Mmt Comp. Share Discussion Threads

[riggerbeautz] 29/8/2012 14:53

Poor quarter, recovery rates, odd barrel went missing usual Nigerian stuff ;)

Highlights why we are onto that 2nd pipeline.

Bought a trading batch, well waiting for a call to confirm it got filled.

[scrambled eggmann] 29/8/2012 14:51

What happened?

[riggerbeautz] 29/8/2012 14:17

Yeah saw that on I.V last night, at least the divi stated should provide reassurance.

Need some good UMU 10 news now.

[thegreatgeraldo] 29/8/2012 14:14

Nothing much went right in Q2........

[turborock] 23/8/2012 08:43

well especially with reinvestment which basically compounds it. At least it's in my isa

[riggerbeautz] 22/8/2012 21:16

Eye,eye friends and family time again? That 1.80c has looked a tough one to crack, but is this the primer before an update?

Turbo re divi, basically selftrade paid as near as damn it 48p, whereas T.D was 53p (bit of rounding there), your every bit counts shows the huge difference it can make over time.

[riggerbeautz] 22/8/2012 14:50

Turbo IF I'd have had my entire holding with Selftrade, their business decision would have robbed me of several thousand few quid.

My fault I suppose for not being more clued up, but a few years back I didn't really invest with a dividend in mind. Each to their own as regards decisions, but since I expect to stick around for sometime with MMT, I'll not wait to be kicked twice ;)

Mind still have not had anything from H.L yet :(

[turborock] 22/8/2012 14:39

Hm im still waitng for an email reply from selftrade. But basically they have said to you "we took a business decision to allow you to be taxed more". Um, thanks! It's probably only a few quid, I'm not in here a lot but it'll add up over time.

[riggerbeautz] 21/8/2012 20:26

Wouldn't disagree. Just noticed it is fairly bombed down, the pom poms are being shaken by a few cheerleaders and to be fair they ought to have a good bit of newsflow coming through.

Whether it's successful is another matter.

[thegreatgeraldo] 21/8/2012 19:00

Some PEC background info..

The Alj-2 well was drilled in 1999 with the Silves as the primary exploration target. The well penetrated over 585 metres of Silves
section with oil and gas shows, but testing was unsuccessful. The well also penetrated a 750 meter interval of gas charged Jurassic
Brenha Formation carbonates. The Brenha in this area is characterized by three mappable units: an upper 450 meters of tight
argillaceous micrites underlain by 260 meters of fractured limestones with matrix porosities of 4%-8% and a basal grainstone member
with a gross interval of 40 meters that exhibits intergranular log porosity of up to 11%. Well log analysis indicates the entire Brenha
section is gas saturated, and there is a potential gas-water contact (GWC) at the base of the formation.
An open-hole drillstem test (DST) was conducted and resulted in gas to surface with an estimated unmeasured flow rate of 3 to 5
mmcf/d. After the well reached total depth, casing was set, and three additional DSTs were run. An initial high gas flow rate was
achieved but rapidly declined to less than 0.25 mmcf/d.
The Alj-3 well was drilled in 2000 and is located approximately three km to the north of the Alj-2 well. The well penetrated the
Brenha roughly 60 metres high to the Alj-2 well. Well logs indicate the section to be gas charged but containing significantly less
fractures than seen in the equivalent section in the Alj-2 well. An open-hole testing program failed to provide any conclusive flow
data.
The Alj-2 sidetrack well was drilled as a 45-degree slant hole on a southern orientation. The well encountered fractures in the upper
Brenha, but the section became more argillaceous with increasing depth, and fracturing was not encountered. The Alj-4 well was
drilled 350 metres to the northwest of the Alj-2 well as a twin. It was temporarily abandoned above the primary target fractured
Brenha section and will be re-entered and deepened.

..have to say, things haven't gone to plan on their acreage. They've spent a lot of cash without achieving much.

[riggerbeautz] 21/8/2012 15:46

For sure no, I'm very lazy with that sort of thing, its what accountants are paid for, but I seem to recall 15%. The only other (edit: overseas) dividend payer I had was GORO, which I ditched them earlier this year, I'm sure the accountant mentioned something about dual tax exemption, memo to self to find out more!

Meanwhile trending up again.

[turborock] 21/8/2012 08:02

got my divi with selftrade. 25% tax, though a quick google shows it should be 15%. Anyone know for sure?

[riggerbeautz] 20/8/2012 17:24

Noticed oldish link by Chen Lin, that is where maybe MMT guys picked it up, one of his favourites. Note the bit on if they hit oil he doesn't expect them to be around long.

[thegreatgeraldo] 20/8/2012 17:17

Alcobaca-1 is the really interesting one, set to spud shortly

Plenty of detail in their latest pres,



working capital about 40% of m/cap.

[riggerbeautz] 20/8/2012 17:03

Seems to be a discount to cash, but all the action is going to be in the drilling to come and some free carry from what i've been reading. Just mulling it over.

[thegreatgeraldo] 20/8/2012 16:57

Don't visit SH much these days, I prefer IV...... but PEC are certainly a very busy company given its m/cap



Need to do some more digging I think!

[riggerbeautz] 20/8/2012 16:41

Ha, yes found the same, just wondered if you used anybody different to me, was thinking of switching my H.L holding elsewhere.

Moving on, come in UMU 10. Fingers geting cramp being crossed, can MMT keep the good news flowing?

Have you seen that stock oullins and a few on Ramphouse keep mentioning PEC? Wondering about placing some divvy money in there.

[thegreatgeraldo] 20/8/2012 16:24

No divvy probs with TD, apart from the canuc govt taking their cut!

[riggerbeautz] 20/8/2012 13:44

Seems that was a reasonable call so far(no doubt jinx it today).

TGG did you get your divvy ok, got a bit of a delay with H.L somewhat unimpressed as T.D and Cannacord were on the button, even Selftrade not far behind, mind me asking how you fared?

P.s Call that profit taking, but now got a thick wedge looking for a home lol

[riggerbeautz] 01/8/2012 14:31

Got a feeling we are in the process of finding the next level, building fast now.

[riggerbeautz] 31/7/2012 21:58

Fresh closing high deserves some recognition, even if it is month end window dressing ;)

Edit: See OER got off to a flying start witht their $107m valuation, am I missing something or does the 16k odd trades imply a thin market or lack of confidence?!

[thegreatgeraldo] 30/7/2012 14:37

Hopefully a nice 1-2-3 in August - July production, UMU-10 log results, followed by interims?

[riggerbeautz] 30/7/2012 14:33

Be nice if that date backs up good news from UMU 10, maybe a bit of anticipation might take us to test a new range? Would have thought results should come out 3rd week August?

[thegreatgeraldo] 27/7/2012 18:02

Not seen a date, should be confirmed with the Q2 figures next month? Wade definitely said Sept, whether that's the record, payment date or both remains to be seen