OTCPK:MAUXF - Post by User
Comment by
Burlyoneon Aug 24, 2006 6:11am
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Post# 11265773
RE: Who's getting out,now
RE: Who's getting out,nowBlackmont is a big supporter of Mart over the last couple of years and this close to drilling they are not about to move there position. Now BMO just came out with a new guidance theme for there investors which encourages movement away from these types of investments, that is post 12873024.
While most of us are very discouraged with the lack of execution of the plan by the management, we are not about to abandon ship. While this is not the same investment that we bought into years ago and I don't think that it has near the upside that I thought it once had, it is still an easy doubler from todays price and then some. Management of course has there eyes set a little higher and knows to get there they have to quit upseting the shareholders and get the job done.
Unfortunately they are reporting that they are running behind on all fronts again but are promising that they will be drillng shortly. The new rigs in Houston are also late, but 201 will be shipping shortly, just as soon as they can get the rig certified. Rig 202 is supposed to ship 4 weeks after 201.
My forward thinking is that by next February we should have lots of news by then, with all the rigs in place and have completed some of the holes....
Rig
101 will be drilling Umusadge - two holes
201 will be drilling Qua Ibo - two holes on land
202 will be drilling KE
And the big question today is how long is shortly?