Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MADAGASCAR OIL LTD. We currently have 14 research reports from 2 professional analysts.
|31Mar16 11:27||RNS||Result of SGM and Delisting|
|14Mar16 18:01||RNS||Completion of Tranche 1 Placing|
|11Mar16 18:00||RNS||Posting of circular|
|09Mar16 07:00||RNS||Timetable for proposed Delisting|
|04Mar16 07:00||RNS||Independent Directors' Election, Tranche 1 Placing|
|02Mar16 07:00||RNS||Conditional Framework Agreement|
|18Feb16 09:30||RNS||Company Update|
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MADAGASCAR OIL LTD
MADAGASCAR OIL LTD
VSA Morning Flow Test
02 Mar 16
Madagascar Oil (MOIL)# has announced that it has entered into a framework agreement with several of its lenders to provide further financing to the company. The lenders have committed to invest US$2m by an equity placing at 1p per share in the first tranche if MOIL chooses to call on the commitment.
New Funding Ahead of Strategic Partnership
05 Oct 15
MOIL has released its H1 2015 results for the period ending 30 June with stable production at 325boe/d. It recorded a loss after tax of US$6.6m (-12% YoY) and a cash position at the end of the period of US$1.8m (-82% YoY) as a consequence of not reaching full production, however, H1 2015 was in line with our expectations.
Bridge financing agreement in place
30 Sep 15
Madagascar Oil (MOIL) has announced the agreement of a $21.89m bridge finance facility, supporting the group through its partner selection process. MOIL is currently seeking a strategic partner for development of its 1.7bnbbl (contingent) Tsimiroro heavy oil field in Madagascar. The group has announced good progress and expects a deal to be announced by end Q116. In the same release, the company announced that falling service costs had enabled it to develop a plan to reduce the initial development costs at Tsimororo.
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
Bang to rights
21 Mar 17
Tullow unexpectedly announced a US$750m rights issue on Friday at a 45.2% discount to the previous close. While this step confirms our investment thesis, the scale of the discount and the timing look like a slap in the face for investors and/or indicative of a weaker financial position than we are modelling. We publish revised estimates to reflect the impact of the issue and cut our Target Price to 215p per share (from 245p). We maintain our Hold recommendation.
Panmure Morning Note 22-03-2017
22 Mar 17
Acacia Mining and Endeavour Mining confirmed merger talks have now ended with Endeavour claiming an inability to “create adequate value for Endeavour shareholders”, most likely, we believe, given the disappointing ruling from the Tanzanian government on copper-gold concentrate sales. We were positive on the merger and believed a credible London listed Pan-African producer capable of challenging Randgold, would have been established. We make no change to our Hold recommendation today, and expect the shares to be marked lower in early trade.