Mayan Energy Share Discussion Threads

[coldspring] 08/10/2018 17:52

Wow never anything like that. It almost accuses them of fraud.

[sleveen] 08/10/2018 17:36

Must have a massive loss on their hands...probably.

[grannyboy] 08/10/2018 16:21

Yes same here spawny...anyway onwards and up elsewhere, .

[spawny100] 08/10/2018 16:15

I can't believe the price held up reasonably well after that report allowing me to exit around 0.4 tbh grannyboy - thank my lucky stars there.

[grannyboy] 08/10/2018 16:13

Anyone with any sense would have got out of these after the abysmal half year report,...and it makes you wonder at what price the fundraising is going to be at?!!!

[richie666] 08/10/2018 14:26

Gentlemen (and any ladies invested here!

To be on the safe side and to ensure that Wood's is gone by any measure please ensure that you lodge your votes with your broker/nominee AGAINST his and JD McGraw's re-election at Thurs AGM.

[cashandcard] 05/10/2018 11:55

Can't believe this has gone so wrong since the rally last year and the higher prices earlier this year. Agreed Sleveen, more money will be needed to get assets into production. Keeping an eye on this.


Cash

[sleveen] 05/10/2018 10:00

My view is that there will be a placing as the G&A is the main burner of cash, even if the ops are funded.

Probably around £1.5m needed.

GLA.

[spawny100] 05/10/2018 08:24

Not a popular appointment it would seem

[spawny100] 05/10/2018 08:09

I'd kind of buried my head in the sand about it sleveen - I knew but didn't want to know and thought that things would be better this time!

[sleveen] 05/10/2018 08:05

spawny so the info regarding Northcote is new to you?

[spawny100] 05/10/2018 08:01

Didn't think much of Charlie Wood from that article in Guerilla Investing so not sure if the market will see this appointment in a positive light?

[brasso3] 05/10/2018 07:49

The end of 'fast Eddie'!

[grannyboy] 04/10/2018 18:11

spawny... Looks shocking in the cold light of day...you can't really take it in, but when it's Put up in numbers....

460 BILLION SHARES!!!!

SHOCKING !!!!

Align was filling their boots and even asking if anyone wanted to sell their shares.....Were they part of the ramping?!!!!

[spawny100] 04/10/2018 16:58

"In Eddie we trust" - I remember thinking that was a pretty gauche thing for a company broker to say. Wish I had read this before investing here.

[tsmith2] 03/10/2018 20:40

#bargepole

[highly geared] 03/10/2018 19:45

EG/CW will likely be gone within the month.But,we’ll see another raise to fund it. Asphalt ridge appears to be dribbling along at 250 Bopd testing...

[brasso3] 03/10/2018 19:34

I think its fair of Align to publish that as clearly they have been promoting MYN on the back of interviews/ information providing my MYN management. I do not expect any response from MYN BoD though.

[sleveen] 03/10/2018 19:31

Spot on, i'd love to see the answer.

[brasso3] 03/10/2018 19:25

OPEN LETTER TO CHARLIE WOOD – CHAIRMAN OF MAYAN ENERGY

Charlie

I do not write this letter easily given the relationship between Align and Mayan Energy and our substantive holding in the company given the potentially negative impact this may have in regards to the contents herein.

I believe, as a shareholder first and foremost and a professional market participant, that the following issues require thorough investigation forthwith:

Does David Khan still hold the 91.6m shares in the company? If not why has there been no TR1 disclosure as is required in regulation? If they have been sold in whole or part, the timing of sales relative to periods of his involvement should be investigated to ascertain if there were any regulatory breaches in this regard.
Given the magnitude of the personal enrichment on your part re the Deloro deal and also Eddie Gonzalez can you explain to ALL shareholders why you have not made any personal investment in the company this last 15 months with your own cash? The placing in November 2017 provided in large part the funds to complete on the Deloro deal and yet we sit with an investment that on paper is now at a small loss based on the current PQE share price yet you have near 7 figures of value accrued to you. There is a mismatch here of significant proportions.
Align, as the principal research provider were supplied information from you/the company that we have relied upon in making our recommendation and also committing our own cash – can you advise why there has been de facto no operational management Stateside that has made a mockery of these forecasts?
As one of Mayan’s principal supporters we cannot stand by and let what we believe are material assets of the company fester and not produce what the capital providers have entrusted you and the balance management team to deliver. The time is now for you to show decisive action for MAYAN shareholders and to show your ALIGNMENT with them (as we do).

We have 2 replacement directors in the wings ready to replace you and Mr Gonzalez (whose position is now totally untenable in our opinion given the abject non delivery of production over the past 15 months) that we believe can get these assets producing should you not be capable of doing so. I also believe that you should waive any salary whatsoever (including accruals) until such point as the company has produced a minimum of 3 months of 300 bopd production.

Chairman’s roles carry responsibility and you are fully aware that behind the scenes we have attempted to ensure the company is being run properly and value created for shareholders. The time for silence is over. Produce from the assets that you have raised millions for in the last 15 months or step aside and allow new directors that ARE capable of doing what we believed, mistakenly, the current management team were to have been doing this last 12 months.

Richard Jennings

[spawny100] 03/10/2018 19:22

Ok HG it was you that first put me onto TXP - thanks for that. Agree looks very promising.

[wiltshireram] 03/10/2018 19:19

Ref placing and 'read the RNS please'. Yes, I've read all the RNS's this year, including the ones that said 300-500 bopd this year......which has now become 80bopd. I dont trust what current management says one iota.

[novicetrade68] 03/10/2018 18:27

Makes you wonder whether the company is now in the process of raising placing money given these huge sells all the time towards the close, or reported after hours, the 1m at 0.29p almost looks desperate.

[highly geared] 03/10/2018 18:19

What is crazy with Mayan is they are operating onshore USA within established virtually zero risk fields. I’m not sure what’s gone so catastrophically wrong but it appears a mess up with legal, ownership and permitting + an inability to clean out and stimulate whatever work they did. Whatever happened to the Star Wars roke neutron blah blah tool they were going to use? All this into a great market for oil and high prices. If you can’t run an oil business in the current market what hope is there...