Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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http://www.proactiveinvestors.co.uk/companies/news/178061/magnolia-petroleum-s-well-participations-signal-uplift-in-us-oil-market-178061.html Not sure if anyone put this up
Really, really !! I know that we've discussed this before previously, but just how do you think the MMs holding this down? If somebody is buying 5m / 10m; then somebody else is selling them.
UP 8.1% live Sell: 0.10p | Buy: 0.12p | no change0.01p (8.18%)
Magnolia Petroleum PLC (LON:MAGP) has told investors it will take stakes in twelve new wells in the United States. It will invest a total of US$270,300 in the well programme which will take place in the Woodford play and the Mississippi Woodford, both in Oklahoma, as well as the Bakken in North Dakota. The company will hold between 0.12 and 1.4% in the new drilling ventures. All twelve new wells are awaiting spud, the company said. http://www.proactiveinvestors.co.uk/companies/news/176583/magnolia-petroleum-to-invest-in-12-new-us-wells-176583.html
Another CLR well Trammel comes in today with 1808BOPD and 2952 MCF from Springer in Grady just as we get involved with Celesta 2 no 1 came in with an IPR @1084 boed. We have a strong line of well drills waiting waiting waiting. The Pickle 2-9-4-33H from Bravo should be next in, the frack finished on 8 th May. but the big stuff has yet to come with Sympson wells, once we get the income from these we are off running. Good to see yet more investment has been carried, only small NRI but every little helps. I think you guys could be right about the SP being held up but why does the buyer not just get loaded and get on with it, the LTH's are not selling the opposite is the case as Buzz has demonstrated. IMHO DYOR GRADY COUNTY Continental Resources Inc Springer(12328): Oil 1808 Gas 2952 Water 1449 Flow 11 6N 6W Trammell 1r-11-14-23xh, February 10, 2017
I topped up this morning with 1.5,I'm trying to do my bit lol.... This won't move till the mms want it to,news could be amazing ....this morning this should of been 20% up but they are holding it down for their buyer....zzzzzzzz That's why AIM is so corrupt!!
Yea, It does seem like MM's are doing something here. Its been 0.10 bid and 0.12 ask since the 3rd May... not moved on anything, and always a 20% spread. Would be nice to see a few more trades coming in though.
If you go back over the last few weeks there were loads of 5 and 10 million buys and no rise..... Mms are holding it down for buyer imho Once they are loaded this will double then start moving to .4-.5 GLA
Another strong RNS, loads going on... and 3 trades??? where are people?
I feel your pain,I'm in SAR too,both of these shares should be 20/40% higher at least!! The mms won't take them up until investors drop off,start selling and get bored.... Then with no news they rally.... Market is Fooked!!!!
No rise??? Huge buyer over the last few weeks,obviously not done yet.... Let's get the mms pals in and maybe we'll go up....AIM is so corrupt!!
I am the unluckiest investor there has ever been! Two stocks im in (SAR being the other) seem to be making great progress. The SP goes either sideways or down! Guaranteed the moment I sell (I'm not going to), the SP would explode!
Workovers have positive implications for the overall level and value of our proven developed producing (‘PDP’) reserves which were recently independently valued at US$4,300,000. At this level, the value of our PDPs already outstrips our current market capitalisation. Workovers therefore have the potential to increase the already strong asset backing behind the Company.”
Wake up mms!!!!!! This share will re rate very soon...... Mms doing a terrible job as always!!!
Morning all another superb RNS the workovers with high NRIs will be useful to benefit cashflow while more drilling to prove acreage.Would like to have seen some results from new wells but this is likely to snowball effect soon
If the Final Results for the year, which are due in June, show a profitable and excellent year then Maggie has to start to show some recovery in the SP. Today's RNS confirms to us that the BOD are in control and have a sound business plan.
Answered my own question. Summary of Wells Category Number of wells Producing 157 Being drilled / completed 13 Elected to participate / waiting to spud 49 TOTAL 219
Excellent news ! Bargain price at these levels imho..GLA GandT xx
Morning all we have another young lady on our books her name is Pauline I wonder if she will be as racy as miss F ?? HOPEFULLY SHE WILL EARN MORE FOR US ;-)
Good morning maggots, Anyone have any idea how many Wells we have in the system at present?
Magnolia CEO, Rita Whittington said, “We are encouraged by the number of new proposals we are receiving to drill alongside established operators. In our view, this provides further evidence of a pick-up in activity and sentiment in the US onshore sector, as highlighted by a more than doubling in the latest Baker Hughes oil rig count to 712 from 318 a year ago. It also validates our strategy to focus our lease acquisition strategy on prolific plays, such as the SCOOP and STACK in Oklahoma, where the economics of drilling are attractive in the current oil price environment. Furthermore, all seven wells are deemed to be low risk due to either being drilled on the same spacing unit as an existing producer or as a result of Magnolia’s share of the drilling costs being fully carried. “Working over an existing well provides a low cost, low risk opportunity to increase production rates and recoverable reserves. In a low oil price environment, this is an attractive proposition for operators and with a portfolio of 157 producing wells we expect to participate in additional workovers going forward. Workovers have positive implications for the overall level and value of our proven developed producing (‘PDP’) reserves which were recently independently valued at US$4,300,000. At this level, the value of our PDPs already outstrips our current market capitalisation. Workovers therefore have the potential to increase the already strong asset backing behind the Company.”
Should be one of today's top rises, with this strong RNS out
Nothing wrong with today's RNS. It only gets better. :-))
https://www.nytimes.com/reuters/2017/05/19/business/19reuters-global-oil.html?src=busln&_r=0