RE: Whatever happened to Oullins? It was quite a wedding and a very nice trip in Provence after that. I recycled some of my Mart dividend in the British and French economies.
I have been back since the 27th and quite busy working the phone. I realize that Mart started to go back up at the same time I came back but the recent increase in share price had of course nothing to do with it.
I will write more on Mart later but here are a few tidbits:
We should have some news on UMU10 any time now. It will be no surprise for some of us that remember the total flow rate of UMU 6, 7, 8, 9 but I think it maybe a shock for people that do not read anything older than one week.
New pipeline is doing just fine. BTW just for the newbies this is not a "Shell pipeline" this is a 54km pipeline built by a joint venture of Mart's partners, the Nigerian local Gov and a few neighbors of Mart. Mart will have 15% equity. We already have a crude purchase agreement what we are waiting for is the crude handling and tariff agreement. Should be signed this month IMO as long as the lawyers get off the golf course. My understanding is that work on the construction preparation of the pipeline is ongoing. What this means is that the 12 months clock already started. End of Q3 flow is a real possibility.
Monthly report should be out soon. My understanding is that the company will now report actual sale numbers. It means the # of barrels what comes out at the end of the pipeline and gets loaded on the tanker. I much prefer that under the NFS rule (No Fun Surprises rule).
The next well is the interesting part. I think they will go West since the road system is already done. This would be a huge step out since it is more than 2 KM from UMU10. Just think reserves!!! After that I think they will do the horizontal they talked about for quite some time. This one could bring around 8K (6K net since it is a reentry of an existing 2K well). We could be in the 30K to 35K range when the new pipeline is open. $$$$$CF
I have a lot of other interests outside of Mart and they have kept me busy.
Porto (PEC) having a very nice day today
Sterling (SLG) Black sea oil. A lot of events in the next 60 days
Petaquilla (PTQ) gold in Panama. I heard a new purchase offer is in the works. Could be a bit North of $1.00
Cheers to all