Member Info for orslega

they would if they understood what PQE were saying, lol

Yes I do.

TMC is an indirect but wholly owned subsidiary of PQE. TMC has done deal last week with an unnamed seller:

"The Note, and assumption of certain obligations and liabilities, was issued by TMC on January 29, 2019 in consideration for the acquisition by TMC of the Seller’s mining operations related to bituminous sands/oil sands leases in Uintah County, Utah."

So within one week of making the acquisition the Loan note has been cancelled and converted into PQE shares. We do not know who owned mining operations that has been acquired - but but bottom line is that they have acquired assets in Utah - sounds like land - they have hinted enough times that they were looking to do this.

And yes - they could make it a lot clearer in their RNS - assuming our interpretation is correct!

Looks like group balance sheets being tidied up - a vey opportune time given current share price. Before a significant share price rise.

https://ir.petroteq.energy/press-releases/detail/304

Like many and much larger investors I expect to make money here. Also expecting a full update any day which will hopefully burn the latest round of shorts badly - so yes, very good opportunity now to buy imo

Looks like news will be very soon:

https://scr.zacks.com/News/Press-Releases/Press-Release-Details/2019/PQEFF-Zacks-Initiates-Coverage-of-Petroteq-Energy/default.aspx

Petroteq appears to be entering the emerging growth phase of its corporate history with an increasing revenue stream expected to be generated from the recently constructed 1,000 bpd processing facility at Asphalt Ridge. Due the character of the company s enterprise, namely a small-capitalization company with a fast-growing revenue profile, we expect Petroteq to attain at least an average industry P/S ratio of the comparable oil recovery companies listed above by 2022 when the company is expected to achieve steady production at a rate of at least 8,000 bpd. Utilizing projected annual revenues of $109 million in 2022 with the expectation that Petroteq s stock will trade at a P/S ratio of 1.9 at that time, the share price target would be $1.80 in 2022. However, to translate that value to a current target price, we employ a net present value (NPV) calculation that utilizes a 10% discount rate. Therefore, our comparable analysis valuation target of Petroteq for 2019 is $1.35.

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That would recover the cost of the investment - then rapid growth from there.

They have raised around US $14M in last several months - presumably not all for dealing with OPEX while they get production ramped up - more likely with sums like that extra land grab and plant enhancement production capability. Certainly there seems to no shortage of investor who inevitably be better informed.

We are well overdue an update - let's hope it's been worth waiting for. We need 1,000 bopd sustainable to get this back on track.

my understanding is that the new fund raise has mostly gone to those long timers who believe the assets are ridicously undervalued....finger crossed.

In February 2019, Attis will mobilise equipment and personnel to the Austin Field in order to begin to test fluid flow and origin, service and/or replace downhole equipment, service topside equipment, and, revitalise production at the Montsanko #1 and Morris #1 wells.

The newly acquired Montsanko #1 well is understood to be a high fluid volume production well. Our plan is to conduct a production test, analyse the oil/water entry ratio and replace the existing electric pump with a pump-jack. Its our belief that this should increase production efficiency whilst still allowing the integration of existing infrastructure.

We plan to conduct testing and rework on the Morris #1 well, including integrity testing and likely replacing the downhole pump. The Morris #1 well has production separation units and fluid storage tanks available.

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....probably less important now, any negotiated settlement for Forest Hill - hopefully Mayan can recover some of its ill advised costs of this investment.

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And lastly Petroteq (Zinc Ranch operations being later in H1 per RNS) - the valuation comment in the RNS suggests PQE news must be due soon - well they are way behind on 1,000 bopd target so confirmation of that expected to kick start their recovery. Plus quite sizeable shorts have been closed this last week - there is always someone one step ahead.

https://oilprice.com/Energy/Energy-General/Oil-Rises-18-In-Best-January-On-Record.html

So per the update we now have 100% interest (at no extra cost)

Does that also mean they plan to extract that valuable gas discovery which was announced in June last year - they appeared to have that plan quite advanced then? In time for the next spike on NG prices:

https://www.marketwatch.com/investing/future/ngh19

RNS June 2018

"Following evaluation by Mayan's technical team and consultation with local vendors, the Company has determined that on-site generation of electricity using gas volumes from the Escondido Sand formation is the most efficient and cost-effective course of action, requiring minimal additional capital expenditure

Initial production rate from this gas resource is anticipated to be significant and the Company believes that a sustainable rate of approximately 1.3 million cubic feet per day gas and 10-11 barrels of condensate per day is achievable with potential for further upside

A total of 20' of net pay estimated to contain 3 billion cubic feet of natural gas is considered to be recoverable (see announcement dated 26 April 2018)

Mayan is currently engaged in discussions with several municipal purchasers regarding a long-term contract including addition gas anticipated to be unlocked at the Stockdale Field as a result of the Company's planned development plans

The Company expects to realise pricing that will yield a premium to the spot price of the natural gas used to generate electricity if it were sold to a gas gathering / marketing company as is common practice in the United States

The production of this gas from the Morris #1 well will not generate any meaningful additional operating cost so this is exercise is expected to be highly economic

Necessary preparatory work needed to commence the generation of electricity from the natural gas discovery set to commence shortly; the Company shall update the market following commencement of production and any further material updates"

the presentation is where they said it is - put some tome aside - worth a read - there are some interesting details to support the RNS.

http://mayanenergy.co.uk/wp-content/uploads/Mayan-presentation-Q1-2019-final-1.pdf

worth a read - there are some interesting details about the 3 new US operating teams.

Directors now own 6.34%

More like it.

30 January 2019

Mayan Energy Ltd ('Mayan' or 'the Company')

Updated Corporate Presentation

Mayan Energy Ltd (AIM: MYN), the AIM listed oil and gas company, is pleased to announce that an updated version of its corporate presentation is now available on the Company's website at http://mayanenergy.co.uk/media/presentations/.

re change in management - the critical point is that there are now US O&G professionals running this company - much better chance of success imo

Well to get a placing away at this juncture means those investors must be convinced by the review and actions. Directors also investing is obviously good news.

All Mayan employees have been dismissed and all work is being contracted out - to US O&G professionals - huge plus.

EGTP

There has been no sale of Petroteq - that was my point - expecting some good news there soon and turn around. Potentially very valuable to MYN.

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

Petroteq investment intact - imo that is important

Much to take in! Must be one of the longest RNS ever....

He made it very clear he was pursuing the directors/likely to be issuing legal proceedings etc So his brief won't want any bulletin activity from him; imo

Not really helping - still raising money I see.

see up 16% on Friday - plenty of catch up needed there aswell - think there was a company PR slip - that they expect to announce 1,000 bopd by end of January; that has also been a long time coming. maybe they will be doing more now that oil price firming. Soon know.