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Mart Resources Inc mmt.v C$.17
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Bobwins



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

PostPosted: Wed Aug 01, 2012 10:12 am    Post subject: New 52wkhi for Mart Reply with quote

Yesterday and today, Mart has been running. +.11 to C$1.68

Don't know why although they got mentioned on BNN twice in the last week. First as a new pick by Ryan Irvine and then reviewed as a past pick a couple of days ago.

UM-10 should reach total depth in August and report sometime in September.

Maybe there's a leak and Shell is ready to completely signoff on the second pipeline so they can begin construction.
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Bobwins



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PostPosted: Sun Jul 29, 2012 2:34 pm    Post subject: nothing wrong with taking some off the table Reply with quote

The future for Mart is bright but not clear and steady.

They will be drilling UM-10 to prove that Umusadege is much bigger and has many more productive zones. This will increase reserves but not affect cashflow until they can put UM-10 online. That won't happen until they get a second pipeline. The second pipeline will be buried so the risk of pilferage will be much lower. They way things work in Nigeria, I am assuming that the pipeline won't actually be in operation for 12-18months. That is a long time for the financials to stay flat/decline. Based on the cost sharing formula, if Mart doesn't drill much, their share of the produced oil will fall to the 50% level instead of the high 82% level of Q1. This will cause revs to tend towards the downside during the wait for the second pipeline.

So holding Mart for the next 2 years has big risks. Offsetting some of the risk is the .05 qtrly dividend but there is always the risk of the AGIP pipeline going down.

On the upside, Mart is still undervalued by financial ratios, fwd p/e is low and the dividend yield is high. That could cause bigger players to come in and move the price up to C$2+ just based on yield.

UM-10 will give us a little excitement and give us a clearer picture of the Umusadege field and it's potential true size.
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coach247



Joined: 08 Apr 2004
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Location: Milton, Ontario

PostPosted: Sun Jul 29, 2012 1:01 am    Post subject: Reply with quote

The quarterly dividend thereafter is still pretty attractive at 5 cents a quarter. You can buy a lot of MMT for the same unit of investment to buy a more senior stock that pays a lower dividend. The big risk for me is the country risk and the potential for nasty surprises in pipeline disruptions. I think that is balanced by the huge upside and low cost profile for the company. I took some profits and have decided to hold a small core position for the yield, but I will buy on a dip too if I get the chance.

cheers!
mike
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Bobwins



Joined: 05 Feb 2007
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Location: Seattle, Wa

PostPosted: Wed Jul 18, 2012 5:13 pm    Post subject: today is exdiv day for MMT.v Reply with quote

Dividend of .10 will be paid 8/8. Will be interesting to track share price and see how much it drops. I think there will be a sizeable drop, probably exceeding the .10 dividend amount. Lots of nervous buyers in the markets nowadays and so there will be a temptation to sell and take the dividend.

The runup in share price from around a buck to the current 1.50 is a tempting short term profit for new holders.
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Bobwins



Joined: 05 Feb 2007
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PostPosted: Fri Jul 13, 2012 1:00 pm    Post subject: mart started by Cormack as a buy w/2.50 target Reply with quote

http://dashboard.cormark.com/s.....ormark.com
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Bobwins



Joined: 05 Feb 2007
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PostPosted: Wed Jul 11, 2012 1:20 pm    Post subject: AGM webcast Reply with quote

Very good info for anyone interested in Mart. Lots of questions answered by CEO Wade.

http://webcasts.welcome2thesho.....ources2012
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Bobwins



Joined: 05 Feb 2007
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Location: Seattle, Wa

PostPosted: Sat Jun 30, 2012 2:42 pm    Post subject: selling? holding? Reply with quote

This is my biggest holding. Here are the remaining catalysts and their approximate timing.

1. actual payment of dividend of .10 will cause price movement. Typically the special is the biggest so it will cause some short termers to exit immediately after payment. So there likely will be a dip after 7/8.

Each successive payment of .05 should cause less of a change in share price as short termers may not be motivated by .05 to buy and then sell.

2. UMU-10 will spud next week. Why is that important? UMU-10 will prove up several new zones that are deeper than any currently producing. They have never been considered in any of Mart's oil reserves. They should dramatically increase the reserves for Mart and could be present in their other wells but the other wells were drilled to a shallower depth. Given the low decline rate of Mart current wells, which indicate a big field, these new zones could come close to doubling oil reserves at the Umusadege field. From a production standpoint, UMU-10 is less important. They can't realistically produce it with the current pipeline setup so they are spending $8-10million for a well that won't produce for 1-2years.

