Mart Resources Inc MAUXF

RE:RE:RE:options

[stockpeeker]

No, I've not noticed that low volume portends imminent news.  

IMHO the slow volume is a direct result of the latest news and conf call, stating that pipeline completion has been delayed about 4-6 months. This essentially means Mart and partners cannot increase production substantially til 2014.  Wade stated there may be a small increase as Agip accommodates higher volume for Umusadege (up to 4500bopd), but it will require infrastructure modifications (pumps, etc. that need to be ordered).   Meanwhile we are at least producing well, but much production has been used to pay Agip back for over-nominated oil during the painful pipeline outage.

Marginal field Pioneer tax status expires end of 2013, so we missed a big (tax-saving) opportunity this year.  Weather, technical problems with UMU-10, slow govt approvals, etc. have been blamed, but regardless of the cause, 2013 revenues have been very disappointing when compared to the expectations set by management late last year.

Since we cannot expect a major production increase this year, investors are concentrating elsewhere, at least until we hear some positive feedback on status of UMU-11.

Best Regards!