Mayan Energy Share Discussion Threads

[cashandcard] 28/2/2018 11:13

Saw this on lse;




Cash

[cashandcard] 28/2/2018 09:16

Good start, un update must be imminent on FH operations, particularly Amason and Collins.


Cash

[eye2] 28/2/2018 09:10

.96 for size 250k offer .93 going one way that 1.2p

[highly geared] 28/2/2018 08:28

More news very shortly on the final 2 wells of the current programme + further news on established flow rates and well stimulation’s. March will be busy..

[eye2] 27/2/2018 22:02

3.7 mill buy delayed from 26 th Feb 9 am

[highly geared] 27/2/2018 15:22

Cash; good posts- Mayan building up a portfolio of highly profitable producing wells at a fraction of the cost of other oilers with < 6 month paybacks.
Wake me up when we’re at £25 millions market cap when we can start to consider a fair market valuation....

[eye2] 27/2/2018 15:02

RNS on the way

[cashandcard] 27/2/2018 14:59

HG,


Agreed, no expensive high-risk exploration here. Just going back to where the oil has already been discovered in good old Texas, doing well workovers and stimulations to grow the bopd run-rate. Cheap as it gets really, a workover at $25-30,000 each achieving 35-50bopd. Current 8 well campaign with proper quarterly oil production statistics to be reported from end of March, love it!

I think it was a very wise decision to cut away from the expensive and problematic Shoats Creek field and focus on the cheap and cheerful wells at Forest Hill and Stockdale, with Asphalt Ridge oil sands production not far off aswell. Lots to look forward to this year.


Cash

[highly geared] 27/2/2018 14:54

Block Energy is a very small part of Mayan, so unconcerned by listing timetable.Mayan will do very well on its own; Block will be a subsidiary bonus..
Looks like we’re breaking out nicely....

[mkmmkm1] 27/2/2018 13:52

If only it were going to! Needs admission docs and a whole host of resolutions first. No fixed date yet despite the date on main LSE website

[spagnolia] 27/2/2018 12:24

Block lists tomorrow

[piperpeter] 27/2/2018 12:22

Is there a date set yet for Block Energy's Admission to AIM?

Pp.

[cashandcard] 27/2/2018 11:54

Block Energy, the exploration and production company focused on the Republic of Georgia, is pleased to announce the completion of the sale of the entire issued and to be issued share capital of Antubia Resources Limited (‘Antubia&rsquo;) for US$600,000 in cash (‘the Sale’). Antubia holds the Asheba Gold concession in Kedadwen, Ghana. The Sale is in line with the Company’s strategy to focus on its portfolio of low cost / high impact oil and gas development assets in the prolific Kura basin, which at its peak produced approximately 70,000bopd in the Republic of Georgia and is estimated to hold over 7 billion barrels of proven reserves in Azerbaijan and North Caucasus (Russia).

As announced on 12 September 2017, the Sale follows the signing of a Sale and Purchase Agreement with Star Goldfields Limited, a private Ghanaian mining company wholly owned by HODA Holdings, a Ghanaian conglomerate. The proceeds of the Sale will be invested in the development of the Company’s assets in Georgia, all of which are proven fields that are either currently producing or have historically produced and which have significant development potential.

Paul Haywood, Director of Block Energy, said, "Following the sale of Antubia, Block Energy is an asset backed, revenue generative junior oil and gas company focused on the Republic of Georgia: asset-backed as demonstrated by a recent CPR which estimated our assets hold net proven oil reserves of 1.5 million barrels and 2C contingent resources of 60m barrels of oil and 450BCF of gas; and revenue generative thanks to our existing low cost production of 20-30bopd which covers our operating expenses at the field level. Georgia is a proven but underdeveloped oil producing nation and, following our planned Admission to AIM, we intend to capitalise on our first mover advantage to build Block Energy into the largest independent producer in the country.”

[cashandcard] 27/2/2018 11:38

Highly-Geared,


With the costs so low on W/O, I'd expect payback much faster, in a couple of months. I am intrigued by the presence of the Sub-Clarkesville at FH, a small but reliable producer, prolific throughout those counties. I imagine they would be looking to acquire more leases in the vicinity.


Cash

[highly geared] 27/2/2018 11:34

Jungmana; agreed and with Asphalt shortly to start pumping 1000 Bopd, that’s c 25,000-30,000 barrels annualised to Mayan. That will net c $1 million profit in year 1. If Asphalt ramps to 5000 Bopd in 2019, the numbers start to look ridiculous and 3p/share will be a given within 12 months and with virtually zero risk.

[jungmana] 27/2/2018 09:45

All going well 3p is a realistic 12 months target :-)

[highly geared] 27/2/2018 08:25

The other point is the well economics, at c $25,000 per workover and averaging 50bopd, 15,000 barrels / annum at $30 netback means a c. 6-8 month payback....

[highly geared] 27/2/2018 08:22

Eye, I reckon up to 20%. Doesn’t sound much but if we can squeeze say another 100 Bopd out of the first 8-9 that’s another 30,000-35,000 per annum which at c $30 net back is another $1 million profit...

[eye2] 27/2/2018 08:20

HG any thoughts of how much % wise oil could increase? roughly of course (:

[highly geared] 27/2/2018 08:20

I’d also expect announcement of the next batch of wells to workover in April once the first 8-9 we’ll programme is complete and established.
If, by mid year , we’re up to 16 wells averaging 50 Bopd, then with a c. 50% NRI , that gets us to 400 Bopd. With asphalt initially at 1000 Bopd, that gets our o/a near 500 Bopd.
Say 150,000 barrels annualised at say $30 net back is approaching $5million profit. What’s our market cap again?

[highly geared] 27/2/2018 08:15

113Mike - hopefully a break out to get us above 1p and toward £15-20 million market cap. March should give us some consistent flow rates but it will be interesting to see what they can achieve with the stimulation’s, if they significantly increase flow rates then the wells become very attractive...

[highly geared] 27/2/2018 08:12

Been voted down; that’s interesting wonder why?
MYN shaping up to be a great recovery play on a low risk high reward business strategy with the CEO having serious skin in the game.
A lot to like here , big rewards to be made by sticking around for 12-18 months as more wells are brought on line and revenues ramp up. Asphalt underpins everything,so a no brainier at these levels. Good analysis from Align Research provides substance to the views.

[113mike] 27/2/2018 08:09

what happens next?

[eye2] 27/2/2018 08:08

I'm looking foe Woos anyone seen him?????? no stock yet again, that 2.1 mill took out this level