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Mart Resources Inc mmt.v C$.17
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langenburg



Joined: 12 Jan 2007
Posts: 25

PostPosted: Tue May 24, 2011 3:30 pm    Post subject: Reply with quote

"High risk but stupid cheap" is a great way to describe this stock.
Great info and Nigeria truly is the risk.
May wait for Q1 results to pull the trigger on purchasing more.

Thx
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Fri May 27, 2011 4:20 pm    Post subject: MMT.v +.05 to C$.66 Reply with quote

Mart had a good bounce today along with most commodity and energy stocks. Price of oil only nudged up a bit but stock investors were feeling pretty good about energy and commodities.

Mart is around 7,000bpd net and headed for 10,000bpd towards year end as UM-8 is drilled and completed.

UM-9 is next and should spud before year end. UM-9 is important to Mart because it's in a part of the reservoir that isn't getting credit from the reserve engineers so proving up that portion will add measurable reserves to Mart's totals, which is important because they are producing enough now to put a dent in reserves.
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Tue May 31, 2011 10:02 am    Post subject: new presentation Reply with quote

http://www.martresources.com/w.....a-v3-1.pdf
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Wed Jun 29, 2011 9:57 am    Post subject: Q1 .03eps Reply with quote

MMT.v -.02 to C$.55

Q1 showed good increases in production and total revs as UM-7 produced for the full qtr. The next well, UM-8, is drilling at 5,000 feet so should be tested in July.

Total field production was around 10,000bpd with Mart earning 61% of that due to the cost recovery for UM-7. Mart gets to recover 100% of it's drilling costs and then reverts to 50% sharing of revs. UM-7, just completed last qtr is paid for. UM-8 expenses will now start being recovered.

Still cheap, still in Nigeria. Waiting for production and cashflow to get so high that either investors can't resist or someone buys them for the cashflow and production.




http://finance.yahoo.com/news/.....0&.v=1
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Tue Sep 20, 2011 7:41 pm    Post subject: Mart tests UM-8 Reply with quote

Mart reports another successful well. This one should produce 3-5,000bpd also. But they need a pipeline agreement to allow up to 20,000bpd. Currently limited to 7500bpd. Even with that, they are very cheap on a price to cashflow basis. Nigerian discount plus pipeline constraint keep this stock in extreme valuation territory. Still my number 1 position but getting frustrated.




Mart Announces UMU-8 Well Initial Test Results

CALGARY, ALBERTA, Sep 20, 2011 (Marketwire via COMTEX News Network) --
Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited, are pleased to report the initial test results from the zones tested on the UMU-8 well and provide an update on production in the Umusadege field, onshore Nigeria.
The first extended test on the UMU-8 well was conducted on the XV sand, an 11 foot oil zone, which flowed at a stabilized rate of 4,205 barrels oil per day ("bopd") of 44 API gravity oil through 3 1/2 inch tubing on a 28/64 inch choke at a flowing tubing pressure of 140 psi. Basic sediment and water (BS&W) was 0% with gas/oil ratio of approximately 175.9 standard cubic feet per barrel.
The second extended test on the UMU-8 well was conducted on the X11(a) sand, a 39 foot oil zone, which flowed at a stabilized rate of 1,140 bopd of 36 API gravity oil through 3 1/2 inch tubing on a 24/64 inch choke at a flowing tubing pressure of 90 psi. Basic sediment and water (BS&W) was 0% with gas/oil ratio of approximately 25 standard cubic feet per barrel.
Further updates will be provided once testing has been completed.
Crude oil deliveries into the export pipeline from the Umusadege field between 1st and the 16th of September averaged 7,491 bopd. Aggregate Umusadege field downtime over this period was approximately 0.7 days due primarily to field maintenance issues.
Negotiations with the operator of the export pipeline to increase capacity are ongoing.
Additional information regarding Mart Resources, Inc. is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.
Note: Except where expressly stated otherwise, all production figures set out in this press release, including bopd, reflect gross Umusadege field production rather than production attributable to Mart. Mart's share of total gross production before taxes and royalties from the Umusadege field fluctuates between 82.5% (before capital cost recovery) and 50% (after capital cost recovery).
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Tue Nov 15, 2011 3:31 pm    Post subject: MMT.v +.04 to C$.60 Reply with quote

Mart showing a little life. Pipeline issue has been holding back production from new wells. Still cashflowing nicely but production should move well above 12,000bpd gross once pipeline agreement is signed.

