sorry to all but this doesn't loo that good,it would appear from looking at magnus Annual report they sold the bulk of their Eagle Ford Project back in 2012 early 2013, and this is what they were left with, or what no one wanted. The 400 BOED is just that not BOD, this could only be 50% oil or less, making drill in economic as cash flow is real low.
On the figures mentioned the proven resources in this acerage is only .5 MBO or 500,000 BOE, and the value attributed to the acreage was $ 10 million, we are paying $ 24 mill.
The reason the share price is tanking is NSE is being sucked in and Management, are letting us down.
All MHO, but have a read
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