OTCPK:MAUXF - Post by User
Post by
mjh9413on Apr 03, 2013 1:28am
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Post# 21203233
That Loan
That Loan Funny how people misinterpret the written word...Midwestern lent the money... dah! and did Mart get paid by AGIP in january and february (yes, they said so!!! but 300,000bbls they got paid for were not delivered at Dec 31st and only part of that has been delivered since!!!) , are just 2 examples. But enuf of that for what surprises me is what assets MMT's Nigerian Sub has to support such a loan amount (they don't say it's collateralised, but such an amount cannot be unsecured.) . Isn't this Sub the drilling arm of MMT and no way do they have much in real assets (it's less than $12MM in b/s). All MMT has is the RSA. or do they? I cannot understand the $111MM petroleum interests they say they have in Nigeria if all they have is an RSA...do they really have title to the wells, land or is it equipment? very strange.Guess i should look up AIF. Anyone know?