Share Name Share Symbol Market Type Share ISIN Share Description
Magnolia Pet LSE:MAGP London Ordinary Share GB00B63QSF76 ORD SHS 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 4.44p 4.08p 4.80p 4.44p 4.44p 4.44p 0 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.0 -1.3 -0.1 - 1.55

Magnolia Pet Share Discussion Threads

Showing 7101 to 7121 of 7125 messages
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I look at the reaction of the share price today, to the RNS that the Gilchrist well has "exceeded expectations" producing 770 BOEPD which is 200 more than the company projected, with dismay. The share price increased by 25% on the ask and the spread widened to 20%. The timing is just a couple of days on following the unexceptional announcements of a $300k placing @3.5p and the management of the first WED investment under a previously announced agreement. So what have they just announced? It boils down to their 25% of the combined 1.57% interest with WED, increasing by less than 1 BOEPD to just over 3 BOEPD if I'm not mistaken.
The anticipated placing has now happened @3.5p a share on 8.571m new shares or 25% of the enlarged issued share capital. Unsurprisingly, it came just a couple of days after the company's announcement that the first $500k had arrived from WED for Magnolia to manage well ops on their behalf in return for a fee and a wafer-thin slice of the already thin slice of whatever WED's working interest may be. It seems it's raised $300k to support drilling on additional wells. Well, good luck with all that - it'll be needed given the state of the reported balance sheet at the interims.
Rita secures her wages for the next three months. I feel sorry for the suckers who buy anything from Cornhill.
lord gnome
Yet another placing today @ 3.5p. Glad I don't hold!
The interim accounts were illuminating, not least the Outlook Note: "Future well investment is likely to be funded from new funds received as part of the WED contract, by further portfolio rationalisation and by raising funds in the future." No mention there that any cashflow from existing well production would be put into new wells and one can only speculate that it's being spent covering lower overheads. My own view is that well investment has been constrained due to a continued strain on liquidity which in turn has restricted the company's funding options; hence the company has had to look to other funding streams such as WED and give them a 29% equity stake for the purpose, diluting the share price even further. Looking at the options: 1. Disposals of certain existing well interests (if that is what portfolio rationalisation means) might generate short-term cash but re-investment in new drilling opportunities has longer-term cashflow implications - eg. capex and drilling.There again, they may have patient drilling partners. 2. New funds as part of the WED contract - that's entirely out of the hands of the company's management. What hasn't been disclosed is the timeframe when the minimum $10m is to be 'committed' by WED. The WED contract in gross numbers appears attractive but whether it will get the company over its liquidity hurdle in the short to medium term, only time will tell. The company says: "this arrangement has the potential to create value for Magnolia because using US$500,000 of WED’s funds we conducted a pilot investment programme which generated a rate of return of 100%; a return on investment of 3.26 times; US$75,500 in value to date for Magnolia (lease bonus plus a carried interest for 25% in the first well, within each spacing unit); and US$127,982 uplift in the PV9 value of Magnolia’s reserves. Extrapolate the above based on the minimum US$10 million WED has committed under the agreement and the value on offer is there for all to see." The return of $75.5k is in 'value' but value is not the same thing as actual cashflow. They get an acquisition fee of $500 per acre secured; a 1% maintenance fee of the value of WED capital deployed ($5k for every £500k deployed) and a 25% carried working interest in the first well of a spacing and a portion of the net revenue on a sliding scale. Of the carried interest in the last well update (Gilchrist) WED and Magnolia's combined interest was reported by the company to be 1.57% and the company's share is 25% of that i.e. 0.3925% or less than half of one percent and quiet minuscule - albeit at no cost to the company. 3. Any new placing would need to see a significant turn-around in the share price first if the company wants to avoid further dilutive effects. It will be interesting to see how this strategy develops in the near term and the annual accounts should make for interesting reading if there are no significant announcements in the meantime. All in all, this seems to me to be a very risky and speculative investment.
On the plus side, Rita and her family are still drawing huge sums from the coffers as payment for destroying the company.This is genuinely a disgrace, but in the world of AIM there's nobody who can stop it. Only thing to do is sell your shares and put it behind you.
The market has given its verdict on the potential of this company and the ability of its management, with the asking price of a share drifting down to 4.75p. It's now lost about 50% of its market value since the October 'Capital Reorganisation' and General Meeting.
Down 50% in 2 months. Only another 50% to go.
£1.3m market cap or what?
took a big punt...silly price now
Given that WED has a 29% stake in the equity of MAGP with further funds to invest, and the remaining shares are scattered via Nominees, time will tell whether WED takes up a future placing which leads to its control.
MAGP shareholders have approved a share consolidation of 100:1 citing as the main reason that new capital can't be raised as the share price was at or below the nominal value of the share. It follows that a fundraising can be expected in the near future and quite a necessary one, given the state of liquidity according to the balance sheet at half year (Trade and Other Creditors (£1.6m) were reported at almost x4 times trade debtors and the bank borrowings at £2.6m was only marginally offset by cash of £300k. Retained losses are £14m have been supported, as ever, by shareholders (Share Premium £15m) and for all that, the company can only report £4m in non-cash assets. Given that the founders stated objective was to "create substantial value for shareholders through the acquisition and subsequent development of leases etc", and the company has been trading for eight years, I have to say that, in my view, they failed pretty miserably as shareholders have seen a c90% decline in the share price from its peak and that now produces a current market value is less than £2m. Whilst I appreciate that the business has been shaken by the decline in the market price of crude oil, there wasn't much by way of assets to support the extended period of the WTI decline at the outset and since the decline is likely to remain for a longer period of time than hoped, I don't see this company's prospects improving anytime soon. For the record, I was a MAGP shareholder some years ago and keep an interest in its battles.
HNR - TWO wells successfully drilled with abundant oil and gas in samples extracted! Fracking and FIRST OIL next month! Don't miss this train!
SHOWS UP 6000% pre open...has there been a share consolidation?
I've no idea why I created this thread !
chinese investor
SHUT UP papillon28 Jul '17 - 11:23 - 1672 of 1672 1 0 (Filtered)
douglas macarthur
papillon...still sore re oxus..should have known better
0.15p is fair value on recent story. New strategy to expand the company with WED and access to funds. Clear strategy to divest non-core assets to support beyond the 25% free carry on first well and reduce debt burden so that new longer term bank facility can be agreed. Decent chance of strong turnaround here and worthy of hefty punt money. 0.27p 3-month target for me.
Wouldn't get too excited just yet. The share price closed well off it's 0.135p intraday high on Friday as the 200 day EMA acted as closing price resistance. MAGP log chart. free stock charts from
falia 21 Jul '17 - 14:34 - 1658 of 1666 0 0 0.3-0.5 NEXT WEEK >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Ramper alert!! falia and temmujin? Both FILTERED!
Chat Pages: 285  284  283  282  281  280  279  278  277  276  275  274  Older
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