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Mart Resources Inc mmt.v C$.17
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coach247



Joined: 08 Apr 2004
Posts: 6774
Location: Milton, Ontario

PostPosted: Tue Oct 02, 2012 8:57 pm    Post subject: Reply with quote

The market seems to be telling us good news is on the way: Steady uptrend on high volume the last few days. I got filled on a stink bid, in part because I was worried about a takedown in gold and silver so I wanted to have some money parked in oil for a few weeks, but it looks like the timing was pretty good. I wonder if they have hit some success at the end of the drill bit?

I maintain a core position for the dividend but there is plenty of trading potential with this one as well.

cheers!
mike
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Bobwins



Joined: 05 Feb 2007
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Location: Seattle, Wa

PostPosted: Wed Oct 03, 2012 7:29 am    Post subject: possible catalysts Reply with quote

Mart has several catalysts near term:

1. UMU-10 is drilling and testing several deep zones that could be present over a wide area and unlock a whole new set of reserves and future production.
2. We have been waiting for a Shell agreement to allow Mart to build a 54km pipeline to hook up with Shell's big export pipeline. This is crucial to increasing production. Currently Mart is maxed out on their only export pipeline so new wells can't be brought on production. Mart says it's the Shell bureaucracy that is holding things up
3. There is talk that Mart might merge with a local company, possibly giving them advantage in pursuing Nigerian oil fields.
4. Nigeria has said they will award additional marginal fields like Umusadege. Mart has applied for several.

In addition to these catalysts, Mart paid it's second dividend yesterday. The rate is still 12%, even after the recent stock price rise. Mart has been recommended on BNN and is getting more attention.
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coach247



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PostPosted: Thu Oct 11, 2012 12:07 pm    Post subject: Reply with quote

Completion of UMU-10 in 45-60 days? Countdown to liftoff...

Quote:
UMU-10 Well Update

The UMU-10 well has reached a final total drilling depth of approximately 9,757 feet. The next phase of operations will include open hole well logging, 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 primary objectives of the UMU-10 well are the oil-bearing sands identified in the 8 1/2 inch deviated hole section of the UMU-9 well. The oil-bearing sand discoveries from UMU-9 account for 170 feet of gross oil pay. Based on UMU-10 preliminary results from logging-while-drilling (LWD) technology, the target sands identified by the UMU-10 well have been similar in thickness to those encountered in the UMU-9 well. Up to four of these sands could be completed in UMU-10. The completion and testing of the UMU-10 well is expected to take approximately 45 to 60 days.


http://www.equities.com/news/h.....cat=energy

I own a small core position of this one.

cheers!
mike
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Bobwins



Joined: 05 Feb 2007
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Location: Seattle, Wa

PostPosted: Thu Oct 18, 2012 1:08 pm    Post subject: Mart presented at conference Reply with quote

http://www.wsw.com/webcast/canaccord7/mmt.v/


Investors must have liked the presentation. Pipeline agreement just waiting for signatures at Shell. Work being done on pipeline basics, buying land, pipeline components,etc while waiting for final agreement to be signed.

Big upside after pipeline is done plus potential of more marginal fields.
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Bobwins



Joined: 05 Feb 2007
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Location: Seattle, Wa

PostPosted: Wed Oct 24, 2012 11:17 am    Post subject: Mart strong in a up down market Reply with quote

+.06 to C$1.90 2.00 looks doable before year end.

new all time high.

Mart is due to report results from UM-10, affecting future production but more importantly future reserves. Deeper zones were the target and if they test well, could be present in many other current wells.

Pipeline deal still supposed to be close to closing.

Vague talk of merger with their partner to gain an advantage in bidding for more marginal fields. Apparently there would be a special dividend declared if the merger goes thru.

Should get at least UM-10 test results before end of November.
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Bobwins



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PostPosted: Mon Nov 05, 2012 12:43 pm    Post subject: mmt.v +.03 to C$1.88 Reply with quote

2012-11-05 08:46 ET - News Release


Mr. Wade Cherwayko reports

MART RESOURCES, INC.: UMU-10 WELL UPDATE

Mart Resources Inc. and its co-venturers, Midwestern Oil and Gas Co. PLC (operator of the Umusadege field) and SunTrust Oil Co. Ltd., are providing an update on the UMU-10 well at the Umusadege field in Nigeria.

