MAGNOLIA PETROLEUM PLC
USA Focused Oil and Gas Company

Website

epic - MAGP

Magnolia Petroleum plc..... is an AIM listed oil and gas production company
focused on the acquisition, exploitation and development of oil and gas
properties primarily located onshore in the United States. Lead by a highly
skilled management team with over 100 years combined experience in the
on shore oil and gas industry, the Company already has interests in over 60
producing properties and significant acreage in two major project areas,
the potentially game-changing and highly productive Bakken shale in North
Dakota and the proven Woodford and Hunton formations in Oklahoma.
The Company is also currently targeting the Mississippi Formation in
Oklahoma, a known play with proven and substantial reservoirs.

Recent Analyst Report:

Magnolia Petroleum is an independent oil and gas company based in Tulsa, Oklahoma with non-operated interests in two of the most active unconventional resource plays in North America; the Bakken and the Woodford, and plans to acquire new acreage working as an operator in the nascent Mississippi Lime Play.

Earlier in 2011, Magnolia participated with Chesapeake in‘The Sundance Mississippian Lime’ well which paid back to Magnolia costs within three months of drilling.Magnolia’s recent funding which accompanied its move to AiM will allow the company to begin acquiring leases and to build a position in this upcoming play.

An early entrant into the Bakken and Woodford, Magnolia captured early value and has just scored its most successful well to date with the recent Drone 1-34-27H.This well has recorded excellent initial production rates of 1,199 barrels of oil per day and 441 MCF gas per day; albeit being ‘early days’, we believe it is sufficiently encouraging to suggest a near doubling of engineering projections for the well, with likely formal upgrades to follow.

An early estimate would be that this would generate between $146,000 and $228,000 of net revenue above baseline engineering projections to Magnolia over the well life – all other things being equal.The interesting bit is that this was Magnolia’s first 32- stage frac well and if it turns out to be the case that the success seen in the Drone well is repeated as more complex completions are regularly applied and as evidenced by the Skunk Creek and Stocke well announcements. This may fundamentally improve the underlying valuation of the company.

Our post-money corporate valuation is £10.3m which equates to 1.8p/share based on a sum of the parts valuation.

FULL REPORT HERE:

Hardmans Report 7th December 2011

Just added a recent analyst report compiled by hardmans and Co and is worth
a read.


Hardman report - click here

alex36 i have had an eye on this one looks good

hi maxo

Yes it certainly does and the company have so many current operations and well
participations going on,in the last RNS release the company said "expect more news
as we move into 2012"

Magnolia Petroleum Plc

Additional Wells Agreed and Production Update

20 December 2011

Magnolia Petroleum Plc (`Magnolia' or `the Company')

Participation in Four Additional Wells in the Bakken Formation, North Dakota
and Hunton Formation, Oklahoma and Production Update for Hunton Well

Magnolia Petroleum Plc, the AIM quoted US focussed oil and gas exploration and
production company, announces positive updates on certain non-producing assets
within the highly productive Bakken and Three Forks Sanish hydrocarbon
formations, North Dakota and in the Hunton Formation, Oklahoma and on the
producing Zenyatta 1-6 well in Oklahoma.

Overview

* Participating in the drilling of two new wells in the Bakken / Three Fork
Sanish Formations with leading US oil and gas operator, Marathon Oil
Company

* Participating in the drilling of two new wells in the Hunton Formation,
Oklahoma

* Production commenced from Zenyatta 1-6 well in Oklahoma with Avalon Oil &
Gas III, LLC, producing an average of 79.66 barrels of oil per day and
118.18 MCF of gas per day - production increasing

Rita Whittington, COO of Magnolia Petroleum, said, "This is an extremely
exciting time for the Company as we are now receiving multiple proposals for
wells on both the Three Forks Sanish and Bakken Formations acreage from leading
operators such as Marathon Oil Company. Today's news is in line with the
expected drilling for 2012, as set out in our Admission document and in this
regard I am delighted to report Magnolia is delivering on its strategic
targets.

"While the Bakken Formation, in which we are active, continues to excite strong
interest, our assets in Oklahoma are also looking highly promising and we
anticipate a steady flow of news as we move into 2012."

Full Details

Bakken/Three Forks Sanish, North Dakota

The two new wells announced today in the Bakken/Three Forks Sanish Interest is
in line with the Admission Document of 15 November 2011, in which Magnolia
referred to participating in the drilling of four new wells on its acreage.

* Eckelberg 14-23H infill well in Dunn County, North Dakota (0.53367% working
interest) in partnership with Marathon Oil Company, located in Sections 14
& 23-146N-93W. This well will be drilled to the Middle Bakken Sandstone
interval and is expected to be completed with a 30 stage frac at a cost to
Magnolia of approximately US$43,232.

* Eckelberg 14-23TFH infill well in Dunn County, North Dakota (0.53367%
working interest) in partnership with Marathon Oil Company drilling to the
Three Forks Sanish Formation using the same pad as the above well. The
well, anticipated to spud on 12 January 2012, is expected to be completed
with a 30 stage frac at a cost to Magnolia of approximately US$44,933.

Both Eckelberg wells will be drilled within the same spacing unit as the Clive
Pelton 34-23H well, which was drilled to the Middle Bakken Sandstone Interval
by Marathon Oil Company and participated in by the Company in 2008. The Pelton
well was completed with a single stage frac with an initial production of 483
barrels of oil per day and 148 MCF of gas per day. In comparison, the two new
Eckelberg wells will be completed with 30 stage fracs, and as a result, the
directors believe that production from these two new wells should be
substantially higher.

Hunton Formation, Oklahoma

Magnolia, with its 1.057% working interest, has elected to participate with
Avalon Oil & Gas III, LLC in an infill well, Zenyatta 2-6, located within the
same spacing unit as Zenyatta 1-6, to test the Upper Hunton interval. The
expected spud date is 15 January 2012.

In addition, Magnolia has elected to participate in a further Hunton well,
located in Pottawatomie County, Oklahoma with a 0.8333% working interest. This
well will be drilled by Paul Gillham Oil Company, which has had previous
successes in the area. Magnolia estimates that the cost to the Company of
participating in this well will be approximately US$11,745.

Magnolia recently participated with its 1.057% working interest in the drilling
and completion of the Zenyatta 1-6 well, located in Section 6-8N-2E,
Pottawatomie County, Oklahoma with Avalon Oil & Gas III, LLC. This well was
drilled in the Hunton Formation. Production was established in October 2011 and
is steadily climbing. The well is currently producing an average of 79.66
barrels of oil per day and 118.18 MCF of gas per day and has gross proved
reserves of 77.90 Mbbl.

Have just added a recent report into the main intro for ease of viewing and
with link.

alex36 thanks very much for the info

MAXO

In the last rns they said there will be newsflow as we move into 2012 and that could
be on the oklahoma wells which could be 2500+ bopd

alex i have just found out about this one and think it looks very good so will be
joining you shortly with a few k

davyboy

Magnolia is flying today and seems there is some rumours of some good news coming
over xmas period in OKLAHOMA and also a farm in on one of its plays. INTERESTING.

Recent broker report had a 1.8p near term target

Not of much use with a 25% spread.

Skinny it was not a big spread all day and it closed 0.6p - 0.65p which
is 19% up on day !

