Most expire this year and some within just a few months. Is drilling needed to extend this licenses? If so, they need to get on it.
OK, enough on my questions about West. On the other points you made about Celtique, what would you say would be needed to really show the value of those 4 leases? I know they need to drill but what kind of results do you think they need to show and are the leases active for enough years to get permits to do the drilling? I would not have held Magellan shares for as long as I have if I did not think they have the potential of reaching a share price much higher than the current level.
Doc, are you referring to J. Robinson West who is on the board of directors? Perhaps, given his background (Reagan administration and on board of directors for other companies) and the years that herbert.denton has had as an investor, they have "locked horns" before on energy issues.
Not much reason for institutions to increase ownership unless they see a solid profit down the road. I am sure that taffytaft would agree and yet I notice little comment from the "ONE" as the price of Magellan has risen.
Current market cap would be about 58 million dollars while the value of the sold gas subject to price escalation might be closer to 250 million over a twenty year period but also subject to all costs associated with the fields and both options would have to be seen in terms of Aussie taxes. Would the whole nut go into NT offshore development, would management look for other state side options in addition to Poplar etc etc. Lots at stake here. But, doc, your thoughts about this causing the rise in price makes sense.
Possible sale of Palm Valley and Dingo was also in the report. The CO2 project has rapidly eaten into the company's cash so the next year would seem to be crucial for the company in positive results through increased oil production and gas sales at Poplar and in Oz. I did not see anything to prompt the recent 25% jump in share price in this report other than the UK issue and possible sale of the two gas fields. I expect some pull back in the price but perhaps I am too pessimistic regarding what I read as it seems a lot of people will jump on a potential hot story and jump off even faster if it is not a "what does this do for me RIGHT NOW!"
Buy but with at least a one year time frame in mind.
Appears she did here on this one at least in terms of not getting as much profit as possible although not taking a profit is a bigger mistake.
Then let us hope Magellan lets a partner that is good at executing such plays take the lead. Perhaps the current run up in share price does have more to do with the recent UK news than I would have thought.
Going back to about October 2013 through early Jan. 2014, the price seldom went above 1.05 and touched 1.00 several times. In this last month we have risen to almost 1.30 as of today which, if it holds will be a new 52 week high. Gotta love the price action but would like to have a better idea of the reasons behind the rise. Perhaps we will hear more by next week or so. I do not think it can be solely based on the news of a well being drilled in the UK. Still a speculative buy.
Thanks clamdigger. Those LMT figures do make an interesting comparison and it would surprise me very little to see ORB pull back some unless there are other forces at work besides just the numbers you have shared.
A friend of mine who is pretty conservative said he loved ORB's chart and much of what he saw in the statistics but was concerned about the operating margin which he felt did not leave much room for mistakes. Can we view o.m. differently in Orbital than we might in another company or should we be more concerned about this aspect of some otherwise pretty good stats?
The ORB price keeps bouncing all over the place. Was up 16 cents, then up 30, then back to 14 cents and the last was 1.00 up. If the one dollar rise is accurate then I think, like doc, that something else is going on here besides earnings which were pretty much in line with expectations and forward guidance was very average.
After hours knocked back virtually all of the gains today but I do not know the volume or if it will make any difference going forward. But it is certainly not surprising to see a downward move after this kind of gain. I think this could be a pretty volatile next 7-8 months or so for the market as a whole and I do not think earnings of a buck a share or so will support much more of a rise in ORB unless there is some other catalyst afoot.
Aha, got it. Yes, I remember the correct Taffytaffy now. I agree that unsupported pumping is not any better than unsupported bashing. I have no idea where MPET will be next week or in the next 6 months price wise but I continue to believe it is worth buying at this price.
Postings have taffytaft as a member back to 2009 and every post I have read is negative to someone or about some stock. Can a poster use the same handle as another poster or was there another poster with a similar spelling to which you are referring? It is not a matter of her having a different opinion about a stock that irritates me as much as it is the ad hominem attacks on you and me and others that have nothing to do with Magellan's operations.