Magnolia - a death by 1,000 cuts

I was never taken in by Rita Whittingham's supposedly game changing deal for Magnolia (MAGP) with Western Energy Development. I saw it as nothing more than a way of creating a 29.9% shareholder who would save her miserable skin at an EGM called to oust her after she had stuck her talentless family on the payroll as she mismanaged the company to death. Some were more charitable, such as the City's No 1 oil analyst Zac "the Knife" Phillips of SP Angel, but Zac has seen the light and today sticks the boot in with the shares at 4.65p (post consolidation) and thus still firmly in the minus 99% club. The Knife opines:

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