OTCPK:MAUXF - Post by User
Comment by
turks1on Sep 24, 2009 1:10pm
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Post# 16335492
RE: Nig erian games again
RE: Nig erian games again
Good post,Olmert. You seem to know more about this company than most of us.
If this deal does not go through can we survive and grow? From what I have heard we do not have enough cash to do any drilling and as you mentioned we are in default with our partners in the Ke and Que Ibo concessions.
Probably better to sell and move on although I had high hopes for this company. Had their own drilling rigs, known discoveries on three concessions by majors and excellent contracts with their partners with 90 % or more of the oil till payout. Go figure.
Hoping that if the deal does not go through we can survive and make a real company here.
Pretty stupid thought!! Although oil is higher and op costs are less so we should be able to pay off our debt.