OTCPK:MAUXF - Post by User
Post by
SUEMEon Nov 26, 2009 1:13pm
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Post# 16526886
Plenty of time - already
Plenty of time - alreadyI really dislike having to bring up management concerns on this company. If we look back at the take-over offer, we were valued at .14 cents a share when oil was $32, and our debt was in the $40 million range. Reserve estimates for P2 at 44 million bbls.
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Currently, debt is in the range of $15-$20 million, oil north of $75, and net monthly cash-flow of $5-6 Million. The market has no confidence that the BOD can restructure management to maximize shareholder value.
We need to either have new management, or take this back to the market to see if we can find a qualified buyer who can write the cheque for the real value of the assets.
Unfortunately, the current management is unable to do the right thing for shareholders. Pitifull, that we are trading at .09 cents.