Strong bounce in oil price seen Friday. Is this the turning point for re-rates all round? For the traders out there it may be an opportunity first thing on Monday morning with any oilies that have not reacted to that rise so far. http://www.reuters.com/article/2015/01/30/us-markets-oil-idUSKBN0L305Q20150130
Oleseadog, Keep that bottle on ice for now, I'll be happy to share it with all come exit time.
Can anybody explain why the gross total proven figures (oil/gas) have seemingly dropped from 95,266/632,284 to 35,582/280,520? OK, so the net figures (MAGP's share) has gone up, but the gross is clearly down. The only explanations I can think of are:- (a) These or the previous figures are wrong. (b) The gross figure has been revised down, but MAGP have massively increased their net figure on the amount that remains. Thoughts?
985 million barrels of oil
Total net proved reserves has increased to 985 million barrels of oil and condensate and 2.90 billion cubic feet of gas. This represents a 37% increase in oil reserves and a 39% rise in gas from the old resource. At the current rate of pumping ie 281barrels per day it will take 3,505,338 days to get it all out. (yep 3.5 million days) Can someone ask Rita if she can increase the speed of the pumps otherwise we will never get it all. :)
Yes i know Rob.....but having not a level playing field always serves to frustrate me, being an honest chap as i am. Indeed, the very principle annoys me more than the SP, which im sure as always will have its day again and a fairer value attached. Dont miss-read me though, the RNS is solid, very good news, and very informative this time...a clear improvement in that area...no reason to think anyone is going bust here. In fact a great time to accumulate i would say. I would love to see a share buy back too, always good to remove shares from circulation.
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