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Magnolia Petroleum, Falcon Oil & Gas and Paragon Diamonds at next Proactive forum

This time, we will be globetrotting with Falcon Oil & Gas (LON:FOG), Magnolia Petroleum (LON:MAGP) and Paragon Diamonds (LON:PRG) at the Chesterfield Mayfair Hotel in London on Thursday, May 2.


Proactive Investors invites you to join us at another one2one forum where we will be showcasing three more exciting junior companies.

This time, we will be globetrotting with Falcon Oil & Gas (LON:FOG), Magnolia Petroleum (LON:MAGP) and Paragon Diamonds (LON:PRG) at the Chesterfield Mayfair Hotel in London on May 2.

---Make sure you are not disappointed and book your place here ----

Aptly named Falcon Oil & Gas is a company that clearly enjoys spreading its wings. 

It has interests covering some 14.7mln acres in Australia, South Africa and Hungary. 

All three regions contain assets that are potential game changers for the company, with the nearest to fruition being the group’s Beetaloo exploration permits in Australia. 

The chairman is John Craven, who was the guiding light behind Cove Energy, while the chief executive is Philip O’Quigley, who helped bring E&P favourite Providence Resources to prominence.

Falcon's strategy is to leverage the company's expertise in the unconventional oil and gas industry to acquire interests in licences covering large acreages of land in countries that support the exploitation of unconventional oil and gas. Joining us will be Philip O’Quigley.

Meanwhile, Magnolia Petroleum was the third best performing share on the London stock exchange last year, rising an eye-popping 500%.

The AIM-listed company is focused on the USA, where it has stakes in 104 producing properties, as well as non-producing assets, largely located in North Dakota and Oklahoma. Recent news flow has been uniformly positive. In early April, the company agreed a deal with Fairmount Energy to acquire additional acreage in the Mississippi Lime play.  And in the middle of the month it revealed a five-fold increase in the value of it oil reserves to US$94mln. 

The competent person’s report also identified that there could be as many as 696 additional drilling locations within the 7,866 acres Magnolia has acquired in Montana, in what is believed to be an extension of the prolific Bakken formation. Here to tell us more is chief operations officer Rita Whittington.

Last but not least, Paragon Diamonds (LON:PRG) is certainly at an exciting and crucial juncture in its development.

It wants to soon start trial mining 100,000 tonnes of material at its Lemphane kimberlite project in Lesotho - a prolific diamond address - ahead of a decision on full scale production.

Progress has been rapid this year and a recent scoping study has shown the project's favourable economics, with a life of mine of ten years and project revenue over the decade put at US$892.5 million.

All-in costs of mining an anticipated 27 million tonnes of kimberlite have been estimated at less than US$20 per tonne, while capital costs are put at less than US$5 a tonne.

The firm owns 85% of the project and is currently working to publish a maiden mineral resource.

As well as its three projects in Lesotho, the firm also has projects in Zambia, Botswana and Tanzania.

Please join us at 5:45pm to get yourself a seat and to allow for a prompt 6:00pm start. Each company has approximately 30 minutes to give a short presentation and for Q&A.

Following the presentations there will be a complimentary bar and an assortment of the finest hot & cold canapés, giving you the opportunity to speak with the directors and other investors.

** We will be entering guests that arrive before 6pm into our prize draw to win a case of fine champagne that we’ll be giving away after the presentations have finished **

Quick facts: Magnolia Petroleum PLC

Price: - -

Market: AIM
Market Cap: -

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