Member Info for orslega

don't forget we also have 1M options aswell - obviously underwater as we speak - but that could change very quickly.

"Mayan currently holds 1,035,233 shares in Petroteq Energy Inc. with an associated 1,035,233 3-year warrants at USD $0.90."

Petroteq is (I believe) close to getting its Nasdaq listing sorted. The average increase in sp for companies moving to Nasdaq is circa 2.5 times; that will help, for starters.

....when commercial production is announced, and a couple of partner deals - more than the current market cap of MYN. For starters.

Just my view. (well I know a few others who are more bullish).

investment:

US$1M v £17K:

go figure

Indeed.

Bargain basement prices soon gone. Shorts are closing. News imminent?

If the Chairman invests $1M at 0.45 there's the clue.

The Company is pleased to announce the subscription by Alex Blyumkin, the Executive Chairman and a director of the Company, for 2,222,222 common shares of the Company at US$0.45 per share for gross proceeds of US$1,000,000.

https://ir.petroteq.energy/press-releases/detail/310/petroteq-energy-announces-investment-by-chairman

PQE Partner

Talking or which, QEM comment this week:

"Petroteq’s proprietary technology was reportedly able to extract hydrocarbons from QEM’s Julia Creek Project. The company commenced Stage 2 optimisation testing in March 2019 quarter to determine the final yield of the hydrocarbon products and full results of the testing are eagerly anticipated in Q2, 2019."

https://kalkinemedia.com/news/qem-limited-kicks-off-2d-seismic-survey-at-its-flagship-julia-creek-project/

Benefit of hindsight and all that, of course but at some point you will stop bashing CW - why, well because regardless of your personal vendetta and attempt to have him removed you might - but unlikely - acknowledge - that he has overseen the turn around of fortunes here. I have always said my preferred option was to do whatever was necessary to keep disruption to a minimum - get production going as quickly as possible but in a well thought out plan which can be sustained. It has taken a good deal longer than shareholders expected but all seems to be going well. The share price indicates the market are not certain but let's see.

It was very noticeable that those out to get CW were noticeably absent when the last update stated they were now breaking even. You came late to the party here but in case you weren't aware this is the first sustained production of any oil and first real revenue. Currently $200,000 per month and rising, not insignificant, why did this happen? It happened because Thom Board and his outfit Attis were selected to change Mayans fortunes. In CW defence I guess that he had nothing to do with it?

Anyway we are where we are and imo we are in a much better position than many thought. CW position has been made clear - his tenure of interim CEO may or may not continue, but likely not imo as the business redefines, after all he is not a US oil man.

And for what it's worth Petroteq imo should be great investment for Mayan, returning considerably more than the cost. It is a shame they are not currently in a position to take advantage of a crazily low share price - I have been adding here as I believe Petroteq could become one of the best investments around. By a long mile. Let's see.

Honest answers.

On the move at long last :)

pqe could do with getting a decent operational update out to stop the rot. Overdue by their own timeline.

Plus Nasdaq listing update

Chinese investors (better not let them in too cheap)

almost on daily basis the PQE PR machine produces :

https://www.facebook.com/Petroteqenergy/videos/417032069131485/

Ben - do the Chinese like what they see?

anybody who has researched know we obviously stand at a loss - but that is the same for all PQE shareholders, not just Mayan.

I am expecting a material turn around and soon - that's why I have been adding. Let's see.

Disagree - imo Petroteq will make some very serious money for Mayan shareholders. It is a major investment with a holding of over 1M shares and 1M options. Watch and see.

Hope so I've also added at these lows.

You still inside?

Sounds news is imminent- not before time and PQE management for sure know that- can't think of one timeline target they've succeeded in achieving. Been issues but need to break that habit.

I see PQE management posting almost daily on twitter this past week - hopefully for very good reasons.

Well said Helpful.

My sentiment entirely.

Shark invested AIM waters are very dangerous - Mayan has been a major target.

