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very nice. gotta wait till friday to get more for myself. im loading everything under the 200 MA
much wall, so big
monesthind is long fannie
wont open? Would this be beneficial to us or?
Doesn't it feel great to know that a stock you own gets manipulated by billionaires? ;)
June 10th @ 10am Eastern - DATAFEED UNAVAILABLE Our datafeed failed this morning and we are unable to provide updated charts at this time. Click here for more details and updates.
Where did you find this/where is this from?
you all see that 100 on the ask @4.61 by NITE for a good 5 minutes now lol with 43k on the bid @4.60
EDIT:
just changed ....
This trading, especially of late looks like hedge's trying to accumulate, the question is just how many hedge's =) ????
Maglan Capital goes long fannie and Freddie
http://www.valuewalk.com/2014/06/maglan-capital-reveals-that-it-is-long-fannie-and-freddie/
Nice find!
How do you know ackman is speaking on Monday?
To make it look pretty ;)
I agree the dilution does suck but the way they handled it this time was very nice with setting up the over-allotment option, gave us price stability and take-over resistance.
Canadian play is basically risk free though. They know that area so well, that's their bread n butter imo.
cmonnn close above 4.61!
Lemme know when you make 51 million nothing dollars :)
51 million is spare change to no one :)
Only 51 million? :$
IIROC Trading Resumption - MVN
VANCOUVER, June 4, 2014 /CNW/ - Trading resumes in:
Company: MADALENA ENERGY INC.
TSX-Venture Symbol: MVN
Resumption: 8:00 June 5, 2014
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC)
IIROC Inquiries 1-877-442-4322 (Option 2) - Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.
Copyright CNW Group 2014
http://web.tmxmoney.com/article.php?newsid=68238379&qm_symbol=MVN
Good time to buy more!
what about todays candle? just a continuation candle of the bullish trend that was confirmed yesterday?
candle stick analysis anyone? Is today's candle just a continuation pattern of the bullish move yesterday?
sure did get manipulated lol
Goldman Says Fannie, Freddie Knew $11B In MBS Were Toxic
Share us on:TwitterFacebookLinkedInBy Dan Ivers 0 Comments
Law360, New York (June 04, 2014, 1:27 PM ET) -- Goldman Sachs & Co. Inc. on Tuesday told a New York federal judge that there was “ample evidence” that Fannie Mae and Freddie Mac were aware of major defects in $11 billion worth of toxic mortgage-backed securities it bought from the bank.
In a heavily redacted memorandum, the financial titan argued that the government-sponsored mortgage enterprises had extensive knowledge of emerging problems in the mortgage market, performed due diligence measures and had been supplied with various prospectuses, reports and other documents that outlined issues with the...
http://www.law360.com/articles/544649/goldman-says-fannie-freddie-knew-11b-in-mbs-were-toxic
so why did we drop?
slow and steady wins the race =) didn't the tortoise teach you anything?
I wonder how it will effect share price. It was a great deal but maybe they valued themselves a bit too low?
IIROC Trading Halt - MVN
VANCOUVER, May 30, 2014 /CNW/ - The following issues have been halted by IIROC:
Company: Madalena Energy Inc.
TSX-Venture Symbol: MVN
Reason: Pending receipt and review of acceptable documentation regarding the Fundamental Acquisition pursuant to Listings Policy 5.3
Halt Time (ET): 11:22 AM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC)
IIROC Inquiries 1-877-442-4322 (Option 2) - Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.
Copyright CNW Group 2014
http://web.tmxmoney.com/article.php?newsid=68135466&qm_symbol=MVN
any court updates?
big wall at 4.8
after about 3.5 i've noticed that the wicks are counting as gap fillers look at the gap around march 20th, 2014, since that day the wicks have counted as gap fillers.
Madalena Announces Re-Pricing of Bought Deal Offering
CALGARY, ALBERTA--(Marketwired - June 4, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Madalena Energy Inc. ("Madalena" or the "Company") (TSX VENTURE:MVN)(PINKSHEETS:MDLNF) announces that it has re-priced its previously announced subscription receipt ("Subscription Receipts") offering. Pursuant to the amended agreement, the Company will issue 98,100,000 Subscription Receipts, on a bought deal basis, at a price of $0.51 per Common Share for aggregate gross proceeds of $50,031,000 (the "Offering").
Madalena has also granted the underwriters under the Offering an option (the "Over-Allotment Option") to purchase up to an additional 14,715,000 Subscription Receipts at a price of $0.51 per Common Share to cover over-allotments, if any, for additional gross proceeds of up to approximately $7,504,650. The Over-Allotment Option is exercisable in whole or in part at any time up to the date that is 30 days following the closing of the Offering.
