You read my mind, after nearly 1.5yrs of rot, it seems the RNS scrapping the EFF has finally stopped it. Wither it was indeed this RNS or just the sellers have finally bailed, or again the expected Production news and CPR due. The constant fall has run out of steam and we seem static.
Given what we are used to, i also view this with some relief..now lets hope for a reversal of sentiment and indeed trend!
Another day of no movement. It looks to me this is the longest we've been static for a long while now, and I'm taking it as a good sign. The sellers have moved all they want to, and we're just poised for some buying activity.
However, it is easy to see how anyone looking at this without doing further research might be put off.
These are now so far out of date, they do not include any elements of the interims from Sept 2013 and in my view we must be overdue the final results up to Dec 2013. By the time we get these they will be 4 months behind the curve.
Looking at the detail of the interim Results in Sept:
* 223% increase in H1 2013 revenues to US$910,721 (H1 2012: US$282,208) and 27% up on the revenues for full year (FY 2012: US$709,395)
It is difficult to then imagine a scenario where we are not profitable. DYOR as ever
Guy's i agree if you follow the most up to date financials via RNS. But take a look on FT.com under MAGP (data listed true for March 2014) and it shows revenue 803K / Net 64k....the only stock amongst its rivals with a positive.
I doubt even this is correct as we speak, but foof for thought none the less.
Strictly speaking you are correct. However for those wanting to get ahead of the herd the continued investment in new wells is a clear sign that considerable cash is be generated and new cash has to come from somewhere.
Poacher With respect to the SOS interview. I agree, but saying it is one thing. The point was that MAGP are going and doing it.
Sorry to threaten rain on your parade, but it's just NOT true that magp is "making money" yet. As per the las set of interim accounts, now 6 months old admittedly, magp made a small loss after tax and excluding fx adjustments.
I am waiting for the full year accounts which hopefully will show a profit after tax excluding extraordinary charges, the sole arbiter of "making money".
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