Mayan Energy Share Discussion Threads

[113mike] 13/3/2018 07:23

Purchase of just over 2m shares in Mayan Energy #MYN by Eddie Gonzales which we applaud - https://t.co/EyVoSxmY07 "Align"ment with shareholders key in small cap stocks. Sending a signal again re woeful undervaluation. One we certainly intend to heed.

[113mike] 13/3/2018 07:22

RT AlignResearch "RT keya5000: Superb news and a massive sign of confidence by a CEO whose took his salary in shares and whose options are also stretching. #MYN TexasEddieG truly aligned with his shareholders. https://t.co/i0VybyrU5x"

[spagnolia] 12/3/2018 17:49

No wonder they dropped price and kept spread tight...6m late reported trades!! Interesting times....

[highly geared] 12/3/2018 14:21

Great progress being made on multiple fronts. Petrotech leading the way but I expect our multi well workover programme to start coming together in the coming weeks as we see results from the stimulation’s and consistent bopd data. Whichever way you look at it we’re undervalued.

[cashandcard] 12/3/2018 12:19

Hopefully get an update on Amason and/or Collins well, where they stated they would employ the Quad Neutron tool to look for bypassed zones.


Cash

[spagnolia] 12/3/2018 10:31

Tight spread 1.18%!! are mm's wanting stock as they know news is due very soon....

[fairenough11] 12/3/2018 09:46

#MYN--W/O news due at FHill/Stockdale.
Asphalt Ridge--Petroteq applying their unique/patented extraction TECH--Project ongoing and Petro are not messing about here,so news anytime.Flows/cash positive/Block Energy listing,ALL TO COME.
Chart looks set to spring.Expect NEW HIGHS.

[cashandcard] 08/3/2018 14:49

Great update. High quality oil, attractive to oil refineries.



Cash

[fairenough11] 08/3/2018 14:41

Another ultra positive RNS from Petroteq(Deloro/Myn)


LSE:MYN




Mayan Share News (MYN)
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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
-0.015p -1.69% 0.87p 0.86p 0.88p 0.90p 0.855p 0.885p 7,045,613 12:32:24
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Mayan Energy Limited Update on Heavy Oil Sands Project, Utah
08/03/2018 2:15pm
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Mayan (LSE:MYN)
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Today : Thursday 8 March 2018

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RNS Number : 1610H

Mayan Energy Limited

08 March 2018

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

8 March 2018

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

Update on Heavy Oil Sands Project, Utah

Mayan Energy Ltd (AIM: MYN), the AIM listed oil and gas company, is pleased to note the following update from TSX listed Petroteq Energy Inc ('Petroteq') (TSXVE: PQE OTC: PQEFF) regarding the Asphalt Ridge heavy oil sands project, Utah. Mayan has 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.

Full Text of Petroteq's Release

PETROTEQ REPORTS RESULTS FROM INDEPENDENT EVALUATION REPORT OF OIL RESOURCES ON ITS ASPHALT RIDGE LEASES

STUDIO CITY, CA, March 08, 2018 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. ("Petroteq" or the "Company") (TSXV: PQE; OTCQX: PQEFF; Frankfurt: A2DYWC), a company focused on the development and implementation of proprietary technologies for the energy industry, today announced the filing of its third party independent detailed assay and testing resource evaluation report. The Company engaged Energy Labs of Casper, Wyoming to conduct an independent resource evaluation report on the oil that has been extracted from Petroteq's leases along Asphalt Ridge, Utah. The results of the Energy Labs assay on the oils from Petroteq's oil sands along Asphalt Ridge are consistent with the numerous studies performed on these oils by both academic institutions and major oil companies. The assay confirms that the quality of this oil is ideal for diesel fuel and has attributes attractive to oil refineries.

Mr. Blyumkin, chairman of Petroteq, said, "As we continue to make progress with the completion of our plant construction and the signing of our oil offtake agreement, we are extremely pleased with this report that confirms the quality of our oil sands assets. Oil with high levels of heavy metals has a negative impact on the life of the catalysts in oil refineries. Our oil contains low levels of asphaltenes and very low metal levels making it attractive to oil refineries."

The Asphalt Ridge oil contains a high percentage of hydrocarbons that are diesel range organics (C-10 to C-28) making this oil an ideal oil for diesel fuel. The tight shale plays that are an increasingly important source of domestic oil production typically have higher concentration of hydrocarbons in the gasoline range organics (C-6 to C-10), so are not as readily refined into diesel as they are gasoline. The disproportionate production of very light oils in the USA as opposed to heavier oils, may result in upward pricing pressures on heavy oils if this trend continues.

The Asphalt Ridge oil has very low sulfur content (0.5% and less weight percent) which is ideal for making ultra low sulfur diesel. Much higher sulfur contents are found in the oil sands in Canada, where extra money needs to be spent to remove the sulfur before it can be refined into a finished petroleum product. We do not expect to find such economic issues in the Asphalt Ridge oils. Refineries prefer as low sulfur content as possible. The Asphalt Ridge oil has relatively higher level of aromatic components, which increase the quality of the oil the products that can be produced from this oil.

[torp] 08/3/2018 12:11

Ok appreciate your views. We will have to see what transpires.

[cashandcard] 08/3/2018 11:51

Torp,


Again, going back to SC, which was legacy asset handed to them when they took over. This is what they said about shoats creek on 29th June update:


"In particular, Shoats Creek has presented many more challenges to the Company than contemplated including operational challenges at the field itself; issues associated with the operator, Shoats Creek Development, Inc. and legacy liabilities hampering its ability to perform its intended function; aspects of agreements by and between the various partners which require restructuring as well as a plan for sourcing the capital that would be required to properly develop Shoats Creek going forward"

Following that, they decided taking it forward was laced with too many operational & financial challenges. So they are looking to dispose of it when suitable.

