Mmt Comp. Share Discussion Threads

[dukedosh] 31/1/2014 21:01

New Presentation shown to the Africa Oil and Gas Summit dated 28 & 29 Jan 2014.

[dukedosh] 20/1/2014 22:03

Agreed. Duly edited! lol

More oil! That's my point. Mart needs these wells developed ready to produce to the new pipe.

By Christ we longs suffered in 2013. So might we be excused for getting a tad excited when we get all this good news at once? lol

[riggerbeautz] 20/1/2014 21:52

Can we politely refrain from using the word transformational, number of times it's used on these boards and fails to materialise! lol

Think the other little registered news is yet more oil!

[dukedosh] 20/1/2014 21:43

December numbers are actually bloody marvelous considering AGIP pipe line "losses" are a big fat zero, as determined by Government.

Corner turned indeed. I bought back all my traders this session @1.23.

As we approach the completion of the new pipeline, we can expect more reserves being built up behind pipe.

EDIT: Baring any unknowns, 2014 prospects look very positive for Mart.

[riggerbeautz] 20/1/2014 20:27

Much better N.R. We knew the Dec figs were not going to be anything special, but the pipeline news suggests a corner being turned on the bigger picture.

Onwards and all that!

[riggerbeautz] 03/1/2014 16:47

Agip scenario hotting up by look of yesterday's N.R. Going to be an interesting few months ahead, need that 2nd pipeline to light the touch paper now.

[riggerbeautz] 25/11/2013 15:48

Traders eh, be good if it settles around this mark.

[dukedosh] 22/11/2013 20:13

Sold my traders at C$1.35. IMO it rose too much, too soon. Still, no complaints with the 34% profit.

[dukedosh] 21/11/2013 21:43

My traders are doing rather well on the back of this share price pop. Good to see it held onto most of the gains, very bullish. After the updates and interview, I have it in mind to add them to my core holding. Reckon this stock is going to get rather tasty next year. As far as I'm concerned, you can scream it from the roof tops as i have a full holding here.

[riggerbeautz] 21/11/2013 21:15

P.S if this is from the interview, shows what the pipeline excitement will bring!

[dukedosh] 21/11/2013 15:53

MMT absolutely flying today after the Wade interview and updates.

For those that haven't seen it, Interview Highlights:

13k bopd current production.
20k production possible but export constraints on AGIP pipe.
2P reserves in excess 40mm/bbl.
New export pipe ready around 2Q14.
Production immediately will increase to 25k bopd.
Capacity 40k bopd.
New wells ready to produce and behind pipe.
More development wells planned.
Main TSX board listing planned.
London listing planned for 2014.
Finance needed to buy neighbouring licences.

No surprise then that the market reacted upwards

[riggerbeautz] 20/11/2013 23:10

Probably as frank an interview, as i've ever heard from Wade.

Mart just gotta get it down the pipe better - though he wasn't in denial on setbacks, nor importance going forward. Can imagine a few things improving before the London charm offensive, but it's all in the drills, these fields just gush oil, nice interview Duke.

[dukedosh] 20/11/2013 19:47

Very bullish interview with Wade at the OCWA 2013.



Well worth the watch. Around the 4:19 mark, Wade categorically states the divi is safe.

[riggerbeautz] 20/11/2013 18:56

Never seem to do much wrong with the drill, if given time.

[dukedosh] 20/11/2013 17:18

* This update today looks very good. Market likes it too. Wade says it's some of the best initial flow rates seen to date.

UMU-11 Initial Well Test Results

The UMU-11 well encountered 294 feet of gross oil pay in 13 sands. The well was
intentionally drilled to a shallower depth than UMU-9 and UMU-10, therefore did
not encounter the deeper sands from previous wells. The sands selected for
completion in the UMU-11 well were the IX, XIIb, and XIIIb sands, with combined
gross oil pay of 84 feet. Using dual tubing string technology, two of these
zones can be produced separately and simultaneously. The cleanup and extended
flow tests have been completed on the XIIb and XIIIb sands, with the IX sand
still to be tested.


The testing of the XIIb sand yielded a stabilized rate of 3,650 bopd at 41
degree API crude oil on a 28/64 inch choke setting and flowing tubing head
pressure of 500 psig. Basic sediment and water ("BS&W") was 0.4%.


During the test of the XIIIb sand, the well flowed 43.0 degree API crude oil at
a stabilized rate of 1,520 bopd on a 32/64 inch choke setting and flowing tubing
head pressure of 260 psig and BS&W of 0.4%.


One UMU-11 well test remains, being the individual testing of the IX sand. All
sands have been initially tested on restricted choke setting during cleanup.
Following the cleanup operations, each sand will undergo multirate flow testing
on various choke sizes.


Wade Cherwayko, CEO of Mart Resources, stated: "The initial flow rates from
UMU-11 are some of the best we have had to date, in particular from the XIIb
sand. This establishes the capability of the field to deliver additional
production when the pipeline constraints are removed."

[polyps] 20/11/2013 10:33

Sorry, my concern is that the dividend will have to be cut in the near future as they are borrowing to pay it and that is why I have decided to sell out fully.

