February’s US$26.5 million fundraising marked something of a watershed in the short but eventful history of Madagascar Oil.
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Madagascar Oil is an AIM listed company focused on the development of heavy oil and conventional oil & gas deposits in five onshore blocks in Madagascar. The Company has significant exploration and development rights for oil and gas in Madagascar, and in the last five years the Group's two principal fields, Tsimiroro and Bemolanga, have been shown to have multi-billion barrel resource volumes in place. Recent field tests and studies suggest that a large portion of the Company's Tsimiroro heavy oil assets have excellent potential for economic development.
14/05/12
Updated Investor Presentation05/04/12
Update on Exploration Blocks27/03/12
Notification of Major Interest in Shares23/03/12
Notification of Major Interest in Shares21/03/12
Results of the Special General Meeting20/03/12
Directors Dealings and Issue of Equity19/03/12
Notification of Major Interest in Shares08/03/12
Full Year Results01/03/12
Notification of Major Interest in Shares29/02/12
Notice of Special General Meeting25/05/12
February’s US$26.5 million fundraising marked something of a watershed in the short but eventful history of Madagascar Oil.
02/09/11
Edison Investment Research estimates Madagascar Oil’s net asset value to be around 96 pence, based on its Tsimiroro project, but the economics of the project remain sensitive to the oil price
27/06/11
Madagascar Oil Ltd returned to the market this morning following a suspension triggered by a dispute with the Madagascar government over its Tsimiroro production sharing contract. The shares fell sharply, however, with negative broker comments undermining sentiment over the stock.
21/03/11
Plans to develop the Tsimiroro heavy-oil field, which has nearly 1 billion barrels oil-in-place, ran into trouble just weeks after the stock joined the AIM market. The Madagascan government wants to expropriate the assets, and permitting for the 2011 drill programme has been tied-up in red tape. This morning MOIL declared force majeure in a bid to start meaningful talks with the government to resolve the situation.
30/11/10
Madagascar Oil shares were gaining on London's AIM market this morning, after yesterday's successful listing which valued the oil junior at around £183 million. It raised £50.5 million in new capital and it is one of AIM's larger small-caps. However if all goes to plan, there is every chance Madagascar could be a mid-cap in a year’s time as the resource base grows and its main project is progressively de-risked.
05/04/12
Madagascar Oil shares rise as it resolves issues on exploration blocks05/04/12
Madagascar Oil can now begin work at its three exploration blocks08/03/12
Madagascar Oil poised for first oil this year from Tsimiroro onshore field22/02/12
Madagascar Oil raises US$26.5 mln for Tsimiroro field development - Update22/02/12
Madagascar Oil raise US$26.5 mln for Tsimiroro field development08/12/11
Madagascar Oil to begin drilling at Tsimoro imminently, shares rise14/09/11
Madagascar Oil focused on Tsimiroro in the near term12/09/11
Madagascar Oil unveils Tsimiroro resource upgrade to 1.7 bln barrels27/06/11
Madagascar Oil shares fall on first day of trading after six month suspension24/06/11
Madagascar Oil resolves Tsimiroro PSC issues with govt; shares to resume trading on Monday16/05/2012