Mayan Energy Share Discussion Threads

[phoebusav] 10/11/2017 10:15

Exactly. And coincides exactly with start of rally. Excellent news.

[graylyn1] 10/11/2017 10:09

seller cleared?

[patientcapital] 10/11/2017 10:09

Mx overhang gone.

[someuwin] 10/11/2017 10:05

"...Together with the commencement of a workover and well stimulation programme at the Forest Hill Field in Texas, the next few weeks will not be short of high impact newsflow as we advance towards our initial 500bopd target."

[oilbuy] 10/11/2017 09:19

Block energy should list next week. Were in cheap. Its worth 500k for us now which is $650k.Theres plenty of workovers at 50k a pop in that.

[mally6] 10/11/2017 09:12

Cash looks good on paper lets hope it does well but there does seem to be someone off loading heavily

[cashandcard] 10/11/2017 09:01

mally6,


Cashflow is miniscule, so there will be further dilution down the line. However, with WO's, oil production will start to increase and they are working to prove then replicate their program across multiple wells on both fields. Their partner is picking up some of the costs aswell. Initial target is 60bopd, medium term target is 400-500bopd.

The use of Quad neutron tool in picking up missed/bypassed payzones in wells is happening and has the potential to be a game-changer in the longrun.



Cash

[roks] 10/11/2017 08:58

Placing at what price?

[mally6] 10/11/2017 08:53

Whats cashflow i wonder placing is a risk as big seller been off loading into rise

[cashandcard] 10/11/2017 08:44

Still quite cheap given the activity, newsflow and medium term target of 400-500bopd. Some companies are valued at £165million based on prospective resources, and have no production to speak of.

This is still valued at £4million. Get anywhere near their medium terms targets and they should command multiples of current marketcap.


Cash

[dave4545] 10/11/2017 08:26

Clever mm's now you cannot buy online when price back to unchanged but will big premiums to flush out the panic sellers

[dave4545] 10/11/2017 08:21

0.551-0.55p

Been effective all week to buy at bid price during a weak stage, when it turns.

[tomboyb] 10/11/2017 08:19

In for the long haul with Dr Kahn -

news next week so not long to go -

[dave4545] 10/11/2017 08:17

Right now you can sell for 0.556p ans buy 0.55p technically free money

[someuwin] 10/11/2017 08:15

Just over £4m valuation.

Still multiples to go for yet.

[highly geared] 09/11/2017 22:25

Dave; anything below £10 million market cap is cheap based on asset base/ prospects and low risk model.I see 1p being breached next week if initial work overs are positive; we’ll know next week. Secret here is not to sell out too early.As Ianbag correctly notes: 5-6p possible within 12 months- a 20-30 bagger from recent lows. Selling for 2-3x is great but buying near lows and holding for 12 months will make serious money.

[dave4545] 09/11/2017 22:13

I only got involved because of the near perfect chart forming which is sharp drop followed by long period of flat lining followed by a curve up then a gap up spike
which is now in process. My original target was 0.6-0.8p range but those into their
oil stocks might see more value and hold for more but I am playing the chart only
but looking at that decent premium buy at 0.585p late on and probably reason why
you could sell easy and buy none online it should be out of the traps early on.

It closed 0.52-0.55p. I reckon it will open pre market 0.55-0.58p or 0.57-0.6p

[ianbag] 09/11/2017 22:08

Market cap should hit 3.2p here in short/medium term then as we move toward 1000bopd next year then we move toward 5 to 6 p.

[ianbag] 09/11/2017 22:04

HG - spot on there mate

[highly geared] 09/11/2017 22:01

Synopsis
500 bopd net x 300 days net per annum ( allowing maintenance / shut in’s)
150,000 bopd annualised
By H1 2018
$30 barrrel net back based on WTI around $55-60
$4.5 million annualised revenue ex G&A
£3.2 million
Recurring/ increasing production from multiple fields/ wells
PE 8
£25 million market cap
Current market cap.... £4 million

[graylyn1] 09/11/2017 21:33

Forest Hill Field (taken from broker note)

Mayan has a 70% WI and a 52.5% NRI in two leases in Wood County, Texas. The property has been historically prolific, with more than 230 wells. Currently, these leases are not in production although oil was still being produced from some wells up until 15-18 months ago. It is believed that there is still substantial oil in place which could be recovered by waterflood or another method of enhanced oil recovery.

The property was acquired in August 2017 along with a 50% stake in Pergerson Energy, LLC, which is a registered oil and gas operator in Texas from LOG.

