Mart Resources Inc MAUXF

Outstanding questions

[kaisersosze]

Would appreciate any replies to these questoins:

 

1) How did we lose 20% of our oil (appreciate that Wade is digging into this)?

2)  Why the production costs were 100% higher than usual?

3)  Is it me, or did we get lower than Bonny prices?

4)  If we do end up merging with our Nigerian partners, and we end up with a big one time divvy, by letting the partners keep their cash for the next 3 months, isn't it really just our own money anyways, and we are deferring paying ourselves?

 

Thanks in advance

[Lousytiming]

How did 18% become 20%?

[Alim33]

Inflation.

[kaisersosze]

So instead of serious discussion I get that?  Thanks for the value add.

[TommBomb]

I guess readers are getting tired of reassuring you about the value of this company.

[kaisersosze]

I never doubted it's value.  There are simply some things I don't understand about the report that I hoped others might be able to shed some light on. 

[Kherson]

Good one Alim33... Kherson

[CalifDreaming]

You asked some very interesting questions.  This is my understanding:   1) Line losses were 18% - up from ~8% previously and 10% budgeted.  How/why that happened is a mystery.  MMT is requesting back up documents from Agip. 2)  Total production expenses were meaningfully higher Q over Q.  Rose from $6.9MM in Q1 to $9.2MM in Q2 - and were unexplained (no notes/comments

[kaisersosze]

Thank you CalifDreaming.  That was very helpful, and explains items 3 and 4 (partially 2).  No we have to wait for the results of the investigation on number 1.   Thanks again!