OTCPK:MAUXF - Post by User
Comment by
oullinson Mar 01, 2013 2:11pm
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Post# 21063763
RE: RE: Reading between the lines
RE: RE: Reading between the lines Billy, I think you got the numbers a bit wrong. We know that Mart and partners got at least rvenue for 600K for Q3 since they get paid for the lifting number not the production after loses. That 600K could be even more if they had a lifting in October but we do not know that so let's assume just the 600K.
Q4 will have a lot of the delayed expenses of UMU10 plus the G&A so we can expect at least 60% of the production for mart and that is 360,000 barrels for the quarter or 4,000 BOPD average net to Mart. Yes we do have to repay 150K but that's another quarter.
By the way the pipeline was not down due to an explosion but due to flooding. Also the pipeline losses for December could be losses at the time of the flooding and not after the repairs. We have not idea when the oil was lost. I was a bit nervous about that it's a matter of fact. I was expecting December losses to be even worse as a percentage. They tested the pipeline prior to the restart and had a lot of leakage so you can imagine that they lost a lot of oil during the damage and the testing period.
Cheers