Recent Rns

Magnolia Petroleum Plc (`Magnolia' or `the Company')

Operations Update in the Highly Productive Bakken/Three Forks Sanish hydrocarbon formations, North Dakota

Magnolia Petroleum Plc, the AIM listed US focussed oil and gas exploration and production company, is pleased to announce a positive update on its operations in North Dakota where the Company has a portfolio of interests in the potentially game-changing and highly productive Bakken/Three Forks Sanish hydrocarbon formations.

Overview

* Successful drilling of the two Skunk Creek Wells located in the Bakken/

*Three Forks Sanish formations, Dunn County, North Dakota

+ Magnolia participated with a 0.59% interest in the drilling of each well with Kodiak Exploration

+ Highly encouraging initial shows and subsequent application made to
drill an additional three Bakken wells and three Three Forks Sanish wells within the same 1,280 acre spacing unit

+ On completion of these further six wells,a substantial increase in overall production attributable to Magnolia is expected

+ Completion of both wells expected to commence by end of 2011 - between
23 and 24 multi stage frac techniques are to be performed on the two wells

* Stocke 1-4-9H well, located in McKenzie County, North Dakota, now reached
total depth, awaiting completion + Magnolia participating with Hunt Oil Company
with a 3.17% working interest

Magnolia Petroleum COO, Rita Whittington said, "We are delighted to be able to provide our shareholders with such a positive update on our operations so close to our listing on AIM last month. The successful drilling of the two wells at Skunk Creek and reaching total depth in the Stocke well provides us with huge encouragement as we continue to participate in drilling in the highly productive Bakken/Three Forks Sanish formations. We are particularly excited about the Skunk Creek Three Forks Sanish well, as Moyes & Co. our Competent Person singled out this well as a trigger for a significant shift in Magnolia's reserve categories once the well has been successfully drilled and is producing.

"Modern technology such as multi-stage frac techniques used in the completion of horizontal wells has increased production tremendously in non-conventional oil and gas plays. Magnolia's participation in the Drone well, completed as a 30 stage frac, yielded an initial production of 1,199 barrels of oil per day, and nearly trebled Magnolia's net production interests to approximately 20 barrels per day. We are extremely pleased with the Company's participation in successful drilling programmes to date and our highly experienced Board anticipates the Stocke and Skunk Creek wells will prove to be highly productive and will add to our outstanding success rate to date. With this in mind, I very much look forward to updating shareholders on our progress".

---------------------------------
Another

20 December 2011





Magnolia Petroleum Plc (`Magnolia' or `the Company')





Participation in Four Additional Wells in the Bakken Formation, North Dakota



and Hunton Formation, Oklahoma and Production Update for Hunton Well



Magnolia Petroleum Plc, the AIM quoted US focussed oil and gas exploration and production company, announces positive updates on certain non-producing assets within the highly productive Bakken and Three Forks Sanish hydrocarbon formations, North Dakota and in the Hunton Formation, Oklahoma and on the producing Zenyatta 1-6 well in Oklahoma.



Overview





* Participating in the drilling of two new wells in the Bakken / Three Fork

Sanish Formations with leading US oil and gas operator, Marathon Oil

Company

* Participating in the drilling of two new wells in the Hunton Formation,

Oklahoma

* Production commenced from Zenyatta 1-6 well in Oklahoma with Avalon Oil &

Gas III, LLC, producing an average of 79.66 barrels of oil per day and

118.18 MCF of gas per day - production increasing





Rita Whittington, COO of Magnolia Petroleum, said, "This is an extremely exciting time for the Company as we are now receiving multiple proposals for wells on both the Three Forks Sanish and Bakken Formations acreage from leading operators such as Marathon Oil Company. Today's news is in line with the expected drilling for 2012, as set out in our Admission document and in this regard I am delighted to report Magnolia is delivering on its strategic targets.



"While the Bakken Formation, in which we are active, continues to excite strong interest, our assets in Oklahoma are also looking highly promising and we anticipate a steady flow of news as we move into 2012."



Full Details



Bakken/Three Forks Sanish, North Dakota



The two new wells announced today in the Bakken/Three Forks Sanish Interest is in line with the Admission Document of 15 November 2011, in which Magnolia referred to participating in the drilling of four new wells on its acreage.





* Eckelberg 14-23H infill well in Dunn County, North Dakota (0.53367% working

interest) in partnership with Marathon Oil Company, located in Sections 14

& 23-146N-93W. This well will be drilled to the Middle Bakken Sandstone

interval and is expected to be completed with a 30 stage frac at a cost to

Magnolia of approximately US$43,232.

* Eckelberg 14-23TFH infill well in Dunn County, North Dakota (0.53367%

working interest) in partnership with Marathon Oil Company drilling to the

Three Forks Sanish Formation using the same pad as the above well. The

well, anticipated to spud on 12 January 2012, is expected to be completed

with a 30 stage frac at a cost to Magnolia of approximately US$44,933.

alex, happy xmas !!!! i see from those rns that magnolia are active on a number
of wells at moment

whoops see peeps getting locked in here today - all the large trades 1m + have been sells - smart money getting out - small pi buying only probably following ramps on various sites - gla

I don't think so gibby. Huge volume today with trade equivalent to over 25% of the company's stock. Strong close, and a move up on good volume should be sustained. Lots of news to come which will drive interest. Could be a good stock to hold or a stock to trade over the next 12 months. USA shale gas plays are a market sweet spot at the moment and this one has momentum.

Bought in today for an exciting and profitable ride (hopefully).
2517

well done 2517 you must be in profit - i sat this one out - just wasnt convinced at the time - i looked again today but am i right in saying that today's rns upgrade magp have only 1.5% of that - i only sped read the rns so could be wrong? if there is some weakness here think i may have a dabble - i realise they seem to have multiple targets which in itself should be good - i need to research this one more me thinks - did i see a target here of 11p or was it more cant quite remember? cheers

It was a positive RNS - but not 1.5% - just 0.015%!!!

I had to smile to myself. An RNS to announce a small increase in our 0.01543% interest! How the heck could anyone end up with an interest that small or that precise. At 6,000 bpd gross, that's worth about 9.25 bpd to MAGP and an increase of just 0.925 bpd or about $100 per day less expenses. That is by far the lowest value RNS I have ever read. No wonder ExxonMobile didn't hit the front pages with this one. Oh.... and it hasn't even happened yet.
Holding shares in this company is going to be fun ;-))

Another good move up today on good volume. Looks like we've said goodbye to the 1p level.

Christmas has either come early or late, up up up and away.

Cheers Alex for sticking this one up last month. I am enjoying the ride and still holding. Riv

onwards & upwards :-))

Participation in Additional Well in the Prolific Bakken Formation, North Dakota

Magnolia Petroleum Plc, the AIM quoted US focussed oil and gas exploration and
production company, has received a proposal from, and has elected to
participate with, the operator, Slawson Exploration Co Inc., in the drilling of
the Drone 2-34-27H well (`Drone #2'), located in Sections 27 and 34-145N-93W,
Dunn Co., North Dakota. These same sections of the Middle Bakken were
successfully drilled by the Drone #1 well as announced on 4 November 2011 and
resulted in an increase in production attributable to Magnolia across all its
interests from 7 to approximately 20 barrels of oil equivalent per day.

As with Drone #1, Magnolia has a 1.3344% working interest in Drone #2. The
total cost of Drone #2 is estimated at US$9,109,075, at a cost to Magnolia of
approximately US$121,551. The estimated spud date for the well is 15 February
2012.

