Mart Resources Inc MAUXF

Hope Wade does this

[molymoney]

Brings dividend to 10 cents per share quartely when he has stockpiled enough money to sustain it after the shell pipeline is in full use , as in MMT is getting about 25000 bod net cash flow

 

MM

[Swing4theFence]

Yeah, good call - I calculate a rough current payout ratio of about 25% based on 12,500 bod I come up with cashflow of around $300 million.  Dividends of $75 million per year at 20 cents.  If they move the needle higher on production they could very well increase the dividend down the road.  Actually, it wouldn't surprise me if that first quarterly dividend is increased

[stockpeeker]

Keep in mind that the 5yr tax holiday on Umusadege ends late 2013 (or early 2014) I think.  After that, royalties will increase substantially, so we shouldn't expect dividends to go up very much in 2013, if at all.  As implied in Wade's talk at the AGM, they must be anxious to participate in additional marginal field exploration, as that would buy them another 5yr tax holiday in

[JustforFun7]

"which would seem to have substantial dilutive impact to existing shareholders."    how do you figure that? and why would Martr management ever agree to such a thing. Certainly you would expect more shares but you would also expect more assets to be added to the mix.     Come one man, give it a little thought before you express  such opinions.    JFF7

[CalifDreaming]

?????   The 5 year Petroleum Profits Tax holiday is a "tax" holiday (difficult to figure that one out, eh?), so why would royalties increase as you suggest?  Taxes will rise substantially (about 40%) when the PPT holiday expires, but production will rise even faster (about 100%).  So net effect is a big  increase in earnings.  Which means good potential for

[stockpeeker]

It's hard to be sure at this point how any furture business combination may be structured, and it's hard to gauge what the future effect will be to existing shareholders, but there is certainly some risk that existing shareholders will lose some of the benefits of future growth if the company must be 60% owned by Nigerian shareholders.   Hopefully the value proposition of any future

[CalifDreaming]

  ? Payout ratio is much higher - closer to 50% at current oil prices. ~12,500 bopd is gross production.  MMT has been seeing ~65% net range during cost recovery over most of the last year (Q1 was high due to lots of activity), so say ~8200 net at current rates.  They might see a boost if AGIP gives them a bit more export capacity, but that can't be counted on - will have to