Mayan Energy Share Discussion Threads

[patientcapital] 17/11/2017 09:36

Trade went through this morning...

[profw] 17/11/2017 09:26

hxxp://www.nexexchange.com/announcements?newsid=3849151

Not Yet on NEX..

[patientcapital] 17/11/2017 07:51

Block back on NEX today.

[croasdalelfc] 16/11/2017 18:40

Align will be reevaluating Mayan next week

[tsmith2] 16/11/2017 16:56

jayj4u - 16 Nov 2017 - 07:27 - 1077 of 1133 - 0Guys Guys!! CHILL OUT! The deal was done when the stock price was 60% below 0.006p! Not when the stock was trading at 0.008p! Read the news again. Very good investment!From the news article:-The Placing was arranged by Mayan and Novum Securities Limited and the Placing Price represents a premium of 60.5% to the Company's 30 day VWAP.DEAR ME

[jungmana] 16/11/2017 15:37

The placees are happy to take 10% profit. Impressive demand for this share today

[babbler] 16/11/2017 13:29

Looks stable now. Blue tomorrow.

[tomboyb] 16/11/2017 12:10

That should add more cash to the coffers for Mayan -

And it is not too long to go -

[piperpeter] 16/11/2017 12:08

Block Energy (RNS September 25 2017).

"The Company currently holds three licences in Georgia, all of which are proven fields that are either currently producing or have historically produced".

Norio, Satskhenisi and West Rustavi Block Xif.

Process to dual list on AIM underway.

CPR covering detailed reserves potential across all three licences in Georgia being completed.

Pp.

[keya5000] 16/11/2017 12:05

Crosedale

BLOC will relist on the 1/12 on AIM.

There £300k will be worth £400k at the IPO price and that will give them about a 5-6% interest in such.

[croasdalelfc] 16/11/2017 11:42

Mayan have a £300k equity stake in Block energy which has a 60% interest in one field. They are projecting 300bopd near term and 2000 bopd long term - currently delisted.

[croasdalelfc] 16/11/2017 11:34

hTTps://twitter.com/texaseddieg/status/931094975676342272

[cashandcard] 16/11/2017 11:30

More about Asphalt ridge

[jungmana] 16/11/2017 11:11

I agree. I see the deal as a longer term beneficial investment to myn. In the short term let Kahn and the team crack on with the new £1.2m cash pile added to whatever was already in hand.

[piperpeter] 16/11/2017 11:10

The Company now has an interest in the four US Fields they are currently working on, plus (is it three?) Fields via Block Energy, in which the Company has a stake, and now a further Field which, itself, may netback about 83 barrels per day for the company by February?

Not too bad for a Company of its size.

What will the 2P reserves figures be for all these assets?

Pp.

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

Yes but that's only 83bopd net to MYN by Feb 2018 and 415bopd net by 2019.
With 30 Forest Hill wells even at a conservative 15bopd net to MYN that's 450bopd.
Plus it sounds like the Deloro heavy oil sells for a discount to WTI unlike the premium the Forest Hill oil fetches.

[jungmana] 16/11/2017 11:02

On target, this is why I thought is a good deal. They can easily do 30 wrlls on the cash pile in hand.Asphalt Ridge too has a target of 1000bopd by February 2018 and 5000bopd by 2019.

[cashandcard] 16/11/2017 10:58

Pp,


Yes, I agree. The remaining 500k will be settled via shares which are locked-in until end January 2018.

As little will be seen from Asphalt Ridge until next year, I would like to see them turbocharge workovers/development at Forest Hill and Stockdale. While they are at it, get rid of Shoats Creek.



Cash

[on target] 16/11/2017 10:58

Piperpeter,

$50k according to Khan on the recent podcast - so they could have done 30 wells for that money.

[jungmana] 16/11/2017 10:57

Pp I think the figure is about $50k for well workovers

[jungmana] 16/11/2017 10:56

Edit $1.005m not 1.05. £1.2m about would still be left with the company

[piperpeter] 16/11/2017 10:54

What is the approximate cost per well workover for the ongoing US operations?

Pp.

[jungmana] 16/11/2017 10:53

Yes the cash element is $1.05m and then $500k is through issue of 64m shares of Myn to deltoro which has a lock in period of 3 months.

[piperpeter] 16/11/2017 10:49

Do we all read it that the cash element of the acquisition is US$1,005,000?

Approximately £762,000?

Thus leaving about £1,238,000 as working capital for the current ongoing US operations?

Pp.