Magnolia COO, Rita Whittington said, "With the results of Drone #1 still fresh
in our minds we are hopeful that Drone #2 will replicate this success as we
focus on materially increasing our net production. We are now participating in
6 wells in the Bakken Formation, where production continues to increase,
highlighting its prospectivity; over half a million barrels of oil per day are
currently produced, as compared to 130,000 barrels of oil per day in 2003.
Indeed, a US Geological Survey's report estimated that the Bakken held between
3 - 4.3 billion barrels of undiscovered recoverable oil, which gives us much
confidence in the future of this project and our participation in other wells
in the Bakken.

"Outside of the Bakken, we remain highly active in the Three Forks Sanish
Formation in North Dakota, the Woodford/Hunton reservoirs in Oklahoma and the
oil rich Mississippi also located in Oklahoma and I look forward to providing
further updates on all our interests in due course."

Let's hope this keeps rising.

Just bought a few more just to keep going.

ditto

Magnolia Petroleum lifted after announcing participation in further North Dakota well - UPDATE


3:39 pm by Andre LambertiIn a note, broker Northland analyst Andrew McGeary said that while the firm had a small net interest in Drone-2, it was material to Magnolia

---Adds broker comments---

US focused oil and gas company Magnolia Petroleum (LON:MAGP) has elected to participate in a further well in the prolific Bakken Formation in North Dakota.

Operator Slawson Exploration Co Inc has invited Magnolia to take a 1.3344 per cent working interest in Drone-2, which is estimated to spud in mid-February and follows on from the success of the Drone-1 well at the end of last year.

Magnolia also holds a 1.3344 per cent interest in Drone-1, and its success resulted in an increase in production attributable to the group across all its interests from 7 to approximately 20 barrels of oil equivalent per day.

Total cost of Drone-2 is estimated at US$9.11 million, thus costing Magnolia approximately US$121,550.

Magnolia chief operating officer Rita Whittington said: "We are now participating in six wells in the Bakken Formation, where production continues to increase, highlighting its prospectivity; over half a million barrels of oil per day are currently produced, as compared to 130,000 barrels of oil per day in 2003.

“Indeed, a US Geological Survey's report estimated that the Bakken held between 3 - 4.3 billion barrels of undiscovered recoverable oil, which gives us much confidence in the future of this project and our participation in other wells in the Bakken,” she added.

Magnolia listed on AIM last year. Its portfolio includes interests in 64 producing and non-producing assets, primarily located in the highly productive Bakken/Three Forks Sanish hydrocarbon formations in North Dakota as well as the substantial and proven Woodford and Hunton formations and the oil rich Mississippi formation, in Oklahoma.

In a note, broker Northland analyst Andrew McGeary said that while the firm had a small net interest in Drone-2, it was material to Magnolia.

"Depletion rates may factor but If Drone 2 replicates the success of Drone 1, it would suggest to us payback on the modest investment in less than a year," the analyst pointed out.

As at 3.30pm today, shares in the firm were trading up 7.14 per cent, at 1.50 pence each

Another good rise this week.Looking for a push up 2p and with results out next week on the 15th Feb on Drone 2 thing are looking good.Up up and away.

Also a good report in this weeks share mag. Rated as a buy.

U.Boy

Yes I am enjoying this ride. Bought in and added all the way up. Blue sky!!!

Hopefully positive news will see this rise further. Potential multi bagger. imo

More than doubled in less than a month.
2517

More good news keep it going Magnolia.

Magnolia Petroleum Plc (`Magnolia' or `the Company')

Acquisition of Acreage in the proven Mississippi Formation, Oklahoma

Magnolia Petroleum Plc, the AIM quoted US focussed oil and gas exploration and
production company, is pleased to announce that it has acquired a 100% interest
in 800 acres in the oil producing Mississippi Lime formation, Oklahoma and
minority interests in leases over a further 284 net acres.

The transaction is in line with the Company's growth strategy to operate wells
in the Mississippi Formation and follows the successful participation in the
Sundance well with Chesapeake.

Highlights

* The Mississippi Formation is a proven commercial oil and gas system that
has been producing from several thousand vertical wells for more than 50
years - new technology and horizontal drilling has reopened the oil play

* Acquisition of 100% working interests in 800 net acres, including the right
to drill

* Plans to drill at a minimum 3 vertical wells to test the Mississippi on
this acreage in the near future

* Ongoing leasing activity has acquired a further 284 net acres with an
average working interest of 3.4% with further acreage expected to be
acquired in due course

* Total aggregate costs of $230,000 for acquiring the 1,084 acres, in line
with the Company's expectations in the AIM admission document

Magnolia COO, Rita Whittington said, "Today's news represents a key milestone
for Magnolia. The new acreage lies on the Mississippi formation in Oklahoma,
recognised as having the potential to be the next big play in onshore US and
where many of the leading players operating in the Bakken have recently been
busy acquiring large tracts of land. Last year we participated in a well with
Chesapeake that was completed in the Mississippi formation in which we
recovered all of our costs in just three months. In addition, the cost of
drilling in the Mississippi is considerably less than that of the Bakken, and
so offers higher margins and a much reduced payback time. During our due
diligence process, we identified a number of prospects on the acreage and
following further analysis we aim to spud a first well by the end of this
year."

Detailed Information

Prior to the AIM admission, Magnolia entered into an agreement to participate
in the leasing on a series of prospects consisting of approximately 80 square
miles over five separate areas. The 284 net acres (8,400 gross acres), covering
33 individual sections and part of which is within the "Prospect A" area
identified in the Competent Persons Report within the AIM Admission document,
is the product of this agreement and it is anticipated that further acreage
will be acquired under this agreement in due course. The average working
interest acquired to date is 3.4%, but this is expected to change as further
acres are acquired with Magnolia targeting an average percentage of around 25%.

The acquisition of the 800 gross acres with a 100% working interest is outside
of the aforementioned agreement and follows the Company's intention to acquire
material working interests as an operator and so control the timing of the
drilling, proposing and producing of its oil and gas wells. The deal also
includes the right to drill in the Mississippi formation and purchase of
existing infrastructure currently on the site including, tanks, separators, an
injection well, and six "active" wells, producing from a shallower formation,
that could have recompletion and stimulation potential. Magnolia has future
plans to drill at a minimum three vertical wells to test the Mississippi on
this acreage in the near future.

Background Information on the Mississippi Formation, Oklahoma

The Mississippian oil trend is an expansive carbonate stratigraphic trap
producing at shallow depths ranging from 4,500 to 7,000 feet below the surface.
The reservoirs lie at the regional Pennsylvanian/Mississippian unconformity, as
a result of uplift, alteration and erosion of shallow marine Mississippian
carbonates.

The uppermost Mississippian member is a widespread debris-flow deposit formed
through a combination of uplift and erosion of the Mississippi Limestone,
consisting of varying amounts of weathered chert, limestone and dolomite called
the "Mississippi Chat". The "Mississippi Lime" underlies the chat and also
exhibits good reservoir characteristics. The formation was subject to
weathering and digenesis and erosion at the regional unconformity. This results
in greatly varying reservoir properties both horizontally and vertically. Where
the digenesis and weathering have enhanced the reservoir properties, the
porosity is generally 15-20% and can be more than 100 feet thick. Where it has
not been enhanced, the porosity is only 4-6% and has low permeability. This
results in lateral discontinuous reservoirs that are ideally developed with
horizontal drilling technology.

