Member Info for orslega

Align target is not $3, thought that seemed low. From Align report:

"Our analysis of Petroteq Energy is initiated with a price expectation of US$4.46 (CAD $5.71) as progress on Apshalt Ridge is made over the medium term."

That would represent x4-5 times return on the Deloro- Mayan original investment. Nice for starters.

Glib - the Mayan investment in Petroteq is confusing and it was completely restructured last month. Deloro is the investing company- Mayan simply piggyback on whatever Deloro decide to do.

So the share in production agreement was ripped up last month - Mayan via Deloro have instead a direct equity investment in Petroteq- so our investment return now relies entirely on the performance of the shares issued in exchange- so forget bopd per day. From the accounts but there was an RNS last month covering the detail:

"Deloro

In May 2018, Deloro's investment in Asphalt Ridge was structured directly with the TSX and OTC listed entity, Petroteq Energy Inc via the issue of listed equity and unlisted warrants in the company. The Group's equity interest in Deloro is 17.3%."

Deloro not Mayan had the right to invest 4M shares and warrants. It was a short window to raise a very large sum but for whatever reason Deloro let this go.

We know production is starting as we speak - when that is announced many are expecting Petroteq share price to fly. Align have issued a buy note and from memory set a near term target of US$3 per share. That would be an excellent paper return before ramping up production which is planned. Eddie is now an official advisor to Petroteq so he'll be able to watch closely over the Deloro- Mayan investment.

I realise that this it is now old hat but Eddie's done great job cleaning up the balance sheet.

Net assets at 31/12/2017 = $1,595,000 Positive

Net assets at 31/12/2016 = -$(186,000) Negative

That's after taking the Shoats Creek write down. Plus quite a few of the creditors have been paid off - but below the face value of their bills (per RNSs).

Onwards and upwards. Net assets at 31/12/2018? Well, without doubt expect to see some serious re-valuations for current producing wells - then add in another estimated 25+ producing wells planned by 31/12/2018. That will be transformational.

We now know that they had a problem with an operator at Forest Hill which has now been resolved. Catch up time.

"Workovers on an additional 2 - 4 producing wells at Forest Hill Field due to recommence in July 2018 - follows satisfactory resolution of issues relating to access and rights regarding certain leases with a neighbouring operator"

For me Stockdale is the one to watch - 7 more workovers planned to build on that gas discovery. Stockdale gas could be a company maker in it's right. Entering into Long term sales agreement suggests it could well be.

Add in Zinc Ranch, Petroteq (expect news imminently on production). Block energy (expected workovers soon), and the 5 new wells at Austin Chalk announced this week

".......to acquire interests in 12 well bores, including seven additional vertical wells at the Stockdale Field in Wilson County, and three horizontal and two vertical Austin Chalk wells in Wilson and Gonzalez Counties,"

all for 0.60p. A steal - the next few weeks should see us well out of this territory imo

is -2%, lol

Buy for less than you can sell......

late reported sell - 1.2M first thing, explains dip. 0.582p

Now recovering.

it is very obvious that MYN is a huge trader share - just look at twitter - so in typical trading pattern - the expected rise has not yet materialised so what do they do, sell on......chase and make up else where.....that's no doubt their strategy..

The raise this week has gone to a handful of sticky investors, so that's a huge positive.....

An excellent buying opportunity imo - in a few short weeks these prices are going to look bargain basement...adding

sure but then we now see today some dilution -in due course - re shares for management etc Regardless a nice investment.

Nice update from Block, cracking on with it - some serious value lining up there - NB Mayan own 3% : )

Wonder how Schlumberger current drilling going - they must be nearly 50% done by now....

"Multiple gas discoveries have already been made in the Lower Eocence and Upper Cretaceous within the Licence, which lie on trend to the same play currently being targeted by Schlumberger on neighbouring licence, Block XIb"

ADL up 24%

June RNS from ADL

"The Company notes recent social media discussion regarding the potential purchase of an interest in an oil and gas asset in Indonesia, the Bunga Mas PSC (“Bunga Mas”). In accordance with the Company’s previously stated strategy, the Company continues to evaluate a number of oil and gas projects, of which Bunga Mas is one.  However, discussions remain at an early stage and commercial terms are yet to be agreed. There is no guarantee that terms will be agreed in respect of Bunga Mas but, should they be, or indeed should the Company reach agreement in respect of the acquisition of interests in any other projects, it will update investors at the appropriate stage."

As helpful says - something maybe happening.

Observation - I am not in ADL but the shareholders I know there got diluted massively - now if MYN are entitled to participate in ADL Indonesia projects then now might be a good time to receive equity in ADL in exchange - but after any further raise by ADL. Contrast this with this happening 2 years ago - NCT>>MYN would have had to pay for participation and then watch the value injected blown apart by market cap being blasted.

Better for this to happen now (if it does) for Mayan. Interesting - for a Mayan investment i.e. the participation right I thought had long gone.

Good spot Helpful.

Just went back to June 2015 - 5 years

Participation Agreement

The Participation Right has been granted to the Company in return for introductions and assistance provided to CEB and its new management team in connection with its agreement with Corsair. Northcote and CEB have agreed that Northcote shall be entitled to participate in any of CEB's investments, at its sole discretion, in Indonesia for a term of five years from the date of the Agreement. Northcote's participation is up to 12.5% of CEB's participation and NCT must pay its proportional share of all costs and documented prior acquisition costs.

https://polaris.brighterir.com/public/mayan_energy/news/rns/story/drmoynx

We shall

You were wrong. Enough said.

Do your own research, not difficult that one.

"We note within the Mayan Energy #MYN RNS this morn a strong reiteration of 300-500 bopd target - https://www.investegate.co.uk/mayan-energy-limited--myn-/rns/acquisition-and-issue-of-equity/201806250700093219S/ … We would expect this to be achieved in 3Q. At that level we have a REAL business."

Align would have seen the presentation. I would have chosen SERIOUS business rather than real.

Align Research "Ref Mayan Energy #MYN RNS this morn. We can confirm that we have participated in the placing. Holding near 40m shares now."

Then:

Add in Petroteq investment news - production started/atarting very soon

Add in Block Energy news - workovers starting very soon.

High impact news says Eddie. Can see why.

From another poster:

A quick calculation from a group member.
Very quick and rough revenue calculations based on 400bopd at $70 a barrel

$28,000 a day
$196,000 a week
$784,000 a month
$10,220,000 a year

upside - your job is done - you were barking up the wrong tree - but you must be pleased the operator is sorted. That letter letter you posted was to the old operator hence no reply.

Buyers now arriving - usual ridiculous spread from MMs.

A few short weeks and we'll be a cash cow. Many will regret not adding. High impact new ahead near term.

"Importantly following my appointment, Mayan today is a streamlined organisation with low overheads. Together with our growing production base, we are able to deploy the majority of our new capital into the ground to add yet more production and in turn drive Mayan's profitability and future growth. We now have an inventory of wells with which to take the next major step forward in terms of building the scale an oil and gas company requires to be successful over the long term. With work progressing across our asset base, the summer and the fall of 2018 will not be short of high impact news flow."

well the market might have been expecting a sell off - simple not happened - sticky new investors were involved in the raise.