The RNS was very encouraging. One can only conclude that investors are overlooking MAGP and making whoopee elsewhere, my old friend CAZA being a case in point. I think if you are prepared to consider a 3 year timeframe, you will do very nicely here - this will be taken over.
Thanks for your very positive post, I completely agree with you, the sell you mentionwas certainly not mine. I have posted this mornings RNS link for the Operations Update on Seeking Alpha site in the US. I also added the Proactive link which states the Woodford Well findings are impressive. We really could do with some more publicity help in the US, since this seems to have moved other AIM resource companies in a positive manner. Magnolia is in close contact with Devon Energy, there is excellent reading matter on that stock.
...at 14:58 today, who sold 550,000 @ 1.20p and how could they not have taken a bath on that trade??? Doesn't look like the result of a shake as the sp had been 1.20p bid for a while before the trade was booked. Amazed (as much as one can be on AIM!) to find myself at my original entry levels some 24 months ago but here's a thought...... Based on the nearest RNS announcements, at the time of my entry in Feb 12, we: - were producing 38 bopd - had just added 480 acres to our 800 already in Mississippi Lime - had 568m shares in issue Today, sp exactly the same and we: - are producing 50.22 bopd (54boepd) JUST FROM PARMLEY this morning - have a FURTHER 154 producing wells and 23 MORE being drilled - have well over 5,000 acres in Mississippi Lime which includes the prolific Woodford play below - have 910m shares in issue
So, in precis, all things being equal, the extra 342m shares issued since Feb 12 should be worth 177 wells, at least 4,000 acres and over 150 bopd. 342m x 1.20p = £4.1m GOOD LUCK trying to buy 177 wells, 4000 acres and a revenue from 150 bopd for only £4.1m.
Conclusion: This sp is so low as to be laughable and investment at these levels, coupled with patience will make holders from here very, very, very rich if by no other means than by a T/O so I'm staying put!!!!! GLA
I'm in a similar position, 2.1p average on 1.5 million shares. I agree with your thoughts and sentiments. I will stick with it, because I still believe in the long term strategy......I just wonder how long that is going to be.
Sorry been out all morning. In reply yes I lost on this mornings sale. My average is 2.95 on 1.2 million shares so I'm taking a real beating on this share. Moved some cash to REM because I think that looks like a better short term bet and feel the need to look for some short term respite. I'm feeling, like many others in Maggi, totally screwed at the moment. It should certainly be good in the long term but when it will stop falling and when it will return to the 3 or 4 p's god only knows. By rights it should never have fallen this far, the fundamentals remain positive but when share is out of favour then it's out of favour and could stay there for a good long time. There seems to be no correlation between the value of the company and the share price.
.....Hi buddy.To an extent I think Maggie is suffering from her affair with Mr Trader. He took her up the aisle to the 5p alter then callously dumped her. It's almost like reverse psychology. We all knew 5p was extravagant, just as we all know 1.25p is well below, but we've dropped off the radar on the basis that traders know full well the market has trashed her once and until we reach a more elevated level again, probably not worth dabbling with for now. The lamentable volumes speak volumes. Throughout, the BOD are still impressing and I remain convinced the patient will be handsomely rewarded - eventually. Just need more publicity as to what is on offer here to get the volumes going again. The spark will reignite the fire.
I think the only other thing could be in the way is the new CPR however that being the case there will be information continuously coming into Magnolia throughout the year which is sensitive due to the number of wells on going, quarterly updates, year end, CPR,etc etc. so there must be a point in time where buying position is reached.
I hope the information is sensitive enough to kick the SP up the ladder a couple of rungs Lol.
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