Mmt Comp. Share Discussion Threads

[riggerbeautz] 02/3/2015 19:52

Rights or wrongs are hard to assess when so much remains unknown, doubt the full story will ever come out. All that remains is to make the best of it now.

If I could take the money and reinvest down the line in MWO I would for sure.

[sg31] 02/3/2015 18:57

Has Wade EVER had a successful outcome for shareholders with a listed company he's been involved with?

You could say the same for about 75% of small oil and gas directors.

With a crash like we have just had I have always held on and waited for better times, they usually come around eventually.

The irritating thing with Mart is we won't get the chance to do that.

[dukedosh] 02/3/2015 18:19

Frying pans and fires. Even if I had sold Mart last summer, I would have similar losses with other O+G's I was watching at the time, as I never imagined oil would plummet to these levels. Like 2008, I was caught with my pants down.

Nevertheless, this whole story stinks big time!

Maybe the OML18 deal is an over stretched position?

Maybe the deal closing delay might have been manipulated to force a low ball sell out?

Maybe even the TF pipeline outage was manipulated?

With Mart in this current predicament, these options awards at 58 cents are disgusting and an absolute disgrace.

Looks to me like everyone is a winner except for us "outsider" type shareholders, left holding the baby.

I also suspect Wade to join MWO+G and see them London listed in short order for yet another crack at us.

Here's a question: Has Wade EVER had a successful outcome for shareholders with a listed company he's been involved with?

[thegreatgeraldo] 02/3/2015 17:11

Market's confident! Trading at just the 20% discount to the "offer".....

[riggerbeautz] 02/3/2015 15:43

Personally I would like to see déjà vu 2008 as mentioned a few posts back, but somehow I don't see it. Sorely tempted to gamble a bit more the same happens.

Duke I'm sorry you're down, can only empathise I've lost the same in profit when expecting to double it. Do wonder if the silver lining is to hold on for it all to play out and take what comes my way. Going to wait for the production update, as said earlier I think that might help reveal lack of funds. More I think of it the more I believe they are way overstretched on OML 18, it's the only explanation I can find for this.

Wouldn't be surprised to see Wade rock up at MidWestern prior to any overseas listing; just guesswork of course.

[scrambled eggmann] 02/3/2015 13:47

Also I guess this gives time for the company to sort its finances if this transaction fails. Could be deja vu from 2008 again.

Same buyer, but I think this time they will have the financing as what they are buying is a well developed field with infrastructure.

[dukedosh] 02/3/2015 13:45

With you there RB. Gutted doesn't begin to describe my feelings. This has cost me a big 6 figure loss that will take me a couple of years to recover from at least.

I can't take any positives from this either. I cannot believe how they could fark up such a prolific and reasonably easy opportunity!

The cheer leaders will be quietly licking their wounds I imagine. I don't expect we'll hear much from them on the subject, after this debacle.

Oh well. Back to the drawing board.

[scrambled eggmann] 02/3/2015 13:42

Oh well, short journey for me second time around.

Take the money and move on I think after the shenanigans and announcements of strategic alternatives.

[dukedosh] 02/3/2015 13:28

This from Toxie on IV just now says it all imo:

" Said it before and will repeat it, when Mart elected to challenge Dangote for OML 18...it not only bit into something they can't chew, but challenging the Richest man in Africa as oppose to joining forces was one of the stupidest move it ever made.

Pay attention , Dangote will buy the State of Delta shares' of Midwestern, Midwestern will acquire Mart on the cheap, Dangote will acquire the remainder of Midwestern it does not own after the Delta stake he gets (20% of Midwestern), and Dangote will feed its new Petroleum and Fertilizer plant presently under construction with Umusadege and OML 18!

And for those who think another bid from someone else could come in for Mart......shake your head and go take a very long walk !

This entire nightmare finally comes to a full stop with Wade stepping on his di!ck in more ways then one, then again he's let it out of his pants once to often and in the end selling us out on the cheap.


Bravo Wade, may the ASC and OSC crucify you to the wall for this Insider selling .....!"

[riggerbeautz] 02/3/2015 13:24

Blimey talk about selling out cheap! Just wondering if anyone else may emerge or is that wishful thinking?

It doesn't really owe me and I've made good money here, but at 80c I'd feel truly robbed out of what could've been. Says to me the finances are not at all rosy behind the scenes, otherwise it just doesn't stack up!

