OTCPK:MAUXF - Post by User
Comment by
CalifDreamingon May 22, 2008 2:31am
360 Views
Post# 15097560
RE: Near term triggers?
RE: Near term triggers?Next trigger is release of the second zone production testing on the first well. First zone was pleasantly surprising with stabilized production at higher rates than they tested (very unusual). Second zone should hopefully be reported in the next week or two and then they can commingle production. If they get above 5000 bpd combined, the market should be happy as they get close to Brent pricing.
Then, in late June, they'll spud the first Qua Ibo well, which has the potential to double production.
$130+ Brent is a godsend to Mart. For all their F'in around, they managed to start up at an unbelievable time. With 5000 bpd, they'll get very quick capex payback (a matter of months should give em $50MM). Hopefully, the wall of cash will jolt "top" management out of their stupor and get those rigs turning nonstop.