Whoops, Falcon 9, not Dragon. The interesting thing about any technology is that, once it is proven, variations by competitors seem to sprout up rather rapidly.
At least it is partly on his own dime. The ISS contract is not out of his pocket but his rocket landing attempts certainly are and I suspect it will eventually work. I also think he is going to get a lot of satellite launch contracts if we really go through with the banning of Russian engines and I would suspect those contracts will, as they should, be agreed to with a profit for SpaceX. The Dragon craft appears to be quite reliable so far.
You sign your place and calling, in full seeming, With meekness and humility; but your heart is cramm'd with
arrogancy, spleen, and pride.
Any new area, with potentially large resources, needs to be proven. That is a given. People who jumped into the AIM listed shares at 3-4 pence were buying a story not yet developed. Magellan will make a decision on what to do in the UK and that may or may not benefit shareholders. Magellan can also get an extension of the notice of delisting that will give the company more time to get above 1.00 a share. Those of us who wish to ride out this story are doing it for our own purposes and advising no one else to do so. Dire warnings by those who have no stake in the company are, as the Bard would say, "..full of Sound and Fury, signifying nothing."
Not a PE of 7. That is old data for the original ATK. The current PE is closer to 15-16 on about 4.50 a share estimated earnings.
They announced they had bought the remaining portion of Marwell Woods. I think Magellan sold it for about 1 pound. This is not the HH1 holding.
A 400% gain in a week, even at the current price, is not a pump. Lenigas has said very little publicly except that he thinks this is of value to England and that a flow test is expected by the end of the year. I really doubt the Exchequer will allow this resource to stay untapped (even if only conventionally) while continuing to send money abroad. Time and cost are the impediments to Magellan and thus I suspect a sale of our interests there (or at least a partial sale) is quite possible.
All speculative of course and ranging from a JV/farmout to sale of UK acreage. The main thought is that one of these must be in the works because Magellan has said nothing about HH and our shares surely have not responded as if investors think Magellan will be a player in this find.
Avi can't stop himself charlotte. One would think your premise is correct but I am afraid Magellan may see that as a quick cash cow and throw the baby out with the bathwater, strangle the goose before it can lay the golden egg, shoot the leprechan before he can lead you to the pot of gold or whatever other phrase you want to use for shortsightedness.
But at what cost to we shareholders? Does Magellan dilute even more so we have an even smaller share. That would not necessarily be bad if it ends up proving how big this resource is and what it means but...
And I do not mean an elephant sized find. The elephant I am referring to, in all honesty, is the lack of cash available to meet drilling development costs. I am a shareholder in Magellan but they simply need more money to meet their obligations if and when the UK opens these areas for development drilling and that is the main reason I fear a low ball take over offer and someone else will reap the benefit in the Weald.
35% interest in the Horse Hill find (PEDL 137)--this is the one in the news plus 35% interest in PEDL 246 just east south east of 137. According to news reports the guess is that this is the sweet spot for the Kimmeridge clays which the consortium running the Horse Hill operation says has excellent porosity with naturally fractured zones that should not need fracking. Magellan also has 50% interests in three other blocks south and west of Horse Hill in partnership with private company Celtique. All of these are in the Weald. I do not know if they still have an interest in the Isle of Wight off the coast.
That has been the theory of some on this board. Perhaps he is doing this to get as many shares as possible and I know it irritates him and all his alter egos (I call him The One) when people hold on and do not give up their shares.