The horizontal wells drilled in the play have lateral lengths of between 2,500
feet and 5,000 feet and are fracture stimulated in 6-12 stages. The fracture
stimulation treatments are not as large as those in the Bakken play or the
other unconventional resource plays such as the Eagle Ford. Because of the
shallow depths and smaller fracture stimulation treatments, the typical
completed well cost ranges from $2.4-$2.9 million. Current drilling times are
approximately 17-28 days from spud to total depth.

The active operators in the play have published significant information on
their results and expectation on the performance of wells in the play.
SandRidge currently has over 650,000 acres under lease and the company has
completed over 60 wells in the play. They estimate they have over 3,000
potential drilling locations. SandRidge's published type curve for well
performance is 409 Mboe with expected well recoveries ranging from 300,000 to
500,000 boe at an average drill and complete cost of $2.7 million including
allocated salt water disposal well costs.

The Competent Persons Report analysed the performance of 56 Mississippi Lime
horizontal wells that were completed between 2007 and early 2011. The wells had
30 day average initial rates ranging from 60 bopd to 750 bopd. The average
estimated oil recovery was 366 Mbo from this sampling of wells

Sold out today with a very nice return. Possibly a mistake but I will return on any dip in SP. Good Luck to all who hold.

http://www.stockopedia.co.uk/content/magnolia-petroleum-coo-interview-q1-fy12-63955/

Excellent read.A slight down turn on friday but I do expect the shares to continue to rise a lot higher in the coming weeks.Good luck to all that hold.

Indeed a good read. Nothing that existing holders didn't already know, but it is a nice read when it is all put together.

Why the big drop today???

Balerboy, a slight pull back was always on the cards - Nothing to worry about imo.

I actually bought back in earlier having sold last week at 1.92.

Good luck

Fast approaching 10:1 in favour of buyers.
2517

Results out in the next couple of days so I would say a rise is in order.

Magnolia Petroleum has acquired an additional 480 gross acres with an average 83.33% working interest in the oil producing Mississippi Lime Formation, Oklahoma.

Also waiting for the test results from Drone #2 well should be in shortly.

With the extra acres and more wells to drill this year this hopefully can only go one way up up up.

Good luck.

Exciting times ahead and still waiting for Drone#2 well results.

Magnolia Petroleum Plc, the AIM quoted US focussed oil and gas exploration and
production company, announces it will be participating with leading oil and gas
company, Chesapeake Exploration LLC (`Chesapeake') in four horizontal wells
targeting the Mississippi Formation, Oklahoma, a proven and reopening oil play.
Three of the wells are being drilled within the same spacing unit as the
successful Sundance well.

In addition, and further to the Company's announcement on 20 December 2011, the
Company has received confirmation from the operator that drilling has now begun
on the Zenyatta 2-6 well targeting the Hunton Formation, Oklahoma.

Mississipian Formation Wells

Well # 1

On 10 February 2012 the Company announced ongoing leasing activity had acquired
284 net acres in the Mississippi Formation with an average of 3.4% interest. On
one of the 33 sections, Chesapeake, as operator, has now proposed the drilling
of a horizontal well in which Magnolia holds a 2.3% working interest. The
completed well costs are estimated at US$3,719,505 and Magnolia estimates the
cost to the Company of participating in this well will be approximately
US$85,548.

Wells # 2, 3, 4

Chesapeake has notified the Company that it has commenced plans to drill three
horizontal increased density wells to test the Mississippi Formation within the
same spacing unit as the successful Sundance well, in Woods County Oklahoma.
The Sundance well resulted in payout being achieved in three months, a record
for the Company. Sundance has proved 2P reserves of 431.62Mbbl of oil and
152.52MMcf in gas. Magnolia holds a 0.796% working interest and a 0.597% net
revenue interest in the well. As a result the net 2P reserves attributable to
Magnolia are 2.58Mbbl and 0.91MMcf. The Company is awaiting confirmation from
the operator of the total completed costs associated with the wells.

Zenyatta 2-6 Well, Hunton Formation, Oklahoma

Magnolia has been informed by Avalon Oil & Gas III, LLC, the operator, that the
Zenyatta 2-6 well spudded on 20 February 2012, a few weeks later than
originally anticipated. The Zenyatta 2-6 is an infill well located within the
same spacing unit as the producing Zenyatta 1-6. Zenyatta 2-6, in which
Magnolia has a 1.057% working interest, is targeting the Upper Hunton interval.

Production from the Zenyatta 1-6 well, located in Section 6-8N-2E, Pottawatomie
County, Oklahoma, was established in October 2011 and the well is currently
producing an average of 79.66 barrels of oil per day and 118.18 MCF of gas per
day. The well has gross proved reserves of 77.90 Mbbl.

Rita Whittington, COO of Magnolia Petroleum, said, "The four wells in which we
have chosen to participate with Chesapeake highlight the rapidly growing
interest among leading oil and gas companies in the Mississippi Formation. We
are not alone in the industry in believing the Mississippi has the potential to
become the next big oil play in the US and that it could well prove to be a
reservoir of similar magnitude to the prolific Bakken in which we have both
producing and non-producing interests. This belief lies behind our intention to
operate our first well in the oil play later this year following our recent
acquisition of 1,484 net acres with working interests of up to 100%. Along with
others such as Chesapeake, Magnolia really is at the vanguard of reopening the
Mississippi through the application of modern drilling techniques."

Background Information on the Mississippi Formation, Oklahoma

The Mississippian oil trend is an expansive carbonate stratigraphic trap
producing at shallow depths ranging from 4,500 to 7,000 feet below the surface.
The reservoirs lie at the regional Pennsylvanian/Mississippian unconformity, as
a result of uplift, alteration and erosion of shallow marine Mississippian
carbonates.

The uppermost Mississippian member is a widespread debris-flow deposit formed
through a combination of uplift and erosion of the Mississippi Limestone,
consisting of varying amounts of weathered chert, limestone and dolomite called
the "Mississippi Chat". The "Mississippi Lime" underlies the chat and also
exhibits good reservoir characteristics. The formation was subject to
weathering and digenesis and erosion at the regional unconformity. This results
in greatly varying reservoir properties both horizontally and vertically. Where
the digenesis and weathering have enhanced the reservoir properties, the
porosity is generally 15-20% and can be more than 100 feet thick. Where it has
not been enhanced, the porosity is only 4-6% and has low permeability. This
results in lateral discontinuous reservoirs that are ideally developed with
horizontal drilling technology.

The horizontal wells drilled in the play have lateral lengths of between 2,500
feet and 5,000 feet and are fracture stimulated in 6-12 stages. The fracture
stimulation treatments are not as large as those in the Bakken play or the
other unconventional resource plays such as the Eagle Ford. Because of the
shallow depths and smaller fracture stimulation treatments, the typical
completed well cost ranges from $2.4-$2.9 million. Current drilling times are
approximately 17-28 days from spud to total depth.

The active operators in the play have published significant information on
their results and expectation on the performance of wells in the play.
SandRidge currently has over 650,000 acres under lease and the company has
completed over 60 wells in the play. They estimate they have over 3,000
potential drilling locations. SandRidge's published type curve for well
performance is 409 Mboe with expected well recoveries ranging from 300,000 to
500,000 boe at an average drill and complete cost of $2.7 million including
allocated salt water disposal well costs.

The Competent Persons Report analysed the performance of 56 Mississippi Lime
horizontal wells that were completed between 2007 and early 2011. The wells had
30 day average initial rates ranging from 60 bopd to 750 bopd. The average
estimated oil recovery was 366 Mbo from this sampling of wells.

