Mayan Energy Share Discussion Threads

[113mike] 20/4/2018 07:41

Yep, all looking good Imho! so much more news to come, Morris#1 well confirmation shortly!

[eye2] 20/4/2018 07:41

- FROM last RNS The Glibreath 15, 19, 48 and 49 wells have been tied in to the facilities and added to overall production on Friday, 29 March 2018. In the initial 24 hours following tie-in the wells produced 187 gross barrels of oil and approximately 30 barrels of salt water of which the Company's net production is 98 bopd
-- With these wells now producing into the fully operational production facilities, the Company's production at Forest Hill is 187 gross bopd and 98 net bopd with four additional wells to be tied in subject to completion of various work and regulatory approvals
-- The production rate achieved was better than expected, with an unstimulated 187 barrels produced during the initial 24 hours following tie-in. This will naturally decline as expected of oil and gas wells. The Company is pleased with this result, but intends to stimulate the wells in coming months
-- The Company is currently evaluating additional wells at Forest Hill that, subject to agreement with the vendors of these additional wells, will initiate Phase 2 of its work program with the intention of identifying 20-30 additional workover candidates and selecting 8-12 for its Phase 2 work program to commence in Q2 2018

[highly geared] 20/4/2018 07:38

500 Bopd x 300 days x $40 net back = $6 million profit ex G&A.
£4.25million x PER of 8= £34 million market cap. < £10 million currently....

2019 Asphalt at 425bood contribution to Mayan + direct owned wells , say 1000bopd ((conservative); market cap should be closer to £75 million.

On a 12-18 month forward projection, a steal at these prices...

[eye2] 20/4/2018 07:34

as K500 said + 190 from Forest hill , then we have ARidge. I can not keep up

[highly geared] 20/4/2018 07:31

Yes, and when we have the further 4 we’ll tie in to complete at Forrest Hills and confirmed Asphalt production ( both imminent) , this will really start to take shape. Easy to see how MYN will be at 500Bopd net within the next few weeks with further leases being acquired.

[fairenough11] 20/4/2018 07:27

Eddie's gonna blow his 300/500bopd target out of the water x $68+ a barrel.

[113mike] 20/4/2018 07:24

RNS!Think it's good...92 barrels of crude oil over a period of 6 hours from the upper Anacacho from one well alone, Morris#1 well...That's a potential of 300+ bopd is it not?correct me if I'm misinterpreting this. RNS Number : 5403LMayan Energy Limited20 April 2018Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 / Sector: Oil and Gas20 April 2018Mayan Energy Ltd ("Mayan" or "the Company")Operations Update - Stockdale FieldMayan (AIM: MYN), the AIM listed oil and gas company, is pleased to announce an update on its ongoing activities to significantly enhance production at the Morris #1 well ('the Well') at Stockdale Field, Wilson County, Texas in which the Company has a 60.0% working interest (WI) and 45.0% net revenue interest (NRI). This forms part of a multi-well low cost workover programme occurring across Mayan's portfolio of Texan assets to increase net production to 300-500bopd in the medium term.As part of its strategy to increase production at the Morris#1 well, on 13 February 2018 the Company announced its plans to acidise and commingle the Upper and Lower Anacacho formations at the Morris#1 well, which has now been completed. Furthermore, as announced on 4 April 2018, the Morris #1 well was shut whilst work on the water injection well was completed, which has now taken place (prior to this it was producing at a rate of 24-26 barrels of oil per day from the Upper Anacacho). Prior to acidising and commingling the Upper and Lower Anacacho, there was a spike in gas pressure in the Well (kick), which resulted in the recovery of 92 barrels of crude oil over a period of 6 hours from the upper AnacachoAcidisation and commingling of the Lower and Upper Anacacho zones was completed on Wednesday, 18 April 2018 and whilst work on the salt water injection well has also now been completed, the Well remains shut-in to allow it to pressurise ahead of a planned swab-test to determine appropriate downhole pump size for optimal production performance. Following this, the appropriate downhole pump will be placed on the Well. The Company will update the market once the production rate from the Morris #1 has stabilised.Eddie Gonzalez, Managing Director, said: "The solid performance of the Upper Anacacho prior to acidisation and commingling reaffirms our initial test results from the Morris #1. The acidisation and commingling operations to combine the production potential of the Lower Anacacho with the Upper went smoothly and we are eagerly anticipating results from our swab test and further production as we initiate continuous production with the downhole pump we are installing."I expect the Morris #1 to contribute materially to Mayan's daily production and cash flow and with WTI Crude Oil at better than US$68 per barrel the robust base of production we are continuing to build should perform exceptionally for the company over the next few months. I look forward to updating the market shortly on the exciting developments with the Morris #1."

[fairenough11] 20/4/2018 07:23

#MYN - Superb result.92 barrel of oil produced in 6 hours from 1 zone--Mckcap £9Million--You do the math.

[eye2] 20/4/2018 07:23

lovely RNS that's only the TOP we have a 1.5p stock here very soon

[malctim70] 20/4/2018 07:18

Good rns....strap yourselves in....

[qackers] 20/4/2018 00:10

What happened to Noli. He seemed very knowledgable.

[bigtimber1] 19/4/2018 23:15

It sounds like a giant cash machine

[piperpeter] 19/4/2018 23:01

I thought it was as simple as throwing oil sands in the top and collecting the money as it falls out the bottom.

Pp.

[bigtimber1] 19/4/2018 20:08

I will support that theory, not posted on here since having discussed old not with Noli.
What the general view here regarding the A - Ridge contribution/ Mayan's way..?
I see a pro- active diversification in revenue throughput for the company, the longevity of the plant site is impressive and I'm certainly favourable to revenues streams inbound from non- conventional operations, let's also consider that Utah is a prime attraction for multiple industries

[spawny100] 19/4/2018 16:50

One of these days Mayan is going to explode upwards with volume and take everyone by surprise.

[eye2] 19/4/2018 08:21

where's Braso?

[113mike] 18/4/2018 22:33

Thanks for the summary HG. All looking good and news must be due soon. There's the Block Energy listing also due. It was meant to be listed by end of Q1 but haven't heard anything more on that.

[highly geared] 18/4/2018 21:00

Can see WTI breaking $70 at this rate. Mayan will generate exponential profits if this holds; ramping up production will lead to a re-rate as the cash flows in. About time for an update on Asphalt as well. Timing couldn’t be better if they can deliver...at 500bopd c. 150,000 annualised at $40 net back = $6milllion . £4.4 million on a modest PER of 6= £26million market cap v <£10 million currently.

If asphalt does 5000 bopd in 2019 and prices remain elevated MYN should be doing 1000bopd equivalent within 12 months. At say 300,000 barrrels annualised with $40 net backs, $12 million or £8.25 million profit, using a similar PER= £50 milllion market cap or c5x current share price.

News is outstanding on the 4 well tie in , stimulation’s and field development.
Further progress should convince the market this is a good oil play.

[highly geared] 18/4/2018 17:10

With WTI approaching $68 now is a good time for news as every barrel produced will be netting back $35-40.
It’s disappointing there remain a big seller in the background as any rise gets quashed the same day.Need a big volume day to clear the seller once and for all...

[spawny100] 18/4/2018 14:23

Just added a few more - it wants to go up

[eye2] 18/4/2018 11:54

NT to buy want .86 for mid size

[someuwin] 18/4/2018 11:54

Looking for 2p+ before too long if thing go as planned.

[eye2] 18/4/2018 11:45

HERE we gooooooooooooooooooo

[eye2] 18/4/2018 11:37

whoes taking the last .8 ??????????????????