When other Oilers are posting collapse or losses of magnitude, we continue to grow at a steady pace, with good revenue increases. We are still a steady growing stock with revenues close to our valuation!!!, irrespective of our growing assets. Of course even if we had RNS'd a 10m profit, due to AIM, the mere mention of a small placing see's us down again. Happy to hold and wait for further developments...other peers with half the oil output and 4x the shares are double the valuation?
Re: Strong results
I just wonder what the revenue figures would have been if oil had not slumped over the last year.......perhaps $6-7m
I think that we have posted another strong and impressive set of accounts. I have no problem with the placing as it will accelerate the growth rate. Good move by the Company and a necessary one in the current climate in the oil business. Good luck to them and us. We will have our day....
Incidentally, having been stopped out on a 30% loss in December, I was a buyer again at 0.56 and sold my holding on the last spike. I currently hold a token 69 shares but just can't get excited about the results today, particularly with the update on the Montana acreage.
"It certainly reveals that management are not dilly-dallying when it comes to diversifying the business. Nor are they likely to sit back when the next opportunities come along." This may be true but the placing at such a low/discount has damaged their credibility. It may well be possible to profit from these levels but we have to recognise that matters have gone seriously awry.
Or could it be encouragement. .....????? Instead of announcing 1% of this that and tother, clearly the respected Management Team at Magnolia are targetting something much larger to move the Needle as has been mooted as desirable by the commentators and also as was the need not to issue RNS's like Confetti
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