All for re-investment minus the usual expenses of course, and the new production from Parmley added on.
There are 12 Devon Energy participations on going with interest of 4.1% and one of 7.5% NRI so much money coming from Devon Energy, one very committed and respected company at the moment, who are doing all the right things.
A lot of activity continues in the US oil business. http://www.bloomberg.com/news/2014-05-16/midstates-petroleum-said-to-explore-possible-sale-with-banks-1-.html I have no idea if MAGP want to react to SP flatulence. Offhand, it looks as though management is content to retain status quo and press on with good accounting practice. There is no quarrel with that policy. Who wants to see a $1.7m debt burden like MPO ! At least one source reckons Woodford reserves will more than compensate for the Missi Lime lead balloon insofar as MAGP is concerned. NRIs continue to climb at a rate that comfortably corresponds with increasing revenue and the finance facility parcel. My situation is different to others, so there is no point in imposing coactus sententiam. There will be developments here. I don't know when.
I think the knife has been out for a long time and the downgrade was the perfect reason to stick it it. I won't indulge in the posts about a certain someone, anyone who invests without doing the due diligence deserves to lose there shirt in my opinion.
One point that I stumbled across, was trades receivables (or monies for oil owed) had that been collected and the previous years taken off this years revenue it makes for a rather interesting number for revenue...maybe thats clever accounting but check it out for yourself...
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