OTCPK:MAUXF - Post by User
Comment by
powdogon Apr 29, 2013 5:37pm
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Post# 21315844
RE: RE: Trading by appointment
RE: RE: Trading by appointment Tough to work your way through all the gyrations of a stock market that is very jittery.
Pipeline shutins have not been helpful to Mart but at the end of the day the oil and gas reserves drive your base value for this company. The upside is additional reserves which will be added with future drilling.
The reserves evaluations take into account Capex and pioneer status royalty calculations. To remind everyone, 10 % discounted cash flow for Proven reserves is roughly 565 million (effective Jan 1, 2013) or $1.70 per share. Proved and Probable discounted at 10 % gives you 785 million or $2.34 per share. Cash flow goes into divy and future drilling so this is still a very good spot for me to be sitting.
I strongly believe they have significant upside potential for increased reserve growth with more drilling.
Patience is needed but I feel we will be rewarded.
Continue to be a holder.
Powdog