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Hi Jr you are wrong my friend, I once got a reply direct from Rita when we were mentioned in the a national paper, being the class pet at that time I pointed it out to her in an e mail and she wrote back thanking me for the. Information and attention and of course my interest in Maggi as a shareholder. I have since framed it along with her pink hat debut picture in the Sunday Mail where it now enhances my bedroom wall.
Thanks for your efforts here Stisbury and for sharing the reply from a Rita with us, I am still very much in here as an LTH however like the rest of you guys disappointed thus far but staying invested for the end game, I have less time for researching these days so have got slightly rusty but look in daily GLA.
Well tell me about it Mr E having a similar situation myself all the jobsworths need made redundant and the savings put back into local services like it used to be, we spend half our lives dealing with red tape.
Ooooooo Lol look at you two with your spelling etiquette
Afternoon all, silent whispers must be pushing us up because trades are uninspiring. Stisbury have a look at investopedia for more information on the differed shares issue, it will probably leave you as confused as ever but looks to be beneficial. I checked up on the Gilchrist well but no further news there am afraid just hope things are moving along, we could use an update.
Lots of projects still under development the focus was was bound to wane slightly, when developments become operational income and value will be seen, a good time to buy more on the dip and wait IMHO
Great to see you guys, good finds Brookie, I have to admit not researching as much as I used to do due to time available. Rita's war cry was that the value of our oil reserves had never been reflected in the SP hopefully she is now monetising some of that value and some of the proved up acreage selectively will give up some of that value and enhance the now consolidated shares. No harm in selling off value added assets for profit let's hope that is the ulterior motive, as my previous post selling Sympsons was premature and more could have been made IMHO but a profit is a profit and the BOD are running the Company. I have also set out the links with WED and Giant and MAGP non are wet behind the ears beginners so we can only hope it is all in shareholders best interest, the aim was to sell the company maybe that goal is changing. IMHO DYOR GLA
Evening all Just to rub some salt into our wounds today the long awaited magnificent 10 which became 12 Sympson wells by Continental recorded a record production of 41,701 BOED for Oklahoma, remember we sold our interest in these wells at a premium of 61k prior to production in July having acquired them in 2015 they became DUCS for a time during the low POO period now completed the production would have been worth more than we thought at a massive 219 BOED circa $12000 per day at $55per boe to Magnolia production ;((( in essence if we had retained our interest our profit pre production of 61k would have been recouped in 5 days. IMHO DYOR "Continental recently completed its third 10-well pattern density project in the SCOOP Woodford condensate window, setting an Oklahoma record for an initial rate reported from a drilling spacing unit. The Sympson unit flowed at a combined peak 24-hour rate of 4,652 Bo and 222.3 MMcf per day (41,701 Boe per day). The Sympson unit is a two-mile long, dual-zone, 10-well pattern unit that includes a total of 14 wells. Two one-mile parent wells and 12 children wells of various lengths were required to fill in the 10-well 1,280-acre unit pattern. This resulted in the equivalent of 5 wells in the Upper Woodford and 5 wells in the Lower Woodford. The 12 new wells produced at an average 24-hour peak production rate of 3,145 Boe per day (11% oil), and on average the wells are performing in line with the 2.3 MMBoe type curve. Lateral lengths ranged from 3,050 to 10,270 feet. "
Morning Smidsy glad you had a nice time, I think the north has faired better than the west weather wise, we have been very wet of late. Rita is busy, my own theory is that WED investment money is replacing the need for oil revenue which has reduced considerably over the last years due to the POO on the plus side we are being paid to manage the investment ofthis fund and obtain some free carry investment in wells in the process. It look to me like we are back to low NRI low risk participations however it was always reserves and proving them up that was the name of the game for MAGP the production was for reinvesting in drilling therefore not so important now at low price. IMHO DYOR GLA
Likewise dogger but we know what they say about patience and impatience with regard to stocks and being rewarded lol
Hi dogger the Gilchrist well was mentioned in the Q2 update waiting on spud with a miniscule interest of .003094482 actual spud date was july 9th in Major County Sec: 31 TWP: 20N RGE: 15W, others on the same section include Woodring and Penelope wells. didn't think it was to exciting at the time but maybe there is not a lot to report on at the moment. Gilchrist 2016 1-36H Mississippi, Oklahoma w/o spud 0.003094482 Sandridge
It better not be poacher that would really pi@@ me off .
It better not be poacher that would really pi@@ me off .
What makes you say that the consolidation or other reasons?
Some chunky buys now coming not all it seems unfortunately but western own a large part of MAGP now stis so its in their interest to make it happen ... Not selling now mate.
Yes another 10% wiped off the SP a very poor show indeed yet I can't imagine the clever guys at WED and Giant Capital have gone in here without due diligence being done beforehand.
Yes GD I noticed that but I reckon their marketing year starts around now and works through to summer and then investment starts just guessing though only noticed that their team were doing presentations around this time.
Recent leasing activity 23 Oct shows 2 assignments and a bill of sale in McClain, Lincoln and Logan respectively and a further note of interest in Stephens sections 6 and 7 which I believe to be the Sympson acreage. Meet Greg Neher Western Energy Regional Centre.(and co founder of Giant Capital with Thomas Wagenhofer) http://wercregionalcenter.com/expertise/team/neher https://www.facebook.com/westernenergyregionalcenter/?hc_ref=ARSRFlUyGOEnDaWthbr-tqxa6UBtGq4yg_T6nuzbci2c97dLzR1Yl_IREJ4zfD1fjeE&fref=nf The pieces of the jigsaw are all there just need to make it work the EB-5 green card program has been EXTENDED at the $500K price point until September 30th 2017 so investments should be under in and management. IMHO DYOR GLA
Evening all, Proactive investors historical view from 9th Oct and I think the feeling is unanimous lets hope the message reaches broken arrow ;)) http://www.proactiveinvestors.co.uk/columns/sp-angel/28767/today-s-market-view-jersey-oil-and-gas-plc-magnolia-petroleum-plc-urals-energy-union-jack-oil-plc-28767.html � Magnolia Petroleum (LON:MAGP � 0.08p) � Not the Focus: Today�s news is a little surprising in that with all that is going on, that the Company should undertake a costly and time consulting process to consolidate the shares to �alter the perception of the Company.� It should be suggested to management that if they want a better perception and a higher share price, that they should deliver value to shareholders, the numerator, not alter the denominator. The focus should be completing the transaction with Western Energy Development (�WED�), and getting the $18.5mm (�Investment Pool�) in to the Company and working. We suggest that the Company and WED should be clear about what proportion of this raise of the Investment Pool has been raised, if less that the full $18.5mm, how much of it remains to be raised, and more importantly, when the Company can start to leverage off of the Investment Pool and start to generate value for shareholders. DYOR