OTCPK:MAUXF - Post by User
Comment by
kellermancon Jun 06, 2013 11:44am
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Post# 21492630
RE: RE: RE: RE: RE: Mart
RE: RE: RE: RE: RE: Mart If no oil is coming down the pipe, then you stopped bunkering theives from taking the asset. We bleed, they bleed. Also the pipeline needed fixed, loosing 20 % of the OIL is just not smart.
I would rather have taken the hit now then later. Besides, the 20 % gains that we get back into sales on OIL will build cash flow quickly. Also they had Nigeria Gov support, Gov seized all those bunkering boats and theives caught. It was coming to a head and something had to done.
I believe Mart played it smart.
The bunkering issue will probably never go away in Nigeria. It's all about how MANAGEMENT handles the problem.