The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
http://oilprice.com/Energy/Crude-Oil/Heavy-Crude-Production-Hit-Hard-By-OPEC-Cuts.html
As Rita has mentioned raising funds in the future?? Would not be feasible for MAGP to buy shares from NTOG now at this deflated value and then sell at a higher value once we set sail again so we do not have to have another massive share issue ??? I suppose we need the cash in the bank at this time.!!! You never know we may have another RNS saying the BOD are buying their own shares to show some support next week !!! A Dodo has got more life in it than we have at the moment ;-((((( Come on Rita LETS PUT THE SAILS UP AND FLY
Financial Review H1 2017 revenues of US$510,290 (H1 2016: US$633,585) Half year EBITDA of US($77,558) compared to US$135,556 after removing foreign exchange and impairments during six months to 30 June 2016 Tangible assets (comprising producing properties) of US$3,856,948 (H1 2016: US$7,217,415) Issue of 763,730,000 new ordinary shares in the Company, representing 29% of the enlarged issued share capital to WED as part of above exclusive capital management agreement US$208,950 repayment of credit facility – balance of credit facility as of 30 June 2017 US$2,561,766, current balance of credit facility is US$2,315,789 Magnolia CEO, Rita Whittington said, “Our portfolio of 159 producing wells, low cost / low risk strategy to acquire and develop leases alongside established operators, and management team with a track record of value generation in the US onshore sector provide us with a strong platform to capitalise on the pick-up in sentiment and activity we are seeing. WED recognises this and, along with the successful pilot programme, lay behind their decision to select Magnolia as their exclusive partner to manage US$18.5million on their behalf under the US Immigrant Investor programme. We look forward to receiving the initial funds under this agreement.”
https://www.investegate.co.uk/magnolia-petroleum-plc/prn/half-year-report/20170922070000P4271/
Overview Interests in 159 producing wells in proven US onshore formations (H1 2016: 151) - 10 new wells commenced production during H1 2017 Increase in activity seen – approximately 75 proposals received for new wells in highly active plays such as the SCOOP and the STACK in Oklahoma Elected to participate in 28 new wells – majority are low risk, increased density wells on leases where production has already been established Successful pilot programme with Western Energy Development LLC (‘WED’) led to post period end agreement to invest up to US$18.5 million on behalf of WED into the Oklahoma oil and gas market in return for Magnolia earning fees and equity in new leases and wells US$500,000 pilot programme generated 100% rate of return and 3.26 times return on investment Over US$200,000 in value generated for Magnolia: US$75,500 via lease bonus and carried interest for 25% in first well within each spacing unit; US$127,982 uplift in PV9 value of reserves WED is an affiliate of Western Energy Regional Center LLC, a United States Citizenship and Immigration Services (‘USCIS’) designated Regional Center WED expects the first investments to be received shortly following finalisation of relevant documentation between underlying clients and WED
RNS HALF YEAR REPORT ;-)))
https://simplywall.st/news/2017/09/21/who-are-the-major-shareholders-of-magnolia-petroleum-plc-aimmagp/ Rita you need to show who's BOSS
RNS for Half year results OR RNS announcing a new chairman ?? Who will it be Robsky have you been asked to fill the post ??????
https://www.cnbc.com/2017/09/14/oil-prices-holding-gains-as-demand-outlook-brightens.html I hope you are correct MisterT2 ;-)))))
smidsy you missed the BULLISH HARAMI Not sure if Robsky as lost the Baby BULLISH DOJI STAR or could we have an BEARISH ABANDONED BABY ????? https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=MAGP.L
Morning smidsy been up all night as the sea is a bit choppy in this wind. Hopefully there will be more ship mates about once Rita delivers the half year report next week ?? or could it be the week after??
NTOG just walked through the door how quick will the sell ????
http://magnoliapetroleum.com/shareholders-analysis Well Boys and Girls The SOS Family have now disappeared from the documents that we are allowed to see. But where are NTOG have they already sold enough to go under the 3% holding so they don't have to register???? Anyway now all that business is behind us we look forward to the half year report followed by some better news from Rita and the BOD???? an appointment of a new chair from WED would probably help and an announcement to state the direction in the future development of MAGP from here. Note to Rita !!!! Us small investors need to regain our losses so please hurry up ;-D.
6 September 2017 So SOS now has his money so the numbers on the Share Analysis Web page should soon change ?? Nostra Terra Oil and Gas Company plc ("Nostra Terra" or the "Company") Completion of Settlement of Magnolia Shares Nostra Terra announces that the settlement and registration of the 177,872,747 shares of £0.001 in Magnolia Petroleum plc ("Magnolia Shares") that the Company has acquired has now completed. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
Sep 26, 2017 Half Year 2017 Magnolia Petroleum PLC Earnings Release (Estimated) Will this be the start of the turn around???? with SOS OUT OF THE WAY ;-))) What has Rita and the BOD achieved ???? Answers please
Thanks smidsy I now have TWO songs to howl to. Happy Days ;-D
https://www.cmbeb5visa.com/projects/eb-5-partnerships-capital-returned/?gclid=COSg7de4ktYCFekp0wodUBQGCw MORNING Boys and Girls I AM NOT ALONE ;-D https://www.bing.com/search?q=i+am+not+alone+youtube&form=EDGTCT&qs=AS&cvid=e0d0206eace943f2bbe348457801790e&cc=GB&setlang=en-GB I can now run round chasing my tail waiting for Rita to come home and give me that extra BONIO she promised at the beginning of this epic journey with all you lot here.
As usual L1 bang on so the conundrum for us all the do we all take a bite of the apple to keep them in OUR family so hopefully when Rita lets rip with WED in tow we all benefit. But how long will it take ??? Thanks to everyone who pop in to say hi so I am not bill no mates after all ;-D Just need Rita to come home with the goods now