Meet the Management: Magnolia Petroleum

Friday, May 25 2012 by
5
Meet the Management Magnolia Petroleum

Magnolia Petroleum (LON:MAGP) is an AIM listed independent oil and gas exploration and production company, targeting prime areas of US oil and gas development in North Dakota and Oklahoma.  Having been invested in Magnolia Petroleum since the company moved onto the AIM during late 2011, and having previously conducted a satellite Q&A interview with Rita Fern Whittington, the Magnolia Petroleum, Chief Operations Officer, I was delighted to have the opportunity to meet up with her in person at the St Brides Media and Finance office at Bow Lane yesterday.

I was actually visiting London this week primarily to attend the Annual Retail Lecture, delivered by the John Lewis Chairman, Charlie Mayfield at the very impressive Willis building.  The lecture was very insightful and useful to me as a Business Studies Lecturer (as opposed to the usual staff development such as using SMART boards or differentiation or health and safety!)  and threw many thought provoking ideas with regards to the sector going forward. So while in town, I decided to make the most of my time and met up with Rita Whittington and also separately, Gerald Cheyne of Kalimantan Gold (LON:KLG) for a pleasant Starbucks coffee and catch up following the recent Q&A.  

A big part of my investing strategy is the quality of management and how approachable they are especially to the private investors and I must say that the experience of meeting Rita Whittington was for me personally a total pleasure and I found her a very warm, realistic and sincere person.  Rita, a Petroleum Landman with 32 years experience in the oil and gas industry was clearly very knowledgeable about the operational aspects, the O&G sector and the opportunities that Magnolia were hoping to capitalise on.  Previously, I have met up with many O&G bosses, and it’s on occasions a big spin from beginning to end with a big promise of jam tomorrow, Rita stuck to the facts, highlighting what they have achieved to date, where they are going and the plan to get to there.  After meeting up with Rita, it has reaffirmed my personal investment strategy for Magnolia Petroleum.   

To start off, I asked Rita, what do you hope to achieve during your visit to the capital and can you give us a flavour of the meetings and appointments you…

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Disclaimer:  

This content has been created for information purposes only, and is NOT, in any way, a recommendation to invest.  This communication is a snapshot of a certain aspect of a discussed business at a moment in time, and is merely a basic starting point for research.  The article/thread has been created with honesty and integrity in mind and is based on publically available information sourced in relation to the title, such as from, RNS announcements, published reports, management comments, analyst reports, media coverage etc.  To this extent the author who has written the piece in good faith accepts no liability for the accuracy of the information and urges all readers to verify the content independently.  Please note that the value of investments may fall or rise and you may not get back the amount originally invested, or in some cases your investment may be wiped off altogether.  When investing, bear in mind that past performance is not a guide to future performance and that qualified independent financial advice should be sought before buying or selling shares.  The Author of this article may hold shares in the companies discussed.


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Magnolia Petroleum plc is a United Kingdom-based oil and gas production company. The Company acts as a holding company and conducts its business through its subsidiary, Magnolia Petroleum Inc. (Magnolia), an independent oil and gas exploration and production company. The Company, through Magnolia, is principally engaged in the acquisition, exploitation and development of oil and gas properties primarily located onshore in the United States. Magnolia holds leases in respect of approximately 11,520 gross acres across 28 sections, equating to around 421 net mineral acres within the boundaries of the Bakken/Three Forks Sanish formations. Magnolia holds leases covering approximately 5,500 net mineral acres in the Mississippi Lime formation in Oklahoma. Magnolia also holds leases in the Woodford formation in Oklahoma and interests in five wells from various other formations in Oklahoma, such as Hunton, Springer and Cleveland. more »

Share Price (AIM)
0.19p
Change
2.7%
Mkt Cap (£m)
2.0
P/E (fwd)
n/a
Yield (fwd)
n/a



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About Elias Jones

Elias Jones

I invest in sectors that are of interest to me and tend to look for the penny share AIM companies that have the transformational potential, which also tend to be by nature high risk investments, some come off some fail. One key aspect of investing for me is the approachability, quality and integrity of management, once I fear those have gone or if the fundamental aspects take a nose dive, that’s usually it for me regardless of asset/future potential. I only invest in a clutch of firms and usually keep an eye on a few other potential firms which I may add at some stage. I don’t mind waiting around if there is potential, I still keep my Marconi certificate to remind me of what can happen, and to the day kick myself for not snapping up Next at 18p many moons ago when I was so close to buying! more »

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