Mayan Energy Share Discussion Threads

[grannyboy] 15/1/2018 08:15

All going to plan..and hopefully should be an update tomorow?!!!

[tidy 2] 15/1/2018 08:11

Pushing through the 200DMA now.

[brasso3] 15/1/2018 08:10

Buys at 0.795p

[tidy 2] 15/1/2018 07:59

Wow. Nice. This is the start of the busy news period.

[fairenough11] 15/1/2018 07:47

"General increases in oil prices now imply Netbacks (oil sales net of royalties, production and transportation expenses) of US$35+ per barrel- compared with US$15-20 reported in November 2016

-- Asphalt Ridge has 87 Million Stock Tank Barrels ("STB") contingent resource in place and a defined development plan to produce 5,000+ bopd by 2019"

[jungmana] 15/1/2018 07:40

Good rns there on asphalt Ridge. All on track with this exciting project.

[fairenough11] 15/1/2018 07:40

Align Research
‏

@AlignResearch
3m3 minutes ago
More
Ref Mayan Energy #MYN - Key line - ""General increases in oil prices now imply Netbacks (oil sales net of royalties, production and transportation expenses) of US$35+ per barrel- compared with US$15-20 reported in November 2016". Looking to take out highs of nr 1p in wks ahead.

0 replies 1 retweet 0 likes
Reply Retweeted 1 Like Direct message

Align Research
‏

@AlignResearch
3m3 minutes ago
More
News ref Asphalt Ridge/Deloro at Mayan Energy #MYN doesnt really get any better this morn - … Note NPV based on WTI of $54 v current $64. Progress on schedule. Remain v happy holders.

[fairenough11] 15/1/2018 07:35

LSE:MYN
OKSearch




Mayan Share News (MYN)
1
Follow MYN
Share Name Share Symbol Market Type Share ISIN Share Description
Mayan LSE:MYN London Ordinary Share VGG5S26K1152 ORD NPV (DI)
Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
+0.00p +0.00% 0.75p 0.70p 0.75p - - - 0 06:41:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.2 -5.8 -0.0 - 8.75
Print
Alert
Mayan Energy Limited Asphalt Ridge Update
15/01/2018 7:30am
UK Regulatory (RNS & others)

Mayan (LSE:MYN)
Intraday Stock Chart
Today : Monday 15 January 2018

Click Here for more Mayan Charts.
TIDMMYN

RNS Number : 8395B

Mayan Energy Limited

15 January 2018

Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 / Sector: Oil and Gas

15 January 2018

Mayan Energy Ltd ('Mayan' or 'the Company')

Update on investment in Deloro and Utah Heavy Oil Sands Project

Mayan Energy Ltd (AIM: MYN), the AIM listed oil and gas company, is pleased to provide an update on the Asphalt Ridge Project ('Asphalt Ridge') a heavy oil sands deposit being developed by TSX listed Petroteq Energy Inc ('Petroteq') (TSXVE:PQE OTC:PQEFF) in Utah, USA - see RNS dated 16 November 2017.

Highlights:

-- Deloro Energy LLC ('Deloro') in which Mayan has a 17.6% interest, has completed the first US$2.5m tranche of its US$10million acquisition of a 49% interest in Asphalt Ridge. The Asphalt Ridge Project is currently owned by TSX listed Petroteq Energy Inc ('Petroteq') (TSXVE:PQE OTC:PQEFF)

-- Completion of the first tranche investment entitles Deloro to a 25% economic royalty from the Asphalt Ridge Project

-- All building and construction permits associated with the 1,000-barrel oil per day ("bopd") oil extraction process facility at Asphalt Ridge have been granted

-- Construction progress update report provided by Petroteq on January 11, 2018 confirmed:
o Foundation work is completed

o Assembly of the main structure has commenced with vertical columns in place

o Trucking of oil heater, pipe valves and various pumps will shall begin week of January 15(th.)

