There were 401 shareholders with holdings of 100,001 and over as of 3 Sept 2014.
Of these the twenty largest shareholders of that 401 hold /held approx ~55% of the total share base ; Magna holds/held ~18% of total share base.
If Darwin are out of the mix by now and If the Placement is completed fully then it seems that any movement forward/upward is to keep those ~401 shareholders as sweet as possible while Jeff Auld does his job.
I know the number will have changed a bit but Oilex did a recent change of share registry so they must have an idea of nos and hopefully you get my drift.
Forget options holders the one holding the Aces are those Shareholders who have accumulated,get them on side and anythings possible.
Don't forget the underwriters from the last placing will want to exit with a profit of at least 50-100% as well. There will be opportunity to make money here short term. If, however, the placees get fed up with the useless Ron and start selling and we get below 2p we are in deeeeeeeeep sh&t.
Guys, just wanted to say the following. 1. The latest RNS is just a quarterly update for the last quarter which if I am not wrong is Q3 of our financial year. It is therefore not surprising that the info provided, to a large extent, just a repetition of the info we had through RNS over the last 3 months. 2. I would expect that Bhandut, 73 and 77 will start producing by the end of Q4. Company has stated that the top priority is to establish production from these wells as soon as possible. In addition, I would expect the 72 to be re-worked in Q4 and to add to our production in Q1 of 2015. 3. Figures for 77h and upgraded reserves will move this share upwards in the short term. Plan for 2015 FY should be with us by the end this quarter. 4. Moving some of the figures into reserves will give share price a bust and will enable us to actually borrow money from the banks rather then diluting further or God forbid go to Darwin for money. If I was the company, I would be aiming to raise the share price as a top priority to the level where options can bring significant amounts of money. It looked like takeover is on the cards but does not look like that anymore. So nothing stopping the to now rump the share price anywhere they want. If somebody wanted us and the share price was pushed down for that reason that is no longer the case.
Its nothing to do with paranoia. As a shareholder here i want this company to tell me: how much gas we are going to sell this year. How much oil we are going to sell this year. When are we going to start to drill the new 3 or 4 wells that they indicated. February tomorrow and to date we have seen no firm plans or dates for the new drills. If we even drill just 1 well this year i will be surprised. I have a lot of shares in here, and to be honest i think they are wasting all our time. Just same old words and no action.
A good direction and I look to that too - I down to three- qpp hoping - this I will wait and poss add again - and Oxs a little gamble If ever getting into good profits again I will be out and leave just a couple of k here and there for interest Its all embezzlement from one quarter or another and I think most are starting to realise that is not a paranoia view any more Prob is little by little there will be less PIs and a lot of dissuasion GLA
I add - that whilst a portion of my posts sounded paranoid or slightly petty and rather angry - the reason for that has been that I felt I listened to intentional misleading early last year yet still kept faith and it did start to look good I then started to be a little disturbed as to the RNSs when things were looking good - as you all know I was annoid too with the unwind deal that looked worked after raising dosh that ron said not needed Anger now is at all that but additionally the spp that was surely known about and played into resulting in this sp The worst feeling is that this is a vehicle for the boys until hitting it big- we have bhandari at ihl being paid additional by us for things like finding watts and doing a deal that surely he could have done in his capacity here Then we have ron at la jola and one wonders how mike jan and their magna have been making money
Haven't posted for a while, been divesting from AIM, down to 2 stocks, WRN and here, won't be investing in anything else, happy to wait for WRN to come out of suspension ( should hopefully bring a nice profit) and this one is in the bottom drawer, will wait it out till it comes good, no matter how long it takes.
Life free from AIM is a whole lot less stressful lol, it's much more refreshing just to pop in now and again
Does anyone know what this company is actually doing. They have managed to sell less than 900 barrels of oil in 3 months. No gas. Diluted our shareholding even further for 2.5 million aussie dollars. Appointed more non exec directors. Failed as yet to give us flow rates and an updated reserves report. What have they been doing since july when the 77h flame went out. Even in the interview a couple of weeks ago the oilex guy did not answer one question related to oilex, just spouted on about india instead. The only words out of rons gob is 'proof of concept' it is an absolute shambles of a company.
poss to buy that detail for £6 but filed 9 months after and no detail until next year end due in December 2015 for march 2014 to march 2015 also the ltd are not legally bound for audit due to turnover less than £6 000 000 and capital of less than £3 260 000 wonder what their salaries were march 2014 till now mike and Jan that is--poss we will not find out as it will prob change name wonder if Ihl will buy it out lol
MAGNA ENERGY LIMITED Number SC417424 Balance Sheet as at 31 March 2013 2013 £ Current assets Cash at bank and in hand 1 Net assets 1 Issued share capital 1 Ordinary Share of £1 each 1 Total Shareholder funds 1 STATEMENTS a. For the year ending 31 March 2013 the company was entitled to exemption under section 480 of the Companies Act 2006 relating to dormant companies. b. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. c. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. d. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by the Board on 1 June 2013 And signed on their behalf by: Michael Watts, Director
additional to post but read and digest one after another
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