As previously announced, the Company will use the net proceeds from the Offering to fund the remaining cash component for the acquisition (the "Acquisition") of the Argentinean business units of Gran Tierra Energy Inc. ("Gran Tierra"). The purchase price for the Acquisition is US$63 million, payable in US$49 million cash and US$14 million in common shares of Madalena ("Common Shares"). Pursuant to the definitive agreements underlying that Acquisition, Madalena must pay the share consideration amount at the same deemed issue price as the Offering; accordingly, Madalena will issue 29,831,537 Common Shares for the share consideration amount for the Acquisition.
The Subscription Receipts will be offered by way of a short-form prospectus to be filed in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick and Nova Scotia pursuant to National Instrument 44-101 - Short Form Prospectus Distributions. Madalena will apply to list the Subscription Receipts and the Common Shares thereunder on the TSX Venture Exchange.
The gross proceeds from the Offering will be held in escrow pending the satisfaction of all conditions to the completion of the Acquisition (other than funding), provided that the closing date of the Acquisition is on or before July 31, 2014, upon which time each Subscription Receipt will entitle the holder to receive a Common Share, without further payment or action on the part of the holder, upon the closing of the Acquisition. If the Acquisition is not completed on or before July 31, 2014 or it is terminated at an earlier time, then the purchase price for the Subscription Receipts will be returned to subscribers, together with a pro rata portion of interest earned on the escrowed funds.
Completion of the Acquisition and the Offering are subject to certain conditions including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Closing of the Offering is expected to occur on or about June 24, 2014 and the Acquisition is expected to close on or about June 30, 2014.
Madalena estimates pro forma consolidated annual cash flow from operations of US$35 - US$45 million over the next twelve months with the Corporation having the ability, when combined with cash on hand and available credit, to execute a US$50 - US$60 million capital program over the next 12 to 18 months while maintaining a strong balance sheet. Madalena will provide additional go-forward guidance subsequent to the closing of the Acquisition and the approval of a consolidated budget by the Corporation's board of directors.
Pro forma the Acquisition and the Offering and after all transaction costs, the Company estimates positive working capital of approximately US$5.0 million.
Updated Acquisition Highlights
Acquisition cost per flowing boe of approximately US$19,091, based on current estimated production at the expected closing date of the Acquisition of 3,300 boe/d;
Reserve life index of 5.41 years, based on current estimated production and adjusted 2P reserves;
Recycle ratio of approximately 2.1x, based on Q1-2014 operating property netbacks of US$33.93/boe and acquisition costs of approximately US$16.12/boe;
Key producing infrastructure, including batteries and pipelines;
Approximately 890,000 net acres of developed and undeveloped lands; and
Lands have an average working interest of approximately 83%, and the net production acquired is more than 94% operated.
The following is a summary of production, land and reserves information that is relevant to Madalena, prior to, and following, the Acquisition and the Offering:
Madalena(1) Acquisition(2) Adjustments(3) Pro Forma
Current Production(6)
Oil and NGLs (Bbl/d) 960 2,610 - 3,570
Gas (Mcf/d) 3,840 4,150 - 7990
Boe (Boe/d) 1,600 3,300 - 4,900
Oil and NGLs (%) 60 79 - 72
Land (net acres) 239,000 890,000 1,129,000
RESERVES(4)
Proved
Oil and NGL (Mbbl) 1,350 4,248 (612 ) 4,986
Gas (MMcf) 8,032 5,599 (510 ) 13,121
MBOE (6:1) 2,689 5,181 (697 ) 7,173
Proved plus Probable
Oil and NGLs (Mbbl) 2,373 6,295 (900 ) 7,768
Gas (MMcf) 13,651 7,615 (900 ) 20,366
MBOE (6:1) 4,648 7,563 (1,050 ) 11,161
Proved FDC(5) (US$mm) 20 46 (21 ) 45
Proved plus Probable FDC (US$mm) 33 77 (35 ) 75
Accretion Analysis Madalena Acquisition Pro Forma Accretion
Diluted Shares (mm) 413.5 127.9 541.4 -
Proved Reserves (Boe per mm Common Shares) 6.5 40.5 13.3 104%
2P Reserves (Boe per mm Common Shares) 11.2 59.1 20.6 83%
Current Production (Boe/d per mm Common Shares) 3.9 25.8 9.1 134%
Notes:
Based on the independent reserve reports of Madalena evaluating the crude oil, natural gas liquids and natural gas reserves of the Company as at December 31, 2013 prepared by an independent reserves evaluator in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the COGE Handbook.
Based on the independent reserve reports of Gran Tierra evaluating the crude oil, natural gas liquids and natural gas reserves of Gran Tierra as at December 31, 2013 prepared by an independent reserves evaluator in accordance with NI 51-101 and the COGE Handbook.
