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Mart Resources Inc MAUXF



OTCPK:MAUXF - Post by User

Comment by stockpeekeron Feb 28, 2013 10:22am
280 Views
Post# 21054879

It's about execution, not plans ...

It's about execution, not plans ...

One of my concerns is that slow implementation of the big plans for Umusadege development will delay the theoretical massive production increases beyond the end of 2013, that is, til after the end of the "marginal field tax holiday", thus losing the opportunity for great 2013 after-tax cashflows.  I'm beginning to expect repeated use of any number of the standard great excuses as before, such as Nigerian time, inability to control Shell signatures, complications with the drilling team, more flooding, another force majeure, etc.

I know I'm not the only one who wonders about the ability of the Umusadege partners to execute to plan.  Also when it comes to "the plan", the schedule that we've seen in recent presentations by Wade may no longer be the official plans.  How can we really know what their current official plan is until they officially publish it in a news release (or AGM presentation)?

IMHO, complications and delays (and more excuses) will probably continue, and the Umusadege partners will not be able to meet the rumored plans and unofficial 2013 schedule.

Good luck to all us Martians!

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