OTCPK:MAUXF - Post by User
Comment by
oullinson Jan 20, 2012 12:44pm
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Post# 19427318
RE: oullins / repost IV
RE: oullins / repost IV Mart update
The company is running more logs in the 8,000 to 11,000 ft level of UMU9. It is going to take a few more days before we get the PR due to gov. approval. As you all know the Gov. has been a bit busy recently.
This is a transformative well so get ready.
Board meeting at the end of January. Wonder if special divy is on the agenda. 
Cormark keeps on adding new investors in Mart. 2M shares yesterday. That was a private block sale/buy.
Still waiting for that partner approval for the restricted cash. It is a bit complicated since it is the accrued account for the JV taxes.
Cheers
PS: Expanding on "transformative"
You can think of UMU9 as a step out of 1.5 Mile. With 300 or so ft of sands as a continuation of multiple layered reservoirs you do not need to be a reserve estimate expert to figure out that it is a bunch of oil. Will it be 1P, 2P or 3P that's for the experts to figure out and I am not one.
Next is the 8,000 to 11,000 zone. Talk about icing on an upside down cake if they find something that they can get to. Also imagine if you re-enter the older wells to go deeper and find that it also has the same thing deeper. Let's stop dreaming because you are looking at 2013/2014.