Rumors that AGIP has agreed and will sign soon are circulating but that has happened before and no announcement has followed. We'll see if this is the time. Price should pop if we really get an announcement. 52wkhi is C$.77. Should get challenged if we get pipeline agreement PR.
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Wed Nov 16, 2011 4:46 pm    Post subject: +.06 to C$.68 Reply with quote

Mart continues strong today. Company has been presenting and somebody must have liked what they heard. Very undervalued on any basis. If the pipeline gets approved, they are priced at less than 1X fwd p/e.
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Tue Nov 29, 2011 2:06 am    Post subject: Mart earns .06eps, cashflows .125 Reply with quote

Q3 report due out tomorrow morning

Great Q3 considering production has been limited. Cash position strengthened to 14 million

Mart selling for 2.5X fwd p/e

selling for 1X fwd cashflow

Imagine if they could produce at full blast instead of being limited to 8,000bpd gross. Currently capable of 12,000bpd with another well being drilled.

Mart's share is 50% but they get 87% during cost recovery for drilling/completion expenses.

AGIP pipeline agreement is still pending. Crucial to future success of Mart.
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Tue Nov 29, 2011 12:39 pm    Post subject: Actual eps for Q3 is .06, cashflow is .19 MMT.v is C$.64 Reply with quote

http://finance.yahoo.com/news/.....2.html?x=0
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Mon Dec 05, 2011 12:12 pm    Post subject: MMT.v +.04 to C$.70 Reply with quote

No news but rumors that pipeline deal is close. Please be true this time. Mart still my biggest position so waiting for pipeline deal to open floodgates of revs and cash. JV currently producing around 8500bpd(Mart 50% after cost recovery). Could be producing 12,000bpd + right now if allowed. Pipeline has capacity but AGIP wants more money for "theft and damage to pipeline".

Mart has refused to sign at their original request of over 10%. Will still cost more than before but Mart needs to get the revs from the new production. Currently drilling UM-9 so surplus could grow soon.
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Wed Dec 07, 2011 3:55 pm    Post subject: Mart still hot +.09 to C$.83 Reply with quote

Big volume of 4.32million shares. Don't know if pipeline deal is inked yet but favorable mention in Pescod newsletter and recommend by Chen Lin helped.

There is a danger if the pipeline deal doesn't come thru pretty quickly.

New52wkhi!
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langenburg



Joined: 12 Jan 2007
Posts: 25

PostPosted: Thu Dec 08, 2011 4:09 pm    Post subject: Reply with quote

What price target would you sell at if it starts falling ???
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Thu Dec 08, 2011 4:45 pm    Post subject: price to sell Reply with quote

Mart is my biggest holding so I'm not selling. This is a short term pop based on the hope that the pipeline agreement is going to be inked soon. The exposure of Mart thru Pescod's newsletter and the recommendations by Chen Lin and Jay Taylor have created the volume but the company needs to produce the real deal. They NEED that pipeline deal or the great wells they have drilled in the last couple of years are going to be wasted.

The other reason I wouldn't sell is that WHEN/IF they get the damn pipeline agreement in place AND it's not too punitive to cashflow, MMT.v should have a big move up in price. Once the increased production generates big cashflow, the company could declare a dividend to increase investor interest. That should help the stock price. All this could take several months to fully play out.

If you are a short term investor in Mart, the profits are obviously slipping away because no followup news. $.80 should be a nice profit for anyone who bought this summer. However I think the medium term looks pretty good. The company should get the agreement signed by year end and start 2012 off with a bang. They also could get a big increase in reserves as the engineers review the new production patterns( low decline rates) and the multiple zones that are currently behind pipe.

We also have upcoming news on the UM-9 drilling results and exciting projects like the upcoming horizontal wells that could dramatically increase reserves and production. Company is building out a 30,000bpd processing facility for the Umadasege field! Mart gets 50% after cost recovery so 15,000bpd possible net to Mart instead of the current 4,000bpd!
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Tue Dec 20, 2011 1:41 pm    Post subject: mmt.v +.04 to C$.82 Reply with quote

They won't be able to pump it when completed but hope springs eternal!

They are supposedly very close to announcing a new pipeline agreement that would allow them to produce all this oil. Currently around 9,000bpd gross(4500net to mmt). Current capacity after UM-9 will likely be 13-15,000bpd gross. Remember company is building treatment facility to handle 30,000bpd so they have high hopes for this field.


CALGARY, ALBERTA--(Marketwire - Dec. 20, 2011) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited, are pleased to provide the following update on the UMU-9 well.
The UMU-9 well commenced drilling operations on November 18, 2011 and is currently at a depth of approximately 8,311 feet, concluding the intermediate vertical section of the well. Open-hole wireline logs have been run with results indicating a total of 11 hydrocarbon-bearing sands. The well logs indicate a cumulative gross oil pay of approximately 260 feet in the 11 sands encountered by the well to date.
The next phase of operations will include conducting pressure surveys on prospective zones and acquiring fluid samples. Well operations will then continue with running 9 5/8 inch casing in the open hole. The bottom hole deviated section of the well will then be drilled with an 8 1/2 inch hole to total measured depth of approximately 11,000 feet to explore the deeper untested targets (including the C0 sand) while running a measurement while drilling ("MWD") tool followed by a logging while drilling ("LWD") tool to evaluate the potential hydrocarbon bearing sands.
CHAIRMAN'S COMMENT:
Wade Cherwayko, Chairman & CEO of Mart Resources, Inc., said "We are very encouraged with the initial open hole well log results in the UMU-9 well. These initial results indicate the potential extension of numerous shallow reservoirs discovered in previously drilled Umusadege wells and demonstrate the upside of the Umusadege field."
Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.
INVESTOR RELATIONS:
Investors are also welcome to contact one of the following investor relation's specialists for all corporate updates and investor inquiries:
FronTier Consulting Ltd.
Mart toll free # 1-888-875-7485
Attn: Sam Grier
Caleb Gilani
Email: inquiries@martresources.com
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Bobwins



Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa

PostPosted: Thu Dec 22, 2011 3:17 pm    Post subject: Mart finally gets extra pipeline capacity Reply with quote

This should boost potential production for JV to 15,000bpd. Mart has several wells behind pipe but it will take several months to bring all wells into production. Mart will also be careful about ramping up production in each well so they don't damage the formation. So expect 11,000bpd in early January and up from there. UM-9 should be fully drilled, tested and completed by end of January.

There is also talk of a dividend for Mart by end of Q1. Maybe .10 for 2012 and .20 for 2013. Cashflow could be as much as 200million in 2012 for Mart, depending on future drill results.

CALGARY, ALBERTA--(Marketwire - Dec. 22, 2011) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited, are pleased to announce an increase to export pipeline capacity and a production update for the Umusadege field.
Export Capacity Agreement Update
An agreement has been reached with Nigerian Agip Oil Company ("NAOC"), the Nigerian operator of the export pipeline, to increase the combined export capacity for the Umusadege field and other fields in the area (collectively, the "Cluster") by 10,000 barrels of oil per day ("bopd"), bringing the total export capacity for the Cluster from its current level of 11,000 bopd to 21,000 bopd. The additional export capacity, which is expected to be implemented in several phases over the next four months, will be allocated among the Cluster members on a pro-rata basis based upon the production capacity of the fields in the Cluster and other factors.
The first phase of the export capacity increase, which was implemented this week, has resulted in Cluster export capacity increasing by approximately 4,000 bopd to 15,000 bopd. Since the implementation of the export capacity increase, a majority of increased Cluster export capacity has been allocated to the Umusadege field. Once the additional export capacity is fully implemented, Mart and its co-venturers anticipate that the Umusadege field will continue to be allocated a majority of the total export capacity available to the Cluster.
November Production Update
Crude oil deliveries into the export pipeline from the Umusadege field for the month of November 2011 averaged 7,994 bopd. The Umusadege field experienced production downtime of 1.62 days over this period due mainly to operational shutdowns and export facility capacity curtailments.
Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.
INVESTOR RELATIONS:
Investors are also welcome to contact one of the following investor relation's specialists for all corporate updates and investor inquiries:
FronTier Consulting Ltd.
Mart toll free # 1-888-875-7485
Attn: Sam Grier
Caleb Gilani
Email: inquiries@martresources.com





CALGARY, ALBERTA--(Marketwire - Dec. 22, 2011) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited, are pleased to announce an increase to export pipeline capacity and a production update for the Umusadege field.
Export Capacity Agreement Update
An agreement has been reached with Nigerian Agip Oil Company ("NAOC"), the Nigerian operator of the export pipeline, to increase the combined export capacity for the Umusadege field and other fields in the area (collectively, the "Cluster") by 10,000 barrels of oil per day ("bopd"), bringing the total export capacity for the Cluster from its current level of 11,000 bopd to 21,000 bopd. The additional export capacity, which is expected to be implemented in several phases over the next four months, will be allocated among the Cluster members on a pro-rata basis based upon the production capacity of the fields in the Cluster and other factors.
The first phase of the export capacity increase, which was implemented this week, has resulted in Cluster export capacity increasing by approximately 4,000 bopd to 15,000 bopd. Since the implementation of the export capacity increase, a majority of increased Cluster export capacity has been allocated to the Umusadege field. Once the additional export capacity is fully implemented, Mart and its co-venturers anticipate that the Umusadege field will continue to be allocated a majority of the total export capacity available to the Cluster.
November Production Update
Crude oil deliveries into the export pipeline from the Umusadege field for the month of November 2011 averaged 7,994 bopd. The Umusadege field experienced production downtime of 1.62 days over this period due mainly to operational shutdowns and export facility capacity curtailments.
Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.
INVESTOR RELATIONS:
Investors are also welcome to contact one of the following investor relation's specialists for all corporate updates and investor inquiries:
FronTier Consulting Ltd.
Mart toll free # 1-888-875-7485
Attn: Sam Grier
Caleb Gilani
Email: inquiries@martresources.com
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