gingar
16 Jun 2017
Re: MOIL reply to my email expressing my dis... So much for trusting them ! Same as all the rest in this game.
gingar
25 Mar 2016
MOIL reply to my email expressing my disappointment in them I sent an email to MOIL expressing my disappointment about how I consider my investment and some shares I had put away for my kids being being taken from me for practically nothing by the Bond holders and to my surprise I got a reply and must admit it is a considerate and thoughtful reply which is unusual in this business. I have reluctantly sold some of my shares but am keeping the rest in certificate form and after absorbing the email I feel there may just be some hope yet. Copy of reply to my email follows
ear Mr Stewart, Many thanks for your email and getting in touch. As way of introduction Camarco is working with Madagascar Oil and the Board has asked that I come back to you on your email. The team at Madagascar Oil share your frustration and disappointment as to how this situation has worked out. The management team has, and continues to, work tirelessly to secure a partner and alternative sources of funding for the development of the Tsimiroro field since Jefferies’ appointment in June 2015. We entered into a short term Bridge facility compromising of two tranches, with Outrider Management LLC, BMK Resources Ltd, SEP African Ventures Ltd and the John Paul DejoriaFamily Trust in September 2015 so that we were able to continue operations and our work towards securing a partner. The first tranche of funds were made available in October 2015 and we continued to progress the strategic process. Unfortunately, and as you will be aware, the current macro-economic conditions and the low oil price environment made it impossible to bring a strategic transaction to a conclusion in that time frame and subsequently our lenders informed us that they were not prepared to provide the full amount available under the second tranche of the above Bridge Facility. However they have indicated that they may provide some further funding, subject to additional conditions which includes a delisting of MOIL’s shares. Importantly this funding will allow the Company to continue its advanced discussions with potential partners for the development of the Tsimiroro field, but there are no guarantees that those will lead to a successful conclusion. It is important that you understand that the major shareholders / lenders would simply not have funded the Company going forward without an agreement to propose the delisting and that would have meant insolvency. The Company and the Board are very aware of our responsibilities to all shareholders and the Independent Directors of the Board have worked hard to protect your investment in the event of a delisting and minimise further dilution and certain other possible negative effects the delisting may have in the short term. We consider this to be of particular importance as the current share price does not reflect the potential value of the business and its assets and the future upside for shareholders should a partner be successfully identified or a strategic transaction completed in the short term. As a private Company you will still be able to participate in any value accretion from here, although there is no guarantee as to what further dilution shareholders may suffer over time. The Company has secured the following commitmentsfrom in place with the Relevant Lenders to try to protect your investment in the event of future upside in the short term., minimise further dilution and provide you with the ability to continue trading your shares in the event of a delisting. Further detail on these can be found in the Circular under section 3.4. In short these include: · No conversion of debt before 15 September 2016· No compulsory purchase before 31 December 2016· Tag-along and drag-along rights · Share trading service for 24 months (if practicable)· Website content for 24 months We would hope this provides some comfort during this period and re-assures you that the Company has done whatever it can to preserve value
exhayle
09 Mar 2016
De-listing Am hopeful that this won't necessarily destroy any value that the co has; I'm sure that a "Matched Bargain Delivery Facility" will be put in place after delisting to allow trading to continue.The buying that has gone on since the announcement and the price collapse must be down to the big boys who are intent on getting enough shares (75$%) so that the de-listing can proceed without having any hassle from PIs l;ike us.
exhayle
18 Feb 2016
News De-listing possible?Only survival route?cr--p!
