OTCPK:MAUXF - Post by User
Comment by
powdogon Sep 25, 2013 11:55am
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Post# 21766368
RE:Stating the obvious
RE:Stating the obviousSometimes the obvious ......is not that obvious. I have not posted for a while but I view the whole market gyrations in the past few months as a good period of time to shake out the nervous investors and build a better base.
I strongly believe that UMU 11 will be a good well based on offsetting well control. The number of prospective zones is incredible and will result in years of good production with very reasonable production declines. Damaged conductor casing is an operational issue and created drilling delays in Mart's case......but these types of issues are prevalent with most companies.
The reserves have not vanished and it is frustrating to see pipeline losses but the company is taking measures to mitigate these losses by building a more secure pipeline.
I expect also that the MMT team is also looking at other opportunities in Nigeria. No time line can ever be placed on when a deal can be negotiated....and announced.
In the meantime I collect a dividend and watch the action.
Powdog