Member Info for orslega

Upside - we all know there has been operator issues - so production must have been limited, yes?

Those issues that stifled production appears now to have been resolved. No doubt we will hear officially soon.

But I will be adding more at these level - the share price should quickly turn around.

As has been stated before they have had Operator issues - looks like this has now been resolved - but as Eddie has admitted this has taken a lot longer that they expected.

Shareholders will be pleased to hear that they have the cash and planned cashflow to kick start work on the new wells without the need for further fund. Interesting that the ordinal targets for 2018 are still in tact - who knows with the new wells 500 bopd could be achieved.

So they can now crack on. Catch up time.

Expecting an update with more detail anytime now.

As long as the production kicks in soon - which should be the case - that will take the pressure off cash. So I expect Eddie will hold Petroteq.

I have bought Petroteq directly - as soon as they announce the sustained first target of 1,000 bopd it will fly imo. There are some aggressive targets for Petroteq share price, relative near term - 3-5 time todays price . If the concept is successfully proved then Mayan will make a lot of money from our investment. Fingers crossed.

Mayan now have an equity interest in Petroteq - so Mayan shares are held by Deloro - Deloro hold the Petroteq shares. Previously the deal was that Mayan/Deloro would receive a share in production. Mayan share based on Petroteq doing 1,000 bopd was 80 bopd.

But now we have to watch the share price in Petroteq.

The intention soon is to wind up Deloro and distribute Petroteq shares it owns - so Mayan will then own a direct equity investment in Petroteq and will be free to do with as they see fit.

Hope that helps.

We are all know there was a problem with an operator - hopefully that is now sorted. Then we have this:

Highlights

Delivering on strategy to build a portfolio of highly cash generative, U.S. onshore oil and gas assets with multiple development opportunities complemented by key investments in high potential oil and gas projects

2017 represents a year of transition for Mayan following management changes, a review of the legacy asset base which resulted in decisions to pursue, monetise or dispose of certain assets and the acquisition of interests in Texan oil & gas fields along with other complementary assets.

Acquired a 60% working interest ("WI") with a 45% net revenue interest ("NRI") in the 105.7 gross acre Stockdale Oil Field lease, located in Wilson County, Texas and a 75% WI and a 52.5% NRI in two leases at Forest Hill, Wood County, Texas:

Restored production at wells across each field through the implementation of a low cost, low risk workover and well stimulation programme

A combined total of 272 gross/137 net barrels of oil per day from five wells on Stockdale and Forest Hill was reported post period end

Gas discovery at Stockdale Morris 1 well provides significant upside production potential at Stockdale field

Post period end acquired interests in 12 additional well bores including seven vertical wells at Stockdale and three horizontal and two vertical Austin Chalk wells, Texas - further increases pipeline of development opportunities

Regained 100% working interest of Zink Ranch field in Osage County, Oklahoma where preparations are underway for a five well workover programme, targeting 80-100 net barrels of oil per day in the mid-term.

Invested US$1,505,000 into Deloro Energy LLC ("Deloro") to gain exposure to the Asphalt Ridge Heavy Oil Project in Utah that is being developed by TSX listed Petroteq Energy

Mayan has a 17.1% interest in Deloro which holds an approximate 8.2% equity interest (15.1% diluted) in Petroteq through its holding of 6,000,000 Shares and 6,000,000 WarrantsÂ

Acquired a 3.29% interest in Georgian focused Block Energy, which was admitted to AIM post period end ahead of commencement of development of portfolio of oil and gas licences in the Republic of Georgia

Significantly strengthened balance sheet following 33% reduction in group debt as a result of cash settlements at a discount, or settlements in equity and the divestment of non-core assets

Eddie Gonzalez, CEO, said, "This has been a highly active year for Mayan as we firstly worked to streamline and rationalise our legacy assets and cost base before refocusing our portfolio towards de-risked US onshore opportunities that are easily accessible, economically viable and which importantly provide significant scope to scale up production. In line with this, the year under review has seen us firstly acquire wells on the Forest Hill and Stockdale Fields, before embarking on a programme targeting a rapid increase in production

well at least our investment is Block Energy is on the move : )

Things can change very quickly on AIM shares - but I agree it should not have fallen this far.

The last placees who recently invested £850K at 0.60 will know what's coming imo - bet they are pretty relaxed.

Best to turn the screen off for a while. Our time will come - as will hundreds on new punters here, let's see.

this is what happens on AIM - and in particular during the school holidays....no one around apart from MMs playing around as per usual.

Expecting Eddie to surprise us soon, unless he's on holiday, lol

Bargain buy 1.2M at 0.48p.

