Mart Resources Inc MAUXF

Good News for Mart

[Boolish]

https://www.bloomberg.com/news/2012-07-13/nigeria-s-revised-oil-bill-reduces-taxes-for-exploration.html

[oullins]

New tax proposal and what it means for Mart and indigenous fields.   The new tax proposal brings the tax level from 85% to 50%.  Considering that the present tax is 65% for on-shore indigenous fields (outside of tax holidays) we can expect that the new tax level for that type of field will be around 35% to 40%.   This number was mentioned by Wade during the AGM. 

[molymoney]

Sorta negates most of the loss oil and or bunkering lol MM

[birchjunk]

The reduction in the tax rate from 65 % to 35-40 % is very good news and increases chances of increases in the dividend rate in 2013.   If, as Wade suggests, there is also a special tax holiday for the new round of indigenous fields, that also adds to cash flows and the valuation of Mart.   A very good story just got very much better.

[oullins]

Birch,  Just want to set the expectations straight.  The 35% to 40% is only a logical guess, it is not a given.  Also, the tax holiday is something that the Government has done before (ie Mart), they talked about doing it again for the second round but it is not set in concrete. I am pointing that out because sometime this type of things gets translated into a commitment by the