Calmer waters now.

15/4 RNS - not sure but Attis have been onsite ZR for nearly a month now - plus they will know results of topside field production- so news on ZR next week would be reasonable.

· The Attis team have been in the field over the past week assessing the near-term requirements for optimisation.

· Initial topside field production enhancement techniques will be applied during April.

ZR - RNS 15/4 - news also due soon re sub-surface studies.

Charlie Wood, CEO of Mayan, said, "We are pleased to report that we are already delivering close to breakeven production from the Austin Field and expect the numbers to improve going forward. Importantly, through this initial field development programme we have established a strong working relationship with our operator, Attis, who has shown a disciplined cost- controlled approach in delivering production resulting in an excellent return on capital deployed. We will continue to monitor performance and proactively implement further enhancements. We are applying the same methodical approach at Zink Ranch as we take control of operations and make further assessment of the development opportunities across our acreage. As part of this plan, the Company has begun sub surface geological studies at Zink Ranch with a view to further development and establishment of reserves and additional exploration opportunities will be evaluated at the Austin Field in the near future."

Petroteq just posted this on their twitter account - be good if they could update the market on their current production and sales.

https://finance.yahoo.com/news/u-sanctions-iran-venezuela-set-crunch-heavier-oil-230643462--finance.html?guccounter=1&guce_referrer=aHR0cHM6Ly90LmNvL3BnZlVFWjF6TUs&guce_referrer_sig=AQAAAGK-Y5UGM0kNOGGYp-of-OFM4crq6PXnhQj5CpTxD2prC8i-pcnZ9-7uEi60G5mzqwe7qWOuYp84kBMvgEUIecCQ4AVOcgZHIPQGtKWV-WFPWjeAB8fC_is63Gyb8MMZAdnOEljA6f3ZGeKB6GMAR2ssimlnhEeVgxYMgUBiJc0G

pretty much all sitting on hands, probably awaiting next operational update, plenty going on.

"During the first quarter of 2019 Attis generated turnover of approximately US$299,000 and US$46,000 in free cashflow."

Free cashflow suggests profit - but those accounts have not been prepared. Clearly they were satisfied with their due diligence to proceed.

Incidentally if they weren't satisfied with dd on the company this deal would have been structured differently ie they would have purchase assets, contracts etc, not the company and its subsidiaries.

"Mayan Energy Ltd (London AIM: MYN) is pleased to announce that it has entered into a conditional share purchase agreement to acquire 100% of Attis Oil & Gas Limited and its subsidiaries, affiliates and related entities"

you are reading it correct:

"For the year ended 31 December 2018, being the latest period available, Attis made a loss before tax of US$35,153 on turnover of US$53,405 and had net assets of $195,000. During the first quarter of 2019 Attis generated turnover of approximately US$299,000 and US$46,000 in free cashflow."

In the RNS it also says they are receiving $34K per month additional income - that now also accrues to Mayan

"As operator of the Fort Worth Field asset, Attis generates approximately US$34,000 per calendar month in additional operating revenue"

We are also now saving $20,000 per month in contractor fees

"Economies of scale savings generated across the new entities with initial combined company cost savings of c. US$20,000 per month due to elimination of third party operator charges for Mayan's Zink Ranch and Austin fields"

Looking forward to hearing our new COO updating shareholders on various fronts.

you have to ask why would they spend another $13M this month on 4,000 acre proven oil sands resource in Utah - if their plant is a doomed for commercial failure. Not difficult really to see they are confident.

The cost of this acreage (and previous purchase) will look very cheap once they demonstrate 1,000 + bopd (ramping up to 4,000 bopd scheduled for this year). Re-valuation in the ground of these cheap resources will be booked to the balance sheet and will show massive increase in value. Clever (and obvious) move imo.

https://ir.petroteq.energy/press-releases/detail/315/petroteq-energy-announces-proposed-resource-acquisition