http://www.msn.com/en-gb/money/savingandinvesting/here%e2%80%99s-why-oil-shares-are-sure-to-recover/ar-AAeXtRN?ocid=spartanntp With all the BIG BUYS over the last couple of days is Mr Wagenhofer now using his contacts at Grant Capital to get other investors onboard??? http://giant-capital.com/ Giant Capital is the ‘smart money’ in the global E&P sector. Lets hope so and lets have a few more days where TRADES are Up / SP is Up / MAGP at full sail :))))
So a 10 well participation in the SCOOP with Continental Resources what can we expect !!! SCOOP Woodford: Honeycutt Density Test Delivers Outstanding Results In second quarter 2015, SCOOP Woodford net production averaged 53,353 Boe per day, an increase of 29% sequentially over first quarter 2015. In second quarter 2015, the Company completed 15 net (50 gross) operated and non-operated Woodford wells in the play. Continental's second quarter results included another successful 10-well density pilot project, the Honeycutt unit in north eastern Stephens County. The nine new wells in the density test flowed at combined peak production rates of 93.3 MMcf and 9,058 Bo per day, or 24,603 Boe per day. The Honeycutt wells produced at an average rate comparable to the prior nearby Poteet density test, and the oil percentage of production in the Honeycutt unit was 37% of total production compared with 12% in the Poteet unit. The Honeycutt project was the Company's second dual-level density pilot in the SCOOP Woodford condensate window, consisting of five wells each in the upper and lower halves of the Woodford, spaced approximately 1,025 feet apart with 125 feet of vertical separation. Average lateral length for the new wells was 7,369 feet. "The Honeycutt results are further confirmation of the tremendous resource potential of the SCOOP Woodford," said Jack Stark, President and Chief Operating Officer. My educated guess is section 36 Grady county.............the 400k relocated from Shimanek towards this 590k investment looks good... a result as above would add 137boed to our production. IHMO DYOR
MagP Proactive 4pm
RISERS SDL (LON:SDL) up 11.2%. The company said its founder and chief executive will leave SDL at the end of the month having founded the firm in 1992. Magnolia Petroleum (LON:MAGP) up 4.4%. The company is balancing its energy product and diversifying revenues with the participation in ten new gas wells in Oklahoma.
You don't buy (and they look like buys to me) 17.5m shares here without the SP moving a jot.
Rob I concur ! Those are big trades going through. Let's hope that things may finally be turning for the good here.
With all those shares being scooped up and not a sign of a rise in the SP I believe we are being held at this level for the mystery person to load up even further, I reckon something is on the move and we might even expect to get a holdings RNS soon....
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