o Rocky Mountain Power has been engaged to determine the power upgrade to deliver power to site

o The distillation column & trays are being fabricated off site for delivery at the end of January

o Images of site progress may be viewed on www.mayanenergy.co.uk

-- Completion of testing and analysis of the oil product has indicated a high range of diesel organics & low sulphur levels, which is anticipated to drive demand for the oil and resulting in a tighter pricing and possible premium West Texas Intermediate ("WTI")

-- Petroteq announced "Notices of Allowance" from both the United States and the Canadian Patent and Trade Mark and Intellectual Property offices in respect of its heavy oil sand extraction processes, this is a further step in protecting its proprietary rights to its heavy oil extraction technology

-- General increases in oil prices now imply Netbacks (oil sales net of royalties, production and transportation expenses) of US$35+ per barrel- compared with US$15-20 reported in November 2016

-- Asphalt Ridge has 87 Million Stock Tank Barrels ("STB") contingent resource in place and a defined development plan to produce 5,000+ bopd by 2019

-- Petroteq, Deloro, Mayan and institutional investors are to visit Asphalt Ridge on 16(th) January 2018

Mayan CEO Eddie Gonzalez said: "We believe that the Asphalt Ridge project is going to be an excellent example of an investment which is low-risk, but with the potential to deliver highly attractive returns. As we re-optimise Mayan's business model: focussing on increasing production in Texas and becoming cash positive in the short term, we are also considering strategic investment opportunities. We are more than satisfied that Deloro's agreement to acquire a 49% stake in the Asphalt Ridge Project is progressing in a timely manner, and that developments on-site remain on target. All indicators point towards the 1,000 bopd plant being commissioned in February 2018; propitious given the increasing demand for the oil produced. Additionally, through Deloro, Mayan will have access to Petroteq's proprietary technology and we hope in due course to be able to roll this out to similar oil sand plays in Utah and elsewhere. We will be on site in Utah next week to meet with Petroteq CEO, Aleksandr Blyumkin, his operations team and a group of institutional investors to inspect progress at the plant and to discuss future funding options and expansion."

The Asphalt Ridge project is the core asset of Petroteq (mkt. cap US$72 million). It has 87 Million Stock Tank Barrels ("STB") contingent resource in place and a defined development plan to produce 5,000+ bopd by 2019. Deloro's development agreement and alliance with Petroteq has enabled Mayan to gain exposure to the Project and is consistent with Mayan's strategy of completing key acquisitions and investments in highly prospective onshore oil and gas opportunities to generate value to shareholders.

Mayan currently has a 17.6% interest in Deloro, which is acquiring 49% of Asphalt Ridge. Petroteq has a defined development plan in place, with work underway to construct a plant that has an initial production target of 1,000 barrels of oil per day by February 2018. This will utilise Petroteq's patented process technology that unlocks heavy oil without generating greenhouse gases or waste. Analysis of the end product has indicated a high range of diesel organics as well as low sulphur or any other contaminants. This is encouraging as there is high demand for low sulphur diesel from the trucking and shipping industries. The process is proven by Petroteq who produced and sold 10,000 barrels of oil in 2015 using this technology at its first facility in Maeser, Utah.

The incremental rises of production to 2,500 bopd and 5,000 bopd are expected to be largely funded through debt. Importantly, six months of continuous production at 1,000 bopd triggers an upgrade of a materially significant portion of the existing 87 MMSTB Contingent resources to P1/P2 reserves. It is anticipated that all in costs will be US$18-25 per barrel ("Bbl") and therefore expected to generate netback margins of US$20-27 per Bbl (at US$45 Bbl oil). With WTI currently trading at US$63, the Board believes the Project economics have potential to improve significantly.

Overall, the Asphalt Ridge project offers attractive economics and net present values. The below summary NPV values are for 100% of Asphalt Ridge and have been calculated by Chapman Petroleum Engineering Ltd ("Chapman") at a 10% discount to WTI US$54 oil price. It should also be noted that Chapman have assumed a US$10,500,000 capital commitment into their modelling for the completion of the 1,000 plant which is already funded.

