OTCPK:MAUXF - Post by User
Comment by
ncideron May 30, 2012 12:32am
382 Views
Post# 19959291
RE: From the MDA
RE: From the MDA Interesting tid bit. Shoe is now on the other foot.
There was no liability for deficit oil as at March 31, 2012 or December 31, 2011. A situation in which oil has not been nominated nor paid for but delivered to ENI is called an "under lift". As at March 31, 2012 the Umusadege field had an under lift of 452,790 bbls. Since Mart is in cost recovery, Mart is entitled to 82.5% of the under lift or 373,552 bbls of the under lift at March 31, 2012. At March 31, 2012 Mart has recorded a receivable of $38,708,758 for the under lift.