Mayan Energy Share Discussion Threads

[113mike] 07/6/2018 08:41

Also, more MYNs own makeover wells coming on stream all the time!Current mkt cap only £8.5m....could be making that and more every year from next year! imho..dyor etc...but it's shaping up nicely!

[113mike] 07/6/2018 07:40

Expecting the monthly ops update tomorrow or Monday. Block Energy listing Monday. AR commercial production commencing in a few weeks. Interims due end of June/July where we should start to get some indication of current financials. So much news to come!

[spawny100] 05/6/2018 12:57

That's a bit more interesting. Last shakeout maybe?

[spawny100] 05/6/2018 09:35

Lol yeah I'll keep my mouth shut as seemed to jinx it. Getting bored of waiting for the seemingly inevitable rise but certainly not selling any with all the positive newsflow.

[andinvestor1] 05/6/2018 09:16

They market makers are happy to take the stock on - you can do a sell online for 2.5 million shares at 0.718p so that's a very good sign - often you struggle to get a price for even 10% of that - I am not selling any...

[highly geared] 05/6/2018 09:07

Spoke too soon, someone still around with millions to dump so it seems....

[spawny100] 05/6/2018 08:55

Now that's an unusual pattern for MYN; start low and rising. Bodes well perhaps - just needs to keep goung now

[113mike] 05/6/2018 06:54

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. Importantly, it apparently would only require minimal additional capital expenditure too. The production of gas from the Morris #1 well is not expected to require any meaningful additional operating cost and so the incremental new revenue stream will be seen to be highly economic to the company.At the same time, Mayan is currently engaged in discussions with a number of municipal purchasers regarding a long-term contract which includes the additional gas to be unlocked at Stockdale on the back of the company's development plans. In addition, this latest announcement pointed out that the board expects that the gas will attract a premium price as it is being used to generate electricity, compared to the normal practise of selling such production to a gas gathering/marketing company as is usual practise in the US.The economics are highly compelling and, in conversation with management, we expect will help propel the company's production beyond the top end of its 300 – 500 bopd target. Mayan is looking to lease the generation equipment to convert natural gas into electricity which is expected to be at a base cost of around US$14,000 per month. The required investment to implement this plan is approximately US$50,000 which includes: generating equipment; and the re-completion of the Morris #1 well in the Escondido Sand formation along with the co-mingling of production with the upper and lower Anacacho zones. As far as timing is concerned, the required preparatory work ahead of starting to generate electricity from the Stockdale gas discovery is planned to start soon with surface work beginning in June 2018.We see this latest news from Eddie Gonzales as laying more groundwork to the creation of a highly profitable oil and gas production company. Indeed, there are another seven wells in Stockdale aside from the Morris #1 well, which are expected to be part of this gas play and could thus grow the resource further. These wells all have similar geology and are broadly expected to have the same attributes as the Morris #1 well. Management expects these to come on stream over the next couple of months. The key here is the infrastructure. Mayan has a trump card in its water disposal facility that has a capacity of 10,000 barrels of water a day, and which looks sufficient to handle up to 15 more wells like the Morris #1. In this area it is all about having the capacity to get rid of the water to produce oil at the higher rate.In recent days, there was also update news from the Asphalt Ridge heavy oil sands project, where Mayan has an 17.3% interest in Deloro Energy that has invested in this project. At that time, shareholders learnt that Asphalt Ridge was proceeding well with the facility expected to be in full commissioning and start-up operations in the second and third week of June 2018.There does seem to be so many positive developments going on at Mayan that continue to fail to be reflected in the share price. Investors really got their cards marked in mid-March 2018 when CEO Eddie Gonzalez purchased 2.2 million shares at 0.87p. With Cornhill having exercised their broker warrants and this overhang now having be sold in full, at some point the stock will have to reflect the on the ground operational progress. If it does not we would not be surprised to see a number of other companies run their slide rule over it as the economic uplift could be meaningful to many a player operating in South West of the US.At the current price we remain highly positive and continue to reiterate our Conviction Buy stance with a medium-term target price of 2.1p

[spagnolia] 04/6/2018 15:42

Looks like we finished flat?!

[cudmore] 04/6/2018 13:41

Astounding that there are more shares sold than bought today following the excellent RNS. Investors do puzzle me. At least it allowed me to top up!!

[jayj4u] 04/6/2018 09:01

Nice drop! Thank you MM you guys are awesome! I WILL BE BUYING MORE!!! THANK YOU!!

[cudmore] 04/6/2018 08:58

Mm’s playing games to suck out the weak. Great opportunity to top up. Anyone selling these today is off their rocker! They clearly haven’t read the RNS properly.

[on target] 04/6/2018 08:43

Surprised to see this down. According to the RNS this gas can be produced at basically zero cost, hence the resulting revenue is pure profit.

