Mayan Energy Share Discussion Threads

[lab rat99] 20/9/2018 14:08

Share price says I was right. Maybe you should of listened.

Stand by for some more fluff next week, rigs mobilised in October, hundreds of barrels a day blah blah blah.

[cahus] 20/9/2018 13:03

Lab rat still bashing MYN... what happen to you no more appearance on lse board???? Well next week you will disappear here as well hopefully with the results

[lab rat99] 20/9/2018 10:49

No operationally is the cost of running the assets.

Corporate cash burn is $150k a month that is over 80bpd just to cover the corporate side. That is why they have clearly stated operational.

Nice try.

[spawny100] 20/9/2018 10:20

Disagree lab rat but nice try. Operational breakeven is quite specific and is the inflexion point at which a companies net income is zero. This figure should of course take account of all costs of running the business.

[spagnolia] 20/9/2018 08:27

Roll on next week and the AGm!

[spawny100] 20/9/2018 08:22

A bit of a teaser rns but I like the fact that they mention breakeven of 80bopd. Last rns said they were producing well in excess of that so that's all dropping straight to bottom line so no need for more fund raising. Call me a glutton for punishment but I topped up under 0.4 after that rns - seems quite a few others decided to do so too.

[113mike] 20/9/2018 07:47

Interesting RNS?20 September 2018Mayan Energy Ltd ("Mayan" or the "Company")Operations UpdateMayan Energy Ltd (AIM: MYN), the AIM listed oil and gas company, announces an update on its Forest Hill assets in Wood County, Texas where it holds a 75% working interest ('WI') and 52.5% net revenue interest ('NRI') in two oil and gas leases.Forest Hill forms part of the Company's portfolio which includes a 60% WI with a 45% NRI net in the 105.7 gross acre Stockdale Oil Fields in Wilson County, a 60% WI and 45% NRI in three horizontal and two vertical Austin Chalk wells in Gonzalez County, Texas and a 100% WI and 75% NRI in the 1,520 net acre Zink Ranch lease in Osage County, Oklahoma. A full update on these and the Company's investments in Deloro Energy, which provides it with exposure to the producing the Asphalt Ridge heavy oil sands project being developed by TSX listed Petroteq Energy Inc. will be published the week commencing 24 September 2018.In accordance with its AIM rule 11 obligations the Company advises that it is currently awaiting approval from the Wood County Magistrate to obtain lease right of way access into the Forest Hill property. Upon approval, which following counsel the Board anticipates will be forthcoming in the near term, Mayan will be able to immediately resume production on the leases, which have six producing wells and 225 other local wells with 20-acre spacing and good reservoir characteristics.Mayan Executive Chairman Charlie Wood said, "We look forward to providing a full update on the portfolio next week outlining where we are in terms of production and development in both Texas and Oklahoma. We believe the delay at Forest Hill will be resolved this quarter and with production coming on stream across the portfolio, a strengthening of our operation capabilities with the contracting of the likes of Derrick Oilfield Services, who are on an incentive driven package at Zink Ranch, we believe we can generate strong returns from the current asset base. Importantly, with cost cutting, operational breakeven is in the region of 80 barrels per day and in tandem with the realisable value of our investment portfolio which stands at c.$1.5m, over and above our existing cash resources, we do not anticipate the need to utilise the market in the near term."

[113mike] 17/9/2018 16:11

it's getting grimmer! FFS!

[spagnolia] 17/9/2018 11:30

Yes Spawny I am heading there - send me any questions.

[spawny100] 17/9/2018 10:53

Agree AGM will be a thoroughly miserable affair if no good news first. You still going spag? Got a list of questions?

[spagnolia] 17/9/2018 10:39

AGM next week surely he would want some positive news out there! Also contracters paid in shares??!!!

[grannyboy] 17/9/2018 10:35

It's been an abysmal performance from Gonzalez, and not as in 'speedy'...after promising 'plenty of news flow over the summer, the progress has been, to say disappointing would be an understatement...And they don't reply to emails!!

[spawny100] 17/9/2018 10:20

Extremely. If news was good then can't help feel Eddie would want to update on progress. The radio silence here is deafening.

[113mike] 17/9/2018 10:16

Grim isn't it!

[spawny100] 10/9/2018 12:33

Seems an unjustified drop on negligible volume so can only hope it is the mm's fishing for shares prior to a supposed operations update? Better be a damn good one!

[spawny100] 08/9/2018 21:30

Operations update Mon or Tue according to some on Twitter and another financial site.....

[brasso3] 07/9/2018 22:05

Hopefully some news soon with the Stockdale wells.

[spawny100] 07/9/2018 18:35

I think all MYN holders have died of boredom spag! I'll take a triple bottom and ending the week blue (though I'm hardly cracking open the champagne) ....

[spagnolia] 03/9/2018 18:30

Anyone heading to the AGM? I will attend!

[sleveen] 01/9/2018 10:01

Upbeat article on Petroteq

[113mike] 31/8/2018 08:28

Interims normally released end of Sept. PQE AR 1000bpd confirmation should be released before then as well.

[nicosevos] 31/8/2018 08:19

C&P LSE BB

orslega Posts: 15,722

Price: 0.47
AGM significance
Today 08:09

This is the first AGM since 2015 - the company is not obligated to have an AGM - this is because the holding company is registered in the British Virgin Islands.

imo this a good sign demonstrating that Mayan has turned the corner and now happy to meet shareholders - otherwise why would Eddie bother - he doesn't have to.