Good morning, Please find attached Daniel Stewarts latest research note for Magnolia Petroleum (AIM: MAGP) where the 12 month target price has been increased to 3.6p (current price 1.8p, 92% upside) on the back of the Companys acquisition of significant acreage with up to 100% working interests in the oil producing Mississippi Lime Formation in Oklahoma.

Daniel Stewart believes the acquisition of the 1,484 net acres in this exciting formation, which has doubled its lease holding in onshore US plays, will drive the growth of Magnolia and enhance its development potential. Best regards, Lottie [cid:image001.jpg@01CCED59.3BD26C20]