MGM Energy Corp MGMCF

will a new JV deal will be better than the last deal???

[shambano1]

MGX is searching for a JV partner to help fund the drilling of more wells on their properties.

A deal could be announced soon or it could take weeks if not months since they are not drilling any wells this winter.

I'm going to assume that any deal they do sign will be a better deal than the last one.  I think MGX wil look back and thank Shell for not drilling the second well and getting a higher interest in the land parcel.

the more information that comes out about teh canol shale, again assuming positive news the better deal MGX will sign, so more money for less interest and in the end that's what MGX future for the canol development is all about.

It's not about MGX being the operator and raising billions to develop this play, no my friends that will never happen, it's about keeping as much interest in the producing fields are they can and using other people's money to get there.

The difference between 5-20% interest in billions of revenues is significant to a smaller company.

so I am using these dreadful tax loss selling days and maybe lack of news days to buy more shares but make no mistake there is still risk in this play but day by day we will get information that either reduces the risk, hopefully.

MGM will report some news about their Canol lands, but  maybe it's better to keep as much information as possible tight until a deal is sigfned???

just speculating here, so DYODD