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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mayan Energy Limited | MYN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.14 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.14 |
| Top Posts |
|---|
Posted at 09/8/2018 12:59 by lab rat99 He dithered getting the funding in place by the agreed schedule, breaching the agreement and allowing Petroteq to revert to issuing shares instead. Shareholders where told that the stake was independently valued at $4m, meaning Deloro total stake was valued in excess of $20m, should have been easy to attract investors.He has dithered in getting the extra leases required to increase production and in doing so has likely had to pay more due to the oil price increase and in the process wasted the best weather window for doing the workovers. Have to wonder how much time is allocated to MYN. Nine months plus and only 5 workovers completed, glacial pace and once again the lack of revenue has resulted in placings, Eddies time at the helm has putting it mildly being a disappointment and largely filled with talk and little action. |
Posted at 09/8/2018 12:35 by malctim70 49% of 1k+bobd is mega bucks and the potential was not lost on MYN bod members.Not convinced for a minute though that the deal was not completed due to Eddie's dithering If, as I suspect,it was due to lack of money, where did they plan to obtain the rest of the $10m?.....was it loans, outside investor or did they plan to bleed MYN further with another crippling placing but the falling share price prevented it.... |
Posted at 01/8/2018 08:38 by rpt_huge_reserves_upgrade If you missed RPT RNS - you could say its a stormer - Up again tomorrowIncreased P1 reseves by around 1500%!!!!! Not going to comment on the rest, have a read.... Yes that is 1500% uplift (and thats just the P1) It is hard to believe how significant this is. THe herd have not arrived yet.. Its still under the radar of most investors. Add to it 40 million USD in the bank Heading for 4,000 boepd production in the short term Just announced 24 well development programme for this huge resource. Some comments from twitter below #RPT A truly gigantic reserves upgrade for O&G holding #RegalPetroleum. About to catch a flight but am totally ecstatic by this news. Totally oustanding. 1P (proved) soar from 1.9mmboe to 27.8mmboe and a further 24 wells. Gobsmacked! investegate.co.uk/re Dont waste your time and miss the boat, this is still seriously undervalued . |
Posted at 11/7/2018 08:34 by spawny100 spagnolia - I hope you are right. I was badly burned over at IMM who were promising the moon, then had a very similar discounted fully subscribed unexpected fund raise to sticky Institutional Investors just before the p3 results came out. Everyone said well surely the institutions must know something to be buying in like that before the results. Some questioned why IMM needed to raise funds just before the p3 results if they were expected to be good but were lone voices in the crowd who, with hindsight, should have been listened to. Am not comfortable with the acquiring more wells without raising the 300-500 bopd target either - implies the exisiting wells may not be productive enough?Hope we are not in a similar boat here. Will know soon enough I guess |
Posted at 09/7/2018 15:36 by qackers PETROTEQ REACHES CORPORATE INFLECTION POINTSTUDIO CITY, CA, July 09, 2018 (GLOBE NEWSWIRE) -- Petroteq's Asphalt Ridge FacilityPetroteq Energy Inc. (“Petroteq&rdq RELATED LINKS PDF Release PDF PQE_Plant_150dpi Petroteq's Asphalt Ridge Facility Second quarter activities secured the completion of construction at the Asphalt Ridge facility, which is designed to produce 1,000 barrels per day (bod). The Company’s recent news for the first half of 2018 has been very exciting: new capital of approximately US$3.86 million to date in 2018 the placement of key technical advisors to Petroteq’s advisory board initial production. News in July is what our current and future investors will be most interested in….we are on track to initiate “full on” operations at the end of July and ramp up our production to what we expect will be 1,000 bod. On June 14th, Petroteq commenced its process train commissioning and start up with the successful completion of “first commissioning oil production” at our operations of the Phase 2 – expansion at the Asphalt Ridge heavy oil extraction facility located near Vernal, Utah, designed to produce 1,000 bod. These operational developments have driven multiple initiatives at the Company that are anticipated to help the Company grow from its current position: New research and development projects are underway which should further increase the efficiency and applicability of Petroteq’s patented extraction technology. Petroteq has staffed up its internal team and advisory board to handle