Pergerson will be used by Mayan to operate the Forest Hill Filed assets. The total cost of these acquisitions was $110,000 in cash plus an agreement to carry LOG to a maximum of $63,000 of expenditure concerning the first six wells to be worked over. Mayan and LOG will each hold a 50% interest.

A three-phase workover program is planned. Phase 1 to commence in August 2017 consists of the workover of six initial wells, which were producing as recently as Q1 2016. This is expected to add 60 bopd of gross production.

Phase 2 is timetabled for 2017/18 and involves the workover of 50 – 70 wells and Phase 3 involves the workover of the remaining wells using waterflood to capture additional reserves and production in 2018/19.

Phase 1 is expected to add substantial value to the project and Mayan is planning to farmout some of its interest to gain a partner to help fund the significantly development costs required in Phases 2 and 3.


Mayan Energy Ltd ("Mayan" or "the Company") 11 September 2017
Operations Update

Agreement with PyroPhase, Inc.
Mayan (AIM: MYN) is pleased to announce that it has entered into an agreement with PyroPhase, Inc. regarding the test of proprietary production enhancement technology owned by PyroPhase, Inc. on two wells located in Forest Hill Field, Wood County Texas, in which Mayan has an agreement to earn a 70% interest through the farm in announced on 8 August 2017.

Pursuant to the agreement, PyroPhase will install, operate, maintain and, if necessary, remove all equipment associated with the test from two wells, the Quitman 18 and the Quitman 40.  All work associated with the workover and installation of PyroPhase' equipment on the first well will be paid by PyroPhase.  On the second well in the two well program, Mayan will be responsible for only the cost of the workover rig associated with installation of the equipment. Mayan expects these two wells to contribute to two of the six workover wells it will undertake in Phase 1 of the work programme at the Forest Hill Field.

Established in 2006 with a focus on developing advanced oil recovery technologies, PyroPhase specializes in "in situ" electromagnetic heating simulation studies and production analysis.  By partnering with PyroPhase, the Company will potentially benefit from state-of-the-art reservoir stimulation technologies while getting two wells brought on production at a substantially reduced cost.

Eddie Gonzalez, CEO, commented: "The opportunity to work with PyroPhase in a production test of their reservoir stimulation technology while having two wells turned to production to enhance revenue and cash flow for the Company is a win-win with major upside for Mayan shareholders.  Our technical team, led by Dr. David Kahn, is excited by the potential highly profitable expansion opportunities in the East Texas Oil Field that would result from a successful test of PyroPhase' proprietary technologies on our wells.  We will monitor the progress with great interest and advise shareholders of the performance of the test in due course." 

31 October 2017
Mayan Energy Ltd ("Mayan" or "the Company")
Operations Update
 
Mayan (AIM: MYN), the AIM listed oil and gas company, is pleased to announce an update on its activities as its looks to raise production and build and optimise its portfolio of producing assets in North America. 
 
Highlights:
·    Production restored at the Forest Hill Field Project, Wood County, Texas ('Forest Hill') following first well re-entry

·    Initial flow of 21 bopd (15 bopd net to Mayan) with production stimulation expected to deliver sustainable production of over 50 gross barrels per day ("bopd")

·    Additional two wells to be brought back on stream by end November 2017
·    Further testing and re-logging at Morris 1 well at Stockdale Field ('Stockdale') positive with significant potential to optimise production level and exploit newly identified pay zones
·    Work at Zinc Ranch to increase production from current levels and test Prue formation
·    With work ongoing at Forest Hill, Stockdale and Zink Ranch, the Board believes a medium-term target of 300-500 bopd (net to Mayan) is achievable
 
Eddie Gonzalez, Managing Director, said: "We now have the assets in place to begin to deliver on our objective of 300 to 500 net bopd to Mayan.  Between Forest Hills, Stockdale and Zink Ranch, we believe we have an inventory of fields and wells sufficient to achieve this goal.  And with the technologies and expertise we can now apply through the leadership of our strategic partner, Dr David Kahn, and myself, I believe that the progress we have been making towards reaching a sustained positive cash flow continues apace."

[highly geared] 09/11/2017 21:21

Keya, if the first wells go well ( no pun intended!) I think we’ll see 1.6p in the next 4-6 weeks as the market catches onto to the potential across the asset base. EG also appears an excellent communicator so will therefore feed the market news ( the life blood of AIM stocks).

[highly geared] 09/11/2017 21:18

I lost £9k with the old Nothcote, I intend to make it back and more with the new Mayan.Change your mind if the facts change...
If you can’t work out what’s happening here go elsewhere Gazza as we’ll be fine thank you.