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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mmt Comp. | LSE:MMT | London | Ordinary Share | GB0005503676 | ORD 5P |
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| 0.00 | 0.00% | 0.00 | - |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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Mmt Comp. (MMT) Share Charts1 Year Mmt Comp. Chart |
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1 Month Mmt Comp. Chart |
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| Date | Time | Title | Posts |
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| 13/11/2015 | 15:35 | Mart Resources (TSX) | 1,512 |
| 04/11/2006 | 08:23 | MMT good company bad trading statement any info? | 5 |
| 14/1/2004 | 20:27 | 'Mmmm MMT', says Morton Yummmmmmmmmmmmmmmmmmmmmmm | 91 |
| 29/11/2002 | 10:53 | MMT - bag of spanners | 18 |
| 09/1/2002 | 08:55 | MMT recovery stock | 12 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 09/10/2015 14:54 by dukedosh Mart Resources Inc. has been halted at 6:21 a.m. PT on Oct. 9, 2015, pending news.MW back in again perhaps? |
Posted at 29/8/2015 03:37 by dukedosh This piece summarises the Mart conference call on Friday morning.(Courtesy of Carswell at IV) Mart Resources Inc. (MMT) added three cents to 21 cents on 2.04 million shares, more than regaining the two cents it lost yesterday after its 80-cent-a-share takeover offer from Midwestern Oil, a joint venturer in Nigeria, was officially cancelled. The fact that the stock was in the 20-cent range even before the cancellation shows that shareholders did not believe that the takeover would happen anyway. They seemed reassured by this morning's conference call, hosted by Dmitri Tsvetkov. He has been the CFO for three years and became interim CEO earlier this year after the previous holder of that job, Wade Cherwayko, came under an internal investigation that ultimately found multiple violations of Mart's code of conduct and insider trading policy. Mr. Cherwayko was kept on as a consultant while the talks with Midwestern were going on, but was fully cut loose yesterday once the talks ended. (As for where he is supposed to go next, newspapers in the United Kingdom say jail. As discussed in yesterday's Energy Summary, Mr. Cherwayko received a 21-month jail sentence from a London judge this week for failure to comply with court orders in his five-million-pound divorce case.) Mr. Tsvetkov was full of reassurances during this morning's conference call. He said the relationship between Mart and Midwestern, which work together at the Umusadege and OML 18 oil fields in Nigeria, is still strong. Midwestern even made noises yesterday about a "potential alternative transaction ... in the future." Mart is certainly open to that, said Mr. Tsvetkov, but it is also looking into other options, including mergers, asset sales or simply continuing with current operations. That led to Mr. Tsvetkov's next set of reassurances: that Mart is actually able to continue operations. He talked up Mart's low costs, its increasing production and its plans to keep the increases coming. Specifically, production at Umusadege is expected to reach 25,000 to 30,000 gross barrels of oil a day by year-end, up from around 18,500 in July. Another near-term bit of excitement at Umusadege could come from the results of an exploration well in the western part of the field. At OML 18, which was producing 14,000 gross barrels a day upon its acquisition in March, production exceeded 30,000 barrels a day on some days in August. A reserve report on OML 18 is expected in six months. Moving from operations to finances, Mr. Tsvetkov acknowledged that Mart's $200-million (U.S.) debt is high, but: (1) principal repayments are deferred until March, 2016; and (2) Mart's capital spending at Umusadege is fully financed and OML 18 will ideally be self-financing (though that is not certain yet because the owners are still "carefully assessing the work program"). All in all, his remarks seemed to soothe investors, who need a lot of soothing after their year of watching the stock plummet to 21 cents from nearly $1.50. |
Posted at 28/8/2015 15:56 by riggerbeautz Yesterday's news was not news, most expected it, it's more a case of what price will they deal?O/t had better news at SMB yesterday and worth a longer term wait now funding secure. |
Posted at 28/8/2015 12:36 by dukedosh * Interesting news release from MW yesterday attempting to paper over the cracks! It'll be interesting to see what happens next with these two outfits. Might be worth a small punt at these levels as the share price held up well after the "merger" officially failed.LAGOS, Nigeria, Aug. 27, 2015 /PRNewswire/ - Further to ongoing discussions between Midwestern Oil and Gas Company Limited ("Midwestern") and Mart Resources, Inc. ("Mart"), Midwestern has advised Mart that it is unable to conclude the financing required to consummate the contemplated transaction at the price agreed pursuant to the arrangement agreement, as amended, between Midwestern and Mart (the "Arrangement Agreement"). As a result, Mart has elected to terminate the Arrangement Agreement in accordance with its terms. Midwestern believes that Mart has historically been a strong strategic partner in the development of the Umusadege field. Midwestern anticipates continuing to work with Mart under the defined terms of the existing risk services agreement between the parties (the "RSA"). Midwestern also believes that a potential alternative transaction, which brings together both companies, could provide the shareholders of both companies with additional value in the future. Against the broader macro-environment for emerging market exploration and production companies, falling oil prices, the volatile Mart share price and the unique nature of Mart's interest in the Umusadege field by virtue of the RSA, it has not been possible for Midwestern to raise the financing in a manner that preserves value for its shareholders. Midwestern will continue to explore strategic alternatives with Mart in addition to alternative funding sources. Midwestern, as the operator of the Umusadege field and Umugini Asset Management Company Limited (pipeline operator), will continue to remain focused on operating and further developing the Umusadege field and supporting the management team of Eroton Exploration and Production Company Limited in operating the recent OML 18 acquisition. |
Posted at 25/8/2015 21:52 by here and there blimey, I had not seen the share price when I posted.if you had some millions and some patience, you could make a fortune buying and mothballing mmt until the OP comes back to sensible levels though i had screwed up when i sold up here a few months ago, seems i was lucky |
Posted at 22/8/2015 15:31 by here and there Drop I oil price has scuppered deal.....new deal at 50-60? |
Posted at 18/8/2015 18:07 by dukedosh * Not a good news release here just before the open. Down another 25%, the shafting continues....CALGARY, Alberta – Mart Resources, Inc. (TSX: MMT) (“Mart” or the “Company” For more information, please contact Dmitri Tsvetkov, interim CEO and CFO at Mart’s London, England office at # +44 207 351 7937 or by e-mail: dmitri.tsvetkov@mart |
Posted at 20/3/2015 10:11 by scrambled eggmann So is there life in the old dog? If MMT get their pro-rata share of production revenue and pay the due amount do we even need to sell any more?If the payments are made for the debt then I am inclined to vote no. |
Posted at 02/3/2015 20:11 by dukedosh That hits the nail on the head SG31.With POO at $100+ bbl, production 30k+ bopd, OML18 development plan in the diary, CPR priced in, the share price would be the C$3-4 range. That's what i was holding on for, riding out this oil price storm. 12-24 months would have seen us smiling again, just like 2008, but no we are being robbed in broad daylight of our upside. No one else is likely mad enough to bid against MWO+G, the Umusadege field operator. No hostile competitor could work with that! IMO the only way a 3rd party could enter this ring is to take over both MMT and MWO+G, possible but not probable IMO. |
Posted at 23/2/2015 15:52 by scrambled eggmann 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. |
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