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Magnolia Pet Share Chat (MAGP)



Share Price: 0.59Bid: 0.55Ask: 0.63Change: -0.035 (-5.60%)Faller - Magnolia Pet
Spread: 0.08Spread as %: 14.55%Open: 0.625High: 0.625Low: 0.59Yesterday’s Close: 0.625



Share Discussion for Magnolia Pet (MAGP)


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Trytime
Posts: 247
Off Topic
Opinion:No Opinion
Price:0.59
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RE: Odd
Today 17:46
The sooner this market is regulated properly the better, down today when buys nearly half a million more than sells????
 
Poacher886
Posts: 1,479
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Opinion:No Opinion
Price:0.59
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Odd
Today 17:19
MAGP loses 175k, but the Mcap is dropped £1.5m??
Robsky
Posts: 3,618
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Price:0.63
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RE: RE: plan b
Today 12:20
Morning , EDG had similar problems with water disposal and constructed a disposal facility which might be the answer for MAGP if on going wells in that area have the same problem in EDG's case the treatment system investment allowed for lower well operating costs.... worth a look but as Smidsy re-iterated hydrocarbons are present and the well could be returned to at a later date......just a thought.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=EDG&ArticleCode=yca8avha&ArticleHeadline=Completion_of_New_Facility__Operational_Update
MrEnglish
Posts: 755
Observation
Opinion:No Opinion
Price:0.63
View Thread (3)
RE: RE: plan b
Today 11:37
In short, that's a bad result; But, better quit early rather than continuing and pouring good money after bad as they say.

So as expected... "The Well encountered hydrocarbons in the targeted conventional zones, including the Lower Skinner, Redfork Sand and Mississippi Lime/Chat," - unfortunately there was also a lot of salt water.

-----------------
Where to go from here? No doubt the BOD have a drilling hit list, the only question is will they just move on down the to the next on the list or are they determined to go after the self operated wells as they have a much lower extraction cost?

I think the first thing to do is full assess the results just in; £175k is small fry, but does this mean that this section of acreage is 'dead' can can they target something down the road?
Aim_Oilman2
Posts: 467
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Opinion:No Opinion
Price:0.65
View Thread (2)
RE: RE: plan b
Today 08:07
I think it will go on other wells not on any MAGP drilled wells.
smidsy
Posts: 4,369
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Opinion:No Opinion
Price:0.65
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RE: plan b
Today 08:04
From the RNS

'the decision has been made to plug rather than complete the Well to limit the total cost of operations to US$175,000, and allocate the remaining US$400,000 in the Shimanek budget for new drilling activity.'

No-where in the RNS does it say drill 'new' Wells. It only states new drilling activity.
Am I looking at this through rose tinted glasses?
smidsy
Posts: 4,369
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Price:0.63
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RE: plan b
Today 07:58
Mr. English posted the following on the 22nd July.
And it makes sense. If the drill has passed through other plays all may not be lost.
Anyone with any comment?

It is not how fast the stuff come out of the ground, but how much of it is actually down there. The great bit about drilling at this location is that there are multiple plays to target, so measure the thickness of each play as the drill goes through and initially pick which ever one looks best. If you find multiple good plays then 'bingo' you can always rework or re-drill (from the same pad) to the other plays later. The IPR is ONLY from the selected play, but if there are multiple pays the total reserves will much enhanced.

So, perhaps less meaningful to most people, but for MAGP (and indeed the value on which your holding here depends) is the total reserves (of the well) and hence the number on which the competition should be focused.

A figure of 50,000boe would be good.
smidsy
Posts: 4,369
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Price:0.63
RE: plan b
Today 07:45
didn't someone post on here at the start of the drilling that the drill would probably pass through several layers of oil until it reached the planned depth and if problems were then encountered the drillers would backtrack until they reached one of the other layers of oil.
rightonthemoney
Posts: 47
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Opinion:No Opinion
Price:0.63
plan b
Tue 18:58
If the BOD are any good they should have a plan for the 400k in place for the 400k in the event of disappointment. In which case i would expect further news fairly soon.
Guidedog7
Posts: 147
Off Topic
Opinion:No Opinion
Price:0.63
simdsy a song 4 u
Tue 17:04
Always Look On The Bright Side Of Life

https://www.youtube.com/watch?v=SJUhlRoBL8M

Only 92326 difference between sell and buy HERE today despite the drop:(( the sells have it but Volume 6,791,596 shares traded so there is still interest here

ISDX Volume 3,809,180 shares traded





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