Yes it all looks very positive, my reservation would be that with so many, sometimes miniscule interests, the management could be spreading themselves too thinly.
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I don't see it that way George. These small interests require a bit of number crunching that can be done instantly on a spread sheet. If the numbers stack up management says 'yes', signs a cheque and issues the RNS. What takes the time and the effort is assembling the interests in the first place - probably from old family holdings where the families concerned are either unwilling or unable to take up their participation entitlement.

Lord Gnome-----I was thinking more from the viewpoint of management meetings, both within MAGP and also with their various partners.
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Significant Increase in Net Daily Production

Magnolia Petroleum Plc, the AIM listed US focussed oil and gas exploration and
production company, is pleased to report a significant increase in net daily
production, following receipt from the respective operators of initial
production rates for three wells targeting the Bakken / Three Forks Sanish
formations, North Dakota, one of which, at 2,303 bopd, is a record for the
Company.

Two Skunk Creek wells located in the Bakken/Three Forks Sanish formations, Dunn
County, North Dakota

Magnolia participated with a 0.5977% working interest and 0.4482% net revenue
interest in the drilling of each well with Kodiak Exploration.

* Skunk Creek 15H targeting the Three Forks Sanish

* Initial Production Rate 2,303 bopd

* 10 bopd net to Magnolia

* Demonstrates the benefit of multi-stage fracking

* Expected to result in significant upgrade in Magnolia's Three Forks Sanish
reserves

* Skunk Creek 14H targeting the Bakken

*
+ Initial Production Rate 212 bopd, within expectations

+ 1 bopd net to Magnolia

Stocke 1-4-9H well, located in McKenzie County, North Dakota

Magnolia participated with Hunt Oil Company with a 3.17% working interest and
2.57% net revenue interest.

* Initial Production Rate 295 bopd, within expectations

* 7 bopd net to Magnolia

* 21 stage frac drilling

* Expecting payout after three years despite mechanical issues leading to
cost overrun

At current levels, the three wells have increased net daily production
attributable to Magnolia by 18 bopd. Based on previously reported production
figures of 20 bopd (7 December 2011), this would increase Magnolia's production
to an estimated 38 bopd. As with all producing wells, production rates are
expected to decline over the life of the wells and the aggregate actual
production figure may be slightly less than the estimated figure of 38 bopd.

Magnolia Petroleum COO, Rita Whittington said, "The 2,303 bopd initial
production rate of the Skunk Creek 15H well is our best ever and graphically
illustrates the enormous potential of this emerging play. Lying beneath the
Bakken, the US government estimates Three Forks Sanish could hold up to 2bn boe
in recoverable oil reserves. The record production rate is highly encouraging
for the three additional Three Forks Sanish and three Bakken wells that are to
be drilled within the same 1,280 acre spacing unit as Skunk Creek.

"While we are advancing our plans to operate our first well in the Mississippi
later this year, we also remain committed to our proven strategy of acquiring
properties in well-known oil plays such as the Bakken / Three Forks Sanish, and
then participating in wells with leading oil and gas companies. As the Skunk
Creek and Stocke wells show, this strategy has the potential to generate
considerable returns on relatively modest capital outlays. Today's jump in net
production and resultant revenues will help fund our participation in
additional wells as well as pursue our ongoing leasing activity. With this in
mind, I look forward to updating the market on our progress."

Detailed Information

Reports have now been received from the operator in respect of the initial
production rates of the two Skunk Creek Wells, located in Dunn County, North
Dakota. Magnolia participated with a 0.5977% working interest in the drilling
of each of these two wells with Kodiak Exploration. The costs of drilling were
in line with original expectations.

According to the operator, the Three Forks Sanish and Bakken Skunk Creek wells
are currently producing at 2,303 bopd and 212 bopd respectively. The production
rate for the Three Forks Sanish well is a record for the Company and
significantly ahead of expectations. The production rate from the Bakken Skunk
Creek well is within the expectations of the Moyes & Co Competent Persons
Report ("CPR").

At the time of the CPR, Magnolia did not have any Three Forks Sanish wells on
its leases and as a result Moyes attached a high risk category to the Three
Forks Sanish reserves. In the CPR, Moyes & Co. singled out the successful
drilling of the Skunk Creek well, being the Company's first Three Forks Sanish
well, as being a trigger for a potential increase in Magnolia's reserve
categories. The successful drilling and subsequent production at the Skunk
Creek 15H well should lead to an upgrade in Magnolia's reserves through the
reclassification of the Three Forks Sanish reserves from "possible" to
"probable". The Company needs to wait at least 6 months before commissioning a
new competent person's report and may wait until after the year end in order to
include results from other wells being drilled in 2012.

As previously reported, application has been made to the North Dakota
Industrial Commission to drill an additional three Bakken wells and three Three
Forks Sanish wells within the same spacing unit. The Skunk Creek wells are in
line with Magnolia's CPR which indicates that the Bakken is being infill
drilled to four wells per 1,280 acres spacing and that the Three Forks Sanish
is also starting to be developed in the area at four wells per 1,280 acre
spacing unit. This infill drilling would allow for an additional 78 Bakken and
107 Three Forks Sanish locations for a total of 108 wells in the Bakken and 108
wells in the Three Forks Sanish. Once permission is obtained and the initial
six wells are drilled, the Company expects that its overall production
interests will increase substantially.

In addition, Magnolia participated with Hunt Oil Company in the drilling of the
Stocke 1-4-9H well, located in McKenzie County, North Dakota with a 3.17%
working interest. The Stocke well reached total depth on 2 December 2011 and
received a 21 stage frac treatment. The operator has confirmed an initial
production rate of 295 bopd. Due to mechanical issues, the cost of drilling the
well was up to 40% higher than the original estimate. However, as a result of
Stocke's current production levels, the Company still expects the well to
payout after a period of three years.

And yet the share price drops down a touch. Tells me that we have run out of steam and that we have a few stale bulls selling into any strength that appears. Looks like we could be in for the long haul from here.

Completion of Fundraising of £1.3m

Magnolia Petroleum Plc, the AIM quoted US focussed oil and gas exploration and
production company, is pleased to announce that it has raised approximately £
1.3 million via the issue of 95,653,740 new ordinary shares (the "Placing
Shares") in the Company at a price of 1.3 pence per share (the "Placing") and
4,461,530 new ordinary shares (the "Subscription Shares") in the Company at the
same price to certain directors (the "Subscription"). The Placing was
significantly oversubscribed.

The net proceeds of the Placing and the Subscription will be used to further
expedite the Company's existing growth and investment strategy as set out at
the time of Admission in November 2011.

Following the recent announcements, the Company intends to seek out further
acquisitions of both producing and non-producing interests in the highly
productive Bakken / Three Forks Sanish hydrocarbon formations in North Dakota
as well as in the substantial and proven Woodford/Hunton reservoirs in Oklahoma
and the oil rich Mississippi Formation located in Oklahoma.

In addition, the Company is reviewing a number of well proposals and will be
participating in new drilling as appropriate.

Magnolia currently has interests in 64 oil and/or gas producing properties. The
Company owns leases in respect of 2,743 net acres in North Dakota and Oklahoma,
1,484 of which were recently acquired with working interests of up to 100% in
Oklahoma where Magnolia also holds a licence to operate.

