Mayan Energy Share Discussion Threads

[cashandcard] 05/3/2018 15:21

Good update, pre-commissioning system tests going well. 1,000bopd Oil sands production coming soon. A share of that revenue stream.

Excellent!


Cash

[113mike] 05/3/2018 15:19

all looking good imho

[jpfd] 05/3/2018 15:03

Update on Heavy Oil Sands Project, Utah

Mayan Energy Ltd (AIM: MYN), the AIM listed oil and gas company, is pleased to note today's update from TSX listed Petroteq Energy Inc ('Petroteq') (TSXVE: PQE OTC: PQEFF) announcing the successful completion of testing of all the major process systems at the heavy oil extraction facility in Asphalt Ridge, Utah. In addition, Petroteq has initiated test runs of the utility system ahead of the commencement of commercial production. Mayan holds a 17.6% interest in Deloro Energy LLC ('Deloro') which recently completed the first tranche of its US$10million acquisition of a 49% interest in Asphalt Ridge - see RNS dated 15 January 2018.

[113mike] 04/3/2018 15:11

by end of Q1.... 2018

[spagnolia] 04/3/2018 14:38

Anyone have an update on Block Listing:

[...]

I thought it was the 28th Feb - but moved slightly I guess...

[keya5000] 03/3/2018 09:21

It is akin to when someone gives birth talking about the new born in retirement.

Lot of growing and developing to do before decline!

[113mike] 03/3/2018 09:05

Some people eh!

[fairenough11] 03/3/2018 08:43

" Importantly, these are untreated barrels as the Company has yet to apply any of the proprietary production enhancement technologies at its disposal and therefore the Company believes initial production rates can be increased"
======================================================================================
Talking about DECLINE before Eddie has actually stimulated the wells is a bit like saying the world will end at some point.There are 200 wells or so to go at here so let's not get ahead of ourselves eh?Once we start generating cash then many things are possible with such low costs.Then there's the very impressive and large Asphalt Ridge and petroteq's patented extraction TECH.
MYN's Mckcap is around £10Million not £100Million,so a bit premature to start knocking Eddie's 100% success rate business model I would say.

[keya5000] 02/3/2018 14:27

On Target, the wells have not even been stimulated yet, how can they give those figures prior to stimulation and new perforations.

I expect the current BOPD per well will increase long before and decline starts.

[on target] 02/3/2018 14:10

Sefton was another company that used this business model by the way albeit they didn't have an asphalt ridge on the side.

[on target] 02/3/2018 14:07

The potential spanner in the works is the decline rate and the cost to repeatedly workover or stimulate them. This info hasn't yet been provided by the company as they only ever seem to give production rates from the initial 24 hours after workover/stimulation.

[highly geared] 02/3/2018 13:59

Fairenough; yes, it should be a case of steadily bring wells on line but with a leverage effect on revenue once we have sufficient production to cover Opex costs. That point should be achieved with the first 9 workovers + Asphalt contribution.
After that , the next wells will ramp up revenues/profits exponentially. All with very low risk. What’s not to like?

[fairenough11] 02/3/2018 12:39

Let's put this another way.I have never known an O&G co with such vast potential scale-up ability,without a major Oil/Gas Discovery and all the risks/cash burn that go with that.@TexasEddieG has identified a business model with low risk/cost.yet almost unlimited potential.#myn

[fairenough11] 02/3/2018 11:42

There is no doubting the potential of what Petro/Deloro/Myn are involved in at Asphalt 's a $billion market for such disruptive Tech.
#MYN mckcap £10M---LOL!

Agree.@TexasEddieG has done really well to get #MYN involved here.Asphalt Ridge looks so impressive.fair enough added,
keya5000

[piperpeter] 02/3/2018 11:03

Petroteq Video - Asphalt Ridge, Utah.



Pp.

[torp] 02/3/2018 09:48

A fair and sensible post HG.

[highly geared] 02/3/2018 07:56

Cash, Keya and Torp all make good points.

I’m taking the upside view that this is a new re engineered business and the BOD have significant skin in the game and that if the targets are met + the Deloro contribution, the shares are very cheap.

Torp makes factual points about G&A but wants to consider things in a few months when all the figures are confirmed; each to their own.

No point in making it personal as it achieves nothing in terms of making or losing money. Also, being bitter over past losses is pointless as there’s nothing you can do about it.

EG/DK will be looking for a 10 fold return on their money.... theirs and our interest are aligned so give them time (2018) to deliver...
All the best.

[fairenough11] 02/3/2018 07:52

These idiots have been moaning on an on since .4p--now .89p to buy.That's all you need to know as Eddie increases production well by well and Asphalt Ridge prepares to go big time and Block Energy listing close.
Low cost,low risk,high reward.

[gimmetheloot] 02/3/2018 05:27

Answer my question Torp!! This is MAYAN not Northcote!!


Why did you buy NCT?? Who told you buy? Those I know here had ZERO shares in NCT!!

[torp] 01/3/2018 23:08

HG - "what do you think the revenue figures will be for the next 12 months?"

No idea, best to wait to see what results are actually achieved. By which I mean real stable production not limited tests and forecasts.

[gimmetheloot] 01/3/2018 21:59

Torp i didn't invest when it was Northcote. Why did you? Who put a gun to your head and said buy or which optician gave you a pair of rose tinted glasses?

You didn't do your research did you.

[highly geared] 01/3/2018 21:43

Torp; what do you think the revenue figures will be for the next 12 months?

[keya5000] 01/3/2018 21:42

Torpy.

Last September 0.25p, now 0.89.

250% rise.

You are right it's not going anywhere.

[eye2] 01/3/2018 21:37

Meanwhile we are in breakout territory (: ENJOY the ride