If this occurs I think there will be a downdraft in the stock even if it is undervalued at this price and a good entry point at this stage.

Everything takes triple the time. I read an old 2012 presentation and in 18 months they are no further forward.

They have a highly productive but small single asset in Cowboy land and I have been grateful to own it. I suppose I just am trying to protect hard won profits and can't afford to lose 1/2 again of the gains made.

Do any of you have an idea of the Netback after the marginal field status ends? The barrels produced in 2014 and beyond are going to be less profitable but the question is what will the profit be?

If it halves they will need to produce double the volume so it may not be far off the value it reached earlier this year. The chart has broken down and confidence has been lost so I think it will be a slow climb once all in place as retail will sell out in the $1.60 range.

Any hope of $3 are pie in the sky and there must be easier and less risky ways to double your money from here.

Good luck all Martians, I may dip in again if volume breaks to the upside with price or if there is a bloodbath if the dividend is cut, although this is already priced in at near 20% yield.

Much safer bets to me seem to be YGR,DCK and RMP in Canada, DXE, MPI and INA in International markets and HWO as a diversified service provider (PNG and Canada)

Good luck and I may be back buying soon!

[dukedosh] 19/11/2013 20:14

I might have a go at Seplat if and when it happens but certainly not MPI for previously stated reasons.

At the moment though these are nervy times for MMT holders as we patiently await events, in what seems to be a Nigerian time warp, although I thought the Q3 numbers unsurprising and news rather sterile.

Picking up a few more traders whilst share price is down here.

[riggerbeautz] 19/11/2013 19:53

Polyps when/if may well be the key to MPI, I think you're not in disagreement with Duke pointing out volume, if investing £2k or less it's a punt, anything many multiples of that size does indeed matter!

Whether bull or bear on Mart you can generally trade volume in and out. Personally I had a few more than yourself at low levels and too sold some (others I know had more), only to rebuy and some! Just like the risk/reward even more whilst Mart keeps churning out 5c a quarter for now. Each to their own I guess, even if it means swallowing hard :)

edit: 4 posts on this thread, i thought i'd missed news, back to snooze mode.

[dukedosh] 19/11/2013 16:00

"OJ did not post on this news that you seem to admire. "

I don't understand. What news is it that you claim I admire?

[polyps] 19/11/2013 14:58

I agree but this is why it is undervalued listed on Paris. When/if Seplat lists on the LSE value will be created. Also the Swiss hedge fund that took a 10% stake for $100 million values puts a bottom value on the 35% they currently own. This portion was sold to meet the LSE criteria for listing.

This would value their current 35% assets at $350 million + cash of $240 million = $590 million EV plus assets in Myanmar and Canada on top. Current Market Cap is $480 million hence value.

I have been in MMT longer than most-since 14c. I have followed it for a long time. It does not control its asset and is reliant on the CEO (he is dodgy if you ask me and not someone I would trust with savings than couldn't be lost). The reward is possible at this price but risks, as shown the last 6 months, are massive. I used to own over 300000 shares. I am now down to 20000.

If the line is not built in 2014 they are in big trouble. No dividend, growing debt and at the mercy of the AGIP pipeline and "local" community.

Not sure if you saw this. OJ did not post on this news that you seem to admire. His picks have been poor if you look objectively but he has plenty of sheeples.

hxxp://dailyindependentnig.com/2013/09/community-condemns-attack-on-oil-firm/

[dukedosh] 19/11/2013 09:43

I looked at MPI some time back. I Liked the company but didn't like the Paris listing, at the time low volume and illiquid market, so decided against MPI. It could be a value trap.

Apart from MMT, if you're looking for exposure to Nigerian upside then take a look at HOIL and ELA, both have near to medium term blue sky upside potential.

For disclosure, I am in MMT, HOIL and ELA.

[polyps] 19/11/2013 09:32

If you want Nigerian risk, MPI is a much better prospect. Note they have diversified massively the last year to hedge their bets with deals in Canada and Mynamar.

They own 35% (currently) of Seplat a far larger and better governed oil entity that is winning licences and has Nigerian indigenous status. Seplat plans to list on the LSE this year (see it when it happens). There pipeline has fixed losses at 8% not 25%!

Net to MPI is around 10000 BOPD. In August had 240 million Euros. Cash machine. It is undervalued as listed in Paris. Quality management. Far better value with MMT lossing their marginal field status in 2014. More net barrels, more stable production, no debt to pay dividend and thus can grow organically. Seplat also operate the field unlike all other groups.

In my eyes a far better prospect than MMT.

Comments please as I have done due diligence on both and feel this is worth a look.

[riggerbeautz] 12/11/2013 17:36

Give em their due, fairly consistent at it.

Frustrating as the wait now is, how much more price capitulation at this level is debateable, most of the damage appears done; we're on a Nigerian wait out the pipeline timeline and collect the divi meantime. Any other upgrades, increased production news etc is just bonus whilst we wait, oh and helps steady those of a nervous disposition!