Madagascar Oil (#MOIL) PIs screwed as the company leaves AIM today
- 2016-04-07 23:39:57
UK 18:21 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