Rita Whittington, COO of Magnolia Petroleum, said, "It is an indication of the
extraordinary activity taking place in US onshore hydrocarbon plays that we are
receiving multiple proposals to participate in wells each month. Today's fund
raising will go towards our participation in further drilling in prolific plays
such as the Three Forks Sanish where earlier this week we reported our best
ever initial production rate that has, on its own, increased our net barrels of
oil per day by 50%. In addition, we continue to evaluate opportunities to
increase our acreage across all the formations in which we have a presence,
particularly the reopening Mississippi oil play in Oklahoma where we recently
acquired 1,484 net acres with working interests of up to 100% and where we
remain on track to operate our first well later this year.

"The positive response to today's Placing from both new and existing investors
is hugely encouraging and represents an endorsement of the tremendous potential
of our two-pronged growth strategy: participating with leading oil and gas
companies in proven hydrocarbon formations such as the Bakken in North Dakota;
and operating wells ourselves where we hold significantly larger interests. I
look forward to providing the market with updates on our progress in due
course."

Admission and dealings

The Placing Shares and the Subscription Shares will rank pari passu in all
respects with the Company's existing issued ordinary shares and will be
equivalent to 15.0% of the enlarged issued share capital. Application has been
made for the admission of the Placing Shares and the Subscription Shares to
trading on AIM and it is expected that admission will occur and that dealings
will commence at 8.00 a.m. on 9 March 2012.

For the purposes of the Financial Services Authority's Disclosure and
Transparency Rules, the Company announces that following the issue of the
Placing Shares and the Subscription Shares, the Company will have 668,880,985
Ordinary Shares in issue ("Enlarged Share Capital").

The Company has no ordinary shares held in treasury. The total number of voting
rights in the Company will therefore be 668,880,985. This figure may therefore
be used by shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their interest in,
or a change in their interest in, the share capital of the Company under the
FSA's Disclosure and Transparency Rules.

Directors Dealings

The table below sets out the number of shares subscribed for by the Directors
under the Subscription and their subsequent holdings.

Director Subscription Subsequent % of Enlarged Outstanding
Shares Holding Share Capital number of
options and
warrants

Steven Snead 1,538,460 198,974,820 29.75 14,110,000

Ronald Harwood 2,923,070 27,541,250 4.12 1,660,000

And that placing explained the weakness in the share price. Smart move by management to raise funds after such a spike - even if it did stuff the price for a period. Hopefully this will put a floor under the stock. Onwards and upwards.

Acquisition of Acreage in the proven Mississippi Formation, Oklahoma &
Operations Update

Magnolia Petroleum Plc, the AIM quoted US focused oil and gas exploration and
production company, is pleased to announce a positive update across its
portfolio of interests focused on proven and producing US onshore hydrocarbon
formations, including the prolific Bakken / Three Forks Sanish Formations in
North Dakota and the Hunton / Woodford and Mississippi Formations in Oklahoma.

Highlights

* Acquisition of an oil and gas lease comprising a 12.5% working interest in
640 acres (80 net mineral acres), with a 9.375% net revenue interest. This
lease is located in Oklahoma, within the boundaries of the prolific
Mississippi play.

*
+ Operator of the acreage is Chesapeake Energy Corporation
(`Chesapeake'), who has already drilled, fracture stimulated and is
currently completing one well covering this lease. Production rates to
follow

+ Cost of $587,120 for acquiring the acreage including share of cost of
participation in Chesapeake well

* Participation in additional well targeting the Bakken, North Dakota, a
proven formation with an estimated 4.3 billion in recoverable reserves

* Zenyatta 2-6 well spudded, targeting the oil producing Hunton Formation,
Oklahoma - initial production rate to follow in the next few months

Magnolia COO, Rita Whittington said, "Today's land acquisition along with our
participation in two further wells adds to our highly prospective portfolio of
assets that comprises producing and non-producing interests in proven oil plays
such as the Bakken / Three Forks Sanish, North Dakota and the Hunton and
Mississippi Formations in Oklahoma. We currently have interests in 69 producing
assets and with our recently raised funds, we are well placed to significantly
increase this total and in turn achieve a step up in revenues generated."

Full Details

The Mississippi Formation

Magnolia acquired a 12.5% working interest in 640 acres (80 net mineral acres)
with a 9.375% net revenue interest. The Company has been informed that
Chesapeake has already drilled and fracture stimulated a well covering this
acreage. Chesapeake is currently finishing up the completion process and
installing production equipment to place this well on line for production. The
total cost of the acquisition is US$587,120 and includes Magnolia's share of
the cost of the Chesapeake well.

The Mississippi Formation is a proven commercial oil and gas system that has
been producing at shallow depths ranging from 4,500 to 7,000 feet below the
surface from several thousand vertical wells for more than 50 years. New
technology and horizontal drilling has reopened the oil play.

The Bakken, North Dakota

The Company has received a proposal and has elected to participate in the
drilling of Quill 2-10-3H. The well is to be drilled on the same spacing unit
as Quill 1 that is producing from the Bakken formation. The operator of the
well is Hunt Oil Company. The total cost of drilling the well is estimated to
be US$8,234,000. Magnolia has a 0.38786% working interest in the well and as a
result the Company's share of the costs is estimated at US$31,936.47.

Quill 1 was completed with an eight stage frac with an initial production of
756 barrels of oil per day and 492 MCF of gas per day. By comparison, the Quill
2-10-3H will be completed with a 30 stage frac, and as a result, the directors
believe that production from the new well should be substantially higher.

Hunton Formation, Oklahoma

Magnolia, with its 1.057% working interest, participated with Avalon Oil & Gas
III, LLC in an infill well, Zenyatta 2-6, located within the same spacing unit
as Zenyatta 1-6, to test the Upper Hunton interval. Further to its announcement
of 21 February 2012, the Company has been informed by the operator that the
drilling of Zenyatta 2-6 has now been completed. Production figures for the
well are expected to be received in due course.

The Zenyatta 1-6 well, located in Section 6-8N-2E, Pottawatomie County,
Oklahoma was drilled in the Hunton Formation. Production was established in
October 2011 during which time the well produced an average of 79.66 barrels of
oil per day and 118.18 MCF of gas per day. The well has gross proved reserves
of 77.90 Mbbl.

Anyone fancy a top up at the placing price? Plenty of stock on offer. Trying to raise funds for more, but what to sell?

Sounds too much like hawk for me, still counting the cost of that dabble.,.

Doubled up yesterday at 1.29p. I don't see this as a Hawk. This outfit may be very small, but it is the real deal.

Good RNS update today, more acrage aquired and plenty going on, should be hearing a lot more in the next few weeks.. So onwards and up!!!!..

Following the resounding success of our first two events, Mining and Resources Quarterly is proud to offer another chance for you to meet, hear from and ask questions of key senior management figures from carefully selected companies.



This event offers an unique opportunity not only to hear about the latest plans from some of the most exciting companies in the sector, but also to put your questions to the people that matter. What is more, there is a free drinks and canapés reception where you can mingle with industry leaders and your fellow investors. Make sure you don't miss this unique opportunity to get the answers you need from the people who make the market.

