Taking the long term view was always the case here and that has not changed, the investment is in the company and the BOD not the AIM casino which has trashed many a share unfairly before even taking the oil price into account.
Dual listing in the U.S might help however other dual listed companies are suffering in the same manner.
I have listened to one of Stephen Snead's early presentation's on numerous occasions and still genuinely believe that he and the BOD are acting in the best interests of Shareholders of Magnolia in whatever circumstances the markets present.
We have had good news in every RNS, ultimately value must shine through and be reflected in the share price or take over price.
Oleseadog Thanks for the heads up re the compo prize, disappointing, I thought that would be the case but thanks for your efforts anyway.
On the good side I take some comfort in the phrases used by Rita and/or Stephen, "management is focused on continuing to build value for shareholders". and "remain very appreciative of the support it continues to receive from its shareholders".
All Oil companies ( especially shale ) being hammered to the floor, wherever that is. Oil prices will recover ( they always do ), but where the dust will finally settle is an unknown.
AIM hasn't just singled out this sector for brutal punishment though. Mining stocks are getting smashed up just as badly, but if you look across all the sectors on AIM, it's a similar story.
I'm currently down 35% with security firm WSG, and even though they've recently won two good contracts, poor sentiment across AIM is making people return to cash, even if it means selling at a significant loss.
AIM has become even more insidious as the bigger players discover new ways in which to manipulate a share price to their advantage, but AIM needs better regulations if confidence is ever going to be restored in this market.
No Santa rally this year, but that doesn't surprise me at all, with new global concerns returning to the front. Cash is king once again, with the day traders taking their comfort from being just that, but for those of us that are locked into our crumbling winners ( lol ), it is going to be a very cold winter of discontent.
If anyone had said to me back in 2012, that in two years time, MAGP would be struggling below 1p, I would have sent the White jackets round to their home, but the world was a different place back then. So what do you do? If you truly believe that your investment is destined for solid growth, then you hold and accumulate. If you have any real concerns about the reasons why you invested, then you have to ask yourself if you can see markets changing for the better in America and Europe over the coming months?
There may be a very tough decision to make as selling now or later will undoubtedly be at a substantial loss.
As for me, I've only invested what I can afford to lose, so I will not be selling so cheaply, in fact I already have my eye on this sector as stocks are going to look extremely cheap as we enter into the new year.
Hi Robsky-I have just returned from a long weekend and found an e-mail from Sr.Brides-verbatim below: 'Dear xxxx,Thank you for your e-mail.At the present time,management is focused on continuing to build value for shareholders.The company will therefore not be providing a prize but management remain very appreciative of the support it continues to receive from its shareholders.Kind regards,Frank.' No comment,regards,OS.
CJ, i tend to agree, having put 7 years worth of savings in here, and nursing a far bigger loss thus far, but this is not the faultt of MAGP, its the AIM market in general as you suggest. MAGP has been a solid performer, and its demise has been as predictable over the last 2years as was over 5% being instantly wiped of the value today following a couple of negative comments and a few tiny sells!!.
Its a casino, there is no logic, and the house always wins!
Well Name: <Coffman 26-27-11 1H> Pun Number: <003-213044-0-0000> Location: <Oklahoma> Formation: <Mississippi Lime> Operator: <Chesapeake Energy> NRI%: <1.17> Net Cost: <57203> Status: <Producing> Initial Production Date: <17/10/2014> Net IPR: <6.6> Latest Gross Production: <May14 - Aug14> <Oil - 366bo> <Gas - 190boe> Comment: <A fairly recent well today. Looks to be off to a promising start, good production for both oil and gas. Only 4 months in and already greater than 55% ROI. Put it another way, this one well has generated circa $32k since in the 4 month period May to August, a great return. More cash in the bank...>
Disclaimer:- This information is correct to the best of my knowledge and is based on publicly available information. Any corrections or additional information will be gladly received
I certainly don't mean to cause offence with my previous message, and maybe it's unfair I say people were novices and naive, I am more speaking for myself. But I made a huge error here, I saw magp at the 2.3p mark about 2 or 3 years ago and read lots about the track record of Rita and the board and saw how MAGP was growing and the SP was growing. I kept buying and buying as the SP rose rapidly to 5.1p, who at that point would have forseen this at below 1p? My investment of £6000 is now worth less than £1300. It took me ages to save that. I really was naive, I knew little about the AIM, but what I know now is avoid the AIM market like the plague. I have followed so many shares - GKP, ORE, ACP, and all of them the SP has nose dived in them all. Another share I really liked was Afren, and although it's not an AIM share, I felt it was a cracking share, a bit like MAGP - ever adding to it's portfolio of assets, constant increase in production and revenues, it looked a company on the up - I got in at 85p and sold out at £1.30 so I made money but I am gobsmacked at seeing it now. It started the year at £1.70 mark and now is on 34p. There will no doubt be people who have seen their investment now worth 20% of what it was a year ago.
At the end of the day we all came to invest as we wanted to make money. It is soul destroying to see so many of us lose thousands.
I still find it quite amazing what has happened at MAGP. I really believed the only way was up. You only need to look at the directors deals, the last ones were buys at 2.8p 14 months ago, the directors must have felt things were going up too. I really hope that things improve and we can get our money back but I have no confidence whatsoever any more. We may think the only way is up but we have thought that for years. You learn from mistakes and I will never invest in AIM shares again.
CJ39 -- Agree in part with you. It all depends what individual stances from Day One were on the investment. My commitment began in November 2011, fully aware of the historical sinkholes.
Some time next week I shall mail boak and L1onheart with a couple of observations and see what they make of them. Unfortunately, I have mislaid other email addresses, and there is no point guessing on uncertain grounds at a time when all O&Gs face further punishment.
You can't argue that CJ as I bought in December 2011 and ten bagged but never sold and went out on three stop losses at 2.2 -1.9 good move as it turned out in hindsight .Aim can throw some good winners but I have found every one I have been in falls so I sell at a decent profit before the inevitable happens or try to anyway.Magp was holding at 1p well but now even that has gone due of course to the Oil Wars ,turbulent times ahead for sure and Aim is not the place to be right now but that can change I don't believe this oil battle will last more than three months and on that basis believe there will be some cheap stocks worth looking at in the new year.
Big time by investing here. Another AIM disaster for investors who thought a growing oil company would mean growth of our investment. We all thought we knew our stuff but were naive and novices. Learn from mistakes!
* Rig count in OK is unchanged this week at 211. However, the situation is not a good one at present and will have to be watched. Any further falls in WTI will mean the cut off point is being reached.
* SoonToBe -- That's very good copy you are producing. I know it entails a fair amount of work.
* I guess everyone is following global oil news so there is no need to post the mixed messages that come through each day. In sum, all O&Gs are taking a hammering and downward pressure could persist for at least six months.
* MAGP revenues will falter during Q4 but the overall picture should be well up on 2013. Regrettably we are unlikely to see another 230% receipts increase this time around.
* Hope extension options have been built into all existing leases. "Held by production" (HBP) safeguards producing wells but the spectre of leases lapsing after 3 years, owing to reduced activity, is not going to shore up the acreage position. We could do with a boost in the land position, as indicated by the BoD. There has not been any significant addition since the decline in oil price. It might be a result of management biding its time.
* We could do with an announcement or two from Broken Arrow next week . . ..
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