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Magnolia Pet Share Chat (MAGP)



Share Price: 0.89Bid: 0.85Ask: 0.93Change: 0.065 (+7.88%)Riser - Magnolia Pet
Spread: 0.08Spread as %: 9.41%Open: 0.825High: 0.90Low: 0.825Yesterday’s Close: 0.825


Share Discussion for Magnolia Pet (MAGP)


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Robsky
Posts: 3,505
Off Topic
Opinion:No Opinion
Price:1.45
Prove up and Sell
22 Sep '14
CEO Stephen Snead said

"From the outset, we set out to create value by proving up the reserves on our
leases. The post period end sale of 24 small interests in non-core wells for
US$240,750, ALMOST THREE TIMES the US$83,000 value assigned to their combined
PDPs, demonstrates both how the market values non-operated properties such as
these, and also highlights the strong appetite for de-risked US onshore leases.
The sale provides a real time, albeit much smaller scale, example of what we
are aiming to achieve with the Company as a whole by acquiring and developing
leases in US onshore formations. With a new US$6 million credit facility
secured and rapidly growing revenues, Magnolia is in a stronger than ever
position to monetise its leases and in the process generate significant value
for all shareholders".
 
MrEnglish
Posts: 739
Observation
Opinion:No Opinion
Price:1.45
View Thread (2)
RE: MM's
22 Sep '14
yo WAFTT,

At last a voice of common sense, please stick around...
Robsky
Posts: 3,505
Off Topic
Opinion:No Opinion
Price:1.48
Rise
22 Sep '14
Morning Magnolians !

Great Interims RNS as we are now getting to expect with some major well results still to come ..............

A nice gradual rise in SP is what we are looking for no spikes thanks.
Robsky
Posts: 3,505
Off Topic
Opinion:No Opinion
Price:1.46
In Addition
22 Sep '14
During the period, initial production rates were reported for 15 new wells in
proven US onshore formations in which Magnolia has an interest. In addition we
elected to participate in 39 new wells, bringing the total number we currently
have under development to 74. A number of these are increased density or infill
wells that maximise the recovery of reserves on leases held by production. As
well as increasing production, infill wells have the potential to quickly add
to our PDPs which in turn determine the borrowing base limit of our credit
facility. This creates a virtuous circle, as along with our growing revenues,
the larger credit line increases the funds available to participate in further
drilling to increase production further and prove up more reserves. I look
forward to providing further updates on our progress over the course of the
second half of 2014.
Robsky
Posts: 3,505
Off Topic
Opinion:No Opinion
Price:1.44
And remember 3rd september
22 Sep '14
3 September 2014

Magnolia Petroleum Plc (`Magnolia' or `the Company')

Receives US$1 Million Consulting Payment and Well Updates

Magnolia Petroleum Plc, the AIM quoted US onshore focused oil and gas
exploration and production company, is pleased to announce that it has received
a US$1,002,000 payment for consulting services provided to an international
company acquiring an oil and gas project in Oklahoma. In addition, the Company
has been notified by the relevant operators that five wells in which it has an
interest have commenced production, generating a combined 47 boepd net to
Magnolia based on reported initial production rates (`IPR').
Robsky
Posts: 3,505
Off Topic
Opinion:No Opinion
Price:1.44
Here we go !!!
22 Sep '14
London, September 19

Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas

22 September 2014

Magnolia Petroleum Plc (`Magnolia' or `the Company')

Interim Results

Magnolia Petroleum Plc, the AIM quoted US focused oil and gas exploration and
production company, announces its interim results for the six month period
ended 30 June 2014.

Highlights

* 93% increase in H1 2014 revenues to US$1,755,459 (H1 2013: US$910,721)

* Half year EBITDA of US$699,397 compared to US$237,552 (after removing gain
on foreign exchange) during six months to 30 June 2013

* 155 producing wells in proven US onshore formations such as the Bakken/
Three Forks Sanish, North Dakota, and the Mississippi Lime, Woodford/
Hunton, Oklahoma, 32% year on year increase (H1 2013: 117)

* Reported initial production rates (`IPRs') for 15 wells

* Elected to participate in 39 new wells - 74 wells currently at various
stages of development

* Daily production of 257 boepd as at 1 July 2014 compared to 150 boepd as at
1 April 2014 due to number of wells commencing production in which Magnolia
has larger interests - Parmley 1-1WH (12.187%)

* US$9.143 million value of proven developed producing reserves (`PDP')
compared to US$8.416 million as at 1 April 2014

* Total net proved reserves (`1P') of 719 Mbbl of oil and condensate and
2,093 MMcf gas with NPV10 of US$31.832 million as at 1 July 2014

* Strong pipeline of opportunities across all formations both as participant
and operator - over 600 potential drilling locations on existing acreage
GandT
Posts: 269
Premium Chat Member
Off Topic
Opinion:Buy
Price:1.44
Steady as she goes
22 Sep '14
Cracking RNS..buy and hold IMHO. Our day will come. Value is being added all the time. GLA GandTx
APry01
Posts: 15
Observation
Opinion:No Opinion
Price:1.40
View Thread (2)
Oilmagnet exchange rates
22 Sep '14
the bit about exchange rates is removing the impact of the e/r to give a true LFL. Companies will often use a restated figure using this years £ at ly exchange rate rather than over or understate the £gbp.

Essentially it only matters for accounting purposes as if the money is physically in usd there may be no need to convert it to £gbp.
Where.angels.fear.to.tread
Posts: 481
Off Topic
Opinion:No Opinion
Price:1.40
View Thread (2)
MM's
22 Sep '14
MM's just make a market so buyers/sellers can trade. Only 18 buys so far, so the market has given the RNS a reasonable, but luke warm reception, hence no major rise in price. Must be some data in the RNS that is not appealing to the market?.
iamhoping
Posts: 9,785
Off Topic
Opinion:No Opinion
Price:1.39
Not again!
22 Sep '14
Wakey wakey 'the' market......





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