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Magnolia Petroleum - it even fucks up its admission that it is fucked

2018-06-06 06:37:51

Set to delist from AIM, drowning in debt, burning cash, run by the poltroon Rita Whittingham with her love of a bloated pay cheque for herself and family members, Magnolia Petroleum (MAGP) was already the laughing stock of the AIM Casino.  But today it took its incompetence to a new level.  At 1.43 PM it announced...


Magnolia Shocker - to delist from the AIM casino - why is the board not being sacked?

2018-05-23 02:27:39

I have repeatedly warned against investing in Gavin Burnell of Globo infamy creation Magnolia Petroleum (MAGP). Drowning in debt, burning cash and paying vast sums to CEO Rita Whittingham and her ghastly relatives on the payroll this is a dog. Today the company says that it is going to try and sell some of its (crap) assets and to save £100,000 it will delist from AIM. It could save far more by firing its deadwood staff. The shares have plunged 65% and are now just 0.6p to sell. But you should sell. SP Angel guru, the City's No 1 oil analyst Zac "The Knife" Phillips sums up this farce perfectly.


Magnolia - a death by 1,000 cuts

2018-02-13 04:01:47

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:


Zac The Knife - a waspish sting for Magnolia dog

2017-10-09 01:14:46

Lifestyle company Magnolia Petroleum (MAGP) has started the ramp ahead of its next bailout placing with news of a share consolidation. It may fool some fools but not the City's No 1 oil analyst, Zac "the Knife" Phillips of SP Angel who is at his waspish best and opines:


Bombshell: How Rita Whittington changed her service agreement at Magnolia after GM requisition - this is attempted theft

2017-06-26 01:09:48

As we saw earlier as I relayed the sordid take of Rita, her brother and Belle Trace, not so lovely Riita Whittington, the shamed and embattled CEO at Magnolia Petroleum (MAGP) entered a service contract with her employer on 11 November 2011. On 2nd June 2017 the company received a GM request to, inter alia, fire Rita. So what to do?


P45 for Rita Whittington - how SHE made $491,500 in 3 months, trading in Magnolia's back yard

2017-06-26 00:11:32

At a number of levels this is critical and adds to the, already compelling, case for diching Rita Whittington at the forthcoming Magnolia Petroleum (MAGP) GM. Putting family on the payroll is bad enough, operational failure & misleading statement after misleading statement are clear but this is sordid.


Lies, smears & blackmail: Loathsome Rita tries to cling on at Magnolia Petroleum

2017-06-22 00:52:45

Less than lovely Rita Whittingham is doing her utmost to cling onto the gravy train for her and her relatives which is Magnolia Petroleum (MAGP). You will remember that there are moves to oust the proven failure and install one director from Nostra Terra (NTOG), Evan Ainsworth, and an independent director, Zac "The Knife" Phillips, the City's No 1 oil analyst. This would not be a change of control as Rita asserts since The Knife is independent, but a much needed boardroom clearout. Now to the defence document which is worthy of Jeffrey Archer. It is just low grade fiction.


Magnolia Petroleum - why Rita Whittingham must be fired Part 3 - duping mug punters

2017-06-18 02:33:05

Earlier today i showed how Magnolia Petroleum (MAGP) has become a gravy train not just for CEO, not so lovely Rita Whittingham, but for her extended family as well. But when the operations are not generating cash how to fund the gravy train? Shimples: pump the stock with misleading RNS statements and do a discounted placing. Rinse and repeat. Want an example (for there are many)? Here goes.


Magnolia Petroleum Part 1:-Back Zac "The Knife" Phillips and Sack Rita Whittingham

2017-06-18 02:23:07

And so the battle lines are drawn at Magnolia Petroleum (MAGP), the dash guzzling worthless AIM POS founded by Gavin Burnell of Globo infamy. On the one hand there is an overpaid incumbent board led by less than lovely Rita Whittingham and backed by an overpaid army of crony capitalist advisers. On the other side are Even Ainsworth from Nostra Terra (NTOG) and Zac "The Knife" Philips, the City's top oil analyst. Magnolia has accepted that a GM request to outs less than lovely Rita and appoint Ainsorth and The Knife is valid. So what is the voting maths?


Magnolia Petroleum - sack the board!

2017-06-02 03:16:45

It really does not make any difference who is steering the Titanic once its hit the iceberg. Its going down. Actually that is a poor image for Magnolia Petroleum (MAGP) - think of a rubber dinghy holed in multiple places and weighed down with a crew who are both heavy - thanks to their grotesque pay over many years - and inept. I am not sure what good it would do firing Rita Whittingham and colleagues as this company will never generate a cent in free cashflow and its balance sheet is a wreck. However...


Magnolia Petroleum talks shit again - must be placing ahoy

2017-05-20 01:46:06

Inspector Clouseau or the Keystone Cops could work out the patterns of the great Magnolia Petroleum (MAGP) investor muggings. It's simple: CEO lovely Rita works out that Magnolia is almost out of cash. So she puts out a ramptastic press releases puffing up some meaningless and worthless garbage. Savants from the LSE asylum buy a few shares, the stock goes up and, whichever spiv broker is in-situ at the time, gets a discounted placing away. Six months later...rinse and repeat. And thus yesterday Magnolia issued an operations update. Great. Ramptastic.


