So many O&G and miners have started flying this week too!! We continue to grow, and continue to fall, joke. We have a different model to those, but thought we'd left these levels behind on what seemed to be a correction a few weeks ago. Looks like we're heading that way again :(
Today's drop was my doing though. Day I top up = Drop! Sorry chaps!
Baks Redfork Energy on the face of it looks a bit shaky at the 30/sept/14 sold $11m of acreage in April to bolster the loans. we have peters an jimmy @ $263,7008 and TBN 1-31 & TBN 1-32 not yet producing, Great white being the best well so far, maybe they are looking to sell more acreage lol.
Own vertical hmm Roger cost $730,000 for 17 BOPD and a bit of risk when Cummings 1&2 with Chesapeake 3.34NRI produced a combined 29.91 BOED for an investment of $283,340 so less than half the investment for twice the production other examples are easy to find so a timely approach for finding sweet spots with self drills are fine for me lol. May even be less risk with a joint venture if we need to go down that route quickly IMHO.
If you recall, the Mail on Sunday recommended that "the nervous" sell half of their MAGP holdings. Surprise surprise, along came Bulford with his blatant pump & dump of TOM (which I do actually hold, but certainly not in preference to MAGP). We have seen similar from the bear raiders with their repeated and ludicrous shorting targets of MAGP. In addition, a number of their "buys" have since returned to the market for financing. Meanwhile, MAGP has been proving up reserves and building revenues quite nicely. We have seen significant value realised in the sale of non-core assets which gives an indication of what can be achieved, quite apart from the ambitious plans for increased working interests and acquisitions.
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