Mart Resources Inc MAUXF

Losses in the Trans forcados pipeline

[Fernando2010]

Dir Sirs:

As you probably know, Heritage oil acquired from Shell, jointly with a nigerian partner, an economic interest in OML 30, close to Umusadege. They exported their production (currently around 44.000 bopd gross) trough the Transforcados pipeline (the one that we are going to connect to after finishing the construction of  our little but delayed Umugini line). In fact, as part of the acquisition, they have an economic interest in the pipeline itself also.
In their 2012 annual report (page 13), talking about the Transforcados pipeline,  Heritage stated that "There has been no evidence of bunkering on the pipeline since the acquisition.".
Reading their operational updates after the acquisition, I couldn´t find any mencion of "pipeline losses" in Nigeria.
I don´t know what to think about that .
It is as if they are operating in a whole different country.

Is there any reasonable explanation for that?

Thanks in advance

Fernando