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 40,170 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

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Date Time Title Posts
14/12/201709:29Magnolia Petroleum Plc 2013, for the serious holders1,691
04/9/201409:38why to BUY and HOLD in Magnolia Petroleum (MAGP-
12/12/201310:10Magnolia Petroleum Plc602
12/9/201309:51Step Up in Revenues from Highly Prospective Magnolia Petroleum PLC4,503

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Magnolia Pet Daily Update: Magnolia Pet is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker MAGP. The last closing price for Magnolia Pet was 4.44p.
Magnolia Pet has a 4 week average price of 4.30p and a 12 week average price of 4.13p.
The 1 year high share price is 655p while the 1 year low share price is currently 4.13p.
There are currently 34,906,992 shares in issue and the average daily traded volume is 93,160 shares. The market capitalisation of Magnolia Pet is £1,549,870.44.
ettienne1951: 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.
ettienne1951: 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.
failedqs: Area44 - I'd say that sleeven is correct here, magnolia is finished. Looks like Rita has sucked the lifeblood out of the company and the last few fundraisings have done little more than prolong her gravy train.It didn't turn a profit when times were good, so why would it now?One thing that you should bear in mind, Steven Snead decided to accept a huge discount to the share price to get rid of his huge shareholding, and he knows exactly what the prospects are....I'd also say, I was a holder from the floatation but could see the writing on the wall and sold out a couple of years ago. I see no reason to buy back now with the shares about 96% lower than when I sold.Don't get too attached to a share - look at it logically.Magnolia is totally and royally screwed.
failedqs: Wrong.......They are buying the shares at 0.06p.They are issuing NTOG shares as part of the deal at 2.5p, that's nothing to do with the MAGP price.
lord gnome: Interesting find reallyrich. I wonder if any of our so-called regulators know about this. Makes you wonder if the share price was manipulated all the way up to 5p. Do we know who bought all the wells divested by MAGP last year?
lord gnome: Still beating the drum Fletch? I don't think anyone is left to listen. Judging from the share price everyone has already gone for the exit. If you are the last man, then please shut the door as you leave.
r g fletcher: Investors are being warned about putting money into fledgling firms as nearly one in ten have seen their share price drop by 90 per cent. Small, new businesses are attractive as their low share prices have the potential to rise quickly. However, companies are more likely to fail in their early years. "Could have been written with MAGPISH in mind!!"
r g fletcher: Five months ago, Tom wrote this damning assessment of Magnolia Petroleum’s (MAGP) business model and market capitalisation. So far, his view has been entirely vindicated. Despite the howls of protests from Magnolia’s ardent supporters, not to mention the absurd accusations I’ve read over the months accusing ShareProphets of being involved in a shorting conspiracy, I actually don’t think Tom went far enough in his criticism of this company. The business model is not clever and it is not shrewd. If you told American private investors about what this company did, they’d laugh at you. There is a very good reason why this company is listed here, with its American holdings, American directors and American headquarters. And I’m afraid to say that reason isn’t because certain British private investors represent the savviest money in global markets... The business model that Magnolia is pursuing is well established in the United States. The problem is that it cannot work in any meaningful sense on public markets, with the associated PLC overheads. As Tom said, tiny carries in marginal producing wells are freely traded among privately held American companies. Usually the people who buy these sorts of interests are “Mom & Pop” operations seeking to boost their retirement incomes. There must be thousands, if not tens of thousands of such oil wells, the proceeds from which are divided up in this way. There is no getting around this fact and, as if any further warning were needed about what a dire investment Magnolia is, today’s RNS should set alarm bells ringing. It wasn’t that long ago that Magnolia was issuing nearly one RNS a week. It genuinely doesn’t seem to have dawned on some people why this was a sign of trouble. After all, why would a company, with such a great business model, be so desperate to promote itself? Why not simply let the results talk? But letting the results talk has always been Magnolia’s Achilles heel. Magnolia bulls will no doubt say that the significant reduction in the number of RNSs over the last few months is evidence of the company moving in the right direction. Well, if they really believe that, that is entirely their call, but I’d be far more concerned why Magnolia still refuses to issue production figures, especially as it has been so keen to publish Initial Production Rates in the past. I’ve talked about Initial Production Rates before, and for Magnolia’s shareholders these figures have been particularly troublesome in the past. In today’s RNS, Magnolia proudly led with its participation in 155 producing wells. I’m deliberately not going to quote what the company had to say about the IPRs at some of its other holdings, suffice to say I am pretty sure that if we ever do find out the ongoing production rates at these wells in the future, I’d be amazed if it is anywhere near what was initially achieved. At 1.05p Magnolia has a market cap of £9.56million. Tom quoted a target of 0.6p in his original piece. Whether or not the share price falls this low is entirely down to the vagaries of AIM. With this market they way it is, perhaps there are greater fools out there who will even push the price higher. Whatever the case I can’t see any compelling reason whatsoever to hold this stock, no matter how deep in the red your position might be. I’ve been in a similar position myself with a stock and the best thing to come out of owning a share like Magnolia is to learn what not to do next time. This in itself could prove to be extremely profitable in the long run, but don’t kid yourself about the fundamentals of this one. They are an illusion. - See more at:
r g fletcher: So whats happening with the MAGP share price today ...anyone ?
colinvest: UBS' Weiss credit-rating is a "D", just slightly better than the "D-" of the Cyprus banks! People may not know of the UBS Weiss-ratings, but Weiss are totally trustworthy and 'THE' top ratings' agency. They are 'private' and not influenced by 'vested-interests'. So earlier postings about UBS being 'in trouble' are pretty near the mark, and it is no wonder that they need to liquidate as much tangible security as possible in the most orderly way, - i.e. to dump 130 million shares in one go at a later date would create havoc with the MAGP share price, and indeed with any other company holdings they might have. So hopefully there are not many more shares for UBS to liquidate in MAGP, like 2-million earlier this week at 2.88p, before which the spread-betting quote was 'telephone-only'. With the selling pressure off, the share price has more of a chance to be re-rated on Rita's recent announcements. Hopefully any one of North Korea's nuclear missiles is not aimed at the Bakken, which, IF it reached that far, would have negative implications on all companies with interests in that area ... so here's hoping that the Fat Paranoid Prat, Kim Jong Un, will be taken out sooner that later, so that 'normal service can be resumed' ...!! Happy Easter ...!
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