Magnolia Pet Share Discussion Threads

[tomboyb] 06/6/2018 14:12

Fletcher agreed -

Looks like the end -

[tomboyb] 06/6/2018 14:11

There is your correction -

Now read the RNS -

[tomboyb] 06/6/2018 14:08

Right -

1million available at 0.38p -

What is confusing is that the RNS indicates a temporary suspension -

Initially one thinks of the shares -

But the market has not suspended them - YET

[tomboyb] 06/6/2018 14:05

I've read it -

Now are they talking banking suspension not share suspension -

I can buy quite a few at 0.37p - (Not that i intend to)

BUT it looks like they will asset strip to pay off creditors

Best case - cash shell

Worst case bust -

[ettienne1951] 06/6/2018 14:02

tomboyd

Read the flaming RNS!

[tomboyb] 06/6/2018 13:55

Fletcher -

Not suspended yet -

I can get a quote to buy online -

[r g fletcher] 06/6/2018 13:53

SUSPENDED AND BANKRUPT.

FRAUDS END WHEN THEY RUN OUT OF OTHER PEOPLES MONEY.


THIS FRAUD HAS ENDED.

NEXT TIME........................LISTEN.

[r g fletcher] 06/6/2018 13:51

THATS IT OVER FINNITO ITS SUSPENDED ANY SECOND NOW!!

[tomboyb] 06/6/2018 13:48

Sorry chaps -

RNS out -

[tomboyb] 06/6/2018 13:29

"Pursuant to Rule 41 of the AIM Rules for Companies the Company is required to obtain the consent of not less than 75 per cent. of the votes cast by Shareholders at a general meeting"

[tomboyb] 06/6/2018 13:27

A bit devious that -

75% in terms of hands counted -

Should not be allowed -

[sclper] 06/6/2018 13:26

When MAGP disappears off AIM I'm going to miss R G Fletcher's posts.
He called this right years ago and warned it was simply about 'American scammers funding their luxury lifestyles with UK MUG PUNTERS CASH'. I hope Rita, Snead et al. are investigated but they will probably get away with it. They know the risks of getting caught are very low.

[papillon] 01/6/2018 12:47

Even Walter Mitty would find many of the posters on the lse bb deluded, Ettienne1951. :-)

[ettienne1951] 31/5/2018 21:43

Papillon.

One or two are still deluded - Smidsy 'wants his money back and at a decent price for (his) shares".

Bakoven seems to think a change of bank might solve the thorny problem of the bank debt. Then he posts " Net revenues (even after selling non-strategic well interests) will be stronger now than they have been for the past three years. Also, the WED deal surely strengthens the company's hand and, if anything, encourages/supports participation by a handful of Oklahoma City banks."

I know, this is a dream and when I wake up I'll find that MAGP has overtaken BP in market share and put in a bid for it, and Rita has been made an honorary Dame for services to industry and has been unanimously nominated by both parties as the only candidate at the next Presidential elections.

Nurse, I've got a headache!

[lord gnome] 30/5/2018 05:15

RIP MAGP. For the benefit of Fletcher, I have been out of this for a long time now. I must be one of the select few who actually made a decent profit. I got out on the decent from 5p but only because I set a stop loss. Could have made a lot more but didn’t sell soon enough. FWIW I didn’t see this as a scam early on. Well done Fletcher. You called this correctly.

[ettienne1951] 29/5/2018 23:26

Yes, the writing has been on the wall for a while ago. The mantra used to be that funds generated would be re-invested in new wells. Then why the placings and the consequential share dilution?

Eagerly awaiting to see the detailed 2017 annual report and accounts. Nearly 12 months on from the 2016 annual report, when the auditors drew attention to "the existence of a material the existence of a material uncertainty which may cast significant doubt on the Group and Company’s ability to continue as a going concern."

Current ratio H1 (0.18 / 1)
159 producing wells H1 (but divested some in July)
Down to 119 producing wells and $4m reserves valuation Jan 2018

Bank debt 58% of reserves valuation.
I'll let you do the maths for revenue and EBITDA prospects if they are forced to divest wells to repay bank debt.

I can't see anyone taking this on even whether they make further savings or not.

[papillon] 25/5/2018 13:56

leftie
Posts: 58
Off Topic
Opinion: No Opinion
Price: 0.775
RE: Says it all Today 11:24 Clearly the doommongers have got this completely correct. Rita has failed with this one.

In her favor she has previously had a decent track record of progressing companies.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

LOL. Don't be such a mug, leftie! Rita definitely DIDN'T fail with this one (MAGP). On the contrary it was a GREAT SUCCESS for Rita. If you want confirmation of that just look at her salary & expenses package for the time MAGP was listed on AIM! Wakey, wakey, leftie! You failed, NOT Rita!

And she kept up her "decent track record" of doing very well for herself out of promoting companies!

[papillon] 23/5/2018 15:28

Unfortunately the MAGP RNS's only ever told part of the story. They only gave the initial flow rates of a well. So if a well flowed, initially, at 500bopd and MAGP had a 1% stake in that well then MAGP's share was 5bopd. That was enough to get the believers on the lse bb salivating that the well costs would be recovered in less than 6 months and after that it was 5bopd pure profit for MAGP. However the decline rate for these wells is staggeringly high. The initial 500bopd flow rate could quickly decline and in 6 months time it could be as low as 50bopd and MAGP's share could be down to 0.5bopd. Even with similar small percentage stakes in lots of wells MAGP could never generate enough revenue to cover the CEO's exhorbantly high salary & expenses, plus those of her family on the payroll, plus the other BoD members, advisors and AIM listing costs. This was explained many times to the deluded MAGP shareholders, but would they listen? NO, they wouldn't!

AIM should never have let MAGP list. It was just a vehicle to enrich the BoD & advisors at the expense of stupid, ignorant, PI's.

[sleveen] 23/5/2018 14:11

Call the undertaker

MAGP RIP