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i got my timing right bailed and gone into something else now
Ramping crew in force..... Still a turd but good for the 0.4p buyers
Well done all.
Your not a numpty your a great guy - no the recent negative news made mms frightened to death of holding or bidding for potentially worthless shares - now there’s demand they don’t have any and no one selling - because there was a plan B and probable light at end of tunnel for Half decent punt (better than most) at worthless mkt cap. Some result to generate 1.5 mil ? in a fire sale whoever managed that could get stevie wonder a driving licence !
Another buy another tick up Now 88%
RTO.....
What's happening to Maggie. Now up 76%, Every time there is a buy the SP goes up ? Can someone explain to this numpty what's going on?
0.27p (64.66%) on hl never seen this before with MAGP lol
Interesting to note, no mention buyer name. After de listing, another MAGP reincarnation with familiar names under a new logo.
Just phone them up.
didnt they sell some wells off a few months back someone posted the links to the auction/sale site they saw them on
market cap at 1p 350k only
From Today's RNS: "The Company's current portfolio comprises interests in 108 wells and further details of the interests in wells and their economics were included in the Company's operations update on 16 April 2018 and in the circular of 7 June 2018." Extract from 16 April RNS: Q1 Highlights to 31 March 2018 - 119 producing wells in the Company's portfolio as at end of Q1 2018 - 11 new wells proposed, 8 wells currently at various stages of development including in the prolific SCOOP and STACK plays in Oklahoma. So 31st March there were 119 producing wells and now, when as many as possible are needed to recoup debt, there are 11 less....... Does this mean that 11 have stopped producing in the intervening period or another case of BS maths by the BoD?
not seen wodger mentioned for year thought he was long gone
Morning Smidsy I think the BODs sole intention is to be seen to be trying reduce the debt to the bank while covertly picking off shares to get delisting over the line which will allow them to rebuild or sell the remnants for themselves. I dont mind reducing debt but rather they look for a decent bank to refinance IMHO
At this stage I see no choice but to agree to the Fire-Sale. However, if we knock out some of the family silver at $1.5m under duress, it seems particularly inept that we could not secure an asset backed loan way before the crisis. I also note the BoD like to have a "be afraid" disclaimer in just about every RNS. Why bother?
With the assets sold what do they use as collateral against borrowings?
Arranging refinancing for the outstanding £500K is surely and easier task than refinancing $2M. That is unless the finances are completely shot which is probably the case. Are the BOD able to put forward a compelling case to encourage a bank to lend a tiny sum? This is not pleasant to watch.
The proposal would clear a large amount owing to the bank and I am all for it but have the BOD got further plans to clear the balance of the debt?
How did you do that? I wouldnt mind doing the same.
I'd assume that these are just private investors taking a punt; a back of a fag packet (remember them) calculation suggests that given the current SP I could cross the 3% boundary for less than 3 grand... On the assumption that the proposal to sell assets to repay the loan will be passed (I personally see little choice on this one) then there will see be some value to the company. The company would then be 'stable' and as such WED would potentially resume their investments. If I was the BOD then this is the type information I'd be putting out there.. Suggestions to BOD - Announce that once the loan has been repaid all board member will accept a salary reduction of 50% - Announce that once the load has been repaid it will be business as usual with respect to the WED investments - Announce a full and complete list of retained assets and their estimated value - Announce a shareholders representative (ideally unpaid) has been appointed to the BOD, perhaps one of the new 3%+ holders would like to step up as communication director?
I was able to transfer my �2 holding to charity through Halifax for no cost last night therefore saving �25 for a share certificate or �12 dealing costs.
not sure if this is relevant but wasn't Snead looking to diversify Magp into the IT arena a while back via a family friend /member, Quantum Shift is an IT cyber security firm maybe some links are still here and maybe a R.T.O. is the way for them to list. they have 2 directors a louise Rushton aswell ???
A2 I think there is a period of time between buying the share and actually having them , "settlement date" when you would maybe get the voting rights. Like the BOD will be trying to build their holding. IMHO GLA
Interesting that I bought some more shares on Friday. However I don’t seem to be able to vote with these. Just my existing ones have been counted Are only the shares that where held when the vote was announced allowed