Mayan Energy Share Discussion Threads

[tidy 2] 14/1/2018 12:35

"That's a minimum of 1.26p for Mayan Energy"

[brasso3] 14/1/2018 01:13

It looks like at some point next week the 25 and 50 day moving average will cross the 200 days moving average. That could bring the fireworks if coupled with a positive RNS.

[graylyn1] 13/1/2018 22:27

watch from 9 mins37 secs very bullish chart here now.

[brasso3] 13/1/2018 20:54

The great thing about MYN is that we have three separate companies (including Deloro and Block) of which it only requires one of them to be successful to justify a much higher share price than today. All seem to be fairly low risk in terms of what they are looking to achieve.

[113mike] 13/1/2018 15:22

Old news but an indication of what We're in for....(no ramp intended!)Mayan Energy Limited Align Research Mayan Energy update noteSource: RNS Non-RegulatoryTIDMMYNMayan Energy Limited22 November 2017Mayan Energy - Update NoteNew Conviction Buy stance. Revised near-term price target 2.1pFollowing news on the 16(th) Nov 2017 of a GBP2m placing & investment into SPV Deloro Energy LLC, in which a 49% interest is being acquired from Petroteq in the Utah based Asphalt Ridge heavy oil prospect, we revisit our valuation model for Mayan Energy. Trading at less than 2 times our earnings estimates for FY18 the stock remains dramatically undervalued.Oil production expected to hit 500 bopd net by early summer 2018Mayan is developing shallow low-risk projects with low levels of capex and existing infrastructure in the mature oilfields of Texas/Louisiana. Management plans to add 1,000 bopd annually with the promise to shareholders of no shortage of high impact value trigger events over the next few months.New Asphalt Ridge project could add 400 bopd net within 30 monthsThe latest deal is a heavy oil play in Utah where oil sands are mined and oil extracted by a patented advanced technology invented by GBP40m market cap TSX-listed Petroteq Energy. In this deal, Mayan/partners will gain access to this technology to roll out to similar plays in Utah and worldwide.Significant increase in reserves is on the cardsMayan has fast improving fundamentals and significant inventory of new wells & reserves, which should provide a significant reserves upgrade which we anticipate will provide a material uplift in the value of the company.DCF analysis reveals an upside of almost 700%Discounting the forecast cash flows (at a conservative rate) from the workovers/new wells at the existing operations, as well as the new Asphalt Ridge project allows us to confidently increase our near term target price to 2.1p. We update coverage of Mayan Energy & move to a Conviction Buy stance.

[113mike] 13/1/2018 14:52

Yes, all looking good! imhoEddie Gonzalez, Managing Director, said: "With a programme at Asphalt Ridge to commence production of 1,000 bopd gross by February 2018, the Asphalt Ridge investment is in line with our new strategy of acquiring interests where production can be significantly enhanced by applying the advanced techniques, technologies and experience that are now available to us. Thanks to a US$269m pre-tax NPV5 best estimate, Mayan's 8.3% interest in the Asphalt Ridge project will provide significant asset backing to Mayan from the outset and we believe this will increase going forward as Asphalt Ridge production milestones are met. Together with activities across our existing asset base in Texas and Oklahoma -where we are targeting an initial increase in production of 300-500bopd (net to Mayan)- the next few months will not be short of high impact value trigger events, and I look forward to providing further updates on our progress."

[fairenough11] 13/1/2018 14:17

What a great chart.

This time next week we should be producing Oil and the cash starts to roll in,

Asphalt Ridge potential more than covers current Mckcap as we start to roll out low risk well after low risk well.

Oil at highs is a large bonus and should mean more cash thrown off to speed up the roll out meaning more cash/more wells, sooner than expected.

Bring on next week.

[adamfletcher1] 12/1/2018 23:28

I had a quote for 5.2 million. I'm holding this. Will check in about 3 months.

[grannyboy] 12/1/2018 17:24

It finished at .75 ask which is nicely primed for next week.

advfn's chart above is not working properly.

[brasso3] 12/1/2018 17:06

No. I bought back in after the placing about a month back at 0.6p. :)

I have about 0.3% of the companies stock which is plenty (maybe too much)!

[kazz] 12/1/2018 17:01

Have you bought more now Brasso, as it has closed above your .7 buying point.
Regards... Kazz

[brasso3] 12/1/2018 16:57

Not sure if it closed at 0.73p or 0.75p.

Either way its broken above 0.7p which proved a short term resistance level.

0.85p is the next one to crack on Monday...

[tidy 2] 12/1/2018 16:36

0.75 close. Nice

[brasso3] 12/1/2018 16:23

They will still quote me for 2.5m

[eye2] 12/1/2018 16:22

closed shop naughty MMS

[eye2] 12/1/2018 16:09

NT to buy ?

[tidy 2] 12/1/2018 16:05

Interactive platform is down. Calls only

[brasso3] 12/1/2018 15:58

Can still get an online quote to sell 2.5m albeit at 0.721p now.

14 day RSI still far from being overbought.

[brasso3] 12/1/2018 15:52

Agree

Its more about the proof of concept/ business model.

[cashandcard] 12/1/2018 15:50

I'm hoping for a minimum production figure of 200bopd NET to MYN from the 8 workovers. That alone should justify well above 1p value here.Cash

[brasso3] 12/1/2018 15:38

OR 8 x 35 BOPD = 350 BOPD (worst case)

[tidy 2] 12/1/2018 15:37

8 x gushers !!!

[brasso3] 12/1/2018 15:33

Market cap now at the dizzy heights of £8.5m! (Sarcasm alert)

[cashandcard] 12/1/2018 15:31

Excellent price action. Roll on the news!Cash