Mayan Energy Share Discussion Threads

[highly geared] 20/11/2017 08:12

Cash
I’ve bought back in here now the price is back to the placing level or thereabouts.
I’ve figured the placing money net of the investment + the previous injection from DK/EG should be good for c 30 workovers.
Assuming reasonable success and say an average of 50 Bopd from each and say 25 Bopd net to Mayan, this will get them to 650/700Bopd; even with some variable results we’ll comfortably see 500 Bopd by Q1/2 2018. By this time it will be self financing.
Moving to 2019 , with the investment contribution of c 400 bopd + say 1000+ bopd from our assets by this time , that,s c 1500 bopd total.
At c $ 25 net back ( being conservative) that’s gross revenue of $11.25 milllion assuming 300 days production per year. So , c. £8 million or say £6 million net of G&A. Conservative PE around 8 provides for £50 million market cap or c. 7 times current levels allowing for the placing dilution.
If the above is only half met, it’s still 3-4 x upside. Good risk/reward now the workover funding is in place.

[profw] 20/11/2017 07:40

It's NOT important How Big that investment is

It's important what that Investment is about to Yield

A £250K investment when it's becomes £2,500,000 in the Near Term

and is about to yield £ 25,000,000 in medium term

And to Become £ 50,000,000 longer term

That is his 'entire families financial future'!

Is it NOT?

[brasso3] 20/11/2017 07:24

I doubt £250k is his 'entire families financial future'!

[profw] 19/11/2017 22:15

Any One here with a 76 Average?

----------------------------------

This is what I read on LSE BB

Cahus,
Really?
"work extremely hard if they want to fail"
"future looks plain sailing"
"autopilot mode"
"Nothing can go wrong from here onwards"
"unstoppable and just watch the share price flying from now on"

I'm not sure if you're baiting here, tongue-in-cheek, or serious???

Who knows, your wife's prediction may come true, I sincerely hope it does - I'll be out exactly 23p before her. It does seem to me to be on the improbable side of unlikely, but who knows? A couple of nights ago ProfW (remember him?) told me that my break even (76p) was impossible from here - "even on AIM" - I fear that, whilst obviously not impossible, the odds are stacked against me.

Some time ago I was invested in a company and I had similar sentiments to those that you have expressed above - not so positive, but confident nonetheless - I asked myself the question "What could possibly go wrong?", and I decided that the risk (there is ALWAYS risk) was minimal so i threw some pennies in.

What could go wrong? The drill bit snapped - that's one thing that could go wrong that I hadn't considered. I got out with minimal losses, unlike here (in percentage terms, I didn't put a great deal in).

This is an extremely risky share, with an appalling history of dilution, if you really do feel that the risk/reward is right for you then I wish you the best of luck.

But this is one that must be watched constantly I feel.

Good luck, genuinely, to both of you.

Cheers

-------------------------------------------

76 p Trading range of MYN was in 2010 -- 2011 days

Even a £ 5000 quid investment would have an investment of a mere 6579 shares.. which today are valued at £40.46 Before commission and most likely some 35 Quid..

Please enlighten me why such a tenacious / STUPID holder of MYN shares would be an ACTIVE Basher of MYN shares?


Please also explain to me.. Why would someone with a 76 p average NOT bail out .. There were many many chances for exit at a moderate / minimal loss ?

I find it Materially OBJECTIONABLE that one invests in a share without a RISK MANAGEMENT strategy.. and keeps POO POOing a share because of his STUPIDITY..

and claims IMMUNITY because he is holding some 6.5 K shares at an average of 6p?

Now What about someone like me..Who holds 65 MIllion shares at an average of 0.5 p?

Or that guy who bought more than a few million shares at 0.95 p?

[keya5000] 19/11/2017 20:43

News next week could be quite substantial;

1--Stockdale Workover.
2--Forrest Hills.
3--Block Energy
4--Zinc Ranch.

Could we also have something unexpected on Shoats???

[spagnolia] 19/11/2017 19:20

Profw - care to elaborate?!

