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Magnolia Pet Share Chat (MAGP)



Share Price: 4.44Bid: 4.08Ask: 4.80Change: 0.00 (0.00%)No Movement on Magnolia Pet
Spread: 0.72Spread as %: 17.65%Open: 4.44High: 4.44Low: 4.44Yesterday’s Close: 4.44


Share Discussion for Magnolia Pet


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Guidedog7
Posts: 1,353
Off Topic
Opinion:No Opinion
Price:4.44
Oil prices gave away early gains
Wed 07:35
Robsky
Posts: 4,563
Off Topic
Opinion:Hold
Price:4.44
RE: RNS and GD7 post
Tue 15:23
Afternoon Smidsy I am still of the opinion that the selling off of the Symson wells was a mistake I know we made a profit of circa 60k over the time we waited for them to be completed but those wells are now producing 3,145BOEper well circa 41,701BOE over 24 hours 11% oil over the project not sure how that would have reflected the reserves but my feeling is that the deal was compromised over the WED deal, it seems to me that the deal with WED is a restrictive factor on where we can participate IMHO.

10-well pattern 2-mile density
£ Oklahoma record producing density unit
£ 41,701 Boe (11% oil) - combined peak 24-
hour rate
£ 3,145 Boe per well (11% oil) - child well
average 24-hour IP (12 wells)
£ Laterals range from 3,050£ to 10,270£

http://investors.clr.com/phoenix.zhtml?c=197380&p=irol-presentations
smidsy
Posts: 5,454
Off Topic
Opinion:No Opinion
Price:4.44
View Thread (2)
RNS and GD7 post
Tue 11:50
Having recently received the first US$500,000 tranche of the WED Agreement, we are currently deploying these funds into new leases and wells which, as well as generating fees for Mget itagnolia, will also provide us with a free carry on the first wells drilled. As a result, I am confident that going forward the value of our PDP reserves will rise significantly, and I look forward to providing updates on our progress.£

Anyone have a problem with this statement? After the fiasco with the Worlds oil supplies and crazy prices I consider that MAGP has now got its act together. Rita and Co. against all the odds put by SOS and NTOG are now giving me some confidence and although I expect that the 'end of the tunnel' is still many moons away I am a lot happier than I was twelve months ago.
I await the next operations report and suggest that it will give us some 'cheer'.
That's my take on it, forever the guy who's glass is half full. Iv'e waited five years so far and a little longer won't hurt.

DYOR.
smidsy
Posts: 5,454
Off Topic
Opinion:No Opinion
Price:4.44
RNS
Tue 08:13
Morning maggots and you too GD7

I will hold my comments until I have read the Operations update due out anytime soon. So GD7 no CD's until we see the report. :-))
buzzlightyear4
Posts: 6,701
Off Topic
Opinion:No Opinion
Price:4.44
hopefully now we will see....
Tue 07:55
a nice move in the SP back to 10p to start.....

GLA
Guidedog7
Posts: 1,353
Question
Opinion:No Opinion
Price:4.44
What will Rita say!!!!
Tue 07:43
Q4 IN THE REPORT?

At leased we know that company seems stable after the move round of well sales with pv9 at the same values +/- a few k.

Anybody HAD TIME TO WORK OUT SP Value with Pv9 at just over $4 million??????

No CD YET smidsy ????????
Guidedog7
Posts: 1,353
Observation
Opinion:No Opinion
Price:4.44
RNS
Tue 07:06
Overview:
Total net PDP oil and condensate reserves of 274.475 Mbbl as at 1 January 2018 (1 January 2017: 282.686 Mbbl of oil and condensate)
Total net PDP gas reserves of 1,692.497 MMCF as at 1 January 2018 (1 January 2017: 2,343.116 MMcf gas)
Change in total net PDP reserves due to:
the divestment of interests in the 13 Sympson Wells to align portfolio with counties that qualify for investment under the US$18.5m capital management agreement with Western Energy Development LLC (£WED£) and to pay down debt £ as these were increased density wells, all 13 had been included in the January 2017 report
the divestment of a number of non-core and low valued wells
US$4,002,000 value (NPV9) of total net PDP reserves as at 1 January 2018 (1 January 2017: US$4,026,000) provides strong asset backing to current market capitalisation
The Reserves will be used to re-determine the borrowing base limit of the Company£s US$6 million credit facility in February 2018
The Report only covers proved developed producing reserves and does not include proved shut-in, proved undeveloped, probable and possible reserve classes as well as Magnolia£s interests in undeveloped acreage
Guidedog7
Posts: 1,353
Observation
Opinion:No Opinion
Price:4.44
RNS P9 4MIL PLUS
Tue 07:05
Rita Whittington, CEO of Magnolia, said, £The updated Reserves Report demonstrates the significant asset backing behind Magnolia, even after taking into account factors such as the realignment of our portfolio of producing wells over the period to those areas in Oklahoma where we will be focusing our activities under our US$18.5 million investment agreement with WED. These areas include the prolific SCOOP and STACK plays where operating costs are relatively low, recovery rates are high, and activity levels are increasing.
£Having recently received the first US$500,000 tranche of the WED Agreement, we are currently deploying these funds into new leases and wells which, as well as generating fees for Magnolia, will also provide us with a free carry on the first wells drilled. As a result, I am confident that going forward the value of our PDP reserves will rise significantly, and I look forward to providing updates on our progress.£




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