Solid foundations are now place10 Jul 2018 07:24
Petroteq- chart view posted on ****ter
“looking good - 8/34ema cross-over, MACD cross-over and breaking top of bollinger. There is a gap at $1.43 waiting to be filled. See this heading back up towards $2.1 soon. #MYN should benefit from this as well.”
So Mayan have a 17.1% interest in 6M PQE shares and warrants via Deloro. 800 bopd currently moving to daily production of 1,000 bopd in a couple of weeks. Our investment just in fully paid PQE shares will be worth we’ll over $2M soon and growing fast.
Forrest Hill operator sorted, full speed ahead.
Stockdale- 7 new wells all fully funded- fingers crossed the Morris gas discovery continues across these new wells. Short lead time, we’ll known soon.
Zinc Ranch - fully funded, again full speed ahead on workovers soon etc
Block Energy - fully funded workover programme in progress underlining Mayan 3%+ equity investment.
Oil and gas prices strengthening daily.
With no bank debt, Mayan should be cash positive very soon - funding future low cost, low risk work overs from own cash flow.
For these reasons and more, Mayan is a strong buy - expecting Align to update their near term sp target of 2.1p as production ramps up to 500 bopd which cannot be far off now.
We have been saying this for sometime now but Mr Market cannot ignore these fundamentals much longer.