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http://www.cnbc.com/2017/06/15/reuters-america-in-latest-sign-of-crude-glut-ageing-supertankers-used-to-store-unsold-oil.html smidsy have you left the bar door open as I can hear the missing crew singing as nothing else is happening here at the moment!!! "Row, row, row your boat, gently down the stream! Belts off, trousers down, isn't life a scream?" Turnip soup toped with rat tail now being served in the galley. yum yum ;-)
MrE, now there's a thought; good money to be made in Turnips so I hear. We have to laugh as LTH'ers don't we lol !
Perhaps NTOG plan to plan turnips on the land, better profit than getting the oil out.
"What would Baldrick have to say to that ;-( " "I've got a thingy shaped just like a turnip" .......
it's about $43 b/e now I believe! plus a bit of bullshite factor
Yikes !! Isn't $30 a barrel MAGP's break-even price? Or has that changed? The new efficiencies of US shale oil plays may ironically turn out to be their own downfall by driving oversupply and a falling dollar per barrel. And I see that US shale oil production is set to increase by 122,000 bopd this month too ! Holding my head in my hands here .... oh for some great news :-\
More buying into other companies! NTOG up at the moment will this have the same effect on us if their cunning plan goes through. What would Baldrick have to say to that ;-( http://sd.keepcalm-o-matic.co.uk/i/keep-calm-for-i-have-a-cunning-plan-1.png http://www.lse.co.uk/share-regulatory-news.asp?shareprice=NTOG&ArticleCode=qkrgkrx1&ArticleHeadline=Agreement_to_acquire_further_25_of_East_Ghazalat
http://www.cnbc.com/2017/06/13/crude-oil-could-drop-to-30-again-as-oversupply-may-persist-fesharaki.html Do we have a DAY / MONTH / TIME for the GM yet or are the BOD gathering evidence to show that we do not need Mr SOS or NTOG ???
morning Smidsy is Rita going to blow SOS plans out of the water with the final results update or a plethora of wells coming on line or better still BOTH . The red corner must have a plan but when is it going to be revealed ? The silence is deafening lol
Good morning maggots, Whilst SOS is trying to copy J R Ewing from Dallas don't forget we have the 'final' results due in the next few days :)) They should be interesting.
Makes sense in that explanation.
Fair comment about our current situation but I was really referring to the past two companies that Rita (and Stephen) had been involved with. In both cases the format that MAGP has been following reaped very favourable rewards. That seemed to be happening again with MAGP and then the wheels fell off big time. This may have been down to the drop in oil price, the rise in shale oil production or decisions taken by OPEC. Of course there may also have been an issue with the tried and tested format not being suited to modern day thinking. Perhaps that's what caused the rift at board level. All thoughts and opinions are welcome
Point 5. Define successful. We are trading at 20percent of launch price. 2 percent of our high.
Well I did say we needed solid news and should be careful what we wished for and look what happened! Long term holder and trusted crew mate Smidsy seems to be leaning towards accepting the new order, trusting them to shake the company up and lead it to a brighter future. I however have a number of questions about that. 1/ If it is just Rita that they are looking to dislodge, what happens with our recent two additions to the board? I put the point in an earlier post about if there would be a further rights issue to create shares to pay them or if they would draw cash. 2/ A similar question to be asked about the two new board members. Cash or more shares in issue? 3/ What will happen to the flow of proposals for new well participations?. Rita seems to be the person that other operators trust to link up with and we don't want to lose that good will. 4/ What happens to the policy of proving well sites to accumulate a portfolio of productive land for sale? Will NTOG just asset strip MAGP's existing interests to incorporate into their own holdings turning them into production only units. 5/ What value would be put on MAGP shares? Many already feel we are undervalued and in the event of a takeover any potential future rise would be dependent on the new company policy not the old, previously successful one. 6/ If the move to dislodge Rita is successful would there be a block on her starting up another company? How many shareholders would jump ship and follow her if she did? There seems to be an awful lot of information required to make a reasoned judgement on what is the best course of action for those of us who had a medium to long term plan for our investments. Going on past experience I do wonder if that info will be forthcoming. I appreciate that no-one may be able to provide definitive facts at this stage and people's opinions with invariably differ but this is way to important for us to sleepwalk into. The General Election turned into a bit of a maelstrom, the last thing we want is for this to follow suit.
Frank will you be having a live stream to your office from Broken Arrow when the General Meeting takes place. If so can all UK share holders attend to hear what is going on + vote. Or can this be arranged ??
Ive been in ntog as long as i have been in Magp. The CEO ML seems utterly useless. Id have more confidence if it wasnt him taking an interest.
I'm currently struggling with this one, yes a shake up might be good, there again if that ultimately results in a shake out of the smaller PI investors at minimal cost then its not so good. Believe it or not the balance of the voting power probably sit with the smaller PI, however most of the time they fail to turn up to these event and fail to vote by proxy. Clearly this is hostile, otherwise Rita would step aside, so SOS and Rita have fallen out, SOS has sold out to NTOG, where does it go from here, you do you trust with your investment.... As I say, I'm struggling with this one, more information please. Could somebody give both Rita and SOS a call and get to the truth please.
If you were looking to invest in oil Oklahoma what would you want, ideally the drilling result information from several major wells from several major companies. How do you get this information on the cheap?
Question to long termed. How much we really worth . Say 4mil proved therefore about times 10 underground not proved then tangible i.e. leases maybe 5 mil plus intangible so maybe 50 mil maybe why interest ???????
I have been a shareholder here for many years - since the 4 pence days. I have held on - foolishly - and seen my investment become virtually worthless. I can't really see how the current games can make it any worse - nothing much more to lose. For that reason, I am regarding it all as a glimmer of hope.
Aka Zac "the knife', oil analyst at SP Angel amongst other things. Very smart cookie.
These two possible replacements must have seen something promising in Maggie for them to agree to join the company. Their credentials look very interesting and no doubt they are astute business people. I suggest that with their expertise they would not want to join a failing company.and must see a very good future for MAGP.
It would be interesting to know how the other BoD members will be voting.