Midway - AFR has serious problems. Many ventures are now precarious. Only the mean and lean are likely to flourish. Whilst there is some wishful thinking going on with US oil magnates a steady recovery in WTI is not out of the question this year. Those producers, especially in Nigeria with their high extraction costs, will not fare well at sub-$100.
I see Brad N [EDG] has emailed to point out that the company is OK/good for a WTI of $32/barrel. It's Robsky/Smidsy's province so I shall let them comment. So we now have another company that has calculated its break-even.
Unless the situation changes markedly MAGP can ride it out notwithstanding fall-off in receipt values for the foreseeable future. They do not have a swingeing admin overhead. I would like them to confirm that none of the current partners are reneging on payments due.
Don't know what to make of activity in Lincoln on S26 16N 5E and/or the total acreage involved. A similar story applies to recent lease take-up in other counties.
SP flatulence on MAGP and many others in the peer group is now at a level where younger members can shortly pursue and go long.
Yes Rich but it could be worse like the poster on last Week who sold Magp to go for broke with Afren ,unfortunately has hit an iceberg of course and sinking fast ,tomorrow is D day there AFR is a ft250 company and you would expect that on Aim but who knows how that will end now, Aim is getting worse without a doubt as it is now all pump dump or short .I don't think this can continue as 1 in 10 aim companies are 90% down according to a report last month.
Truth be told I've very little money riding in shares ATM. Just don't trust the way the market is manipulated. I even wonder if new investors will be put off investing in the future particularly on AIM which seems to be getting worse for its bearishness and fiddling.
Suffice it to say, I spend most of my time trying to alert newbies to the pitfalls to try and prevent them losing the family savings.
cheers Rich3 not posting as often now :(.... not that much to post about and very difficult to find any positive news sure the weather might be hampering operations and progress has slowed .....where have you been hanging out.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.