[keya5000] 14/1/2018 22:09

And another one turns up....

[gazza102] 14/1/2018 22:03

Well if people had listen to magic they could have saved a lot of money. Hes right placings due soon with a sure sign as the rampers are out.

[tidy 2] 14/1/2018 22:01

Ah the sad disgruntled loser. Thgt so.

[eye2] 14/1/2018 22:01

Torp is known for it his paid by you know who ,,,...

[keya5000] 14/1/2018 20:35

All going well.

[novicetrade68] 14/1/2018 20:33

Aren't you always warning about imminent dilution to hit the market on this thread Torp, I noticed the same on the RRR/RGM threads...any reason why this always seem to be the common denominator in your posts?

[torp] 14/1/2018 19:34

@Tidy

All sounds very reminiscent of Shoats Creek. Lot's of speculation and anticipation for production rates. Oil was going to be gushing from multiple wells, and then there was the gas too !

How did that all go???

Mayan now keen to get out of there altogether.

I'm surprised many buy this forward speculative nonsense any more.
All Mayan seem to do is issue shares, creating money out of thin air. It's good business . . . . at least for the BODs and placees !

When there are some decent actual results, then people like myself will look at it differently. Until then, I'm just waiting for the next placing to drop.

[tidy 2] 14/1/2018 19:05

If you want a fully proved up stock with all permits in place in the mining sector that has not diluted in 7 years due to Glencore being their 50/50 partner, spending $350m for the pleasure then stick some ZIOC in your PF. They have been primed for China to buy their stake allowing one of the largest mines in the world to go ahead. Serious is worth a couple of quid. OT soz

[tidy 2] 14/1/2018 16:53

Torp in order to get to where they are now they couldn't do it with fresh air. It's reward time. 8 weeks 8 flow rates. Timing it's all about timing. Flows of the 8 week WO programme starts this week. Then we reassess.

[torp] 14/1/2018 16:44

@Jungmana

"If you live on mars let me tell you they just had one a few weeks back. Cant see another one in coming 4 week's."

This statement highlights either a total lack of understanding of Mayan's short history or a blatant attempt to mislead.

Mayan have done little but engage in heavy dilution since they came on-board and anyone who doesn't do their research in relation to this will surely come a cropper imho.

A selection of their dilutive antics:

27 June - 255m issued at 0.3p taking total issue from 82m to a colossal 338m

6 weeks later

08 Aug - 287m more issued at 0.3p

4 weeks later

06 Sep - 23m more issued

6 weeks later

16 Oct - 83m more issued

4 weeks later

16 Nov - 432m more issued


As can be seen from the above, 4-6 weeks looks to be a fairly regular period inbetween placings.

We are therefore most certainly well in the time frame for the next placing, in fact on the 4-6 week basis we are now overdue !

This endless issuing of confetti is why the MCAP is where it is.

Increased board ramping is usually the firm signal that the next placing is on its way imho.

[grannyboy] 14/1/2018 14:23

Looking forward to the next few weeks...should be plenty of news flow to help keep chewing the cud going...

And the breakout in the charts last week augars well for further share price appreciation!!!!

[keya5000] 14/1/2018 13:53

Gazza you tool no placing coming here, had that from a source who should know.

[113mike] 14/1/2018 13:46

deramper that is!

[113mike] 14/1/2018 13:45

there is a dreamer in our midst!

[jungmana] 14/1/2018 13:15

Lol! If you live on mars let me tell you they just had one a few weeks back. Cant see another one in coming 4 week's.

[gazza102] 14/1/2018 12:42

Until they do a placing which is due any time soon.

[jungmana] 14/1/2018 12:37

Chart says minimum 1.26p in the short term. Maximum 2p? Who knows