Mmt Comp. Share Discussion Threads

[riggerbeautz] 23/2/2015 15:35

Didn't want to say, but I guessed as much ;)

[scrambled eggmann] 23/2/2015 15:25

Feel a lot better as well after the NR, but the stress levels still high. Maybe will take a small amount just to even up the holding!

Some on IV were trying to make a comparison with Afren, however Marts reserves and production are present and correct (pipeline losses excepted).

Afren saw $600m go up in smoke in Kurdistan and hence the major reason why they almost bankrupted themselves IMO.

You know it was funny all the speculation about who was buying Mart on Thursday and Friday and that they "knew something"!!! They certainly did not!!! :-)

[dukedosh] 23/2/2015 15:25

Thinking about adding again myself. C$1.30 was FE's most recent valuation. Tempting.....

[riggerbeautz] 23/2/2015 15:17

Bought a few more myself.

[dukedosh] 23/2/2015 14:42

NR today is a massive relief and comfort! Puts to bed the speculation about the other less savoury matters being banded about somewhat. That was a worrying 24 hours. I feel a whole lot better about this now.

[sg31] 23/2/2015 14:40

What a stupid set of idiots. If they had said that in the first place many investors would have been saved a lot of heartache.

I find it difficult to believe that people who are supposed to be experienced board members can earn so much and be clueless.

[scrambled eggmann] 23/2/2015 13:06

Offer for Mart unless I am reading the NR incorrectly.


Mart Resources, Inc.: Update of Strategic Review Process

CALGARY, ALBERTA--(Marketwired - Feb. 23, 2015) - Mart Resources, Inc. (TSX:MMT) ("Mart" or the "Company") announces that the independent Special Committee formed to identify, examine and consider strategic and financial alternatives available to the Company has retained FirstEnergy Capital LLP of London, U.K. and Calgary, Canada to act as Mart's financial advisor to advise the Special Committee regarding the Company's receipt, prior to the formation of the Special Committee, of an unsolicited, non-binding offer to acquire Mart and all other matters arising in the context of the Special Committee's previously announced mandates.

[dukedosh] 22/2/2015 21:53

I've been away the weekend and come home to this !

We needed this news like a hole in the head. A simple recovery on the back of production and POO increases would have been suffice but no, not so simple with MMT. This may well turn out to be very good for share holders long term but I reckon the price will get horse whipped early on Monday due to nothing else but good old fashion uncertainty.

This is Nigeria. Nothing is getting announced quickly so even more patience is required. In the meantime, the speculators will speculate on just about anything and everything.

Wade's stock sells must be divorce related, possibly backed with a court order to pay the ex her money. He isn't daft enough to break rules for anything else.

If you thought this was interesting before, I fear we aint seen nothing yet.

Good luck all.

[riggerbeautz] 21/2/2015 19:21

For once in a few years I'm the right side of a couple of trading batches managed to sell and reinvest some in SEPL, some in RST both I've took half off in spikes, so a bit of fortune trading Mart first time in a year or more.

Any lurch down and bounce could play well if I get my timing right, all depends on whether there is a bidder lurking as you say. Interesting week ahead. We have ouddles of oil, I've been thinking for ages this OML 18 uncertainty has been more damaging than anything else; the review will surely spell out that position, which is long needed. Personally I hope we can walk away, with maybe a deposit lost, that would not concern me too much.

[scrambled eggmann] 21/2/2015 16:21

Shall not be adding anymore. But wish I held off until next week!

I don't think it is as bad as the people on IV are making out as it is probably related to the morning NR.

Maybe they prefer to sell it as Wade may have to go.

If they were smart they would have an offer lined up Monday morning or halt for a short while. The debt is manageable with their current production but I see it opening well down and then bouncing.

Also a production update on Monday may steady the ship, but let's see.

[riggerbeautz] 21/2/2015 12:03

Monday going to be interesting, don't think you need worry about chasing the price, there will be plenty of flippers out there next week!

[scrambled eggmann] 21/2/2015 03:52

What a time to get back in! So Wade under investigation, but the oil is till flowing.

[riggerbeautz] 20/2/2015 07:13

Then that would explain a very helpful change of chart lol good to see you back.

[scrambled eggmann] 20/2/2015 06:57

Rigger - I did change the chart a little yesterday! We need a new thread too. I still got more to buy but will not chase it.

I will have a look at SEP but not on my monitor, however I think MMT with the increased production and restated dividend (hopefully later in 2015) should be OK, hence buying back 60% of my old shares after almost three years.

[dukedosh] 20/2/2015 01:11

Yes TGG, more good news for friends and family to sell into!

I will sleep well the weekend knowing we have a decent monthly update coming our way. Hopefully one or more of: TF and AGIP still running, losses confirmed at <10%, production ramped up to C.30k bopd, OML18 deal closed (doubtful before elections), MMT buying DSG's shares in MWO&G perhaps (tongue in cheek), dividend re-instated (now I'm dreaming!)......

Should we start a new thread with a new chart, header, et al?

[thegreatgeraldo] 19/2/2015 21:23

Friends & family time - news on Monday/Tuesday?

[riggerbeautz] 19/2/2015 21:13

Good to see you back. Don't suppose you can ask your twin brother to change the chart :0)

O/t have made a good move in SEPL of late, you followed that eggman?

[scrambled eggmann] 19/2/2015 21:07

Bought some today

[riggerbeautz] 19/2/2015 21:04

Hmm volume spike.

[riggerbeautz] 02/2/2015 20:48

Ops update was sound, always something with MMT were waiting for though. Wouldlike to think oil is stabilising, just much lower than when deal done with Shell and so little out in the open as to the cost; just frustratingly the latest drag - one and all that, it might just all come together!

O/t yes I hold Seplat, quiet b.b until late, just Afren story will attract noisy crowd I expect.

[riggerbeautz] 01/2/2015 18:09

Given up on predictions here, did look more like a oil relief rally though, only because volume wasn't that great.

O/t noticed your interest in Seplat, could be on for cheap asset grab that one.

[dukedosh] 30/1/2015 22:18

Up nearly 10% this Friday session, particularly busy late in. Perhaps it's the end of the month short covering of oil futures? Perhaps it's yet another friends and family rally that will be sold into Mondays' news by the "in the knows"? If so, then these leak news more than the Agip, Nembe and Forcados pipeline losses combined! We shall soon see.....

[dukedosh] 09/1/2015 13:44

No dividend for Q4 as broadly expected but fantastic UMU13 results!