Stockchaser
23 Jan 2016
Environmental Permits soon hxxp://www.lexpressmada.com/blog/actualites/madagascar-oil-le-permis-environnemental-pour-fin-janvier-52966/?utm_campaign=shareaholic&utm_medium=facebook&utm_source=socialnetwork Translated from French.... The environmental Permit of Madagascar oil should come out at the end of this month of January. The first phase of operation of oil at Tsimiroro approach. The specification containing the information necessary for the issuance of the Environmental Permit in Madagascar oil should come out at the end of this month of January, after the explanations of a responsible for the service of environmental assessment of the National Office for the Environment (ONE). A license that will add to its mining title of exploitation and transport of hydrocarbons, planned to last 25 years. This environmental permit will be issued by the NEB. The results of the study of the environmental impact of the operation have been filed by the company Mada-gascar oil to the NEB, in June 2015. A study of the impacts that is focused on the monitoring of standards at the national and international level, including the health and safety, as well as the monitoring of the commitment made by the Company vis-à-vis of climate change and to the one adopted by Mada-gascar by report to COP21. After seven months of study of the file, the Agency is now in the process of completing the latter and to proceed with the development of the Specifications. According to the explanations of our interlocutor, this specification will constitute the Environmental Management Plan (EMP) for Mada-gascar Oil Local production a public hearing has been carried out at the level of Akondromena, place of extraction, and in the surrounding villages in August 2015. In the month of September last, a public hearing was also conducted at the regional level, then national in October. Approximately three-quarters of those whose opinions were collected have adhered to the project of exploitation, explains further the responsible. The project can create up to 500 direct jobs and 1200 Indirect, just for the first phase. The exploitation of oil to Tsimiroro, First Phase "Phase 1a," could begin in February next year. The production of this first phase of operation, scheduled to begin in February, is intended for local consumption. In effect, until now, the deposit of Tsimiroro is capable of producing 6 000 barrels per day on an area of 3 054 hectares, which is still very little for an export. It also explains that the oil extracted must still be added to the diesel fuel to 15%. Currently, Tsimiroro slows down the production because the current stocks indicate up to 130 000 barrels already available.
Ripley94
06 Oct 2015
MALCYS SUB BUCKET LIST JAN 15.
alfredgeorge
23 Jun 2015
E V likes EM 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.He admits that there are risks, notably the huge capex that will need to be funded to develop the resource. However he sees the appointment of Jefferies as a Strategic Advisor yesterday as a leap forward on that front. The NPV of Madagascar's Tsimiroro oil project is said to be $2.6 billion - whereas Madagascar is capitalised, at 8p, at just £40 million.Knievil admits that you must risk weight the NPV massively for financing, political and other risks but says that even accounting for that this could well be a multibagger.
Stockchaser
15 Jun 2015
The awaited news As I see it, not long now for news, hopefully we will have news on four fronts
I) Domestic oil sales(ii) Current production levels(iii) Appraisal drilling(iv) Strategic partner update...
Stockchaser
15 Jun 2015
Re: various ... Good point but I have a better email [email protected] to go to the top....
Mike C in Bristol
14 Jun 2015
various ... politics:[link] prior years - Moil now publish an email [email protected] spot of pressure from investors never hurts, so if anyone gets a reply ..... pls. post itcheers(I recommend a good pint of KB cider)
Mike C in Bristol
27 May 2015
Re: BBC CEO interview 6m 58sMadagascar has ..... 'just been given the green light to drill off the coast of the island state'Why haven't we advertised/announced this in an RNS ?(the BBC audio was 1 month ago - 24 April)I remain disappointed that our on-land storage tanks are almost full and .... we still haven't announced any local sales.pip pip & gla long term
Stockchaser
26 May 2015
Re: BBC CEO interview Thanks for posting. Its great to see the CEO out there actively promoting the company and its prospects, it was badly needed and think this has certainly helped the recent improvement in the share price.
alfredgeorge
25 May 2015
BBC CEO interview [link] from 6minutes 40secs
Mike C in Bristol
06 May 2015
Re: Interviews with CEO Youtube - parts 1, 2, 3, 4; respectivey1 New management - [link] Development - [link] Technical aspects - [link] environment and government relations4 - [link] done stockers.no mention of local sales which, 6 months ago, were described as imminentcheers, mike c(on the kingston black cider again -yummy)
