OTCPK:MAUXF - Post by User
Comment by
oullinson Jul 08, 2012 5:56pm
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Post# 20093099
RE: RE: RE: UMU-9 Capable of 43,000 BPD
RE: RE: RE: UMU-9 Capable of 43,000 BPD Birchjunk, No, not quite right.
Mart does not have 21,000 bopd with AGIP the cluster does. Mart is hoping to get 15K AGIP allocation from time to time (they did several times already). They are trying to get extra allocation but with AGIP nothing is done until it is done and even then you never know.
Mart indicated that they will keep open the possibility to export via AGIP. It costs them $1.75 per bopd( listen to the AGM). It gives Mart the flexibility of sending crude via either pipelines if there is an incident.
The new pipeline capacity (60K) is something that was mentioned at a presentation in NYC a few months ago but we have no official confirmation outside of that . The company indicated that the pipeline can be used for other producers in the area (AGM, NYC). In that case the pipeline joint venture (15% Mart) would receive around $3.50 a barrel. I believe that is the current going rate. However, you should not forget that the other party using the pipeline would have to have their own crude purchase agreement with Shell if Mart is using their allocation.
Cheers