3. getting final agreement with Shell on crude purchases so they can proceed with the pipeline construction of a 54km pipeline that will connect Umusadege to Shell's export pipeline. Company thinks it will take about a year to build but this is Nigeria. Everything takes longer than planned.

4. Mart Q1 had 55 million in cashflow or .16/share. that could improve based on company statements that their share of the AGIP pipeline could reach 15,000bpd for the total field. The field produced about 8400bpd in Q1. Mart gets their drilling costs back first and then 50%. Q1 they got 82.5% of total revs because of recent drilling. Over the next year, Mart could see total revs climb to almost double Q1 but oil prices have fallen $20/barrel so that will cancel out some of the gains. The field can produce more but they have to increase pressure slowly to gain export volume in the pipeline. Should see increases this year minus downtime for pipeline maintenance and theft. If they don't drill more wells, they will recover costs and their share will drop back to 50%.

5. Company is trying to get more marginal fields awarded to them. This is a wildcard because you won't know exactly what they've got until they drill. Might involve different local partners. Unlikely the next field will be as good as Umusadege.
So whether you take money off the table depends on your timeframe. I think investors will gradually warm up to Mart based on the dividend. The more they look at the numbers, the more they are going to be amazed at the undervaluation. BUT more drilling will not result in more production/cashflow until the second pipeline is built. So there could be a plateau forming after the next couple of qtrs.

Also oil prices are a worry. CEO said he tested their ability to pay a dividend down to $70 but if oil prices slide towards that number, Mart may forgo one or more of the qtrly payments. New investors here for the dividend would likely leave.

Always safe to take some off the table. I have held this for years so at this point, I am going to hold. I sold some a few weeks ago to buy other stocks that I was really high on so I have already lowered my position some.

Good luck. Always tough to predict stock price movements. So much depends on the price of crude and the condition of the global economy. That aspect alone might be reason to take some profits.
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langenburg



Joined: 12 Jan 2007
Posts: 25

PostPosted: Fri Jun 29, 2012 5:21 pm    Post subject: Vey nice Reply with quote

Hey Bobwins. I'm tempted to sell a bit here. What is your thinking after this very nice appreciation move.
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Bobwins



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PostPosted: Thu Jun 28, 2012 5:46 pm    Post subject: huge pop! Mmt.v +.29 to C$1.34 Reply with quote

long rumored dividend finally declared. .10 special and .05/qtr after that. Even at 1.34, you'll get .15 in 2012 and .20 in 2013 for a nice double digit yield.



CALGARY, ALBERTA--(Marketwire -06/28/12)- Mart Resources, Inc. (MMT.V) ("Mart" or the "Company") is pleased to announce the declaration of a dividend of $0.10 per common share payable on August 8, 2012 to shareholders of record at the close of business on July 23, 2012.
Mart's Board of Directors has also adopted a dividend policy reflecting its intention to pay quarterly dividends of $0.05 per common share commencing in September 2012. The payments of dividends in the future are dependent on Mart's cash flows, capital expenditure budgets, earnings, financial condition and other factors as the Board of Directors may consider appropriate from time to time.
Wade Cherwayko, CEO of Mart commented: "The declaration by Mart of its first dividend to shareholders is a very important milestone for the Company and reflects our positive view of the sustainability of cash flow from Mart's Nigerian operations."
For more information, please contact Wade Cherwayko at Mart's London, England office # +44 207 351 7937 or e-mail: Wade@martresources.com; or Investor Relations at toll free 1-888-875-7485. 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.
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Bobwins



Joined: 05 Feb 2007
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Location: Seattle, Wa

PostPosted: Thu Apr 26, 2012 3:03 pm    Post subject: new presentation Reply with quote

http://www.martresources.com/w.....240412.pdf

Very positive outlook. Negotiating with Shell to hookup with their existing export pipeline. New reserve report due in May 2012. New zones discovered during UM-9 drilling. UM-10 will spud soon and test those zones. Could dramatically increase reserves. Bidding on additional marginal fields in Nigeria. All bank debt paid off. Selling for about 2X fwd cashflow. Cash building.
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Bobwins



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Posts: 1227
Location: Seattle, Wa

PostPosted: Tue Apr 03, 2012 11:08 am    Post subject: MMT.v +.07 to C$1.10 Reply with quote

Mart released the rest of their test results.

http://finance.yahoo.com/news/.....21426.html

5 sands out of 19 tested with total production of 11,718bpd. UM-9 has a dual-tubing string that can allow multiple zones to produce simultaneously. Here is an explanation from the UM-7 test PR.


