Mayan Energy Share Discussion Threads

[highly geared] 26/2/2018 18:51

Decent sized buy for a retail investor. On the brink of a breakout but probably needs on going news to push it through.

Looking forward to late March when we'll see the initial sustained flow rates but in the meantime there maybe positives as we receive data on how effective the stimulations are.

[eye2] 26/2/2018 18:02

PRICED AT 15.44

[eye2] 26/2/2018 17:57

2.1 mill delayed buy .87.5

[highly geared] 26/2/2018 13:19

Agreed; just above the upper resistance line of the recent highs. Will be very bullish if we hold at these levels and MYN issue another positive update this week.Edit: spoke too soon 😂

[highly geared] 26/2/2018 12:02

From the Align Research January research note:

Our sum of the parts valuation for Mayan Energy has increased to £65.45 million and which suggests a price of 4.79p per shares on a fully diluted basis (post the option awards this morn) per the table below:

We make the point that the risked NPV of 4.79p compares with a current stock price of 0.81p and thus there remains a very material disjoint to the fundamental value that we see within Mayan’s portfolio relative to the current market price. In effect the remainder of the company’s portfolio (including Stockdale, Forest Hill & Zink Ranch fields) are being ascribed large negative values which to us makes no sense given the progress that is being made towards production. We deem the Asphalt Ridge stake alone to be worth 1.55p per share (fully diluted again) – near twice the current stock price.

At the current price of 0.81p we remain highly positive on Mayan Energy and reiterate our 2.1p near term price target.

[fairenough11] 26/2/2018 10:16

#myn --Is that a breakout I see up ahead?
More W/O news at Forest Hills,flows,total flows etc.
new zones news at wells at FHill.
Asphalt Ridge progress.
New Tech breakthroughs,clean Oil extraction etc.
Block Energy stake,launch etc.
With cash inflows news on W/O expansion plans.
======================================================================================Hope that's a BOWL FORMATION starting on the LT chart.
With Oil Price still rising,sky's the limit here at MYN.

IMO.

[highly geared] 26/2/2018 09:27

Very close to breaking out; need to finish and hold at 0.83p and things will get interesting chart wise. Based on the assets and progress to date , £15-20 million market cap will represent fair value...

[fairenough11] 26/2/2018 08:00

HG,

Agreed.

Once cash is been thrown off these initial wells Eddie repeats and repeats.Love the business plan.

No Political RISK and no chance of DUSTERS---O&G heaven imo.

[highly geared] 26/2/2018 07:50

Fairenough11; that’s the point here, virtually no risk , the oil is there and extraction costs are ultra low. With the new technologies available each well becomes highly economic and pay back times very short. You then get several years of essentially free cash flow due to low lifting costs.
Hopefully, we’ll see an exponential effect later this year when we see 20-30 producing wells , the effects of stimulation and a building assset in Asphalt.
The only downside is POO but at $50_65 range, Mayan is profitable.
A great risk reward play.
The market needs to forget the ‘old’ Mayan where the previous disaster of a CEO ruined us with the failed strategy and dilution, this is a new business with a very clear and effective strategy that will reward shareholders.

[fairenough11] 25/2/2018 09:16

........and all for a Mckcap of £7/£8Million--Incredible.

#myn - We are looking at ever increasing production with the wildcard of limitless potential at Asphalt Ridge with no possibility of dusters. I can't think of anything better for a Mcktcap around £7/£8million

[highly geared] 23/2/2018 14:14

... and , within 12-18 months , 400+ Bopd contribution from Asphalt ridge for just sitting there. Really good 2 year risk/ reward play...

[highly geared] 23/2/2018 14:12

The number of available leases mean that they will soon be able to use positive cash flow to fund an ongoing workover programme that will deliver exponential oil production and revenue growth at minimal risk....

[highly geared] 23/2/2018 14:09

Summary:
Gilbreath #15 - 51 Bopd
Gilbreath #19 - 55 Bopd
Amason #1 - 72 Bopd ( interpreted)
Gilbreath #48 - 36 Bopd ( interpreted)
Morris #1 - 25 Bopd
Collins - TBC
2 others - TBC
So 239 Bopd confirmed from 5 wells , pre - stimulation. Assuming an average of 48 Bopd from the 3 remaining, this will provide 383 Bopd.
Assuming 20% upside post stimulation, this gives 460Bopd gross from the first 8 wells. 160,000 annual production at $30 net back is nearly $5 million operating profit from these low cost proven oil assets.
Absolute no brainer.....

[wossupsa] 23/2/2018 10:11

jayj4u, 2 shares or more will need a phone call mate! Yet another RNS and you know what else by now! Desperate stuff?

[113mike] 23/2/2018 09:50

let's keep this MYN!

[bionictwat] 23/2/2018 09:37

Zioc about to go higher, pending news with Glencore any day and it's past 30p GET IN NOW

[jayj4u] 23/2/2018 08:29

I put a nice BIG BUY order in the market with IG. If its dips slightly I will get a fill!

Anyone wants to sell!!! PLEASE...PLEASE....DO IT!!! DO IT!!! I NEED MORE STOCK!!!

[cashandcard] 23/2/2018 08:20

Highly Geared, #2287


Great summation. Another good update, confident we'll here about FH or Stockdale nextweek.



Cash

[113mike] 23/2/2018 08:16

Awesome! what's not to like?

[nicosevos] 23/2/2018 08:13

Looking good......
gla

[jayj4u] 23/2/2018 08:00

Awesome Management! They do what the say!!! This is very important if we want to win the trust of new investors! Eddie is pushing news on weekly basis! We couldn't ask for anymore. Now it's just waiting game!


MM CANT KEEP THE PRICE DOWN FOREVER!!!!!

We are pleased to note that the 1,000bopd plant at Asphalt Ridge remains on schedule to be commissioned later this quarter. At current oil prices, production at Asphalt Ridge is estimated to generate netbacks of c.US$35+ per barrel net of royalties, production and transportation expenses. With this in mind, I look forward to providing further updates on progress at Asphalt Ridge, as well as on our operations in Texas where we are homing in on our medium-term target to increase net production to 300-500bopd.

[113mike] 23/2/2018 07:54

Thanks..Good summing up there. All looking good imho..it's onwards and upwards!

[highly geared] 23/2/2018 07:47

Think ahead to 2019 and presuming asphalt is at 5000bopd, Myn share will be 400+ bopd. Add their own portfolio , developed in 2019, and we’ll be 1000+ bopd net.
At 350,000 annualised and with $30 net back,that’s over $10 million operating profit across low risk assets.
Yes, it’s all about delivery but no wild cat / exploratory drilling with big drill costs, this is low risk multi well workovers of established oil fields.
If Mayan deliver £7 million profit within 2 years , the market cap should be in the £50-100 million range. Still all to prove and with a chequered history the market will want to see more delivery before it re rates but the early stages look highly promising...

[113mike] 23/2/2018 07:35

yep, but think it will need to be demonstrated first before any rerate happens. Hopefully it's not too far away now!