End of that chapter.


"So I see £5.8m there raised via share issues"

You are surprised by that?

£5.8mln is (realtively speaking) a pittance in the oil E&P business. To put it into context, one of mine (RBD) just raised £7.8mln in ONE go, and they are a minnow. Another one (JOG) raised £20mln in ONE go, they were until recently a minnow too.

"Can you tell me what actual revenue has been achieved from all those £millions invested?"

No I cannot, but you can have a stab at it if you try to work it out from various updates and pricing for heavy oil blends in Texas. Better yet, why not contact management?

"Not really what I would call "low cost profile" but each to their own!"

That's because you are looking backwards, not forwards. Again, that period was mainly legacy assets and smallscale production from revenue generation at $40-50/bbl. We are now $60-$65/bbl with more production coming online with current workover programme.

Regardless, I'm giving them time to workover and place more wells onto production, some of those investments will take longer to see to fruition (Zinc ranch), but we are almost there with FH, Stockdale and Deloro. With quarterly production stats to be reported beginning end of this month.



Cash

[torp] 08/3/2018 11:20

@cashandcard

"They are pursuing a low cost profile development-stage strategy"

Let's take a look at that "low cost" profile . . .

01 Sep 2016 - £500,000 raised for Shoats Creek gas infrastructure
28 Oct 2016 - £1,250,000 raised for Shoats Creek and working capital
30 Mar 2017 - £600,000 raised for Shoats Creek and working capital
27 Apr 2017 - Massive 400-1 share consolidation
27 Jun 2017 - £587,500 raised. £300k invested in Block Energy.
08 Aug 2017 - £861,000 raised for Wilson & Wood County Fields, working cap and to pay legacy creditors
16 Nov 2017 - £2,000,000 raised. USD $1,505,000 invested in Deloro, the rest working capital.

So I see £5.8m there raised via share issues. Can you tell me what actual revenue has been achieved from all those £millions invested?

Here's a clue . . .

Last Interim Report (29 Sept 2017) stated Revenue was a paltry $53,000
Cost Of Sales was $87,000
Other Admin Expenses were $701,000

The above was for the 6 month period to 30 June 2017


Not really what I would call "low cost profile" but each to their own!

Let's hope that significant stable recurring revenues are achieved from the current activities, well workovers etc. Unfortunately we will have to wait for the next Annual Report to see what the actual finances look like. Last year's report came out end June so quite a while to wait.

[oilbuy] 08/3/2018 10:59

Sure it's even got a different name and different management.Pritty obvious.

[gimmetheloot] 08/3/2018 10:46

Torp has a problem because he lost money when the company was NCT.

MYN is a different company, different management. Different vision. Work programmes and yes the share price is buzzing!!

Magic when you fall down you rise, not stay on the floor and get kicked in the head!! Fight back and get back what you lost!!

[113mike] 08/3/2018 10:40

who says I'm ramping it? I say pos+ things about MYN, why not? I hold a substantial amount and I'm approx 25% up and very happy to continue holding thank you very much. You obviously have a problem, I don't!

[torp] 08/3/2018 10:31

@113Mike

If you held MYN and had any semblance of confidence then why would you spend your time on forums ramping it? Fooling no-one imho.

[113mike] 08/3/2018 10:14

the guy is a numpty fraud! If you held MYN why would you diss it and be so negative all the time? Sell and move on! next!

[cashandcard] 08/3/2018 09:55

Torp,


Yet again you are talking about the past trying to pretend the failed NCT had no affect on the company when it changed its name to Mayan (the NCT legacy was still there and still needed to be dealt with). Yes there was massive dilution and those invested in NCT (and even early stage Mayan after name change) lost out. I'm sorry for you guys, but this is not uncommon in the aim market with small explorers. Look at XTR in recent years, Sterling energy famously used massive consolidation and dilution, those who held shares upto that point were near totally wiped out - they would have been but the raise allowed them to fight for another day at heavily diluted positions. Similar situation to this, it needed a change in the high risk, high cost strategy, fresh money to back a new strategy, that's what has happened. They are pursuing a low cost profile development-stage strategy, not expensive risky exploration or high cost development. That is where we are now, if you do not believe in the story going forwards, I ask, what are you doing here?


Cash

[torp] 08/3/2018 09:31

@cashandcard

"Previous &/or NCT shareholders lost out massively ...yes we've heard that many times now "

Let's be clear, I was talking only about Mayan, who in their short 1.5 years here have presided over share price decimation and diluted holders to oblivion. Not talking about NCT at all. The old "it was NCT" excuse is a diversion from reality but oft used by rampers to deflect. No, it is Mayan that have diluted, 10 billion shares to equiv of 466 billion shares, not NCT. It is Mayan who have presided over the loss of some 90% of share price value since they took over. Simple fact.

"What has the decimated past share structure got to do with current operational assets?"

Common sense dictates that Mayan have to dilute for a reason so one must assess what that reason is and whether the associated factors remain in play today.

What do you see as the reasons for Mayan diluting so heavily?

[wossupsa] 08/3/2018 08:27

Great post Torp, a truly horrific investment story.

[ryan83] 08/3/2018 00:23

Torp the only abysmal thing is your deramp from 0.3 pmsl

[cashandcard] 07/3/2018 23:15

Torp,What has the decimated past share structure got to do with current operational assets? Previous &/or NCT shareholders lost out massively, ...yes we've heard that many times now - it happens, this is aim. Assess the situation and make up your mind. If you think they'll repeat that, move on.Cash

[gimmetheloot] 07/3/2018 21:47

Torp

Our valuation is less than what our investment in Petroteq is so lots more to come.

Keep buying folks