As previously announced, the UMU-10 well has reached a final total drilling depth of approximately 9,757 feet. UMU-10 is an appraisal well targeting the sands encountered in the UMU-9 exploration/step-out well, including the deep sand discoveries. Based upon comprehensive open hole logging, the UMU-10 well encountered 479 feet of gross pay in 20 sands. The reservoirs encountered are consistent with the findings in the UMU-9 well, with one additional oil-bearing discovery in the UMU-10 well that was wet in UMU-9. The five deep sand discoveries encountered in UMU-9, along with the additional oil sand encountered in UMU-10, have not previously been flowed to surface. These deep sands are the primary testing and completion targets for the UMU-10 well.

Downhole pressure and fluid sample tests were taken over all reservoirs. Preliminary evaluations based on log and drilling data for the UMU-10 well show 19 light oil reservoirs and one gas/condensate reservoir. These conclusions are consistent with results of tests on the UMU-9 well. The down-hole fluid samples have confirmed hydrocarbon type, and will provide critical information for reservoir management and field development planning.

The completion program and production testing operations on the UMU-10 well will continue through November 2012 and are expected to take at least 30 days.

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.

We seek Safe Harbor.
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kjm



Joined: 13 Jun 2004
Posts: 802

PostPosted: Mon Nov 05, 2012 8:58 pm    Post subject: Reply with quote

Seems unreal that the sp would actually drop on a news release like that.
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Bobwins



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

PostPosted: Thu Nov 15, 2012 12:34 pm    Post subject: pipeline down, MMT.v drops .14 to C$1.53 Reply with quote

retracing gains from the last couple of months. No production in November so far as flooding is hampering even getting into the area so they can inspect the pipeline for damage. Probably going to lose the month of November.

Oil is still there but AGIP pipeline is the only way out for Mart. This only reinforces the need for the second pipeline.
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Bobwins



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PostPosted: Fri Dec 28, 2012 11:30 am    Post subject: Umusadege field back online Reply with quote

Mart finally got access to the AGIP export pipeline last week. Should be back to full production(pipeline constrained) by the New Year.

Yesterday Sprott manager made Mart his top pick on BNN. +.14 yesterday and +.04 today.
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Bobwins



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PostPosted: Wed Jan 09, 2013 11:34 am    Post subject: MMT.v +.09 to C$1.84 Reply with quote

Testing one zone at 1943bpd doesn't seem like a big deal but for Mart this is big. This is the deepest of 4 new zones that have never been tested or produced by Mart. If all 4 zones prove productive AND if they run under the Umusadege field, this could mean a huge add to reserves for Mart.

That was one of the primary goals of this UM-10 well. It will take time to prove the theory because several of the previous producing wells were not drilled deep enough to confirm or deny the existence of these zones.

The other important aspect is the extremely high API of the test oil. 55 API would command a high premium in the market, especially with all the heavy oil that is produced in the Middle East.

Of course, somewhat offsetting this very positive event is the continued delays in getting signatures on the Shell Export pipeline deal. Apparently Shell is selling the pipeline and until there is a new owner, Mart can't get a signature. The pipe for the 54km pipeline is in the country and Mart may begin construction without a confirmed deal. They want to get the pipeline done as soon as possible because they could have as much as 30,000bpd behind pipe by late this year. They want to produce this as soon as possible because they have a tax holiday that expires at year end.

Mart still has a lot of growth ahead of it. This still has multibagger potential.





