Thursday May 23, 2019
Photo Article - a Woodlarks training walk up the River Dee
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PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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Magnolia Petroleum – 10 Reasons to Avoid a Bulletin Board darling: shares are 75% overvalued

Please share this article with your comrades in revolutionary capitalism

- Tom Winnifrith

AIM listed Magnolia Petroleum (MAGP) used to be a bit of a Bulletin Board darling as its shares soared to 6p plus. The shares are now 2.2p, the house broker reckons they are worth 4.2p but a £20 million price tag really seems far too high for me. I’d sell now and look elsewhere. Sorry to enrage its devoted Bulletin Board followers but here are 10 reasons why.

  1. The history of US onshore oil companies that list on Aim is dire. I have been in this game for 25 years and struggle to think of a success. I can think of numerous failures. If you have quality assets you raise funding in the US, the reverse is invariably true.
Read the full article on Shareprophets | Comments
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