OTCPK:MAUXF - Post by User
Comment by
JustforFun7on Jul 17, 2014 10:25am
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Post# 22754958
RE:UMU east and West
RE:UMU east and WestProbability of hitting oil is very high in east and west.
East will be drilled first, I believe. Priority right now is to increase production. Quickest and cheapest way to do that is the two horizontals thru existing wells. One down and one to go. But your right, oil reserves need to be brought up. Even shipping through a new pipeline with losses of only 8% will bring up the reserves.
Wild card is when will the new OML be obtained and how much new stock must be issued to complete the purchase. How much new potential do we get with the new OML. It should have Pioneer tax status which makes it extremely attractive.
JFF7