CALGARY, ALBERTA--(Marketwire - Jan 9, 2013) - 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 (together "the Co-venturers") are pleased to announce initial flow rate test results for the UMU-10 well and an update on Umusadege field production for the month of December 2012 and the first week of January 2013.
UMU-10 Well Test Results
As previously announced, the UMU-10 well encountered 479 feet of gross hydrocarbon pay in 20 sands. Six of these sands, XVIIa & XVIIb (commingled), XVIIIa, XIX, XXb, and XXI, are to be perforated, tested, and completed for production. Any two of these zones can be produced simultaneously using dual string sliding sleeve completion technology. The sands completed in UMU-10 are expected to access 161 feet of the total 479 feet of gross pay in the well. Five of the UMU-10 sands (XVIIa & XVIIb (comingled) is treated as one completion interval) have now been perforated and completed. The first extended flow rate test has been conducted on the XXI sand, the deepest of the sands to be tested, at a stabilized rate of 1,943 bopd during initial well clean up.
During the test of the XXI sand, the well flowed 55.3 API gravity oil through 3 1/2 inch tubing on a 28/64 inch choke at a flowing tubing pressure of 1260 psi. Basic sediment and water (BS&W) was 5% with a gas/oil ratio of approximately 588 standard cubic feet per barrel.
Four UMU-10 well tests remain, including the individual testing of the XXb, XIX, XVIIIa, and the co-mingled testing of the XVIIa & XVIIb sands. All sands will be initially tested on restricted choke settings during clean up, as has been done for the XXI sand. Once all completed sands have finished the clean-up operations, each will undergo a multirate flow test on various choke sizes, which may include choke sizes greater than those used for the clean-up operations.
Further updates will be provided on these remaining targeted sands once testing has been completed and results are available.
December 2012 Production Update
As previously reported, there was no production from the Umusadege field in November 2012 through December 20, 2012 due to a shutdown of the export pipeline that started on October 30, 2012. Nigerian Agip Oil Company ("AGIP"), the pipeline operator, has advised that repairs to the export pipeline were completed, and production from the Umusadege field and other fields in the area (collectively the "Cluster") began on a test basis early on December 21, 2012. Production and deliveries into the export pipeline from the Cluster increased to normal levels by the end of December 2012 and have averaged 11,800 bopd during the period from January 1, 2013 to January 8, 2013.
Total crude oil deliveries into the export pipeline from the Umusadege field for December 2012 were approximately 92,000 bbls before pipeline losses. Pipeline and export facility losses for November 2012 as reported by the pipeline operator were 0 bbls, as the pipeline was down for all of November 2012. December 2012 pipeline and export facilities losses have not yet been reported by the pipeline operator. Pipeline and export facility losses as reported by the pipeline operator from the beginning of the year to end of November 2012 are approximately 13.6% of total crude deliveries during this eleven month period.
Wade Cherwayko, CEO of Mart Resources stated: "Mart and its partners are pleased and encouraged with the initial flow test results from the UMU-10 well, which demonstrate that the exceptional reservoir of the Umusadege field extends further than previously assigned. We are looking forward to receiving results from tests of the remaining perforated sands in the coming weeks. We are also happy to report normalized operations for the AGIP pipeline starting in January 2013."
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 relations specialists for all corporate updates and investor inquiries:
FronTier Consulting Ltd.
Mart toll free # 1-888-875-7485
Attn: Sam Grier or Timea Carlsen
Email: inquiries@martresources.com
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coach247



Joined: 08 Apr 2004
Posts: 6774
Location: Milton, Ontario

PostPosted: Fri Feb 01, 2013 3:37 pm    Post subject: Reply with quote

Mart is trading at all time highs this week on no news. However the update provided earlier in the month hinted at further upside in overall basin reserves and perhaps the company is getting closer to providing more disclosure on that. Or there may have been some positive comments published in an advisory letter. I still hold a position in two accounts on this stock.

cheers!
mike
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coach247



Joined: 08 Apr 2004
Posts: 6774
Location: Milton, Ontario

PostPosted: Wed Feb 13, 2013 2:08 pm    Post subject: Reply with quote

Very interesting market action today. A cross of 1.8 million shares traded early in the day and that alone is a significant volume item. However the cross went through at the high of the day @ $2.08 representing an all-time high for MMT. Most of the time when a large cross is arranged a stock is walked lower to the agreed price. I cannot recall another example where a cross went down at a new all-time high. Someone wanted to acquire a block of shares in this one and was willing to pay a premium to get it.

