OTCPK:MAUXF - Post by User
Comment by
funkshow33on Aug 20, 2014 9:36am
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Post# 22859373
RE:Has Mart Won the OML 18?
RE:Has Mart Won the OML 18?Some good DD there, it is already know mart won the oml18. The question now is how much did they pay. It has been suggested about 1.5 billion for this property which currently produces 20k boe. Which would be 75k pre flowing barrel. This would be a good deal by North American standards but quite expensive by Nigeria numbers. Mart believes they can ramp this property up quickly. OER took almost 18 months to close their deal-so I don't expect much until next year on this. The new pipe line IMO will start flowing in Q4 (sorry been here to long to expect any sooner) and be at full till in q1. At that time mart should cash flow 25 million a month. That should clean up the balance sheet by the summer - then close oml. This time next year mart may be producing 60-75k boe and have a stock price of $4 a share- but this is Nigeria so maybe multiply my time by 2;)