Magnolia Petroleum - another dose of horseshit with added toppings of more horseshit

2016-08-05 06:24:14

Yesterday Magnolia Petroleum (MAGP) managed to raise £250,000 to keep the lights on in a massively discounted placing. Today it has served up an operating update. Why not the other way round or was this needed to try and spoof buyers so that the spiv share flippers could sell?. It is not working as this update was ramptastic horseshit.


Magnolia Petroleum another keep the lights on placing. Its pointless - this dog should be shot

2016-08-04 04:38:31

I have warned you repeatedly (the archive is HERE) that AIM listed Magnolia Petrooleum (MAGP) is a dog with fleas that exists merely to keep its useless board in well paid employment and to provide coke and hookers money for the crony capitalists. It will never make money for shareholders. Hence today we see a laughable bailout placing. Death is merely postponed.


Magnolia Petroleum - just how much did Gavin Burnell of Globo infamy make from this POS?

2016-02-22 04:49:58

Last week Magnolia Petroleum (MAGP) raised enough cash to keep the lights on for a couple of months. This POS could not generate cash at $100 oil so it is not if but when it goes bust and the odds are that it will be well before June. This POS should never have been listed by the brains behind the listing was Gavin Burnell, the financier who also brought you - and cashed in on big time - the fraud Globo (GBO).


The post ramp placing from Magnolia with a misleading RNS: insolvency merely postponed

2016-02-15 05:16:11

It was just five days ago that Magnolia Petroleum (MAGP) served up a gushing, ramptastic "operational update" neglecting to mention that it was insolvent. I warned you to sell then at 0.23p and here's why: today we saw a pitiful placing at 0.14p for spivs to flip which will keep the PLC lights on for just a couple of months more.


Magnolia Petroleum meaningless ramptastic trading update - is it insolvent yet?

2016-02-10 02:40:03

Magnolia Petroleum (MAGP) today announced that its sole broker is now Cornhill which means that a deeply discounted placing is imminent. A ramptastic trading statement has spiked the shares by 11% to 0.18-0.23p and that may help but investors need to ask how close is Magnolia to insolvency.


Magnolia Petroleum and the danger of locking yourself into garbage

2014-07-14 10:51:12

Five months ago, Tom wrote this damning assessment of Magnolia Petroleum’s (MAGP) business model and market capitalisation. So far, his view has been entirely vindicated. Despite the howls of protests from Magnolia’s ardent supporters, not to mention the absurd accusations I’ve read over the months accusing ShareProphets of being involved in a shorting conspiracy, I actually don’t think Tom went far enough in his criticism of this company. The business model is not clever and it is not shrewd. If you told American private investors about what this company did, they’d laugh at you. There is a very good reason why this company is listed here, with its American holdings, American directors and American headquarters. And I’m afraid to say that reason isn’t because certain British private investors represent the savviest money in global markets...


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

2014-02-17 12:48:43

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.


Magnolia Petroleum: Last Chance Support At Former 2012 Peak

2014-01-20 08:02:54

Magnolia Petroleum (MAGP) may be a Bulletin Board darling but it is never good news when you call up a chart and have to check that you typed in the EPIC code correctly as the share price is 50% lower than you were expecting. Unfortunately, this is what happened to the Closet Chartist to start this week as far as the latest investigation of the technical of this much followed minnow.


Magnolia Petroleum – Drilling Update: Northland says shares to go from 2.5p to 4.6p

2013-12-11 11:42:46

AIM listed North American oil producer Magnolia Petroleum (MAGP) has today issued what appears to be a strong update on its drilling programme in Dakota. House broker reckons that there is no need to alter forecasts but has reiterated its stance of buy at 3.5p with a 4.6p target in a note out today.


Buy Magnolia Petroleum (MAGP): The Return Of The Rally

2013-06-03 07:11:24

It would appear that the name of the game as far as speculating successfully in the small/minnow area is to be able to time correctly when a company such as Magnolia Petroleum will deliver the second leg of a recent spike in the share price.


Magnolia Petroleum a buy at 2.5p target 4.6p: Northland Initiates coverage

2013-05-22 07:59:25

Northland Securities has initiated its coverage of AIM listed Magnolia Petroleum at 2.5p with a 4.6p price target. A detailed note describes Magnolia as a breath of fresh air.


Sell Magnolia Petroleum: Multiple 3.5p Failures Imply 2p Zone Retest

2013-05-09 07:55:04

Having done a “Michael Fish” over there likely to be no meltdown at Quindell Portfolio earlier today (feel free to Google him), there will be no prisoners taken as far as the downside is concerned at struggling stocks. Example 1 is Magnolia Petroleum.


Buy Magnolia Petroleum (MAGP): Right On The Line

2013-04-25 05:43:33

With much followed Magnolia Petroleum we are once again faced with the conundrum of trying to get the call on the offshore U.S. explorer correct, while trying to not hurt people’s (bulls) feelings in the manner of say a Gulf Keystone (GKP) ahead of its shares tanking this week.

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