The Value of those US Assets
Personally I waiting for the Sale of those US Assets in Montana. Some pretty Impressive Value there to Unlock. They mentioned in the Last NR that the sales efforts were Progressing. Some Big Value to realize. That is the Oen of Many Cataysts I expet to Propel MNH shares in the Near term. Last Year teh Shares Ran to $0.20 up 250% on the Implications /impact of such sales to the Company at this Juncture.
On January 15, 2013 , The Company announced MENA is proceeding to complete the previously announced $500,000 private placement and has also received approximately $2.5 million of advances by certain officers, directors and shareholders of the Company. In addition, the Company is continuing its efforts to sell its Montana assets. These funds will be utilized to settle some of the Company''s outstanding payables and continue operations in Egypt.
In the United States, MENA owns 6,242 gross acres (with an 81.2% average working interest) in Northwestern Montana with light/medium oil reserves, and 36,201 gross acres (with a 99.5% average working interest) in East-Central Utah prospective for both commercial gas sand and coal bed methane.
Sedar Q Documents:
On January 19, 2012, the Company announced that it had engaged Moyes & Co. to assist in the disposition of its US assets in Montana and Utah. These assets were recently evaluated in a 51-101 compliant reserve report to have a NPV10 after tax value of $24 million. As at the date of this MD&A, the Company is in discussion with several parties who have expressed an interest in acquiring these assets.
I think Negotiations must be progressing for them to mention in their NR Last Months. This woud be a Real nice chunk of change to receive for teh Current Drill Programs underway in their Lagia oilfield
Folks Montana is locatd Right Next door to North Dakota, now the second-largest U.S. oil producer, is pumping 240 million barrels a year
MENA HYDROCARBONS ANNOUNCES PROCESS TO SELL US ASSETS
CALGARY, ALBERTA – January 20, 2012. MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSXV: MNH) announced that further its news release of October 11, 2011, the Company has engaged Moyes & Co. to assist in the disposition of its US assets in Montana and Utah. An evaluation of these assets was prepared by the Colorado based independent qualified reserves evaluators Gustavson Associates effective September 1, 2011. Highlights of the evaluation include:
• Net present value (discounted 10% before tax – forecast prices) of US$38.1 million (US$0.17 per MENA share) attributed to its NW Montana proven + probable (2P) reserves.
• Net present value (discounted 10% before tax – forecast prices) of US$16.7 million (US$0.07 per MENA share) attributed to its NW Montana proven (1P) reserves.
• Net present value (discounted 10% before tax – forecast prices) of US$148.4 million (US$0.66 per MENA share) attributed to its NW Montana proven + probable + possible (3P) reserves.
The evaluation was prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities. For additional information relating to the reserves and resource estimates respecting our US properties, please see Gustavson's report and the material change report of the Company dated and filed October 11, 2011, both of which are available on www.sedar.com.
MENA is also continuing to evaluate several corporate and property acquisition opportunities and will provide further updates as negotiations progress.
Last January When it was Put to the Newswires that Mena was Ready to Sell their US Assets the SP Moved Up 250% from $0.06 - $0.21 in the Span of 2 weeks....Even though Broker 01 was selling. Here is the Trade Breakdown for that Time period.
| House Positions for C:MNH from 20120116 to 20120216 |
| 46 Macquarie | 5,251,900 | 875,946 | 0.167 | 809,000 | 120,020 | 0.148 | 4,442,900 | -755,926 |
| 33 Canaccord | 2,072,500 | 347,423 | 0.168 | 1,147,866 | 185,745 | 0.162 | 924,634 | -161,678 |
| 7 TD Sec | 1,482,800 | 248,662 | 0.168 | 784,311 | 137,382 | 0.175 | 698,489 | -111,280 |
| 62 Haywood | 455,000 | 72,424 | 0.159 | 40,520 | 7,088 | 0.175 | 414,480 | -65,336 |
| 6 Union | 250,000 | 29,210 | 0.117 | 0 | | 250,000 | -29,210 |
| 85 Scotia | 566,400 | 97,273 | 0.172 | 379,900 | 62,732 | 0.165 | 186,500 | -34,541 |
| 9 BMO Nesbitt | 479,500 | 57,942 | 0.121 | 320,011 | 35,950 | 0.112 | 159,489 | -21,992 |
| 59 PI | 121,000 | 20,810 | 0.172 | 0 | | 121,000 | -20,810 |
| 15 UBS | 100,000 | 13,500 | 0.135 | 555 | 96 | 0.173 | 99,445 | -13,404 |
| 83 Mackie | 1,401,000 | 230,184 | 0.164 | 1,337,000 | 223,440 | 0.167 | 64,000 | -6,744 |
| 95 Wolverton | 64,671 | 10,633 | 0.164 | 7,039 | 1,127 | 0.16 | 57,632 | -9,506 |
| 19 Desjardins | 153,500 | 27,867 | 0.182 | 98,000 | 17,695 | 0.181 | 55,500 | -10,172 |
| 44 Jones Gable | 54,000 | 9,990 | 0.185 | 0 | | 54,000 | -9,990 |
| 42 Global Maxfin | 50,000 | 9,000 | 0.18 | 0 | | 50,000 | -9,000 |
| 124 Questrade | 46,800 | 7,620 | 0.163 | 9,000 | 1,405 | 0.156 | 37,800 | -6,215 |
| 79 CIBC | 141,700 | 23,926 | 0.169 | 135,000 | 23,275 | 0.172 | 6,700 | -651 |
| 28 BBS | 26,500 | 4,272 | 0.161 | 26,500 | 4,570 | 0.172 | 0 | 298 |
| 58 Qtrade | 0 | | 500 | 100 | 0.20 | -500 | 100 |
| 81 HSBC | 82,000 | 12,050 | 0.147 | 100,000 | 15,250 | 0.153 | -18,000 | 3,200 |
| 99 Jitney | 136,500 | 24,847 | 0.182 | 173,500 | 29,410 | 0.17 | -37,000 | 4,563 |
| 69 Jordan | 50,000 | 8,750 | 0.175 | 90,000 | 16,700 | 0.186 | -40,000 | 7,950 |
| 89 Raymond James | 114,500 | 17,734 | 0.155 | 175,780 | 28,975 | 0.165 | -61,280 | 11,241 |
| 36 Latimer | 74,000 | 9,080 | 0.123 | 156,500 | 24,692 | 0.158 | -82,500 | 15,612 |
| 2 RBC | 254,439 | 42,295 | 0.166 | 359,100 | 59,728 | 0.166 | -104,661 | 17,433 |
| 10 FirstEnergy | 0 | | 143,333 | 16,139 | 0.113 | -143,333 | 16,139 |
| 121 Jennings | 0 | | 157,595 | 22,349 | 0.142 | -157,595 | 22,349 |
| 74 GMP | 0 | | 176,700 | 30,804 | 0.174 | -176,700 | 30,804 |
| 80 National Bank | 121,000 | 21,224 | 0.175 | 519,000 | 70,625 | 0.136 | -398,000 | 49,401 |
| 1 Anonymous | 1,798,000 | 290,365 | 0.161 | 8,201,000 | 1,377,730 | 0.168 | -6,403,000 | 1,087,365 |
| TOTAL | 15,347,710 | 2,513,027 | 0.164 | 15,347,710 | 2,513,027 | 0.164 | 0 | 0 |
Stock looks Ready to Launch on News -
