Morning jr good find, you are like that dog with a bone NAPP, NCT, MAGP etc and you are not wrong, I to have a gut feeling that there is a bigger picture yet to emerge here given that Rita and Steve are founder shareholders of NAPP along with Gavin B all very interesting.
I am sure some of the advising and moves are being done by ours truly.
So let's get this right....there have been four trades today, two buys of 100,000 and one each of 90,000 and 40,000. Against that there has been one sell of 190,166. This is logged on the running totals as 190,166 sold and ZERO, NOUGHT, NIL, NONE, ZIP, NOTHING bought.........Mmmm?
You sound a bit Cynical O&W being a growth company I would expect most or all revenues to be reinvested in more drilling and acreage, increasing assets and production and therefore market capitalisation and share value ready for sell off at 400 - 500 million.
Rita Whittington, COO of Magnolia, said, 'Magnolia's excellent operational performance in 2013 in terms of well count, production and proven reserves, has translated into a strong set of full year financial results. The increase in the borrowing limit of the Credit Facility before the completion of our updated Reserves Report provides third party recognition of the rapid progress made. Since the turn of the year, there has been a significant increase in the number of new well proposals across our leases in proven formations such as the Bakken and Three Forks Sanish in North Dakota and Mississippi Lime and Woodford in Oklahoma from established operators such as Devon Energy. As a result, we are confident that the strong momentum behind Magnolia will continue into the current financial year and beyond.'
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