option execution..open float Most companies the share float is wide open, especially the North Sea ones cause they continue to over promise and under deliver.But long term they have good fundamentals.
MMT is a different story , no monster capital to raise, no debt , better wells, better oil prices , less taxes and above above all less declines in wells already drilled (on dry land too)
Further more if wells finally decline, they just turn on other zones.. guess they are doing side tracks as well.
Getting back to share float. Willing to guess that most or if not all the options excercised will never see the open market. Wade said the phone was ringing off the hook, so maybe they sell blocks to those instos and keep the rest for the dividends which i espect to rise on a percentage scale of production and profits which are expected to at least double by about early 2014. SO how may shares will actually be availabe to the open market ?? 100 million?? and how many astute retail and instos want in to get about 40 cents of dividends in the next 18 months. I really don't believe the share price drops as you hand out the dividends as the production covers the costs and is expected to double.
If you listen to the AGM , there really is no great limitations to the potental growth , many fields to partner on and THE surrounding fields to what we own in the UMU field are possible additions. Do all these people buying at about $1.40 expect to make a lot of money lol. The ones selling i know have made so much money that they must unbalanced porfolios and truly must re-adjust this happy situation.
GLTA
MM