company quoted on AIM, announced on 15 April 2019 that the Board was considering proposing a change of name and a share capital reorganisation following its recent fundraising.
RNS Number: 3566 W MX Oil PLC 16 April 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3298 W MX Oil PLC 16 April 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3296 W MX Oil PLC 16 April 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
MX Oil Plc (MXO.L) Announced that production from Aje has remained broadly consistent at 3,150 bopd since the last update on 4 February 2019. This led to the operating partners successfully concluding the 10th lifting from the field in March 2019. Current operating costs remain as forecast and there is no planned or required capital expenditure anticipated in the short term. Further to its announcement on 4 February 2019, the Company understands that the technical work being carried out by RPS is now mostly complete with some further scenario based evaluation still to take place. This study is expected to complete in Q2 2019. Further, based on the revenue assumptions above, the Company currently anticipates that the Aje investment should start producing positive cash flow from Q1 2020 and move the Company to profitability. Separately, the company announced that Shaikh Ahmed Bin Dalmook Al Maktoum Private Office Single Person Company LLC ("Strategic Investor") has subscribed for 1,335,000,000 of the Placing Shares for £534,000 representing a shareholding of 29.86% of the enlarged issued share capital of the Company. Additionally, MXO has raised £680,000 before expenses, via a placing and subscription of 1,700,000,000 new ordinary shares at a price of 0.04p per share ("Placing Price") ("Fundraise"). Of this fundraise, £534,000, equating to 1,335,000,000 new ordinary shares representing 29.86% of the enlarged issued share capital of the Company, has been subscribed for by Strategic Investor. In connection with the placing, 800,000,000 warrants have been issued to placees with an exercise price of 0.04p per share for a term of 5 years. As part of the Company's plan to provide longer term management incentives, the Company advises that it intends to grant share options over 10% of the enlarged issued share capital to certain directors and senior management.
RNS Number: 1275 W MX Oil PLC 15 April 2019 15 April 2019. 10 th Cargo Lifting and Corporate Update. The lifting was sold by the joint operators at an oil price of $66.97 per barrel meaning that, at the project level, the company's investment produced $1.16 million revenue and net profit of approximately $600,000.
RNS Number: 1276 W MX Oil PLC 15 April 2019 15 April 2019. Strategic Investor, Fundraise and Issue of Equity. Shaikh Ahmed Bin Dalmook Al Maktoum Private Office Single Person Company LLC has subscribed for 1,335,000,000 of the Placing Shares for £534,000 representing a shareholding of 29.86% of the enlarged issued share capital of the Company.
RNS Number: 9377 T MX Oil PLC 25 March 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
MX Oil Plc (MXO.L) Announced that the company recorded continued production from the Aje field of around 3,150.00 bopd. The Aje partnership has fully paid the $9.80 million licence renewal fee, thereby securing a 20- year extension of OML 113 (Aje field) licence. The RPS technical work is now expected to conclude in 1Q19 to support a decision on Aje Phase 2 development; targeting estimated gross production of 8,000.00 to 12,000.00 bopd. Further, the company has continued to maximise its cash positions through undertaking a full review of its operating cost base.
MX Oil Plc (MXO.L) Announced that the company recorded continued production from the Aje field of around 3,150.00 bopd. The Aje partnership has fully paid the $9.80 million licence renewal fee, thereby securing a 20- year extension of OML 113 (Aje field) licence. The RPS technical work is now expected to conclude in 1Q19 to support a decision on Aje Phase 2 development; targeting estimated gross production of 8,000.00 to 12,000.00 bopd. Further, the company has continued to maximise its cash positions through undertaking a full review of its operating cost base.
RNS Number: 9114 O MX Oil PLC 04 February 2019 4 February 2019. Aje Investment and Corporate Update. �Aje partnership has fully paid the $9.8 m licence renewal fee thereby securing a 20 year extension of OML 113 licence.
RNS Number: 6688 N MX Oil PLC 21 January 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9785 L MX Oil PLC 02 January 2019 2 January 2019. MXO plc, an oil and gas investing company quoted on AIM, announces that Nigel McKim, Chief Operating Officer, has decided to step down from the Board in order to take up a new role. Wim has extensive experience of both the oil and gas sector and, more specifically, of the Company's investment in OML 113 in Nigeria..
RNS Number: 8167 I MX Oil PLC 28 November 2018. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 8162 I MX Oil PLC 28 November 2018. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
MXO plc, an oil and gas investing company quoted on AIM, announces that it has raised �1,000,000 before expenses via a placing and subscription and provides the corporate update.. ��1,000,000 raised, before expenses, through a subscription and placing of ordinary shares to provide on-going working capital. At a development cost of US$ 545 million, the NPV10...
MX Oil Plc (MXO.L) Announced that the company has changed its registered office 17th Floor, Dashwood House, 69 Old Broad Street, EC2M 1QS.
RNS Number: 6091 C MX Oil PLC 02 October 2018 2 October 2018. MX Oil/ Ticker: MXO/ Index: AIM/ Sector: Oil& Gas. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
MX Oil Plc (MXO.L) Announced, in its interim results for the six months ended 30 June 2018, that revenues rose to �0.97 million from �0.38 million reported in the same period last year. The company’s loss before tax stood at �1.15 million compared to a loss of �0.80 million reported in the previous year. The basic loss per share stood at 0.07p compared to loss of 0.06p in the previous year. The company’s cash and cash equivalents stood at �0.09 million (2017: �0.02 million).

Company Profile

MX Oil is an AIM quoted natural resources investment company targeting near term production assets in proven oil and gas jurisdictions such as Mexico and Nigeria. Mexico, the world’s 10th 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. The Aje Field, part of OML 113, which is MX Oil’s investment in Nigeria, has now commenced production.

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Locations

HQ
110 Bishopsgate
17th floor
EC2N 4AY
London
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