Mart Resources Inc MAUXF

Mart mentioned in The Energy Report article

[JC66]

Mart Resources Inc. (MMT:TSX.V) is a good mid-cap name that pays a dividend. It is producing oil in Nigeria. It has experienced significant pipeline losses due to a lot of theft: Its current pipeline is in a swampy area that is difficult to monitor for theft. But in August, the company plans to switch pipelines. Using the new Royal Dutch Shell Plc (RDS.A:NYSE; RDS.B:NYSE) pipeline will allow Mart to avoid high pipeline losses while increasing production. Importantly, Mart has some wells under development that are not producing at the moment, but that will be tied into the new pipeline when they come on line.

TER: Is Mart joint venturing with Shell?

SP: Mart has access to Shell's new pipeline. Once it starts flowing product through that pipeline, its net production should increase materially. Mart has very aggressive plans for increasing production in the near term. Most of Mart's wells are verticals, which produce 2,000–3,000 barrels a day (2–3 Mbbl/d), but it has drilled a horizontal well that should produce significantly more than the vertical wells, and increase its overall production. The results on the new horizontal well will be released in the near term.

Entire article:
https://www.theenergyreport.com/pub/na/steve-palmer-buys-the-summer-sleepers