Mart Resources Inc MAUXF

RE:RE:What are all the losses they describe in production

[green24]

vestor111 wrote: Welcome to Nigeria land of theft and corruption.   The losses are due pipeline theft on the old pipeline owned by da gubamint which runs through swamps and organized crime (probably sanctioned by someone somewhere in power) pull up to the pipeline at night and is tapped into and offloaded onto barges that offload out at sea on to tankers... (Hardly invisible if anyone was serious.  You know - in a normal society there would helicopters and patrol boats...)  

The good news - the news pipeline is better guarded and over land so historically has much less theft (8% vs as high as 25% or more on the old line).   The new pipeline is owned and operated by producers with modern sensing - so declines in pressure can be spotted quickly and "troops" dispatched.  (The old pipeline owned by da gubamint has not been upgraded with sensors...why end a good skim for the operators.) 

With less theft we should also have less down time which has been eating up many days of pipeline flow on the old line.    Add three new wells running near 15K per day and this is where the company thinks they can move from about 13k per day up to 30K per day by YE.  Even 20K per day would be a windfall.   

We will see.  But once the oil shows up on a qtrly - the world will believe it.   $2 per share would be nice...$2.50 might be possible but who knows...this is Nigeria...

I haven't been following MMT closely, not since I got out at $1.45.  I knew enough about it to know that 1.08 was a steal today, and bought back in.

I don't even know if they are making use of the new pipeline yet (I thought it was still undergoing testing).

Did I miss the company guiding for 20k bpd or 30k bpd by year end?