Mart Resources Inc MAUXF

What are all the losses they describe in production

[ellorno]

There seems to be a lot of losses when they send it along its way.  What's up with that?

[vestor111]

Welcome to Nigeria land of theft and corruption.   The losses are due pipeline theft on the old pipeline owned by da gubamint which runs through swamps and organized crime (probably sanctioned by someone somewhere in power) pull up to the pipeline at night and is tapped into and offloaded onto barges that offload out at sea on to tankers... (Hardly invisible if anyone was serious.  You

[green24]

I haven't been following MMT closely, not since I got out at $1.45.  I knew enough about it to know that 1.08 was a steal today, and bought back in. I don't even know if they are making use of the new pipeline yet (I thought it was still undergoing testing). Did I miss the company guiding for 20k bpd or 30k bpd by year end?

[vestor111]

Yes, Wade stated it twice I believe, once at the end of the BNN interview linked on the board about 3-4 weeks back.   He stated that the company should be around 30,000 bopd by YE.  And once a day or two before on a CC or presentation - also noted on this board.     Given that Wade's expectations do not always align with reality, 20,000 bopd seems better managed

[jd43xl]

And don't forget that we had more productive capability that what the AGIP pipeline would accept. In reality, we probably already have the ability to produce 30,000 bod. We just need Umugini up and running.

[green24]

Thanks vestor111.  If they can close the quarter at 20,000 bpd to 30,000 bpd, that will make today's prices look like a real steal.  Even with oil prices at today's levels.

[vestor111]

Indeed and I believe so too.  Good Luck. Remember - it is still Nigeria.