Member Info for discopablo

Really? NTOG approached to reduce cost base of MAGP? This is an extract from 28 Sept 16 RNS: Magnolia CEO, Steven Snead said, �Against such a challenging market backdrop, to have generated underlying earnings of US$59,416 for the first half having reported a loss of US$560,919 in H1 2015, is testament to the excellent progress we have made in realigning the business to the current low oil price environment.� This has seen a 31% reduction in our cost base; the divestment of interests in 67 non-economic wells; the repayment of a large portion of our reserves based lending facility; and our focus on participating in only those wells which have attractive economics at today�s oil and gas prices.

There are a few buys on NEX, one of which is mine.

I think that's Rita in the red corner.

Your first point is very good Baks. I had not clocked that it was published by NTOG rather than by MAGP. Of course with the holding being above 3% they must let the market know but surely they should report to us and let our Bod then release the news in our own way. This might sound like splitting hairs but actually the wording can be very important as you have yourself pointed out and don't really need me to comment further. The use of the word acquisition for example - it is clearly phrased in a manner to try to benefit the sp of NTOG rather than MAGP - I mean the whole script is really!! I can't see RFW being anything other than furious with the way this has been reported. I certainly don't see NTOG as having significant influence at all on MAGP either however. 10% simply isn't enough. She will continue in the same manner of the last few months I'm sure. Happy to hold. All the best

Hey GD Yes, don't get me wrong, I'm not sat here with my head in the sand and I definitely appreciate GG and L1's posts. However we must remember SS resignation RNS - there is absolutely no love lost here between him and the Bod so we must IMO take that into consideration regarding his wider motives. SS selling out is hugely different to RW agreeing to a placing at a 47% discount. There is no comparison and I don't sign up to this price being indicative of true worth. I suppose you can choose the blue corner or the red. Blue is that the company is close to failing and RTW is just desperately desperately trying to save the company. Red is she knows what she's doing, she's got a plan and she isn't a busy fool. I'm in the red corner. All the best.

This is a private sale, not a placing. Whilst I appreciate prima facie it doesn't look good, it doesn't in my opinion mean the shares are worth 0.06p. For all we know he could be privy to something in ntog making the shares he just purchased cheap as chips thereby having to take a drop in the magp value to equalise his deal. 10% is a minority holding anyway. You can't just multiply that by 10 and say that's company value. Having said all that WTFDIK!

Indeed Robsky! Just to clarify I am not predicting a placing, just saying that it's an easy point for doomsayers to latch onto and as they then always seem to do - ignore everything else, usually all the positive information. All the best

It's not difficult to understand why some think a placing is close - the board did just get permission to authorise more shares! Maybe they will maybe they won't but it's an easy win for the doomsayers to predict a placing.

Yep - in summary I think you are right Ian. Shouldn't be long until we're back in the 22-26 pattern as per pre official results. Then, as you say, CEO appointment, up to 30. That would be my opinion. Market likes to see direction and it will get it.

Why is this 12% down?! Aren't the results in line with what we were told they would be the other month?! Bought 750k more earlier at 20. Mcap of 3.36M is too low.

Newbie with respect you can't criticise other holders for not asking certain questions at the AGM if you didn't even go yourself. Yes there might have been reasons why you didn't attend and that's fair enough but don't start criticising those that did make the effort. I was unaware of the seasonality that Ian mentioned the other day. For that reason I sold a few million at 26/25. I've since looked into that seasonality with the only information possible which is the 6 months to 31 jan 14 and the 12 months to 31 july 14 - I think after that it was 18 months to 31 Jan 16 but please correct me if I'm wrong. T/o 6 months to 31 Jan 14 was I think 890k and t/o for 12 months to 31 july was I think 1,410 meaning of course t/o for H2 14 was 520k vs H1 14 890k. That's a huge difference and bears out the seasonality that Ian mentioned. Thanks Ian for taking the time to post about this - I subsequently bought a further 750k at 21 the other day. Thus company is definitely going places and it's nice to be invested in a company with a net margin of roughly 25 - 30%. Not many on aim with such a small market cap. Best of luck to all.

Much obliged Paulie - thank you. I think if AIM companies were more open to holding AGMs anywhere other than London, then perhaps more would attend - but that is another matter entirely! I promise I am not a bitter Northerner!! Looks like some PIs have been outwitted by the MMs in the last 30 minutes or so. SP looks to have been dropped to cater for some more expensive buys at 0.25. These are worth at least 40 IMO. GLA and thanks again for sharing Paulie.

Post rec Appleby. No intention of selling at 0.25. Values the company at 4.65M which is some way short of my own assessment.

Halifax have 24-26. Just been offered .245 for 3.65M.

With respect you personally weren't right about anything All you've done is regurgitate what TW has written. All I can see is your post about there not being a profit. If there wasn't a profit. Ok so bottom line was a small loss but that's after exceptionals. And besides in this game cash generation is king and you seem to have overlooked the £1m EBITDA which says to me your argument is not balanced - for what reason I neither know nor care.

Yes but problem is can the NOMAD remain whilst this is ongoing? This might well be without merit but no NOMAD is temporarily at least no listing again. I bought more this am at 0.18. Next time I'll warn everyone!!

Thanks for the update. Not being listed as I think you'd agree doesn't mean the bottom is about to drop out of the company. However it is of course important as without it there is no readily available market in which to trade the shares. I'm quite relaxed here I must say. Main reason being I don't think any party is going to end up sending the company down. However I do predict that we won't have a NOMAD by 23rd March unless legal stuff is sorted out and we'll be off aim at least temporarily. But I also believe that we'll relist at some point in the near future. Cheers!!

Cheers! Hopefully we'll relist at some point ha! Ultimately I don't think the bondholders have an interest in sending the company down the pan. There is some serious value here. Just need it to rise to the top lol! Now please stop posting here and get cleaning ;>) All the very best.

Lol - legal not egalitarian - damn phone!

I think the issue must be the legal proceedings. I'm not even sure NOMADS can touch companies going through egalitarian proceedings but might be mistaken. Either way I'm content here. I have 550k shares so I guess I have to be. A NOMAD will be appointed but whether or not that will be within the next month I'm not sure - all depends on legal proceedings completion date for me. I should imagine the bond holders won't force administration under an act of default. It's not in their interests quite frankly. Sit tight.