||ORD SHS 0.1P
||EPS - Basic
||Market Cap (m)
|Oil & Gas Producers
Magnolia Pet Share Discussion Threads
Showing 6976 to 6997 of 7000 messages
Plenty of gas in the Marcellus, Utica Permian and Bakken to name but a few basins.|
|PS. it CANT do a placing under .10 it MUST have the shares above .10 for several days in a row in order to be allowed to do a placing.
This is why it recently employed BB pump and dump experts to fraudulently pump the share price in a desperate attempt to pay Ritas wages next month.|
r g fletcher
|does magp have any gas wells? gas shortage in america just been reported|
|Placing due anytime now.|
|Money Monster - I've no idea what chart you're looking at, but with the utmost respect, I'd suggest you look again.
I'm very familiar with this company - I took part in the original floatation of the company and sold out at a decent profit, and have kept a close eye on it. In my humble opinion its totally f#cked. Rita is banging the same drum as always, but I'm afraid the latest ramping is just an attempt to raise more cash to get away another dilutive fundraising from poor private investors.|
|In a nice uptrend(creating higher highs and higher lows).|
|The Oil price is heading for a sharp fall
By David Scott | Monday 20 March 2017
High market prices are currently being supported by OPEC cutbacks, and these higher profits are funding the growth of American drilling. American oil explorers who survived the worst of the 2014-2016 market sell off are dismissive of the 14 percent slide in prices this year from a high of $55.24 to around $48 a barrel. The price would have to drop to the $30s or lower to dent the bottom line of many drillers now working U.S. shale fields, according to Katherine Richard, the CEO of Warwick Energy Investment Group, which own stakes in more than 5,000 oil and natural gas wells.
A number of producers have already locked in future returns with financial contracts that guarantee the price of their oil for most of the rest of the decade. Such resilience poses a big dilemma for countries that agreed to an OPEC-led production cut aimed at tightening supplies to raise prices and relieve their distressed national economies. Oil prices took another hit on Tuesday after Saudi Arabia dropped a bomb shell on fellow members of the Organization of Petroleum Exporting Countries.
The Saudis, heavyweight of the 13-nation cartel, raised its output last month to more than 10 million barrels a day, reversing about a third of the cuts it made the previous month. Though Saudi Arabia is still meeting its commitment even with the increase, other members are way off hitting agreed quotas and the disclosure intensified concern that the group won’t be able to meet the promised cuts to strengthen the market. History shows that OPEC members’ normal cheat and the quota break down.
- See more at: hTTp://www.shareprophets.com/views/27927/the-oil-price-is-heading-for-a-sharp-fall#sthash.I0fLtV56.dpuf|
|Avoid, avoid, avoid.|
|Money Monster - this company is totally shagged - barge pole stuff.|
|This share is currently trading at a discount and has quite a bit of news due with 14 wells being drilled/completed.
Good time to be taking a position.|
|Rehashes of ENS, articles add nothing.|
|Magnolia Petroleum reveals significant rise in oil and gas reserves
07:34 15 Mar 2017
Magnolia's Rita Whittington said: "activity among US onshore operators continues to pick up from 2016’s lows.”
oil well, dollars
Greater reserves mean more borrowing headroom for Magnolia
Magnolia Petroleum PLC (LON:MAGP) has revealed a significant increase in reserves across its US onshore projects as a number of new wells have come online.
The company reports an 112% rise in proved developed producing oil reserves, up to 282,686 barrels, and gas reserves rose more than 300% to 2.3bn cubic feet.
It also gives a valuation of just over US$4mln for the reserves, which the company says gives strong asset backing to current market capitalisation.
The reserves assessment was carried out as part of a six-monthly redetermination of Magnolia’s bank debt, and under the process the company has unlocked further headroom with US$2.21mln up from US$1.89mln.
Rita Whittington, Magnolia chief operating officer, in a statement, said: “At US$4million the value assigned to our PDP reserves alone is almost double our current market capitalisation.
“We are confident the true underlying value of the company is greater still, as this latest report on our leases in Oklahoma and North Dakota did not cover other classes of reserves, most notably in both the proved and probable categories.
“With oil prices seemingly stabilising at the US$50 level and costs across the sector significantly lower than those that were prevalent before the downturn, activity among US onshore operators continues to pick up from 2016’s lows.”
Whittington adds that she expects positive sentiment in the sector to translate into more drilling, and that will support the group’s valuation.
“We are confident that the substantial discount the market is ascribing to our PDP reserves will narrow,” she said.
“In the meantime, the resumption in PDP reserves growth is most welcome and I look forward to providing further updates as we take advantage of the recovery to drill alongside established operators on our leases to prove up our reserves, and in the process generate value for our shareholders.”
|load press :
Magnolia Petroleum lifts PDP reserves and value
Magnolia Petroleum has reported a 112% rise in total net proved developed producing (PDP) oil and condensate reserves to 282.686 Mbbl at Jan. 1, with a value of $4.026m, up from $3.445m.
It also reported a 303% rise in total net PDP gas reserves to 2,343.116 MMCF.
"At $4m the value assigned to our PDP reserves alone is almost double our current market capitalisation," said COO Rita Whittington.
"We are confident the true underlying value of the company is greater still, as this latest report on our leases in Oklahoma and North Dakota did not cover other classes of reserves, most notably in both the proved and probable categories," she added.
Whittington noted that with oil prices seemingly stabilising at the $50 a barrel level and costs across the sector significantly lower than those that were prevalent before the downturn, activity among US onshore operators continued to pick up from 2016's lows.
"We are seeing this for ourselves in the increase in the number of well proposals we are receiving to drill wells on our leases," he added.
"As the improved sentiment translates into more drilling, we are confident that the substantial discount the market is ascribing to our PDP reserves will narrow.
"In the meantime, the resumption in PDP reserves growth is most welcome and I look forward to providing further updates as we take advantage of the recovery to drill alongside established operators on our leases to prove up our reserves, and in the process generate value for our shareholders."|
|closed at 0.12p broken down trend also the biggest daily volume ever.
20,000,000 bought at the close @ 0.131p some one is very confident !!!!|
|massive volume today over 220 million so far|
|yup, another hugely dilutive placing is inevitable|
|Which will happen first, publication of the prelims with exposure of the balance sheet waste land or a placing?
That would be a placing.|
|I won't believe anything until RG Fletchers given us his opinion...He must be busy filling his boots after this mega update, because he's usually the first to comment.|
|Here's the pump, when's the dump (placing)?|
|...interesting, to say the least ;-)|
|Well that is a questions to ask at an agm as in my opiinion it was a lot of money to write off, especially that woger well that fletcher loves so much|