RE:do we really need this deal?xmaster wrote: if it is cancelled and we get 5.8 million....will still have issues with our financing? i think if company can deal with its cash situation than it will be worth much more once oil recovers.
Good question......however will there be any more bidders? I would think if there were more bidders, Mart probably would of discloe this to Midwester and this might have created a bidding war of the SP. However this was not disclosed to the shareholders. In fact nothing of real importance has been disclosed to the shareholders.
Anyway getting back to your question, if there are no bidders, then I would say to you that there are some scenarios that I believe that can take place. Mart has to come up with a strategic plan that they can amalmagated all their loans into one and try and see if they can get one loan to cover up all their debts. This is really the big problem with Mart, it's their debts...the other thing is the pipeline losses. If they can get these problems in order and the price in oil rises, I would say that they would be back on the road to recovery barring any problems the the Nigerian government.
Wit that all that has been said of Wade, I think that Mrt needs hm. Maybe I am saying this "tongue and chheek", but he seems to know exactly what to do....I agree that he is replacable, but Mart needs someone like him who knows what to do. If I am not mistken, he is still ther are Mart as a consultant. This says something about his role.