RE: Just quit with all the Divedend talk already! They are drilling and dicovering oil much faster than they can sell it and paying a dividend will have no affect on the drill program. Funny thing you would bring CPG up - they have been paying a dividend almost since the beginning and doing acquistions and growing the company at a very high rate. Just because you pay a dividend does not mean you can not grow the company and CPG is the best example I can think of.
My main reason for the dividend is not to put cash in my pocket but to see the share price come up to a realistic price based on the value of the asset. if we are bought out now the price would be way too low based on the asset. At the moment the only buyers in the market are those looking for monthly dividends. We need to tap into this buying pool or see the company sell for much less than it is worth.
While I believe there will be a special dividend I would far rather see a monthly dividend. This is what the market wants - not a special, quarterly or semi annual. In the case of Mart the dividend will need to be monthly and significant in order to overcome the small size of the company and Nigeria factor. A monthly dividend will need to be some where around 2 cents in order to bring the share price up to a realistic valuation. If they do not pay out a special dividend 2 cents should be doable.
As to other endeavours they need to focus on this asset for now until they have overcome the constraints around selling the oil. I believe they are doing a good job on developing the asset but the Nigeria factor is a significant issue when it comes to moving your product to market.
I am sure the delay in any announcements is the reconciling of the difference from the oil put into the current pipeline compared to what they were paid for. Bunkering comes in many forms in Nigeria.