Adjustments to the acquisition reserves were made pursuant to internal management estimates conducted by a qualified reserves engineer. Adjustments consisted of reduced PUD locations due to rescheduling or removal of proven undeveloped and probable locations on the subject assets and acreage consolidations.
Reserves are "gross reserves", being working interest share of reserves before the deduction of royalties owned by others.
"FDC" means future development costs. Please see the end of this news release for important information on FDC. Madalena converted to US$ at 0.92US/CDN.
Based on field estimates.
About Madalena - International and Domestic Assets (Pre-Acquisition)
Madalena is an independent, Canadian-based, domestic and international upstream oil and gas company whose main business activities include exploration, development and production of crude oil, natural gas liquids and natural gas.
Internationally, Madalena holds three large blocks within the Neuquén basin in Argentina where it is focused on the delineation of large petroleum in-place shale and unconventional resources in the Vaca Muerta and Lower Agrio shales, in addition to multiple tight sand plays. The Company is also implementing horizontal drilling and completions technology to high impact international plays and is currently focused on a conventional oil play in the Sierras Blancas formation. Madalena holds approximately 132,200 net acres on the Coiron Amargo (34,950 net acres), Curamhuele (50,600 net acres) and Cortadera (46,650 net acres) blocks.
Domestically, Madalena's core area of operations is located in the Greater Paddle River area of west-central Alberta where the Company holds approximately 195 gross (153 net) sections of land (approximately 78% average W.I.) encompassing light oil and liquids-rich gas resource plays. Madalena's primary domestic focus is to exploit its large inventory of horizontal drilling locations on its Ostracod oil and emerging oil & liquids-rich gas resource plays.
Madalena trades on the TSX Venture Exchange under the symbol MVN. Basic corporate information, recent news releases and regularly updated corporate presentations are available on the Company's website at www.madalenaenergy.com.
Reader Advisories
Forward Looking Information
The information in this news release contains certain forward-looking statements. These statements relate to future events or our future performance, in particular, but not limited to, with respect to the Acquisition, including the characteristics of the Argentinean business units being acquired and other expectations related thereto and the timing thereof, the Offering and the timing thereof and the Company's expected use of proceeds from the Offering. Statements relating to "reserves" are also deemed to be forward looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and that the reserves can be profitably produced in the future. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. In particular, this news release contains forward-looking statements pertaining to operational activities to be conducted by the Company.
These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control, including: the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; fluctuations in commodity prices and foreign exchange and interest rates; stock market volatility and market valuations; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions, of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits the Company will derive from them. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements. Investors are encouraged to review and consider the additional risk factors set forth in the Company's Annual Information Form, which is available on SEDAR at www.sedar.com.
Non-GAAP Measures
This document contains the term "cash flow" and "net backs", which do not have a standardized meaning prescribed by Canadian generally accepted accounting principles ("GAAP") and therefore may not be comparable with the calculation of similar measures by other companies. Madalena uses cash flow and net backs to analyze financial and operating performance. Madalena feels this benchmark is a key measure of profitability for Madalena. This term is commonly used in the oil and gas industry. Cash flow is not intended to represent operating profits nor should it be viewed as an alternative to cash flow provided by operating activities, net earnings or other measures of financial performance calculated in accordance with GAAP. Cash flows are calculated as cash flows from operating activities less changes in non-cash working capital.
Information Regarding Disclosure on Reserves
The reserve estimates contained herein are estimates only and there is no guarantee that the estimated reserves will be recovered. In relation to the disclosure of estimates for individual properties, companies or business units, as adjusted, such estimates may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation.
Meaning of Boe
The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value.
Finding and Development Costs
NI 51-101 specifies how finding and development costs ("F&D costs") should be calculated if they are reported. Essentially NI 51-101 requires that the exploration and development costs incurred in the year along with the change in estimated F&D costs be aggregated and then divided by the applicable reserve additions. The calculation specifically excludes the effects of acquisitions and dispositions on both reserves and costs. Since acquisitions can have a significant impact on annual reserve replacement costs, excluding these amounts could result in an inaccurate portrayal of Madalena's cost structure. F&D costs disclosed herein are based on working interest gross reserves. The aggregate of the exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total F&D costs related to reserve additions for that year.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.
Kevin Shaw, P.Eng, MBA
President and Chief Executive Officer
Madalena Energy Inc.
Phone: (403) 262-1901 (Ext. 230)
kdshaw@madalenaenergy.com
Thomas Love, CA
VP, Finance and Chief Financial Officer
Madalena Energy Inc.
Phone: (403) 262-1901 (Ext. 227)
tlove@madalenaenergy.com
Yes he is in more than one. Check the court documents, he's in quite a few. (Would post but on mobile)
interesting! great find!
now check out that weekly MACD =)
a slow realization of the correct valuation =)
You better tweet at Carl let him know how you feel