MX Oil gains permission from Grenada to explore boundary between Trinidad, Tobago
20th Dec 2016 08:04
(ShareCast News) - Oil and gas investor MX Oil signed a memorandum of understanding with the Grenadian government to explore in the maritime boundary between Trinidad and Tobago. The company agreed to invest in the exploration and development of hydrocarbons in a subterranean area which adjoins the
Read moreMX Oil starting to benefit from Nigeria investment
19th Oct 2016 12:27
(ShareCast News) - Oil and gas investing company MX Oil announced on Wednesday that PR Oil and Gas has now received $1.2m from the sale of the first production of oil from the Aje Field. The AIM-traded firm said PR Oil & Gas is the holder of its investment in OML 113, on the Aje Field in Nigeria. "
Read moreMX Oil widens loss as it continues development
23rd Sep 2016 14:32
(ShareCast News) - Oil and gas investing company MX Oil announced its unaudited half-year results for the six months to 30 June on Friday - a period in which it once again made nil revenue, but continued its development programme. The AIM-traded company did point out that Aje Field, part of OML 113,
Read moreMX Oil taking full ownership of Nigeria project
10th Aug 2016 16:48
(ShareCast News) - Oil and gas investing company MX Oil updated the market on Nigerian oil and gas licence OML 113 on Wednesday, which it has been investing in through Jacka Resources Nigeria Holdings, which owns 100% of the licence holder PR Oil and Gas. The AIM-traded company said that, given the
Read moreMX Oil abandons Mexico to focus on Nigeria, maybe
11th May 2016 14:17
(ShareCast News) - MX Oil has abandoned its much-hyped Mexican development plans when its local partner failed to stump up the cash for an asset swap deal, leaving the company focused on the sale of its Nigerian asset about which it is feeling some seller's remorse. MX, which had in December secured
Read moreOnzima disposes of short MX Oil investment
11th Apr 2016 14:10
(ShareCast News) - Onzima Ventures disposed of its 20 million ordinary shares in MX Oil on Monday, making a net gain of £10,176 or 6.8% in the process since investing in March. The AIM-traded company retained four million warrants exercisable at 1p per share for a period of three years. "Pursuant t
Read moreMX Oil consolidates assets in Mexico
17th Mar 2016 16:13
(ShareCast News) - MX Oil was consolidating its Mexican assets on Thursday, signing a binding agreement to assign its 55% working interest in three of its four Land Contract Areas to local partner Geo Estratos, in return for Geo's share in the remaining area - Tecolutla - plus $1.8m cash. The AIM-tr
Read moreMX Oil raises £2.5m ahead of Nigeria deal
14th Mar 2016 15:09
(ShareCast News) - MX Oil shored up its available funds as it prepared for a quick-turnaround transaction in Nigeria on Monday, announcing the successful raising of £2.5m via a placing of 333,333,333 ordinary shares and 66,666,667 warrants over ordinary shares. The AIM-traded oil and gas investing c
Read moreSmall caps news round-up
4th Feb 2016 15:50
(ShareCast News) - Forbidden Technologies was celebrating its first contract win for its social video platform on Thursday, after a number of proof-of-concept trials. The AIM-traded technology firm's 'eva' platform described itself as "the real video social network", and allows users to create profi
Read moreMX Oil completes first step at Tampico-Misantla
4th Feb 2016 15:36
(ShareCast News) - MX Oil completed the first of many steps on the road to production at its four Land Contract Areas (LCAs) in Mexico on Thursday, in conjunction with its local partner Geo Estratos. The AIM-traded oil and gas investing company said the four LCAs - Tecolutla, La Laja, Ponton and Pas
Read moreMX Oil surges on Nigerian offer
25th Jan 2016 09:43
(ShareCast News) - Mexico-focused MX Oil has received an offer for its Nigerian assets that values them at "several multiples" of the entire company's market capitalisation. The AIM-listed company, which had been intending to raise funds through a share placing to bring its Nigerian licence into pro
Read moreMX Oil confident fracking techniques will reap major Mexican oil
7th Jan 2016 13:31
(ShareCast News) - MX Oil said the four licenses it successfully bid for in Mexico's recent oil auctions have all been drilled before, but with modern fracking techniques it expects to significantly increase flows. All four onshore concessions in the prolific Tampico-Misantla Basin, known as the Pim
Read moreMexico optimistic for oil output amid mixed results to opening up
4th Jan 2016 17:25
(ShareCast News) - As it opens up its oil sector, Mexico's energy ministry has calculated that the Latin American country could reverse the last decade of declining output, with a best-case scenario that predicts a 45% rise over the next 15 years. The Mexican government's 2015-29 outlook ranged from
Read moreMX Oil makes Mexico's bid shortlist for new onshore licences
2nd Dec 2015 10:20
(ShareCast News) - MX Oil and its local partner have been included on Mexico's bidding shortlist for new oil exploration licences as December sees the country continue opening up itsoil industry to foreign investors for the first time in nearly 80 years. MX and partner Geo Estratos notified by Me
Read moreMX Oil on track to becoming a multi-asset company
19th Oct 2015 12:20
(ShareCast News) - MX Oil said its Aje-5 well offshore Nigeria has been successfully completed and the reservoir has been perforated in the upper and lower oil bearing zones, meaning it's on track to becoming a multi-asset company in the very near term. The AIM-listed oil and gas investment group sa
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