It makes little sense to me... from looking at the trades over the last few days (since the results - aka from the 28th June) I woulds say that there has been a majority of sells yet the paid ask appears to have crept up from 0.175 to 0.185.
Lack of liquidity in the market as 'we' now hold all the shares... Shorts being closed... My imagination... Thoughts...
----------------------------- One slightly worrying statement from the results was "WTI averaging US$48.66 per barrel over the course of the year".
Given that is where we are now its going to have to increase a few dollars more in order to see better revenues over the next 12 months.
Dallas-based Magnolia Petroleum Company, a partnership of Burnett Petroleum Company and private equity firm CIC Partners, has acquired all assets of Houston-based E&P (exploration and production) company Famcor Oil, Inc.
Magnolia was formed in 2012 to acquire Gulf Coast properties. With the deal, Magnolia will acquire 70 operated wells in San Jacinto, Liberty, Montgomery and Polk counties. Arcadia Operating, LLC, an independent company headquartered in Dallas, acquired minority interest and will oversee all operations.
Famcor’s assets “align well with [Magnolia Petroleum’s] existent scope of operations and holdings in the region and represent a step towards the significant growth that [they] hope to achieve in the following months,” Kyle Burnett, CEO and president of Magnolia Petroleum Company, stated in a release.
Burnett said Magnolia and Burnett have future plans to acquire more quality assets located in the U.S. Lower 48 and expand their operating footprints within their areas of focus.
Magnolia declined to disclose the monetary amount of the acquisition.
you'r never Billy no mates on this Board mate. But if you find the loneliness a bit overbearing give me a shout I'm never far away. The AGM is due next month and maybe we will get a couple of RNS's giving us an update on where we are. It's not like Rita to keep us in the dark, although they are probably saving on the costs of the RNS reports.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.