Mayan Energy Limited Ord Npv Di

MYN: 0.68 0.03 (▲3.79%)

Delayed:2018-02-16 16:57:20
Bid Price 0.67 High Price 0.71
Ask Price 0.70 Low Price 0.66
Open Price 0.67 Spread 4.38%
Prev Close 0.69 Volume 7,148,740.00

Mayan Energy Limited Ord Npv Di Share Price Chart

Intraday

Historic - 1 year


Mayan Energy Limited Ord Npv Di Share Price Information

Name Mayan Energy Limited Ord Npv Di Epic MYN
Sector Oil & Gas Producers ISIN VGG5S26K1152
Activites Mayan Energy (formerly Northcote Energy Ltd) is an AIM listed (London Stock Exchange) oil and gas energy company; whose present operations which are focussed on the redevelopment and enhancement of its upstream oil and gas interests in Texas, Oklahoma, and Louisiana and its investments in the Asphalt Ridge Project Utah, and in Block Energy Plc, Georgia. Security Type Equity

Key numbers

Latest Share Price (p) 0.69 Net Gearing (%) 101.00
Market Cap (£m) 7.12 Gross Gearing (%) 105.99
Shares in issue (m) 1,166.34 Debt Ratio 313.79
P/E Ratio -10.17 Debt-to-Equity Ratio 0.08
Divs per share (p) 0.00 Assets / Equity Ratio -16.70
Dividend Yield (%) 0.00 Price to book value -37.47
Dividend Cover 0.00 SROCE (%) -7944.44
Earning per share (p) -0.06 EPS Growth (%) 50.00
52-week high / low (p) 1.88 / 0.01 DPS Growth (%)

Mayan Energy Limited Ord Npv Di Broker Views

Date Broker Rec. Price Old target price New target price Notes
22 Nov Align Research Buy 0.68 2.10 Upgrades

Mayan Energy Limited Ord Npv Di Director Deals


Mayan Energy Limited Ord Npv Di Company News

Mayan Energy achieves strong initial flow rate at Forest Hill

Mayan, the AIM listed oil and gas company, has reported that the Gilbreath #15 well at Forest Hill Field, Wood County, Texas managed to produce 51 barrels of crude oil in the first 24 hours of operation.

These are untreated barrels as the company has yet to apply any of the proprietary production enhancement technologies at its disposal. Mayan believes initial production rates can be increased.

Mayan intends to produce Gilbreath#15 for several weeks to establish a production baseline before attempting to further stimulate the well.

The company continues to make steady progress in the eight well workover programme underway at Forest Hill and total of nine wells to be worked over (including the Morris #1 at Stockdale) on its Texas assets. The Gilbreath #48, the fourth of eight wells to be worked over at Forest Hill Field (and fifth of nine total wells overall), is now rigged up.

Mayan has now received permits and approvals necessary to complete and start producing six of the eight wells in its Forest Hill workover programme with the last two expected in the next week.

Eddie Gonzalez, managing director, said: "Now that we have received the necessary permits and approvals for six of the eight wells we are working over at Forest Hill Field, with the remaining two expected near term, we plan to complete the work programme in short order and in the process take a major step towards achieving our 300-500bopd production target.

"The company is in a position financially to complete this programme with current resources and cash flow available. In addition, we are pleased that actual costs are running significantly less than the budgeted US$30,000 per well we planned to spend."


At 9:48am:

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(LON:MYN) Mayan Energy Limited Ord Npv Di share price was +0.1p at 0.71p

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Story provided by StockMarketWire.com

Mayan Energy starts producing oil from two Texas wells

Mayan Energy said production had commenced at two wells in Texas as the company continues to target net output of 300-500 barrels of oil per day in the medium term.

The Gilbreath Number 19 well at the Forest Hill field in Wood county was brought on line with 55 barrels of oil produced during the initial 24 hours of operation. Production was expected to stabilise at those levels, the company said.

The Morris Number 1 well at the Stockdale Field in Wilson county was put on production at a rate of 24-26 barrels of oil per day.

'The workover programme is gaining momentum and we are now seeing the first of multiple wells across our diversified Texas-focused asset base entering full-time production at rates consistent with our expectations,' chief executive Eddie Gonzalez said.

'We are in the process of lease acquisition and planning is underway and we will have more to say about the next leg of our production growth strategy as the initial workover programme draws towards completion.'


At 8:21am: (LON:MYN) Mayan Energy Limited Ord Npv Di share price was +0.09p at 0.68p



Story provided by StockMarketWire.com

Mayan Energy completes workover at Forest Hill

Mayan Energy has completed the workover of the Amason#1 Well at the Forest Hill Field, Wood County, Texas.

Amason#1 is the second of an intended eight well workover programme to be carried out at Forest Hill targeting 35-50 bopd per well.

Whilst Mayan will not now achieve its objective of having seven wells on production by the end of January across Stockdale and Forest Hill, the workover programme forms part of Mayan's overall strategy to increase net production to 300-500bopd in the medium term.

Eddie Gonzalez, managing director, said: "After overcoming some weather-related delays we are pleased with the initial swab test on the Amason #1, the commencement of the workover of the Collins Well and the indication of pay in the upper Sub-Clarksville formation on both wells. Together with the excellent results of the Gilbreath#19 workover in Q4 2017, the first three wells of our high impact eight well workover programme at Forest Hill are expected to come on line at 35-50bopd. With this in mind we expect the coming weeks will not be short of high impact newsflow, as we complete the Collins Well, test the upper formation and move onto the remaining five wells that are to be worked over in this field programme.

"Progress at the Stockdale Field is also encouraging and as a result, we believe we remain on course to achieve our 300-500 net bopd target in the medium term. Together with positive news expected from our investments in Deloro and Block Energy, we are more confident than ever that 2018 will be an excellent year for Mayan."


At 9:58am:

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(LON:MYN) Mayan Energy Limited Ord Npv Di share price was -0.01p at 0.64p

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Story provided by StockMarketWire.com

Mayan Energy invests in Utah oil sand project

Mayan Energy said Deloro Energy, in which it has a 17.6% interest, has completed the first $2.5m tranche of its $10m acquisition of a 49% interest in the Asphalt Ridge heavy oil sands project in Utah.

Completion of the first tranche investment entitles Deloro to a 25% economic royalty from Asphalt Ridge, Mayan Energy said.

All building and construction permits associated with the 1,000-barrel oil per day oil extraction process facility at Asphalt Ridge had been granted, it added.


At 9:46am: (LON:MYN) Mayan Energy Limited Ord Npv Di share price was +0.01p at 0.76p



Story provided by StockMarketWire.com

Mayan Energy commences Texas drilling

Mayan Energy said a rig had arrived at the Forrest Hill oil field in Texas and stared drilling eight new wells.

All of the wells are expected to be brought on stream during January and February, the company said.


At 10:00am: (LON:MYN) Mayan Energy Limited Ord Npv Di share price was -0.05p at 0.65p



Story provided by StockMarketWire.com