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Ultra Petroleum Part Deux? From Oil and Gas to Lithium Extraction

MGX Minerals

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#1 Geomean

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Posted 13 October 2017 - 05:48 PM

For those, like me, who invested years ago in the Pinedale anticline tight gas play, it might be intriguing to hear that Marc Buner, the founding Chairman of Ultra Petroleum is at it again.  He's come out of retirement to get involved in MGX Minerals.  Interview https://www.mgxminer...n=message board

 

I became acquainted with MGX from an article last spring in an Oil and Gas publication https://www.epmag.co...m-brine-1487511  before Bruner became company Chairman in July.  In April MGX had only a test unit, but now MGX has commercialized its technology to extract lithium and other minerals from the water produced during oil and gas production.  It's ramped up from a one meter per day demonstration unit, to an operating 750 barrels per day commercial extraction unit, and has a 7500 barrel per day unit under construction. This was fascinating stuff and I've been watching it on and off ever since. 

 

MGX spiked after the early oil and gas industry press and I've been counting waves for weeks on this puppy to try to find a good wave 2 entry and today took action and purchased a starter position.  I got my investment club in it a couple of months ago and it purchased  more today.  So I'm talking my book.pirate.gif  

 

I have rarely mentioned individual stocks here, but going back to the days of Bruner's Ultra, there was a time that Ultra was mentioned frequently. 

 

Anyway, here's a recent article on the company.   https://www.equities...or-petrolithium

 

I my mind it's like when I got into Itron near the start.  As car companies turn to electric cars lithium has more demand.  Worth some study as it is a remarkable first mover story. 


Opportunity knocks on your door every day-answer it.

#2 Geomean

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Posted 16 October 2017 - 04:52 PM

MGX was up 15.8% today closing at $0.7646.  Minor wave 3 1.618 extension of the length of minor wave 1 from the bottom of minor wave 2 gives a fib target for minor 3 of $3.67  bull.gif   This will be the last post on this for a while, as individual stocks are not customary topics on this board.


Opportunity knocks on your door every day-answer it.