year1970 - Agreed, "every share has its bad patch". Even so, MAGP needs remodelling to some extent, and we could see something fairly soon. The company's 14 May newsletter is worth rereading with specific attention to the Woodford-Hunton guideline. It happens to be an encouraging feature.
Following on from last night's offering I have just opened OGJ's latest email. It reinforces my idea that MAGP's Act III could include another foothold in the Permian - a logical step if land position is critical to the company's fortunes. Also, judging from EOG's progress in knowhow, the spectre of steep declines after IPRs could become a thing of the past on prime acreage; skills are passed through the grapevine by drill crews - the efficiencies/techniques become common knowledge.
Friday RNS ? yes please Rita we need to get away from the current zone.
Oilm never to old for a good old rave in fact the older you are the more you get p@ssed off at incompetence and getting "red taped" Lol.
I nearly became a sales person for Telecom plus when it first came on the scene but was involved in various other things so never took it on it all looked quite good and they are doing well at the moment. Lol.
So Mississippi Lime's largest acreage holder Sandridge Energy seems to be doing ok from it and so does NCT going by their increase in share prices.
Snippets •SandRidge has one of the best assets in the region and the company is utilizing its asset base well to grow.
•Decreased cost should give an advantage to SandRidge and increase the profitability of the company.
•Increased production per well shows that the company is utilizing its assets well.
The midcontinent focus of SandRidge Energy has now started yielding substantial gains for the company as it is clear from the impressive first quarter results. The company is mainly focused on the Mississippian oil play of the northern Oklahoma and southern Kansas.
Since the company has most of its assets in the Mississippian lime, it has significantly decreased its drilling and completion costs from $3.3ml to $3ml.
SandRidge has one of the best asset bases in the region and the company has been able to achieve impressive per well costs.
Not withstanding recent comments regarding our Missssipi-Lime acreage Sandridge Energy are doing very well from it Chesapeake also have 2 million acres in Oklahoma and Kansas and Devon Energy has 600000 net acres and says the lime has potential but is still an exploration play.
Magnolia has also achieved success in another emerging play, the Mississippi Lime, Oklahoma, an area that is now responsible for the majority of its production the Lime is factored in at 3.4p per share on the last CPR valuation on 22 May 2013 whereby the Bakken adds 1.3p per share, the woodford production adds 0.5p and other production at 0.2p per share.
Montana land value is worth another 0.45p per share and is paid for.
Conclusion the current share price equates to our Bakken assets alone which has never been put in question and everything else is CHUCKED IN FOR FREE. DYOR.
I am a holder of almost 6 million shares here but just look at it this way, every share has it bad patch and MAGP is no exception as we are witnessing at the moment.
The other day someone did some comparisons between MAGP and HAWK and concluded that we are overvalued. Well I could find loads of shares in the same sector where the sp does not reflect of what currently producing between two companies. AIM is all about potential and direction. What if MAGP decided to drill a well and found loads of oil, then everyone will praise them again. Personally, I can see that they will drill a well as an operator this year.
Don't forget the final year result was 244% more than last year. But at the moment people could only see the negative of MAGP.
We also invested here because we trusted the expertise and experience of this board. I say this again, every share will go through at least a bad patch and we are right in the mix of it.....
I am over 50% down on my investment here, 130,000 shares. Can anyone cheer us all up by setting out the catalysts for the SP to improve? I know my 130,000 is small fry to most regulars on here,I feel sorry for the very large holders but are we all just kidding ourselves about the future?
Hi Mate, that's what most people say:) I work ful time in Pain management, I do a little of adhoc trying to convince people to change providers:) the company is called Utility Wharehouse. they don't advertise just relie on word of mouth, I get a small fee for introducing a customer and then a small fee every moth while they are a customer.
Sponsored by Terry Wogan no less :)
Oh by the way their share price is going up( alittle dip this year but check it out) and up check them out, at the minute they have 2% of the utility market, so the potential to expand is huge. The company they trade under is Telecom PLC.
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