MYN own 3%+

Paul Haywood, CEO, has been out in #Georgia this week and attended technical meetings with the Georgian state #BLOE #AIM #oilandgas

https://twitter.com/BlockEnergyplc

"Mayan has entered into a revised Sale & Purchase Agreement to extend the due diligence and completion period until 22 August 2018. This is to ensure clear title can be passed across with all necessary permits and approvals in place to enable immediate work-overs and production to commence from the target well packages. The Company will update investors once these conditions have been satisfied."

22/8/2018 is the long stop date - it is not necessarily when dd gets completed. Expecting earlier.

usual MMs shenanigans - it will never end..FCA are not interested...

top up time and sit tight. No brainer - easy money.

interesting that advisors/contractors have accepted shares at 0.6p and a 3 month lock in - as the RNS that is a 13% premium to current sp.

Must be very confident to take the shares.

Mayan (AIM: MYN), the AIM listed oil and gas company, announces that, further to its announcement on 25 June 2018, it has signed an amended Sale and Purchase Agreement with Smart Bit LLC ("Smart Bit"), to extend the time for completion of the due diligence and completion of the outstanding conditions until 22 August 2018. The Company has also issued 18,437,951 ordinary shares to various advisors for services ("Settlement Shares").

Sale and Purchase Agreement Amendment ('SPA')

On 25 June 2018 Mayan announced a conditional Sale and Purchase Agreement with Smart Bit 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, Texas (the "Acquisition") for a total consideration of US$605,000 (the "Consideration"). As announced at that time, completion is conditional on the satisfactory completion of full due diligence, agreed form of assignment of wells, and Mayan and the Vendor entering into a Joint Operating Agreement ("JOA").

Mayan has entered into a revised Sale & Purchase Agreement to extend the due diligence and completion period until 22 August 2018. This is to ensure clear title can be passed across with all necessary permits and approvals in place to enable immediate work-overs and production to commence from the target well packages. The Company will update investors once these conditions have been satisfied.

Issue of Equity to Advisors

The Company has also issued 18,437,951 Ordinary shares to various advisors to settle amounts owed and for contracted services over the next 12 months (the "Settlement Shares") at a fixed price of 0.6p (the "Settlement Price"). All shares issued will be subject to a 3- month lock-in and 3- month orderly market and the Settlement Price of 0.6p per share is the same price at which the Company undertook its last placing and represents a premium of approximately 13% to the closing mid-market price on 25 July 2018.

Almost certainly that investor took place in the last placing - that's why there was no evidence of stake building. He would have been privy to information before committing such a large investment. Bodes well.

"In addition, the Company also announces that it has raised £850,000 gross via a Placing with a limited number of high net worth investors"

Just have to sit this dull period out but when various news drops - on number of fronts - I am expecting some explosive share price action here. I think it was Helpful who knows this company inside saying out that come September Mayan could have up to 20+ wells producing. Cash will not be an issue then.

25/6/2018 RNS

"With the potential addition of these 12 new wells plus ongoing work programmes at Forest Hill and now at Zink Ranch we are well positioned to push daily production towards our target range of 300 to 500 net bopd. Our technical team has successfully demonstrated the capability to achieve excellent results by exploiting existing well bores using cutting-edge and proprietary tools and techniques. Thanks to today's agreement, our team now has many more opportunities to replicate this success. I expect Stockdale and the nearby Gonzalez County wells to form the backbone of our production, augmented by important contributions from Forest Hill and Zink Ranch."

but a seller has appeared......hey ho, one day....

confident or what.......

Utah land grab - this technology clearly works, or why bother. News must be soon on 1,000 bopd

https://ir.petroteq.energy/press-releases/detail/280

I'll say very likely and go for a Mexico deal - when he first arrived at Mayan he told shareholders will see a couple of Mexico deals - when time was right. Mayan gets stronger by the day, a company changing deal would be great news. Gas related I wonder? (Where Eddie has proved himself in Mexico before).

There are many different ways you can value Mayan - but one thing I am certain about the current valuation afforded right now is plain stupid. MMS have screwed it big time. Fundamentals - fully funded - 20+ wells producing in the next 6-8 weeks. Forrest Hill, Stockdale - Zink Ranch. Block Energy workovers. Petroteq - 1,000 bopd ++ Then what will Mayan be trading at? Eddie thought he got a bargain at 0.86p - add in above - let’s see. IMO it will be well over 1p - for starters. MMs will have no choice then to let it go - punters will be scrambling. Good luck to all patient longs. Our time is arriving.