The UMU-7 well has been completed using a dual-tubing string configuration with the XVI (a) and XIV sands completed in the 3 1/2 inch tubing string and the XII(c) and X sands completed in the 2 7/8 inch tubing string. As a result of the completion technology used, although the four sands that have been completed can be opened and closed at any time to allow for optimized production, it is only feasible to produce one sand per tubing string due to different pressures within the formations.


Overall this is very good news for Mart. The reservoir is much bigger than originally envisioned. The company has had minimal depletion in production capacity from the existing wells. Some have been running for 6 years. This would indicate that the reservoir is very large. Mart keeps drilling further away and keeps hitting. UM-9 was 2KM away from the nearest well and still tested over 11Kbpd! They definitely need a second pipeline to carry away the field production. There is a reason that the company is expanding their field processing facility to 30,000bpd with plans to expand further!


Even if they don't expand their pipeline capacity, Mart can produce at current levels for many years by going back into the existing wells and producing from different zones. UM-7 tested 11,718 from 5 out of 19 zones that showed hydrocarbons. Many of the previous wells are similar. Also UM-9 hit deeper zones that may be under the existing wells but the previous wells weren't drilled that deep.
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Bobwins



Joined: 05 Feb 2007
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PostPosted: Thu Mar 15, 2012 11:23 am    Post subject: MMT.v +.09 to C$1.02 Reply with quote

Mart shows first test results. This is from 19 zones originally reported. They won't test all 19 zones but this well extends the width of the reservoir. Expect total test results well over 10,000bpd in all tested zones, like the other wells in the play.




Mart Resources, Inc.: UMU-9 Well Update- Initial Flow Test Results
- 4,240 barrels of oil per day ("bopd") stabilized flow rate achieved from the XIV sand - Four more zones perforated and completed in UMU-9 still to be tested


Press Release: Mart Resources, Inc. 2 hours 3 minutes ago

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Mart Resources Inc.
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MMT.V 1.02 +0.09

CALGARY, ALBERTA--(Marketwire - March 15, 2012) - Mart Resources, Inc. (TSX VENTURE:MMT.V - News) ("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 the initial flow rate test results for the UMU-9 well and an update on February 2012 Umusadege field production.
UMU-9 Well Test Results
As previously announced, the UMU-9 well encountered gross hydrocarbon pay of 430 feet from nineteen oil sands and one gas sand. Five of the UMU-9 sands have now been perforated and completed. The first extended flow test has been conducted on the 46-foot thick XIV sand at a stabilized rate of 4,240 bopd.
During the test of the XIV sand, the well flowed 43.3 API gravity oil through 3 1/2 inch tubing on a 32/64 inch choke at a flowing tubing pressure of 480 psi. Basic sediment and water (BS&W) was 0.2 % with a gas/oil ratio of approximately 90 standard cubic feet per barrel.
Three UMU-9 well tests remain including the co-mingled testing of the XIIIa and XIIIb sands via the 3 1/2 inch tubing, followed by individual testing of the XIIa and X sands via the 2 7/8 inch tubing.
Further updates will be provided on these remaining targeted sands once testing has been completed and results are available.
February 2012 Production Update
Umusadege field production based on producing days during the month of February averaged 11,229 bopd. Umusadege field downtime during the month was approximately 6.5 days, primarily due to technical problems at third party export pipeline facilities. The average oil delivered to export storage tanks averaged 8,728 bopd.
Wade Cherwayko, CEO of Mart Resources stated: "Mart and its partners are pleased and encouraged with the initial flow test results from the UMU-9 well which demonstrate that the exceptional reservoir and oil quality of the Umusadege field extend further than the area previously assigned, and we are looking forward to receiving results from testing the remaining perforated sands in the coming weeks."
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 or Caleb Gilani
Email: inquiries@martresources.com
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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coach247



Joined: 08 Apr 2004
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Location: Milton, Ontario

PostPosted: Wed Mar 07, 2012 1:18 pm    Post subject: Reply with quote

I spoke with Chen Lin on Sunday at the PDAC. He says he personally knows the shareholders that control about half of the float for this stock, and they are expecting a dividend announcement sometime in the near future. The cash flow numbers in the next quarterly financial report are expected to be very good, such that the company could afford to make an announcement of a dividend. That alone would be the kind of catalyst to move this stock higher.

