OTCPK:MAUXF - Post by User
Comment by
wallgreenson Aug 25, 2015 9:43am
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Post# 24048524
RE:update
RE:updateThat was a well timed positive ops update. Less than 1 day of downtime in July b/c they were able to alternate production between the Trans Forcados and NAOC export pipelines. Not too shabby. It still hurts to see the losses but couldnt help but notice how much more detail they put in this update about the loss assumptions...and stating that they are going to actually further investigate the losses by asking for more information from the operators of the Trans Forcados export pipeline and the Forcados oil export terminal...what a novel idea.
UMU-14H was landed successfully with 1000' lateral is also good news. I'm expecting 4000-5000 bopd IP. They could be concerned about depletion since they mention the pressure build-ups.
All-in-all, very positive and well written update. If you are reading this and thinking, wow, this guy is ignoring the current dismal state of this company...I'm not, I feel the pain. The operations are the only thing I have faith in. If they could really tighten their belt I like to think they could keep operating through this downturn and try to survive it. Then the current sp or a 0.50 or 0.80 buyout would sound ridiculous like it did a year ago. Telling MW to pay up on that deal break fee would also feel good.
What a drama...at least I feel like I'm getting some entertainment for my money lost!