Absolutely correct. EVERY ONE OF US should do this as it genuinely negates the Shorters opportunity. Our major benefit (i.e. huge support from PI's with very little free float of the shares) is ironically also our greatest weakness UNLESS YOU SECURE YOUR SHARES. I did this sometime ago - strongly suggest ALL genuine MAGP long term investors do the same.
Hi Midway - thanks for your comments. Genuinely not a ramp just trying to make sense of the reported IPR's which seem substantial for the calendar year of 2013. I think we all know they're hugely undervalued either as a result of the sentiment overhang from the long Bear raid or perhaps there are still some to be sold (but can't be many). But on pure fundamentals alone, nothing else, any money invested in this stock at these prices will produce an excellent return imo. Truth will out in the CPR!
Just going through the RNS and various facts/figures I have on file, I believe it's worth noting a few points. Without including the small stuff, we have had the following production figures since the Dec 12 CPR, which had us at 122.5 boepd (all figures are MAGP's share): 05/06/13 - Roger Swartz with IPR of 17 bopd (but it was a Vertical well) 28/06/13 - Gustafason with 'excellent' IPR of 50 boepd (and Condit at 7.7 boepd) 05/07/13 - Helgeson with 'excellent' IPR of 57 boepd 22/07/13 - 1st Jake with 'excellent' IPR of 57.5 boepd (and Sympson at 5.4 boepd) 25/07/13 - 2nd Jake with IPR of 33 boepd 30/09/13 - JKL with IPR of 9.44 bopd 22/10/13 - JoAnn with IPR of 5.2 boepd 06/11/13 - Sullins with IPR of 11 boepd 11/12/13 - 4 Jakes with 'excellent' IPR of 156 boepd 20/12/13 - Great White with 'excelent' IPR of 46.5 boepd 30/01/14 - Blaser with (disappointing) 13.3 boepd THESE TOTAL 469.04 barrels, on top of the original 122.50 mentioned in the CPR up to Dec 12. The August CPR update included figures from only 9 out of 45 producing wells announced between January 2013 & August, so 36 producing wells were NOT in those figures. Since then, we've also had over 200 boepd from just the Jakes and Great White both announced just before Christmas. We also have Parmley IPR due any day now with our 12/187% interest. If that's a goodie, who knows where we are now???!! Finally, the CPR MUST therefore be a HUGE increase on the August update (I reckon double the boepd potentially) and, looking at it logically, bearing in mind that we had the August update, the awaited annual CPR could well be out long before April as 7 months of data had already been compiled for the August one. This CPR could come this month potentially and I, for one, think it will be a game changer that sees us wave goodbye to the low 2's forever. GLA.
Afternoon sir. Yes, tragic really if you look nearly every page is criminally out of date. Don't they care or are they just slack? In either case, what are they paying professional fees for? It's a great story so get it out there - no excuse for this.
Just completing detailed reports on my various investments so that, should I fall under the proverbial no.37 bus, my wife and Executors understand why I am invested and how I want them to keep the stocks for a while to get the full benefit for the family. However, when trying to get some basic background for the intro, etc I went to the 'Operations' page and it says: 'The Board expects to see four new wells drilled on its acreage in 2012 and 10 in 2013.' For goodness sake, a web page takes 10 seconds to update these days and this is poor, bordering on pathetic. How can you sell the story if your own shop window (i.e. your web site) is still referring to the season before last's stock?! Not acceptable - we're way past that stage. Come on Frank - kick some butt!
Datafeed and UK data supplied by NETbuilder and Interactive Data.
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.