[jayj4u] 19/11/2017 19:19

I have to give my respects to anyone who sold at the top and is buying now! WELL DONE! You got it right!!!!

For me I will buy some more this week. As of today my average is 0.73. Im very happy with this. I would like to hold this stock for a long time....! I like the new management! They have the experience and a very good base to start something amazing.

Anyway, anyone who bought in 0.6 range!! WELL DONE! Welcome to club!

[richie666] 19/11/2017 19:14

Jungmana - I wouldni bet against u on that supposition

[jungmana] 19/11/2017 18:24

Guys, this is no brainer at £7m market cap. Bought back in on Friday and will be adding again tomorrow.Will not be surprised to see myn back at 1p later in the week.

[croasdalelfc] 19/11/2017 16:56

I also like :$1/ barrel costs and first Forrest Hill well was 'beyond our wildest expectations'

[astralvision] 19/11/2017 13:07

Good interview and good summary Cash.These are looking a bit of a bargain after the only to be expected profit taking. Plenty of cash, newsflow expected to be strong, near term cash flow positive, experienced management, risks low as the business model is all about rejuvenating existing wells/fields.What's not to like? 1p+ will be first base, see these more like 5p-10p next year. imo.

[cashandcard] 19/11/2017 12:54

Jungmana,


Thanks. That was a really upbeat and informative podcast by DK. A few points stood out to me;

- Asphalt Ridge all-in-csts $27/bbl

- Forest Hill asset performing better than expected

- A complete overhaul to heavy-oil pricing as refiners have increased capacity to deal with it.

- Forest Hill heavy-oil actually recieves a premium to WTI when construction demand is strong and a small ($3/bbl/) at other times.

- plan is to focus on increasing production and increasing & booking reserves via the use of known and novel secondary recovery techniques.

- no plans to go into pure oil exploration. Simply go after known mature oilfields.



Cash

[profw] 19/11/2017 00:05

I am Hearing Very BIG EXPLOSIVE News is about to be released Next Week. I am also given to understand that the last placings were FORCED on to the MYN BOD>> Have a great weekend any way

[spagnolia] 18/11/2017 19:50

Thanks JUng

[chopper harris1] 18/11/2017 09:59

Deleted post.

[spagnolia] 18/11/2017 09:10

Do you have a link Jungmana?

[jungmana] 18/11/2017 08:25

New podcast yesterday on voxmarket with Dr Kahn. Worth listening to from about 11mins in.

[cashandcard] 17/11/2017 12:26

HG,


It may well do. I am looking to top up, regardless of the formality of dilution, which is going to be factored in now. There is plenty of news on the way and now they have an extra £1.24mln cash to spend on WO's.

Even with all the dilution, marketcap is £7.1mln with £1.24mln cash remaining from the funds just raised when taking into account the Deloro stake spend. This is by far one of the lowest value plays in the smallcap oil universe and it has some excellent projects to take it forward.

Edit: Angus Energy announced (this morning) 40bopd after a long awaited well on the Lidsey oilfield. MYN increased production to 43bopd from upper Anacacho zone alone. Its costing ANGS millions for each of the new wells it drills. MYN is going after old wells, workovers/stimulations at circa $50k a pop.

The difference?

-ANGS is £40mln
-MYN just £7mln

with lots more MYN wells in the next few weeks and months!



Cash

[brasso3] 17/11/2017 12:17

This will be stuck in the 0.6 - 0.65p range for a few days now.

[highly geared] 17/11/2017 11:52

May go below placing price; one to watch at the moment.

[jayj4u] 17/11/2017 11:17

Buying some more here.....I believe in this company especially the new management...

might be worth listening to this ......This is from their web site.

hxxp://mayanenergy.co.uk/media/vox6917/

[timw3] 17/11/2017 09:58

o/t MKA About to smash 11p.... 15p-20p today looks nailed. only £10m cap still

[scottishfield] 17/11/2017 09:54

V happy picking up shares down here, thank you.