Member Info for smidsy

'Privately owned Western Energy Development LLC is taking a 29% stake in Magnolia in return for putting a pile of business Magnolia’s way' I need to lie down in a darkened room and calm down. lol

Magnolia is the new black, as US-focused onshore operator receives boost from Western Energy Development Investors piled into Magnolia Petroleum PLC (LON:MAGP) this morning as it revealed it had landed a major new shareholder. Privately owned Western Energy Development LLC is taking a 29% stake in Magnolia in return for putting a pile of business Magnolia’s way. The two companies have a capital management agreement, whereby Magnolia will be responsible for acquiring oil and gas assets across 27 Oklahoma counties in return for certain fees and interests. Follow St Brides Partners @StBridesP Magnolia Petroleum gains major new shareholder as part of deal to invest & manage up to US$18.5m under US Immigrant Investor Program #MAGP 8:41 AM - 4 Jul 2017 2 2 Retweets likes Twitter Ads info and privacy “For Western Energy to entrust us with the management of up to US$18.5 million of their clients’ funds, together with their agreement to receive shares in lieu of a cash fee for the deal, represents a major endorsement of the current board and management team,” said Rita Whittington, Magnolia’s chief executive officer. The shares were up 31% in mid-morning trade.

https://www.youtube.com/watch?v=9jK-NcRmVcw Hi maggots as a lot of you may know when I get excited with Maggie (now now boys) I get out my trusty CD of the Pointer Sisters and play at full volume 'I'm excited'. Well Check out my latest choice of CD and think about Rita V SOS LOL

'Directors believe the Agreement with WED will generate significant value for all its shareholders in the near and long-term' For those LTHs still on the crew list of SS Maggie the above statement must be music to the ears. The last thing I expected was a RNS as good as this. I am now looking forward to the next few days with Rita in the red corner and SOS in the blue corner. Let battle commence.

A couple of posters have thrown the towel in already on the Ntog board.

Is busy today.

One or two posters got egg all over their face. :-))

I like this bit... Magnolia CEO, Rita Whittington said, “For Western Energy to entrust us with the management of up to US$18.5 million of their clients’ funds, together with their agreement to receive shares in lieu of a cash fee for the deal, represents a major endorsement of the current Board and management team. It is a real triumph for the Company in the face of significant competition and cements the relationship that started in late 2016. In an extremely challenging oil and gas market, the Board believes this deal will deliver significant near-term growth in Magnolia’s revenues, profits and shareholder value and at the same time raises our profile in key US States and with potential operating partners.

Where does this leave SOS and NTOG

Well, Well, Well. ( please excuse the pun) Brilliant.

aston74, if you are a director of SER and I am very doubtful that you are can you tell us when we will be trading again.?

If your still reading the Board check out Sefton again. A post by one of the new directors has been made.

There may be just a slight chance that we get some of our money back :-)

Take a look at Sefton (SER). From memory I thought that you had a holding at one stage.

Wonders never cease.

What's in it for SOS.? I can't see him giving his holding away without some kind of prize.

Check it out

How many shares are held by the 'keep Rita' lot as opposed by the 'vote in SOS' mob.and is it feasible that Rita's lot could have the majority shares.?

11 million traded on NEX. Were they buys or Sells as they all were pretty close to the mid point.

SOS get his message across to us? He won't be able to use a Magp RNS and I doubt whether he is allowed to use a NTOG RNS so what is left for him unless NTOG has plans to buy more MAGP shares? Anyone with any ideas?