cheers!
mike
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Bobwins



Joined: 05 Feb 2007
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Location: Seattle, Wa

PostPosted: Fri Feb 15, 2013 2:57 pm    Post subject: Mart interview 45,000bpd coming? Reply with quote

Stockhouse poster Just for Fun found this interview with Wade. Biggest item is that this interview is recent and he is still talking about 45,000bpd production and mid 2013 completion of connecting pipeline to Shell export line. I don't see how they are going to get that much pipe laid by mid year. I'm guessing they will actually flow oil very late in 2013, at best. They haven't even completed UMU-10 after months. BUT IF they can get the pipeline done in 2013, it will be very good for Mart for several reasons. They will have a lever on AGIP and cram as much revs as possible into 2013 while they still have a tax holiday AND total revs will scream upwards as they move from 7500bpd to 22 or even 30,000bpd, depending on drill results.



Tell us about the background of Mart Resources and milestones
I founded the company almost 20 ago. We have operations in many different countries, but the focus of the company for the last five or six years has been Nigeria. I have been in Nigeria for many years and have long been working with Nigerian indigenous companies, being one of the first foreigners to do so; helping them to secure financing and to find technical partners.
What is it like the company nowadays? What has it evolved into?

Because I have been here in Nigeria for a long time, I would say that we had first player advantage when the marginal field program came about, in 2003. This plan from the government aimed to allocate proven fields that were underdeveloped – and own by the major oil companies - to indigenous companies. The problem of these fields is that they were too small for the big oil companies, and the benefit for us was that, thanks to our experience on the ground and knowledge of the local environment, we were able to form partnerships with strategic local companies, and we followed what we considered better assets.

We have been working with our partner, MidWestern Oil & Gas Company Limited and SunTrust Oil Company Limited -, and which are currently running our major operating field. As a company, we are basically a Risk service provider to MidWestern and SunTrust, and the field is currently producing 12,500 barrels a day. This field is by far the best performing one of all marginal fields allocated by the Federal Government in 2003.

Our daily production of 12,500 barrels is not the production capacity of the field, the latter is much bigger than the former but there has been constraints and we are currently experiencing problems with our export pipeline. In order to solve that issue, we have come to an agreement with Shell so that we are building our own new pipeline, already in progress, and that pipeline will go into one of Shell that connects to the Forcados terminal; which will allow us to have a production capacity of around 45,000 barrels a day. We expect to have the pipeline operational by mid-2013, so from now until then we are going to drill a number of oil wells on the field so that when production is commissioned, we will be able to increase our production significantly. Likewise, we plan to do more development and exploration with the license, as well as look for new opportunities like buying some new assets where we see potential.

What are the growth prospects for the company for the next three to five years? Is there a plan already set?

We know that the government is going to allocate more of these fields, so we intend to continue to work closely with our existing partners Mid-Western and SunTrust, or maybe through other partnerships.

We are also looking to acquire assets which the International majors such as Shell, Conocco Phillips and the like may be divestment from.

What is your competitive advantage as a company within the Oil & Gas industry in this country?

I think it is that we have been on the ground for a long time, we respect the rights of the people and we are big supporters of the Local Content Act. Likewise, we have formed partnerships with strategic Nigerian companies, as MidWestern as I mentioned earlier. Therefore, working with local partners and local service providers gives us a competitive edge.

The Local Content Act was enacted in 2010, for you as a company partnering with indigenous Nigerian companies, have you already seen any benefits?

We have been very supportive of indigenous companies and partnering with them even before the Local Content Act was enacted . We have never operated in this country just as foreigners, but we have always partnered with local companies, because we know the way around and it’s also a huge benefit to the industry as it helps to streamline the industry by utilizing more local content, it makes work force from a foreign perspective more stable

Nigeria is the biggest oil producer in Africa, it has 3% of world´s reserves, but fuel shortages are still very common in this country. What should be done to tackle that issue?

Either the government or the private sector will have to put more refining capacity in place, as well as rebuilding the existing refineries. And in fact, the government is already taking the right steps to help develop more local refining capacity.

Nigeria has the highest gas reserves in the whole continent, but gas production is not very developed yet. Is Mart Resources considering venturing into the gas sector in the coming years?