[dukedosh] 02/3/2015 13:20

C$0.80 per share? Absolute shocker!

[dukedosh] 02/3/2015 09:39

TF was down for around 2-3 weeks in January. I hear it has been flat out for February and we still have AGiP. Who would have thought we would be pleased about that?

I don't expect much of an ops update, if at all, before the BoD speak further about the "strategic review".

I hope the BoD are not forced to sell us out on the cheap. If they can secure the necessary finance on reasonable terms, then we're off to the races again.

[riggerbeautz] 02/3/2015 09:10

Don't expect too much from the op's update coming, rumours of the T.F still being down are probably why this is stuck. Will see soon enough how much cash this cow is churning. Might give a clue then as to which way the board is looking to go.

[here and there] 02/3/2015 07:38

We just need to push back debt re-payments, as Mart is a pretty good cash cow, i think they should be able to sought this out.

[riggerbeautz] 25/2/2015 19:02

We've been here before, already had one attempt to sell out cheap that failed; somehow doubt it myself, just have to ignore the noise.

Personally if they have to take the hit on OML18 I'm fine with that and we move on, just sort out the finances, renegotiate the debt and grease palms to keep the pipes flowing.

[scrambled eggmann] 25/2/2015 17:01

Added a large number to my SIPP as well. Get ripped off buying via HL but I think MMT must be going for above 85c if not $1 as otherwise the board would not even consider it.

I think the brown trousers from all holders over the weekends caused the Monday/Tuesday selling, but if both pipelines are flowing then no reason to be down here at all.

[here and there] 25/2/2015 14:44

right, i have re-read everything and bought all my stock back at the opening today.

think wade will get a slap on the wrist but it is all about his divorce.

the key thing is someone has stepped forward and made an offer

i can only presume it is somewhere in the 70-120c range

i hope they don't sell, reschedule their debt payments, ramp up production and develop the assets fully

chen lin made some interesting comments on some stock picking show

[riggerbeautz] 25/2/2015 11:35

Like GKP is doing today.

[dukedosh] 25/2/2015 11:18

Looks very much to me like we are being groomed for a take out around the $1 per share mark. If so, us long term holders are being robbed of our hard earned and long awaited upside in broad daylight and there's not a dam thing we can do about it.

I now hope this ends quickly, so at least we can move on and not miss out on the oil price recovery elsewhere.

[here and there] 24/2/2015 10:58

not looking good here, Wade's track record reads pretty poorly. This late disclosed share sale is a huge red flag sign to me, particularly considering what happened in the past two companies he was involved in. I sold out first thing yesterday.

I am stunned that they don't seem to have enough money to fully develop the main field, bizarre. something does not add up here

[riggerbeautz] 23/2/2015 20:09

Maybe should've waited a few hours but this was gnawing at my memory....

CALGARY, ALBERTA--(Marketwire - Feb. 11, 2009) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") announces that it has received an unsolicited expression of interest from a third party with respect to a proposal for a corporate purchase transaction. In response thereto, the Board of Directors of the Company has appointed a special committee of the board of directors to review and evaluate this expression of interest as well as to evaluate all other possible strategic alternatives that may be available to the Company with the intent of maximizing shareholder value. In furtherance of the foregoing, Mart is also seeking to retain a financial advisor to assist in this strategic review process....

As Eggmann says, all a bit deja vu, for those with long enough memories of prices under 10c ;0)

[riggerbeautz] 23/2/2015 15:58

You know I was thinking about the 14c offer too all weekend, similarity is uncanny in some ways, as likely undervalued as you say. Myself I wouldn't give a monkeys about OML18 if they walked away and lost 50 million. It's chump change on a partial oil recovery and churning out the black stuff down 2 pipes; easily a dollar more in a years time.

Edit LOL seen stockhouse and Radcat on there posted something similar, c'mon let's be serious low oil or not, we need a decent premium with these oil bearing sands, or just get the finance sorted, stuff other marginals.

[scrambled eggmann] 23/2/2015 15:52

TBH I doubt if MMT gets sold. Could be a repeat of the 2008 deal situation when the offer was 14c vs a price of 10/11c. That allowed MMT to recover and so this deal with a 30% premium from say 65c (prior to the "mystery buyer" may give a 90c offer.

They should use it as a backstop and get OML18 and the bank loan fixed and we can look forward to dividend restatement in the next year or so.