Mart Resources Inc MAUXF

OER M&A Today

[bobby1231]

On November 12, 2012, OER was informed by NAOC of evidence of leakages on the 10 inch Kwale-Akri oil delivery
line, causing NAOC to temporarily close the pipeline. NAOC was unable to inspect the line to determine the extent of
damage, as flooding due to bad weather caused the area to be inaccessible. All production evacuated through this
pipeline was temporarily shut in pending NAOC’s ability to access, inspect and repair the line. On December 11, 2012,
OER announced that assessment efforts had revealed that the pipeline would require a partial replacement. Production
and injection re-commenced on December 24, 2012 and continued through to February 14 2013, when it had to be
stopped again due to rupture in the pipeline. All efforts to effect repairs have not been successful to date and NAOC
formally declared a force majeure on March 21, 2013. It is expected that this will be in effect until at least the second
week of April. Production from the Ebendo Field (OML 56) is evacuated through this pipeline to the Brass export
terminal

[bobby1231]

The Akepo-1 ST was completed as a two-string multiple completion to produce on two strings from two of the three zones, with the third zone selective on one of the strings. Following the completion, the Akepo-1 ST was successfully flow tested from the D6 sand with good flowing wellhead pressures. There was insufficient tank capacity available to further test the D1 or C1 sands. With the success of

[bobby1231]

I should get my cheap shares this week.IMO

[hangemhigh4]

Bobby. All this down time is not good for pps. Many will sell and move on. Could be some time before investors come back to Mart.  I dont like it at all. And with no updates makes it hard to know whats going on.  Income first Q will be impacted greatly. All we can hope is second and third Q makes up for all these losses. Frustrating is all I can say. imo

[bobby1231]

I will just keep buying once it goes lower. OER is steaming about losses Pipeline Loss The company contracts for Pipeline transport of its crude from OML-56 (Ebendo) to the Brass River export terminal. The crude from OML-56 (Ebendo) is injected into a Trunk like from Kwale to Brass. The pipeline owner at OML56 (Ebendo), Nigeria Agip Oil Company (“NAOC”), has been reducing sales volumes by the

[freedom-1970]

Thx Bobby, guess we have to watch OER for our next update on the pipeline.   Another week to go for sure,at least we know the new line will be up and running before Q4,

[bobby1231]

Taking 17% in losses is bs...i can't wait for the new pipeline to be built.

[kaisersosze]

And throughout all this, we hear ZERO from Wade.  What a great communicator!  He'll likely try to save up all the info for one PR, and throw in one nugget of "goodness" that he hopes will overcome everything else "pipeline still down, no 2nd pipleine till Q4, but we're spudding UMU-11"!

[badog222]

We all know that Mart is going thru a rough patch right now.    We all know why.  We all know what Wade is doing to fix this.   Some things are in Wades control....some things not.   If you want constant hand holding...well, Wades probably not your guy.   If you want constant tidbits to trade around...Wades probably not your guy.   

[kaisersosze]

I don't consider timely updates from the company "constant hand-holding".  If indeed the new pipeline is delayed till Q4, that is material and not something we should be hearing from Wade himself.  If the current pipeline is going to be down at least another 2 weeks, that is material.  This is not like I'm asking Wade to provide daily production numbers from the

[kaisersosze]

Meant to say: If indeed the new pipeline is delayed till Q4, that is material and something we should be hearing from Wade himself

[themangokid]

whi is the downed pipeline operator not listed as agip?

[themangokid]

*why*

[WeKnowEnergy]

So it looks like AGIP will resume by 2nd week of April, I think some people are confusing Forcados with Brass River, the Shell pipe is the one the article references as September.   Looks like a buy opp amongst the confusion.

[Burlyone]

Well said Badog, Wade has no control on when a NR is to be issued.  Mart management have to abide by the rules of the partnership...  As for the whinning, quit it already, if you are not happy with management please sell and move on, it is getting to be a little bit too much.... I have been invested in Mart for 10 years and have seen all the highs and lows, we are on the verge of a

[goldiehawn]

bobby1231 - do you have a link for the OER M&A?