Mart Resources Inc MAUXF

No Incentive

[ShepardX4]

Two problems here of concern: 1) Already stated in conference call with current incompetent management, no brokerage is going to get behind them 2) Deal? With who? Midwestern (just playing with them) or any company involved in the fields just have to sit back and play the waiting game for the loan default, then acquire field interests at a discount.

[freedom-1970]

How about we sell Oml 18 to Sahara? This will clear out debt off? Keep the drills turning and fill our new pipeline? And find a new Ceo??? Who can work with these gray government's...

[ShepardX4]

There is where I am seeing the problem with management, that only problem this company, no clear leader. The brokers that fund small ventures said that in the conference call, that is why these bottom feeders are able to put 500 shares to keep shares down, a backing would just take them out. They seem to be solid on making some non existent deal with MW

[ShepardX4]

How about sell Oml18? Why buy when brokers not backing and these companies can just take it in 6 1/2 months?? just saying

[traderlong2]

I think they could sell OML no problem and clear the debt they are then pumping 7500 bpd with no debt i agree they seem bent on selling it to MW at a large discount someone pointed out earlier any management of mart would likely get a new job at MW There is a conflict of interest imo my guess they are almost done a deal with MW Bought deal no conditions at .40 and "management

[righand2]

I assume you mean OML 18? If so, you are overestimating what they would get for it. There is a zero chance that selling it would pay off MMT's debt.

[goinonaprayer]

Novice here and can't understand why there is no value in OML 18? Did they not say the oil is hedged at $95 for the next three years? I understand this cash flow cannot be utilized in UMU so does little to help MART but is there not value for another company with long term growth aspirations.

[righand2]

There is value in OML 18, but a sale in this market climate would never bring as much as Mart paid for their share. And the money they put in for capex would most likely be lost in a deal in a country as crooked as Nigeria. So Mart would be left with more debt than they started with, a debt that would have to be financed by Umusadege at $50 oil. Not a good situation.

[traderlong2]

I think OML 18 has more value than Most think even at these low oil prices when our 10% was purchased for 124 million in march it was producing 14,000 bopd at the last confrence call it had grown to 24,000 bopd and suggested it was stil ramping up increases bopd to top it off yes I also understand hedged at 95 bucks per barrel for 3 years I believe most would gladly pay the March price maybe a