OTCPK:MAUXF - Post by User
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WHATisMONEYon Nov 06, 2010 1:41pm
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Post# 17668839
Sticking with MMT
Sticking with MMTDavid Pescod Stocktalk Late Edition, November 2, 2010
Mart Resources is the name of Verbonac’s suggestion and Verbonac’s idea is that there are several junior companies following up, kind of like the North Sea, where when they big plays were discovered, the big guys moved on. Mart Resources is coming up with some very interesting plays in the Umusadege field in Nigeria and the company is currently netting about 1920 bd. Half-way through drilling a very significant play, the UMU 6, Mart could see its production climb to 3000 to 4000 barrels a day and might well be on its way to 7500 barrels a day, according to Verbonac.
Needless to say, this is moving the potential for cash flow that he suggests could be 34 cents (and anyone who knows Verbonac knows how conservative he is. Remember he said to get into Xcite Energy at 0.35, but he was happy with a three to four bagger? It’s since become an 8-bagger…).
Mart Resources is obviously only for those with a real sense of adventure. But then, stick in a potential for 50-cents a share cash flow and use whatever multiple you can come up with and this becomes the definition of high-risk/potential high reward.MART RESOURCES (V-MMT) 0.54 +0.02.