Just invest in dusters, let our success rate fall and revenues slow. Throw in a few share issues and we'll have a rocket on our hands!
This is beyond ridiculous!! This company goes from strength to strength. Since the admissions to AIM we've gone from 7 BOEPD to over 250 as at 1 July. Along with the huge percentage increase in Revenues, acreage, and well interests. Totally baffled. Insane value to be had here, when we do finally re rate
.... on the approach to this RNS. SP wise it's all games and noise, to be ignored for those awaiting the big pay day. The important fact is that the game plan is well intact and we're getting exactly what it says on the tin here.
"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".
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