multiple business development initiatives related to domestic and international opportunities. “The Asphalt Ridge project has surpassed expectations. The facility process trains are coming fully online safely, the production ramp-up plan is on schedule, and the commissioning and start-up activities are set to produce a high-quality heavy oil. We are especially appreciative of the dedication and careful planning and execution that our team and partners have demonstrated in achieving this remarkable result," said David Sealock, Chief Executive Officer. “Our investors and stakeholders can be proud of advances being made initiating the ramp-up of our production.” “The successful completion of construction and commissioning at the Asphalt Ridge project is the direct result of a well-developed and executed strategy to complete construction and accelerate commissioning using synergies between our technical team and Asphalt Ridge operations staff”, said Alex Blyumkin, Founder and Executive Chairman, “the progressive hand off from construction to operations, is expected to see a staged ramp-up of production over time. The project was built during a period of low oil prices and has come online just as oil prices have strengthened.” Following the June 14, 2018 “first commissioning oil production” of Asphalt Ridge’s first train, Petroteq anticipates operating the plant at a “ramp up capacity” by the end of July, which would prove the design capacity of 1,000 bod. At this time, the Company will be completing a two-week reliability test of the plant running in excess of 80% capacity. |
Posted at 20/6/2018 14:18 by 113mike FYI....pqe rns just released..Petroteq Energy Expands Advisory BoardSource: GlobeNe |
Posted at 10/6/2018 16:21 by brasso3 Mail on SundayAn oil and gas company that plans to become one of the biggest independent players in eastern Europe by developing a £30 million prospect in Georgia is listing on the stock exchange on Monday. Fund managers Miton Group and Amati Global are among investors who have raised £5 million funding for Block Energy through an oversubscribed share placing. The firm will list on Aim with a £10.3million valuation, after buying two oilfields near Georgia£s capital, Tbilisi. Fund managers Miton Group and Amati Global are among investors who have raised £5 million funding for Block Energy. Block Energy, chaired by Gulf Keystone non-exec Philip Dimmock, says its potential resources in the Kura basin are worth $40 million (£29.9 million). It plans to produce 900 barrels of oil per day within 18 months. Schlumberger, the blue-chip oil services company, owns neighbouring licences, which have already produced 200 million barrels of oil. |
Posted at 05/6/2018 07:54 by 113mike MAYAN ENERGY GAS MONETISATION UPDATE 5 JUN 18June 5, 2018 | Posted by adminBy Dr Michael GreenThe latest development update from Mayan Energy brought encouraging news from the Stockdale Field Discovery in Texas (60% working interest and 45% net revenue interest) concerning monetising the recent gas discovery at the Morris #1 well.Just to recap, in late April 2018, investors learnt that Mayan had identified 20? of net pay with approximately 10? of oil/condensate below a 10? gas cap at the Morris # 1 well. This was located in an additional prospective zone called the Escondido Sand formation at a depth of 4,358 to 4,776 feet which the company had been evaluating using the proprietary Quad Neutron Roke tool. At the time, Mayan had estimated 3 billion cubic feet of natural gas recoverable at a rate of around 1.3 million cubic feet per day (mmcf/d) gas plus 10-11 barrels of condensate per day.Since then, Mayan's technical team, along with input with local vendors, has determined that on-site electricity generation based on such gas volumes from the Escondido Sand formation would be the most efficient and cost-effective solution to monetising this potential. Important |
Posted at 09/5/2018 09:38 by 113mike from Align Research blog yesterday....The message that is coming through loud and clear from CEO Eddie Gonzalez is that the company has a well-defined growth path not just to the intermediate target of 300 500 bopd, but to the substantially higher levels of production in line with the longer term corporate strategy that the Board has outlined in the past. This out and out growth story is based on the Board's goal of adding 1,000 bopd each and every year. Certainly the performance over recent months revealed today ought to serve to answer the critics of Mayan that has come from certain quarters.We believe that today's announcement together with the unexpected news on the gas discovery at Stockdale per HERE revealed 2 weeks ago provides greater transparency to investors about the fast-changing fortunes of Mayan Energy. Eddie undoubtedly marked investors' cards with his share purchase less than two months ago when he bought 2.2 million shares at 0.87p. At the current price we thus remain highly positive and reiterate our Conviction Buy stance with a target price of 2.1p. We are also to interview Eddie in the next several days in order that he can elaborate on the plans for the company in the months ahead |