[tsmith2] 04/6/2018 08:42

0.6p on chart

[tsmith2] 04/6/2018 08:41

Watch the puffery for now very decent overhang remains and number ain't at all spectacular

[113mike] 04/6/2018 07:27

Should get a monthly ops update later this week and AR news. Block Energy listing next Monday.All looking good imho

[cudmore] 04/6/2018 06:50

Great RNS. I’ve been going on about these for weeks now. Hope those who were sitting on the sidelines ‘thinking about it’ got on board. These are going to soar northwards. GLA

[brasso3] 04/6/2018 06:42

The more significant point is that the Stockdale license is clearly going to be worth a lot to MYN.

[tsmith2] 04/6/2018 06:38

But for this45.0% net revenue interest (NRI) in the Stockdale Field.

[113mike] 04/6/2018 06:31

From another BB#MYN 1.3m cubic feet of gas per day is equivalent to 223 bopd. Add 10 barrels of condensate. Then factor in selling it at a premium. At a conservative $40 per barrel netback this discovery alone is worth $3.5m per annum net profit to the company

[tidy 2] 04/6/2018 06:23

60% of 3bcf. I could fart more lol.

[113mike] 04/6/2018 06:20

Wakey Wakey!More good news released this morning!Mayan Energy Limited Update on Gas Discovery at Stockdale Field, TexasSource: UK Regulatory (RNS & others)TIDMMYNRNS Number : 0960QMayan Energy Limited04 June 2018Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 / Sector: Oil and Gas4 June 2018Mayan Energy Ltd ("Mayan" or "the Company")Development Update from Stockdale Field Gas Discovery, TexasMayan Energy, the AIM listed oil and gas company, is pleased to announce its plans for the development of the gas discovery at the Morris #1 well at Stockdale Field, Wilson County, Texas (see announcement dated 26 April 2018). The Company has a 60.0% working interest (WI) and 45.0% net revenue interest (NRI) in the Stockdale Field.-- Following evaluation by Mayan's technical team and consultation with local vendors, the Company has determined that on-site generation of electricity using gas volumes from the Escondido Sand formation is the most efficient and cost-effective course of action, requiring minimal additional capital expenditure-- Initial production rate from this gas resource is anticipated to be significant and the Company believes that a sustainable rate of approximately 1.3 million cubic feet per day gas and 10-11 barrels of condensate per day is achievable with potential for further upside-- A total of 20' of net pay estimated to contain 3 billion cubic feet of natural gas is considered to be recoverable (see announcement dated 26 April 2018)-- Mayan is currently engaged in discussions with several municipal purchasers regarding a long-term contract including addition gas anticipated to be unlocked at the Stockdale Field as a result of the Company's planned development plans-- The Company expects to realise pricing that will yield a premium to the spot price of the natural gas used to generate electricity if it were sold to a gas gathering / marketing company as is common practice in the United States-- The production of this gas from the Morris #1 well will not generate any meaningful additional operating cost so this is exercise is expected to be highly economic-- Necessary preparatory work needed to commence the generation of electricity from the natural gas discovery set to commence shortly; the Company shall update the market following commencement of production and any further material updatesEddie Gonzalez, Managing Director, said, "The monetisation of the gas discovery at the Morris #1 Well at the Stockdale Field is a bonus for the Company and the associated net revenue is expected to result in a rapid payback on investment. With further development work planned across the field, we are optimistic of further upside and view this is as an excellent opportunity to create an additional revenue stream".The Escondido Sand formation, from 4358'to 4776' (feet) was identified using the Company's proprietary Quad Neutron Roke tool on the Morris #1 well. A total of 20' of net pay estimated to contain 3 billion cubic feet of natural gas is considered to be recoverable. The Company intends to generate electricity on site using gas volumes from the Escondido Sand formation to power a generator that will then be able to tie-in with and sell power to the electric grid.The Company has determined that the generation equipment necessary to convert the natural gas to electricity is available on a lease basis on terms favorable to the Company with a base monthly cost of approximately US$14,000. The investment required to implement this plan is limited to approximately US$50,000.00 including permitting; generating equipment; and the re-completion of the Morris #1 well in the Escondido Sand formation including the co-mingling of production with the upper and lower Anacacho zones.The Company anticipates surface work will commence in June 2018 following which the Company will arrange for delivery of the necessary generating equipment and coordinate with the electric company to tie-in the generator to the electric power lines. Once the Company knows when the generator and tie-in will be completed, it will schedule the workover rig to perform the downhole work necessary to initiate production and will update the market further as developments necessitate.

[113mike] 01/6/2018 21:54

Topped up a few times today...Lots of exciting news to come in the next few weeks. No ramp intended but it does look good!

[malctim70] 01/6/2018 21:33

Gotta be Mike....must have taken many days to find buyers but would explain the days when buys heavily outnumbered sells but share price unmoved or dropped...