OTCPK:MAUXF - Post by User
Post by
4funon Jun 01, 2010 7:43am
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Post# 17145635
MMT trades at 3 times 2009 cash flow
MMT trades at 3 times 2009 cash flowMMT is presently priced at 3 times 2009 cash flow.
Its balance sheet has been substantially cleaned up.
Reserves are increasing dispite production and will continue to increase as more wells are drilled and additional zones are brought into production.
There is NO VALUE given to future wells which WILL increase production and cash flow dramatically.
By the end of July a third well should be in production possibly generating 3,000 BBLS per day! Bringing production as high as 6,700 bbls/day. A total of 3 news could be completed by year end. With a workover of both existing wells MMT could exit 2010 with production around 13,000 bbls per day!
MMT will continue to earn 97.5% of revenue and cost as long as they continue to drill. I have been told that as many as 7 new wells can be drilled to optimize production.
Fascilities are in place to handle up to 20,000 bbls per day!
It is very possible that this stock could be trading as high as $1/share by year end. This does not count any value for the Qua Ibo field.
Total engineered value at 10% discount places the total value at about $2/ share which could be reached by the end of 2011.