Mart Resources Inc MAUXF

RE: NR Financial and Operating Results

[CalifDreaming]

Give your head a shake.
<<Overall I would judge this as a poor news release with very little guidance toward future plans or explanation as to operating problems>>
Poor?  You must be from an alternate universe methinks.  How on earth can they give guidance on future plans when so much hinges on results of this test?  If rates are great, you'll get one set of guidance.  If as expected, another.  If poor, yet another.  Patently foolish to expect any rational person to give any more guidance right now.  
<<Not only did we not hear anything new about production flow rates but we still have no idea how much longer it will take to complete test on four zones or when the well will be in production. At least we know they will release news for each zone separately.>>
Huh?  What do you think they've been doing the last few weeks?  Do you think logging/coring and installing 2 tubing strings happens overnight in a place like Nigeria???  
From my perspective, I found the NR about as bullish as one could expect.  They got the dual tubing strings installed which is often a major area of problems - that they are now installing production testing equipment means they are very close, so we'll have first news soon - perhaps a week or so, depending on the test regime.
And rather than looking at the hiccups in the pipeline, the extremely low decline rate sailed over your head - zoom.  That's hugely important wrt to reserves.  That anyone is actually complaining about 12 days downtime in a place like Nigeria is almost laughable.  From all the MEND activity, the surprise is that it isn't a lot more prevalent...