NEXT EVENT

Date: Wednesday 23rd May 2012

Venue: Novotel, London Tower Bridge, 10 Pepys Street, London, EC3N 2NR

Registration: 6.00pm

Presentations: 6.30pm followed by a drinks/canapés reception



Companies Presenting:



Magnolia Petroleum Plc is an AIM quoted, US focussed, oil and gas exploration and production company with interests in 70 producing properties and non-producing assets covering 16,515 gross acres and 3,000 net acres primarily located in the oil rich Mississippi play in Oklahoma, 4,850 gross acres and 375 net acres in the highly productive oil play in the Bakken/Three Forks Sanish fields in North Dakota as well as the substantial and proven Woodford and Hunton plays, in Oklahoma. The Company focuses on producing areas where the application of horizontal drilling and/or hydraulic fracturing and other techniques offers scope to significantly improve recovery/flow rates. Targeting proven areas lowers exploration risk, illustrated by Magnolia's tremendous success rate achieved so far - 27 out of the first 28 wells in which the Company has participated in have been commercially successful. In addition Magnolia focuses on fields that predominantly produce oil rather than gas securing higher revenues and margins as a result of the higher oil price.



Kea Petroleum (AIM:KEA) is an oil and gas explorer in New Zealand and Australia. Taranaki, New Zealand where Kea is currently exploring has a long history of proven reserves. In 2010 New Zealand Energy Corp and Tag Oil both struck oil resulting in share prices increasing 165% and 100% respectively.

2012 has seen the beginning of Kea’s most exciting and active year. On 10 April, it struck oil and is awaiting equipment to test a field with a potential between one and three million barrels. Two weeks later it commenced drilling its second 2012 well. Later drilling will include one co-funded by Methanex, the world’s largest supplier of methanol.

Ian Gowrie-Smith, Chairman will detail Kea’s exciting prospects.



Click here to go to Event
More companies to be announced

Wish I could be there to see it, but it is a long way to go - even to hear Rita speak.

lord this is a good company but bewar of dilutio it is coming

I don't think there'l be a fundraising in the near term unless they've seen something that they see as a must have!, the last fundraising was on the 2/3/12 when they raised £1.3mil.

I'm not saying there won't be a fundraising in the future, but if their past farmins and purchases of acrage is anything to go by then BRING IT ON!!!!!....

Dilution is a fact of life with investing in small oilers. The best anyone can hope for is that the company continues with the good news flow and that any future share offerings are at progressively higher prices.

Did anyone attend last night's presentation?

Sparkling performance today, it would seem that the presentation went well, although I didn't attend.
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Another good rise today.It seams that all 74 wells be it only a small % in each of them
are doing well.The sky's the limit.
Long may it continue.

Results from the Thomason well due any time now. It can only be this that is driving the volume and the share price. The buying is incessant.

Lord Gnome the Thomason is the largest % so far but there's numerous smaller well % in the process of being drilled, spudded and planned, all looking very promising..

grannyboy - if you tot up all the other MAGP interests they won't add up to a fraction of what Thomason is expected to produce. This one well has the potential to treble the company's output and reserves in one fell swoop if the predictions are correct.
The real game changer, however, will be when Magnolia starts to operate and drill its own wells where they have a large percentage of any success.
The share price fell back a bit today as profit takers moved in again. Any meteoric rise without official news to support it has to be speculative and I just wish I had had the courage to sell my holding at 2.8p when I had the chance. What a profitable trading chance I've missed! The problem was that I was expecting the news on Thomason at any moment - silly me - and I didn't want to be out of it when the happened. When the news does finally arrive, I just hope that the share hasn't already burned itself out.

LG agree with what you say, i've managed to trade a small tranche of shares but as you say you don't want to be caught out when the results from Thomason arrive, so don't intend risking any selling at this time...

grannyboy - I don't know about you, but I found the results from Thomason less than impressive and far less than I had hoped for. I think Rita may have over-egged the pudding in her presentation to Moneyam investors the other night. There won't be too much to light another fire under the share price in the next couple of months so I guess it will be some time before we revisit the dizzy heights of 2.8p. I'm happy to hold these for the long term, but I wouldn't mind the odd profitable trade along the way.

Big headline Tom Bulford RHPS tip last night......buy up to 2.25p with a 12 month target of 10p! Great write up.....should explode on Wednesday!

Also tipped in The Mail on Sunday today.Looking good for Wednesday.

Magnolia Petroleum (LON:MAGP) soared another 20% to 2.375p at the mid-price during afternoon trading, possibly reacting once again to the news from last week that said initial production rates of 124 bopd, or barrels of oil per day, and 2,032 mcfpd, or thousand cubic feet per day, for the Thomason 10-27-12 H1 well in the Mississippi Lime Formation in Oklahoma. Output is mainly liquids rich gas with an oil equivalent production rate of 441 boepd, or barrels of oil equivalent per day. Magnolia holds a 12.5% working interest and a 9.375% net revenue interest in the Thomason well so the net initial production attributable to Magnolia arising from the Thomason is 41 boepd. Remains on course to increase the number of wells in which it has an interest in to 100 by the end of the year.



Read more: http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Premier_Oil_Nautical_Petroleum_and_Afren/dcbe6c618b99.aspx#ixzz1x1xKWGVJ


http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Premier_Oil_Nautical_Petroleum_and_Afren/dcbe6c618b99.aspx

Another good report today.Now upto 89 wells.Looking good for a nice rise today Get in.

Looking good for another day up 6%.I'm just glad that only 5 of us now about these shares just think if everyone knew about them.

Perhaps your name puts investors off. Its the unlucky.lol

Unlucky I have been until this little share popped up.Rita is not a lady to mess with, this is her third company she has help grow and with the other selling for a massive profit I can only hope it continues.

Looking at a 5k profit at the mo, with plenty of news to come and more wells being drilled I can only see this share going higher.

Good for you ub on your profit.

Today's fundraising news explains recent price weakness. The market always sells off when there is a placing. Insiders will dump any stock they can at above the placing price. Looks like we are now cashed up for the next round of expansion. That's funds raised at 0.55p, 1.3p and now 2.125p in less than a year. Hopefully the next time we need to raise funds it will be at somewhere in excess of 3p.

Yet another rns, the downside to having a miniscule interest in so many wells must be the cost attached to the release of news for each well.
2517

Breakout today here,,,,,,,,,

Wow...16 barrels of oil net and I think 3 in the other....enough to fill a couple of Brandts and a few Bollingers....

Reminds me of Nighthawk.....

RF----HAWK were 36p ish 2 years ago so i'll settle for that with MAGP, who finished yesterday up 3% after being 17% to the good before the rns re fundraising was released. Back on track today.
2517

It's the production that's pitiful.....a joke....one of the wells net : 2.3 barrels of oil per day....please.....and yet....the sp is rising...

Yes, RF, but when you have 100+ of them, you have spread your risk and they all add up. The real game changer here will be when they drill their own wells on their own acreage as operator. You are buying huge potential here cf the current market cap. At present, though, I have to agree that the share price is 'up with events'.

Yep the big prize is the Mississippi formation. Plenty of news flow to come with up to 24 wells to be drilled over the next 2 years or so.
2517

Rf you got a cheek with only gas in your fogl stash.....

Exactly....at least they have some oil.....with lots more to come!!

I'll tell you what : I am not going to exchange Loligo for 2.3 barrels of oil net !....

This will take a bit of a drop on the 5th oct, so am waiting to see what happens.,.

why 5th Oct?

another 52 mil shares been added

Rf, I have found through experience not to fall in love with a share as you could go down with it.

There is more big drill news before 5th Oct. I understand what you are saying.....but if the drill news is good (better than expected) the additional shares should not make much difference.....but it could be a great opportunity to top up if it does dip a bit!
As before, they will use the additional funding to good use.

