OTCPK:MAUXF - Post by User
Comment by
oullinson Apr 10, 2011 12:22pm
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Post# 18410644
RE: RE: RE: RE:Hedging?
RE: RE: RE: RE:Hedging?Sorry it is 320,000 Barrels
From the following NR:
Mart Resources Inc.: Umusadege Field Operational Update
1/19/2011 8:48:05 AM - Market Wire
"Although production was constrained, a total of 380,000 barrels of crude oil was nominated by Mart and its co-venturers and purchased by Ente Nazionale Idrocaburi ("ENI") during Q4 2010. Payment for the oil nominated in October and November has been paid for by ENI. Payment for oil nominated in December is expected by the end of January 2011. Due to the disruptions and production shutdowns in Q4 2010, deficit oil, which is the shortfall between the volume of crude oil nominated for delivery and the actual volume of crude oil delivered, amounted to approximately 320,000 barrels as at December 31, 2010. Mart and its co-venturers anticipate repayment of deficit oil obligations during the first half of 2011."
The big problems on the pipeline were in Q4.