Posted at 19/2/2018 08:17 by fairenough11 ALIGN UPDATEMAYAN ENERGY – ALIGN UPDATE February 19, 2018 | Posted by admin By Dr Michael Green The latest update from Mayan Energy last week concerning its rising oil production was unequivocal good news for investors. The RNS seems to suggest that the 300 – 500 bopd production target is now firmly in sight. In addition, we provide some color on the valuation of Deloro Energy in anticipation of a capital raising within that entity as it moves towards the 1000 bopd production trigger. The board of Mayan was able to announce that the Gilbreath #15 well at Forest Hill Field had come on production with 51 barrels of crude oil in the first twenty-four hours. Importantly, this level of production is ahead of the company applying any of its proprietary production enhancement techniques which we expect will boost these initial rates. Mayan plans to produce Gilbreach #15 for a couple of weeks to establish baseline production before attempting to further stimulate the well. The Gilbreath #15 was the fourth in an eight well programme, where the necessary permits have been granted to complete and produce from the first six well. Permits for the remaining two in this field are expected next week. This eight well programme at Forest Hill Field is targeting 35-50 bopd per well. This news follows the announcement concerning the initiation of production at two other wells earlier on in the week. Production was initiated at Gilbreath #19 and Forest Hill Field (Mayan 70% WI, 52.5% NRI) and the Morris #1 well in Stockdale Field (Mayan 60% WI, 45% NRI). Mayan was also able to report the successful workover of the Collins well in Forest Hill Field. Gilbreath #19 was brought on line with 55 barrels of oil produced during the initial 254 hours and rates since have not disappointed whilst at the Morris #1 well, this was put on production at a rate of 24-26 bopd from the Upper Anacacho and has continued to consistently produce at this rate. As part of our analysis on Mayan Energy we have run the numbers of Deloro LLC in recent days and have accordingly updated our SOTP’s valuation. Deloro of course holds a 49% interest in the Asphalt Ridge oil sands project. We have determined a Net Present Value using a conservative 12% discount rate to a current derived value for the project and which comes out US$355.34 million. We make the point that we have also been highly conservative in this see through analysis in employing a flat WTI oil price of UIS$60 per barrel even though management have stated that they in fact anticipate obtaining a premium to WTI and the average so far this year has been in excess of $60 a barrel. Deloro’s 49% interest thus equates to US$174.12 million, and which we additionally risk by a further 25% to account for the risks associated in moving from 1,000bopd to a far larger name plate capacity. The resultant value is thus US$130.59m. In revisiting the value in Mayan Energy following this valuation we are expecting Deloro to raise circa US$7.5 million from new investors in the near term. Management are thus expecting a valuation on this entity in the range of $35-50m. Currently there are 1,986 units in issue in Deloro and taking the expected weighted average mid-point in this raise (likely in 2 tranches) produces a unit valuation approaching $20,000. This suggests that Mayan’s holding of 358 units at this still early development stage (and if the raise is successful, validating the value by third party investors) will be valued at circa $7m at this stage (a four-fold uplift). Considering that the company paid $4,300 per unit only 4 months ago this would illustrate two things. Firstly, what a cracking deal the Deloro acquisition and Asphalt Ridge project is (contrary to misinformed or biased other analysts/commentator Incorporating the expected see through valuation of Deloro reveals that approx. 0.43p of the current stock price is underpinned by this stake alone. Valuing circa 300-500 Bopd at a rump £3.5m illustrates starkly just how the market continues to apply, in our opinion, a completely wrong valuation on the stock. As management moves further towards the key 500 bopd production level and, assuming Deloro receives the third party valuation validation at the $35-50m level, we expect the market will finally re-rate the stock towards our near term price target of 2.1p. At the current price of 0.68p we thus remain highly positive as evidenced by our increased holding in recent weeks and reiterate our Conviction Buy stance. |
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