We are not interested in gas as an only asset, but we are more interested in gas associated with oil development. We will only build gas fire power plants, so that our gas is only utilized in fire or generation, and we give power generated back to communities where we operate into their local grid. So we look at it only in association to oil development. But our primary focus will be still more oil than gas.

There is a lot of talk into the diversification of the Nigerian economy to non-oil related activities. If you had to suggest a foreign investor coming to Nigeria where to invest, apart from the oil & gas sector, which sectors would you highlight?

I think this country needs more infrastructure projects, so that would be a good area to explore and invest; office buildings, housing, ports… all sort of logistics projects offer good opportunities. The population in this country is so immense that we need to have more modern infrastructure.

How important is diversification in order to achieve the government Vision 20:2020?

I think that is a good plan from the government, and you need to diversify in order to achieve it. The country is extremely reliant on the oil industry, and in order to grow the economy there has to be more wealth distribution and better infrastructure.

Foreign investors may be concerned because they have heard that this country has a lot to do in order to achieve more transparency, accountability or good governance. What would you tell those foreign investors to convince them that those challenges can be overcome and Nigeria is the country where to invest in Africa?

Foreign investors just need to look at the number of local as well as foreign companies that operate in Nigeria and that are making good amount of money. Even ourselves, as a Canadian company, we are generating significant cash-flow in Nigeria. Therefore, people just have to look at the success stories, and avoid focusing on the negative side that they hear about Nigeria. This country has changed a lot in the last few years, and there are new entrants, especially within the oil industry thanks to the divestments that the big players have done, that are coming here because they have realised this is a place which offers good returns on investment.

How could a foreign investor coming into the oil industry benefit by partnering with Mart Resources?

It makes a lot of sense to partner with people that are already on the ground and understand the local environment, and that know how to work with local communities. Therefore, it is much easier for investors to come here and invest with a local player instead of doing it on their own especially taking into account how competitive it is getting here now, you need to work with someone that has a strategic advantage on the ground and understands the local terrain, and we are one of such companies as far as Nigerian Energy sector is concerned.

You have comprehensive experience of more than twenty years in this sector, across the North and West of Africa, Canada or South America. If you look back in time, which legacy do you think you are leaving behind?

What we are most proud of is that we have really helped to develop local content, so we have contributed immensely by way oftransfer of technology and hands on experience from an independent oil & gas standpoint; and the reason why it was achievable in Nigeria was Nigeria dominated by the major players, there were no independent or strong indigenous oil companies when we started out here. Then, we have brought experience from overseas into Nigeria; we have been innovative and technology-driven, as well as providing fit-for-purpose equipment. Likewise, people now know how to finance these projects thanks to us. So I think we have brought a lot of interesting ideas that have benefited indigenous oil & gas companies.

View Mart Resources OBP


Read more at http://www.stockhouse.com/bull.....VM4MT93.99
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Bobwins



Joined: 05 Feb 2007
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PostPosted: Tue Feb 19, 2013 2:07 pm    Post subject: new 52wkhi! 2.25 Reply with quote

intraday hi of 2.31 but currently +.13 to C$2.25 1.66Million traded

Not sure what is driving Mart but institutional money must have decided Mart is going to get their second pipeline deal done and all that behind pipe production is coming!

I saw some quotes on Stockhouse that Oando is saying they started the pipeline in January and they are a participant along with Mart and it's JV partners. The optimistic speech by Mart CEO MUST have some real world basis in fact or why would he expose himself like that. I will be thrilled if the pipeline is done and functioning by end of Q3.

Once we get the second pipeline, the drill results will mean something. Right now, they can test UMU-10 all they want, it won't increase revs. Need that pipeline! Bring it on! and be sure to protect it with concrete!!!!
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langenburg



Joined: 12 Jan 2007
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PostPosted: Fri Apr 05, 2013 12:47 pm    Post subject: bounce back Reply with quote

I was tempted to buy more a few days ago around $1.50 but I talked myself out of it. These pipeline disruptions strike fear but the dividend doesn't appear to be in jeopardy at least
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