Well respected management.
2517

The only way these shares are going are up. From 0.57 to 3.28 a 475% rise.
They may have only a small % in each well but as Lord Gnome said they all add up
and with the 4000+ acreage and 100% owned the sky is the limit.

Pumping "nodding donkeys".. cost a lot to put into place...so the question is ;....how long to a real profit ?.....

and how much are space craft to carry your gas rf.....

RHPS update.....Bulford says.....While FOGL is a big gamble, MAGP is a lower risk play on the renaissance of the US on-shore oil business. On Monday Magnolia raised £1.25M through a share issue at 2.4p and the price has responded by fizzing upwards through my buy limit. When a share price goes up in spite of the extra supply of shares from a placing that is usually a positive sign. My target is 10p and I am raising the buy limit to 3.5p.

Have you bought MAGP yet RF??

Why would want he want to buy a share that 's going to make a profit.

No...perhaps should have but I have too many shares in negative territory so....just have to wait.....it's the production levels that are paltry.....this is a sp ramp. tip, rise....

Another good rise yesterday and with today's news of it's own drilling the sky is the limit.

In a week or so ago, and yes in profit, tends to blossom in the morning and retreat a bit pm..... bit like cyners.,.

UBS ups stake to 10% from 4%.Some likes these shares.

I do at the mo.,.

Now we're on a roll.,.

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Quite an amazing climb. If we do eventually get the good news from Prucha we will shoot well past 5p. Sooner or later this bubble is going to burst and we will see a nasty pull back and a lot of burnt fingers - but until then let's just enjoy the ride.

Probably going to be a bubble burst...missed out on this...was put off by the chickenfeed production...what is it ?... 100 barrels per day with a 40 million market cap !...ridiculous....

at least it's not GAS........

Time to put trailing stop in place monday me thinks.,.

Well done to all investors.

RF.....you need to do the research..... it is not only about production....there is alot of other things going behind the scenes. Increasing acreage in prime areas ready to drill. Big institutions (UBS) increasing their stakes (10%). Check it out?

I know I should have bought some but I fear this is another bubble burst stock....it's even worst than Nighthawk....but well done to those who had the faith....but I would jump out at a certain stage because 1 or 2 % of a nodding nelly even in hundreds does not amount to much...and market cap is already 40 million ! plus...

I have top sliced at 3.94p and 4.8p after buying at 1.24p and 1.41p......waiting for a re-entry?? I bet like alot of other people as well...but when is it going to re-trace?? We still await big drilling news from Prucha and others.....decisions decisions!

Having bought the proverbial shedload @ 0.91p I have taken some profit twice on the way up and what I still hold I shall keep. I'm sceptical about having so many small stakes in so many wells, but it seems to be working and the big prize is still to come. Good luck all.
2517

well done george, looks like you made good profit.,.

good start with a bit of profit taking after 25mins lol. expect good day to come.,.

BB sorry for the tardy reply, yes I have done really well with MAGP and I shall hang on to what I hold. QPP are doing excellent (in @ 5.65p) as are AMER (in @15p) although I have often traded these, again I intend to hold on to what I have in both QPP and AMER.
2517

MAGP have 86 wells in US but maybe no oil.

parrisf ,do some proper research before making ill informed remarks they do not help anyone,they just make you look stupid.

Interesting release from MAGP, almost an honest driller :-0)



Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas

14 January 2013

Magnolia Petroleum Plc (`Magnolia' or `the Company')

Comment on Speculation

Magnolia Petroleum Plc, the AIM quoted US onshore focused oil and gas
exploration and production company, notes the speculation on internet bulletin
boards over the weekend regarding production rates at the Prucha 1-23MH and
Brandt 31-28-12 1H wells.

The figures mentioned are not initial production rates but derive from early 24
hour test runs by the operator. Such test runs are undertaken as part of the
standard practice and provide a guide to the operator as to the appropriate
actions required to bring the well into full production. Shareholders should
note that there is no simple correlation between the results of a 24 hour test
run and the eventual initial production rates and that the former can be
misleading. The Company will be apprised of initial production rates in due
course and will then inform shareholders.

Something big going to happen here, directors buying in big time.,.

Magnolia Petroleum Plc(`Magnolia' or `the Company')

Directors' Dealings

Magnolia Petroleum Plc, the AIM quoted US onshore oil and gas exploration and
production company, received notification on 25 January 2013 that Steven Snead,
the CEO, Ronald Harwood, a non-executive director, and Gavin Burnell, a
non-executive director, have each made the following purchases in the ordinary
shares of the Company:

Director Date of Ordinary Price Subsequent % of Issued
Purchase Shares paid Holding Share
Purchased Capital

Steven Snead 25 Jan 2013 500,000 2.9p 200,415,998 23.56

Ronald 24 Jan 2013 850,000 2.9p 30,582,426 3.60
Harwood

Gavin 25 Jan 2013 200,000 2.92p 14,385,797 1.69
Burnell

sp lively to day.
2517

bought back the 50% i sold earlier at 2.9p when the directors bought.,.

how many buckets of oil are they producing?

Just a smidgen compared to what they are going to produce.
2517

little apples..... hali.,.

This company constantly talks about acerage rather than boped reminds us of HAWK look at their sales .....peanuts!

MAGP is definitely oil, not a peanut in sight. It was Jimmy Carter that made a fortune from peanut---wells, ha!ha!

halifax - I understand the point that you are making, but you have to buy some things on potential. If you wait until the potential has already been achieved, then the share price will already reflect that and there will be no money to be made.

agreed, as long as news flows regularly there will be interest.,.

Excellent news.
2517

bought in today ..onwards and upwards!

Watch this. It will take approx. 30 minutes of your time, but will answer any concerns that you may have about the company, its strategy and its future prospects. Makes me want to buy even more!


http://www.iii.co.uk/interface/profile/LSE%3AMAGP

Fourth straight day of rises. I hereby declare the downtrend well and truly broken. Good news continues to pour from this company. We'll hit new highs before the year end.

Another excellent rns with the number of boepd up significantly over recent months but sp still struggling to reach 3p.
2517

The market response to continued good news coming from MAGP is nothing short of dismal - but you could say that about any small AIM oiler. You just can't give the shares away at present. Until sentiment changes towards the sector, this is going nowhere. Perhaps allowing AIM shares into ISAs might give a short term boost this autumn.

Good results, profitable company and output set to continue to rise. I was sceptical about the minute holdings in wells, but it seems to be paying off. Wells where MAGP have a sizeable interest to come. Broker buy and TP of 4.60p. All in all it looks very promising.
2517

Keep your fingers crossed George, but it does look as though the worm has finally turned. The weight of good news from Maggie looks to have put some support under the share price and I notice WINS have been on the bid a lot these last few days. Looks like they could have a buyer who is keen to accumulate. Lots more to come here.

News on loan funding yesterday looks to have gone down well. A couple of small Director buys have also been received positively. All we need now is a bit of good news from the drill bit and we will be well away.

We are still looking good here and the director buys were perfect timing,this has been
one of my best stocks in the last 12 months.Have just also gone into NCT which will
replicate the gains made here IMO.

And up we go again. All we need now is a positive drilling update ad we are off to the races.

Who Should Attend?Date:

Wednesday 4th November 2015

Venue:

Novotel Tower Bridge, London EC3N, 10 Pepys Street, London, EC3N 2NR

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