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Judgement on investing in Block looks like it was a good one (up today circa 80%) shame that CW sold them - let's hope Gonzalez got it right with Petroteq (and that we will still own them)when they are a lot more valuable !
News is definitely overdue on the 2 work overs.....and given today's date don't really want to see one today!!!
on 28th February:
"The work-over program, fluid testing, and new pump installation at Montsanko is expected to take approximately 21 days."
So already a week behind their own timelines.
More delays Charlie - is anything actually moving forward ?
Please update your incredibly long suffering investors.......
Both Petoteq and Mayan have some unanswered questions...
Get on with it!
"Mayan's new contract operator, Attis Operating I Inc. ("Attis"), has begun preparations over the past week with the rig scheduled on site on Friday, 1 March 2019 to commence work-overs on the Morris #1 and Montsanko wells. The work-over program, fluid testing, and new pump installation at Montsanko is expected to take approximately 21 days."
Just had a quick look to see if there have been any changes to the 'New Mayan'website...
Checked out 'Operational Video's'........nothing there (which says it all really) but it does say "coming soon" !
Can't wait.
August 2018 in the New York Times
"When the newly expanded plant begins commercial output it will yield 1,000 barrels a day for shipment by truck to refineries in Salt Lake City, 150 miles away, where they can be processed into diesel fuel. The production goal is to reach 5,000 barrels a day in three years."
Can anyone find the capacity of their storage at the plant in Utah?
Are they only selling now because storage is full to over flowing?
My understanding is that as they up their production the oil was being trucked to Salt Lake City - does anyone know if this has been happening?
Just find it strange that they are supposed to be producing 250 bopd now and upping into to circa 700 bopd (by end of last month)....
So why announce that they have sold 2 lots of 250 barrels now? (I understand it's a higher grade) - are they saying that's all they have to sell? Or is oil being trucked to Salt Lake City on a continuous basis assuming they must be doing circa 500 bopd now and won't have the storage capacity to keep it?
Clear as mud imo!
As I mentioned last week........
If the well respected operator runs accurate timelines THIS IS THE WEEK we should hear wether the 2 work overs are going to bear fruit.
Also news on Petroteq's targeted 1000 bopd is well overdue ....
If both are positive Easter eggs all round!
Let see if there if there will be any bottom feeding this week...
On the 28th February 2019
Commencement of first 2 work-overs
Mayan's new contract operator, Attis Operating I Inc. ("Attis"), has begun preparations over the past week with the rig scheduled on site on Friday, 1 March 2019 to commence work-overs on the Morris #1 and Montsanko wells. The work-over program, fluid testing, and new pump installation at Montsanko is expected to take approximately 21 days.
So if Attis are as competent as the company claim one of these work overs should be done and dusted and well down the road to completing the second....
So possibly news this week if ahead of 21 day target and if not definitely next week?
Positive findings on these initial work overs coupled with Petroteq announcing they have hit their bopd target are required here!
They have said they are already doing 700+ bopd but agree they are not keeping their own deadlines......like another certain company I could mention.
I for one hope that Mayan still have their 1million shares and 1 million warrants as in any time soon they might well be worth more than our current market cap.
Maybe get the 700 bopd announcement this week as weather is now stable
https://www.google.com/url?sa=t&source=web&rct=j&url=https://weather.com/weather/tenday/l/84078:4:US&ved=2ahUKEwjp17mo3PngAhWRo3EKHW20CvoQFjABegQIAhAB&usg=AOvVaw10vZtOvE-okbLCDghxH-kl
But more interested in some home grown news here.
Yorn1000....
.....if you are so confident this is going to fail by month end I presume you might be shorting this to make some serious money? Lol
The 700 bopd by end of last month needs to be ratified by Nomad so allow a couple of days
Wonder if Norma will make the tea......
Looks like Block are upping their game - shame CW sold our interest.
https://uk.advfn.com/p.php?pid=nmona&article=79342554&symbol=L%5EBLOE
Hope he doesn't have a similar plan for our Petroteq stake.
We must be due some update on the 'New Mayan ?
Try Torquay United .....this team is the real deal in demolition!
Actually now top of the 6th tier in English football...so is Mayan on the ascent?! Lol
The company said:
"Mayan Energy Limited is an AIM listed (London Stock Exchange) North American based energy company. It is actively pursuing a primary recovery oil strategy focused on re-stimulating wells within mature producing basins with immediate cash flow leveraging commercially available technologies and projects that are shallow, low risk with low levels of capex and infrastructure already in place. "
My question is simply have they managed to stimulate any wells and in so doing are they now an oil producing company?
Charlie please be courteous enough to update the long suffering investors here!
Hey Helpful can you find an analyst that could apply 314% uplift for Mayan!! ? Lol
We must be due some news on our assets this week? Charlie has had more than enough time to deliver than first part of the recent corporate presentation imo.
Which will come first ?
Stockdale
Austin Chalk (and not forgetting Eagle Ford)
Zinc Ranch
Forest Hill exit settlement
We know there is production going on but how much?
The share price last February was 0.93 - we are overdue some positivity here and cannot rely totally on Petroteq to drive this company forward....
Everything crossed!
The company must have been updated by the court by now?