Mart Resources Inc MAUXF

Im out

[fracpack]

Took major profits after the recent bounce, but we are back where we were when things were looking rosy.  Now we have a major problem with covering the dividend if we cant increase production which will not happen till end of 2013.  If they are forced to cut the divvy we go to 50 cents, so dont be like the blind board of pumpers that only see the upside and no downside.  Dont make the mistake of over paying and getting burned, again.

[ScaryRaccoon]

"Major problems with covering the divident".. do you have any figures to back up your stupidity?

[BioBilly]

You my friend are a moron. Don't let the door hit you in the azz on your way out. Talk about no DD.

[fracpack]

thanks Bio the resident pumping geriatric. 

[fracpack]

Yes I do have evidence, look at the last quarter idiot.  They cant cover the divvy unless they get a higher share of production or more overall production.  They cant get a higher share of production without spending the same cash they use to pay the divvy, and they cant increase production until end of 2013 since they are stuck behind pipe. So, you are an idiot pumper exactly who I

[roxy14]

Guess they'll have a lot of trouble with 80 million in the bank in July....only enough to cover the divi for a whole year...lol

[WeKnowEnergy]

Thanks Roxy, so many idiots so little time.  They are paying dividends and drilling with that money, they will run out unless something changes.  You can go back to admiring your own pea brain again Im out for the day but enjoy reassuring yourself with the other blind idiots that refuse to consider anything that isnt 110% positive, how credible you lot of fools are. 

[fracpack]

lol thank you... 

[roxy14]

actually they get the drilling money back ya dimwit

[watch22]

Even at a 50% participation (and it will be higher given UMU-10 spending), with the stated field production in July at approximately 13,000, I get the following Field level: 13,000 bopd Losses: (1,300) - 10% assumed pipeline losses Mart Share: 6,500 (at worst assuming 50%) This compares go 6,953 bopd in our favourite record Q1 with pricing this quarter averaging $110 versus $115/bbl in Q1. Wash

[MiningMonster]

Hey Roxy,  Respectfully, I think they are talking about the cash crunch, the opex, capex and dividend all together cannot be met by current cash flow.  You are right they get the money back, but that can only happen when those wells are producing and they dont have a pipe to tie in to at the moment. There is certainly a bearish AND a bullish case to be made for the stock.  Lets see

[watch22]

Based on a reasonable 65% attribution in Q3, and the figures I quoted earlier, I would still see $44 million of cash flow - more than enough to meet - capital spending (drilling) of perhaps $15 million and - dividends of $17 million Oh HECK, here's a summary of what I'm using - punch all the holes you want in it!  Then do your own work before you start suggesting MMT will not cover

[molymoney]

Your earnings per share of 8 cents is what i get too. I base this on the movement of the stock price today that August was as good as July as per bod and pipeline losses. Sept is unknown and if it turns out below par we will not reach 8 cents. We have good oil prices and 65% seems reasonable for drilling oil cost recovery guesstimate. The biggest catylst going forward is the crude handling

[2for1split]

mmmmmmm.................nope! Ya missed the boat! "Major Profit" Whatever.............................. MAJOR PROFIT is when we hit 10 bucks and sell! cya :) And all the best in the deployment of yer new "major profit". Long n strong on MMT! all IMHO of course  

[Fernando2010]

Watch 22: why did you consider Mart´s share in barrels of oil produced and sold (8.450 bopd, or 65% of gross production) based on total production (13.000 bopd), and not based on total number of barrels sold, after deducting losses? I understand that, with a 65% share, Mart´s total number of barrels sold per day should be 7.605 (65% of barrels sold, after deducting 10% of pipeline losses

[sgandza]

Thanks for posting that Watch - fabulous post. I'm a little worried about your 13000 bbls - that assumes they can ship full out through the pipeline every day - which I worry is unlikely. What would your flow from funds look like if the crude price was say, $95 and they only managed 12000 bpod?  

[watch22]

Fernando, you're absolutely right.  My screw up.  Trouble with rushing - but always benefit from another pair of eyes.  Of course - I also seemed to have not saved my latest version, so its back to the scraps I had yesterday.  I'll rebuild it with that correction over the course of the next few days.     And yes - happy to share the delta's when the Q3