Call me an idiot, but I don't believe all the bullshit I read on SH and IV!
What I DO believe is that OML18 in conjunction with the low oilprices has killed us...debt we can not pay off with these low oilprices! Than you need to restructure the debt and or looking for other possibilities like a merger or a sell or...
Midwestern just took the chance of there life!!
Now do you really think Mart will go bankrupt if there would be no deal? At this very moment I don't think so! Mart has to restructure its debt for 2015. If oilprices will recover in 2016, than is Mart alive and kicking..if not...than Mart has a problem!
Why the fall in shareprice lately? As long as it is not sure Mart get a deal with MW for 0,80CAD, we are in a depressed mode because of the falling oilprices, but most of all because of we are in the dark at the moment. What about Wade's actions? Is it only the story about his exwife OR is there more to tell?? And what are the financials??
In 2 weeks we will have a lot more information! Deal or not and the Q4 2014 at the end of this month.
As for me, I believe there will be a deal announced for 0,80Cad! Otherwise, it just wouldn't make sense! If not...then we need a restructure of the debt for 2015 and higher oilprices next year...and we will love Mart again!
here some answers at my questions lately:
Hi xxxx,
We appreciate having you as a shareholder and to the extent we can answer your questions at this time, the responses are below. Our 2014 financial reports and Management’s Discussion and Analysis will be filed before the end of March 2015 and will provide additional information.
Thank you for your continued interest in Mart.
- Why felt the production of Feb/Jan by around 10%? This in consideration that Umusadege had a one day record volume of 29,000bopd late January 2015? Why did it turned down? The Umugini pipeline is still early in its operational life and efficiency and volumes are being reviewed and plans for improvements in volume throughput and minimal downtime will continue to be implemented. The operation of the pipelines is not under Mart’s control, though all involved strive for improvements on an ongoing basis.
- Why does Mart get no confirmation from Shell Terminal about the volumes received? What’s wrong here? Mart’s partner (operator of the Umusadege field) has not yet received routine reports from Shell, and there have been some problems with the reports that have been provided. All involved are working to get a routine reporting system in place.
- Why does the official announcement of the OML 18 deal take so long? Mart is paying the OML18 debt for months now, and we are not receiving any proceeds of OML 18 production? The OML 18 deal is being reviewed by Nigerian Government departments that are required to approve the arrangements. These approvals take time and there is not much that can be done at the moment to expedite. Approvals are expected soon and will be announced as soon as complete.
- How much is the net cashflow a month for Mart…some 6M$? When Mart has to pay some 7M$ a month (in 2015) – I still believe that Mart can survive when they can get a restructuring of the outstanding debts. Financial information will be provided to the public in reports in the near future – year end audits and other work is ongoing now for completion before the end of March and publication of reports."