Mayan Energy Share Discussion Threads

[cashandcard] 16/11/2017 10:27

Pp,


Yes, good point. Still very cheap indeed. Even £7mln is still cheap given a short stroll down the smallcap oil universe.



Cash

[on target] 16/11/2017 10:21

The market cap has increased following today's placing and ADVFN hasn't updated their figures yet.

1.16B shares in issue x 0.68 = £7.9m, so we now need 519 bbls.

[piperpeter] 16/11/2017 10:14

It would only take an average 329 barrels per day production to match Annual Revenue with the current market cap of £5 million.

329 bbls @ $55 x 365 days = US$6,604,675 = GB£5,005,228.

Pp.

[jungmana] 16/11/2017 10:12

My order is in for 1m shares at 0.60p. Hopefully will be filled within next 5 trading days.Gla

[cashandcard] 16/11/2017 10:12

qackers,


Yes, they have 28.50% (combined) in Deloro. Yet MYN will pay $1.5mln for 17.46% when cash balance will be $2.90mln - they are paying far less together when the company has no revenue or assets (it should be done on equal terms).


Cash

[on target] 16/11/2017 10:04

Sold a large chunk this morning, as I really don't like this Deloro deal.

Surely the $1.5m they're investing in Deloro would have been better spent on workovers at Forest Hill. At $50k a well - that's 30 wells they could have worked over for that money at what bopd? FAR more than the 85 bopd net or whatever it is they are hoping for from Deloro! It doesn't look like a good deal to me and the fact the directors own >50% there looks like feathering their own nest to me.

Will keep the rest in case there is any short-term upside from operational news but the potential share price has now been severely reduced due to the dilution from this placing. They must have promised the placees a quick buck unless they've all been forward-sold of course.

[croasdalelfc] 16/11/2017 10:04

They are backing their technology to get more oil out of the ground .Anyone know what heavy oil sells for ?

[qackers] 16/11/2017 09:59

Interesting that the directors have large stakes in Deloro. I take a glass half full view and feel more confident as the directors have backed their own judgement with their own money in the new company.

(edit Hope I have got that right.)

[cashandcard] 16/11/2017 09:29

Highly Geared
16 Nov '17 - 08:04 - 1092 of 1104 0 0

Hmmm, not quite what I was expecting. Greater value IMO to concentrate on existing assets with minimal dilution to develop. Good for 2019 bigger picture but a fair way off for c 375 bopd from this deal.


------------------------------------------------------------------------->>;


Agreed. It could be useful in a year, very useful in 2, but I feel the money should have been raised for the current assetbase and to further enhance them. The directors have a bigger stake in Deloro than the company does. I am not happy with that (just being frank).

I still believe this is hugely undervalued on the current assets. One thing for sure, they have raised monies now and we can look forward to near term targets of 300-500bopd. The quad neutron tool will be key to unlocking more bypassed oil.



Cash

[jungmana] 16/11/2017 09:06

Is a good deal and medium term this is a good investment imo.

[patientcapital] 16/11/2017 08:56

True. Still up a lot since the run up started so can't grumble. Happy with the deal. Brings in $22m of asset backing if needed.

[kidknocked] 16/11/2017 08:52

Deal looks v good. Worth buying a fair few of these.

[keya5000] 16/11/2017 08:51

PC leak was after market closure yesterday so no effect on the deal.

If insiders sold in advance that's their (Criminal) business.

Deal looks sound.

[patientcapital] 16/11/2017 08:43

Deal looks okay - price double the previous so reasonable. More concerned about the obvious leakage beforehand though.Anything from Align yet?

[babbler] 16/11/2017 08:34

I'd not wait too long... Bouncing...

[keya5000] 16/11/2017 08:25

Jungmana you could be right but the deal looks very decent and the news flow will also increase on the back of this.

All about mcap and this £2m looks like it will be used well.

[jungmana] 16/11/2017 08:20

With over 400m shares to churn and some traders from lower down selling am afraid you will be able to buy in about 0.6p in a few days.

[inv] 16/11/2017 08:15

Will soon be be back to 0.85p

[tsmith2] 16/11/2017 08:08

a lot of churn to come. Was clearly ramped up

[113mike] 16/11/2017 08:05

From rns a couple of days ago....-- The Company is now moving forward with plans to restore an additional two Forest Hill wells to production by early December 2017, in line with its strategy to increase overall net production to Mayan to 300- 500 bopd in the near term.Eddie Gonzalez, Managing Director, said: "The initial performance of the Gilbreath well at Forest Hill is excellent. Together with the Stockdale Oil Field, Morris #1 well, that we recently brought into production, the Well will make a useful contribution towards us achieving our 300- 500 bopd near term production target from our current portfolio of projects in Oklahoma and Texas. Importantly, we believe that these results bode well for the other wells we have identified at Forest Hill, and add support to our plans to restore and stimulate a further three Forest Hill wells to production before the end of the year. Taken as a whole, believe that these new developments and the plans that we have for the first half of next year, will enable us to shortly reach our goal of transforming Mayan into a cash flow positive oil and gas company. In light of the successful stimulation of Gilbreath #19, we are now evaluating the reserve potential at Forest Hill and I look forward to advising the market in the near future as to the size of this valuable resource, which we are confident will confirm the significant asset backing that is now behind Mayan."

[highly geared] 16/11/2017 08:04

Hmmm, not quite what I was expecting. Greater value IMO to concentrate on existing assets with minimal dilution to develop. Good for 2019 bigger picture but a fair way off for c 375 bopd from this deal

[jayj4u] 16/11/2017 08:04

Dave4545...thanks for your comments. please read the news. Im not assuming anything. Whatever it says in the news everyone here can read it!

Dip is expected but for how long.... Lots of news flow in the coming weeks.

Even if they bought it at 0.006p... why would they buy it if they did not believe this is a GOOD investment?

[rmsl1] 16/11/2017 08:00

Back above .75p in no time ;)

[dave4545] 16/11/2017 07:57

jayj4u

No way was this placing done at a premium. They have used the strength recently above the price to forward sell a lot of this stock. Price has trebled from the lows in a week so not surprising the placing has showed up. People were mad if they did not take some kind of % profits when the price hit 0.8p+ when it was 0.3p a week earlier. Just a rule of thumb with Aim play safe and bank some or all on a spike because a lot of companies use the spike to raise funds.