Mart Resources Inc MAUXF

Q3 VS Q4

[aazzcux]

I believe there was a 90 deferral of oil recovery costs and drilling started in early July. Thus I expect Mart's share to be 82.5% for Q4 till costs are recovered, probably in 30-60days. Meanwhile Q3 share will be at the lowest level, 50%.

Just my opinion. Bunkering is a big ongoing problem and getting worse. Serious actions need to be taken by gov't, military and pipeline operators to minimize it asap.

Still don't understand why it will take another 2 months to complete testing ? More zones = more time ??

[oullins]

Correct they have a 90 days deferral of cost recovery for UMU10 . That was the way to convince the partners to go ahead and drill.  They will have some UMU10 cost recovered in Q3 but the bulk will be in Q4.  Drilling is not the only cost that can be recovered.  Facilities and some SG&A qualify for recovery.   Cheers

[grandpama4]

Was your understanding that all capial cots recoveries relating to UMU 10 would be deferred for 90 days as the MD&A is not clear if it is all or costs up to spuding date of July 4 would be deferred. We obviously had incurred $ 1,964,360 to June 30 as these have been included in acounts receivable. Does the deferral effect our % of oil produced and sold or ONLY OUR CASH FLOW as we are

[pistolpete96]

From the August 29th release: Mart has been informed that the line losses for July are approximately 10%, which is higher than Mart and its co-venturers generally expect, but could indicate that losses in Q212 were anomalous. From today's release: July 2012 reported pipeline and export facility losses were 56,000 barrels or approximately 13.8% of total crude deliveries.   Did they

[oullins]

Not sure at that level of detail but I assume all cost associated with UMU10 were differed 90 days.  Costs are counted on a monthly basis if I recall and paid back in oil the following month.   This is a level of detail that does not make much difference if you look at the all year, you can drive yourself crazy if you try to figure out what spills over from one month to the

[neugrufti]

Read the news release again. The loss was 56,000 barrels, the same as reported in the August 29th release. The percentage delivery is not due to a change in reported losses, but likely a difference in the amount of total crude deliveries being less than expected for July, bumping up the percentage. Not that its a good thing, just that the reported loss didn't chane, the crude delivery

[grandpama4]

I agree and most costs will reeinbursed by Dec/31. As for paying of dividends even wit the $ 36 million of dividends paid in July and October these dividends plus the January /2013 dividend payment of $18 milion all these should easily be covered by the Q3 plus Q4 cash flow leaving us with $ 80 to $ 100 million going forward. MMT is a cash cow and we will really see this once our pipeline is

[molymoney]

From the August 29th release: Mart has been informed that the line losses for July are approximately 10%, which is higher than Mart and its co-venturers generally expect, but could indicate that losses in Q212 were anomalous. From today's release: July 2012 reported pipeline and export facility losses were 56,000 barrels or approximately 13.8% of total crude deliveries. MM: Pistolpete LOL

[themangokid]

mart is at the mercy of the pipeline operator.  they can tell you 10% one day then a few weeks later the operator can tell you 14% and there is essentially very little we can do about it.  its just a matter of fact. the 2nd pipeline I'm guessing will mitigate the losses a bit but it'll still probably be something investors will have to accept or at least tolerate till we