RE: Cormark on MMT Cormack has given a sensible analysis of Q2 and the inherent risks here.
If these high oil losses retreat to the 10 % level, Mart will be fine.
It is a risk however, as Mart will have to use this pipeline for at least a year and with only a nominal increase in capacity to boost production. That is why 20 % losses are so significant.
For these reasons, I sold a portion of my holdings here today but still hold my core for the dividend.
I rolled those funds into Antrim which is a north sea junior just beginning production at 3000 bpd next month, rising to 4600 bpd in 2013. Lots of cash, 28 million barrels of 2P reserves, annual cash flow guided at $125 million and just
.75 and little following.....yet.
Massive home run if they can get the Fyne field producing at 15,000 bpd by 2014.