I have heard numbers suggesting anywhere from 20 cents to 50 cents per share in cash flow. I have not crunched the numbers myself to get an idea of how realistic this is, and what other expenses may be acrued during the quarter, but if we get anything even close to that outlook then a decent dividend could be supported.

I own a bunch of this one, and have also flipped some shares I bought at 84 cents and then sold at $1 last week.

cheers!
mike
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Bobwins



Joined: 05 Feb 2007
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Location: Seattle, Wa

PostPosted: Tue Feb 28, 2012 2:27 pm    Post subject: mmt.v +.05 to C$.96 Reply with quote

Mart making another run at C$1. No news so must be rumors or inside leaks or somebody getting a little tip. Let's hope it's more substantial and they release a good PR.

Pipeline news would be most welcome as that is the Achilles heel of Mart. They are great at finding the oil but getting it to the market has proven tougher. All these new wells won't do any good if they can't reliably transport the oil to the coast and the tankers.
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Bobwins



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PostPosted: Wed Feb 15, 2012 10:42 am    Post subject: Update on UM-9 Reply with quote

most important result is the expansion of the field to the east. Next well will explore the 5 new zones found in UM-9. Note the big expansion to the production facility. Can't wait to see the test results from the 5 proven zones. Should result in another oil well producing about 3 to 5,000bpd.


CALGARY, ALBERTA--(Marketwire - Feb. 15, 2012) - 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 an operational update on the Umusadege field, onshore Nigeria.
Open Hole Logs and Fluid Sample Analysis of UMU-9 Well
As previously announced, the UMU-9 well encountered cumulative gross hydrocarbon pay of approximately 430 feet from nineteen oil sands and one gas sand identified in the well. The intermediate hole section of the UMU-9 well drilled to 8,311 feet identified 260 feet of gross oil pay from eleven sands based on open hole logs. The lower 8 1/2 inch deviated section of the well drilled from 8,311 feet to 10,848 feet identified 170 feet of gross oil pay in eight sands and also identified one gas sand. The bottom-hole location of this deviated well extends to a subsurface location approximately one kilometer east of the UMU-6, 7 and 8 production well locations and confirms geological interpretation of an eastern extension of the field.
Of the nine sands identified in the deviated section of the UMU-9 well, three oil bearing sands (XVIa, XVIb, XVIIa) had been encountered in previous Umusadege wells and six new sands have been discovered. Detailed fluid analysis was conducted on five out of the six new sands, and lab analysis has confirmed that four sands (XVIIb, XVIIIa XIX, XXb) contain light oil and condensate and one sand (XVIIIb) contains gas condensate. The remaining four sands did not have fluid analysis conducted, however open hole logs indicated the presence of hydrocarbons.
The UMU-9 well is the first well drilled on the eastern extension of the Umusadege field. No proved reserves were assigned to the eastern extension in the independent reserves evaluation report prepared by RPS Energy Canada Ltd. ("RPS Energy") dated December 31, 2010 (the "2010 RPS Report"). The 2010 RPS Report assigned probable reserves to five of the twenty sands identified in the UMU-9 well (the VII, VIII, IX, XIIa, and XIIb sands). Possible reserves were assigned to sands IIId, IV, and V. The December 31, 2011 year-end reserves evaluation report currently being prepared by RPS Energy (the "2011 RPS Report") will include an evaluation of the vertical section of the UMU-9 well discoveries down to the XIV sand only, as drilling and evaluation of the deviated section was still ongoing as at December 31, 2011. Once the full well test data, lab results and analyses of the deviated section of the well are available, Mart will request RPS Energy prepare an update to the 2011 RPS Report which will include an evaluation of the deeper sand discoveries.
UMU-9 Completion and Flow Testing Update
Five sands (the XIV, XIIIb, XIIIa, XIIa and the X sands) in the 9 5/8 inch casing in the UMU-9 well have been perforated. Installation of completion and flow testing equipment in a dual tubing string (3 1/2 inch and 2 7/8 inch) configuration is in the final stages. The 3 1/2 inch tubing will have the XIV, XIIIb and XIIIa sands completed. The XIIIb and XIIIa sands are being co-mingled to optimize production. The 2 7/8 inch tubing will have the XIIa and the X sands completed allowing for future multi-zone production. After the completion equipment is installed, flow testing of the sands will be conducted. Co-mingling of sands is being considered for future development wells to optimize production from the multiple oil bearing zones.
UMU-10 Development Drilling
After flow testing operations are completed on the UMU-9 well, Rig 201 will move to the UMU-10 slot on the current drilling pad and drilling activities will commence. It is anticipated that the UMU-10 well will spud before the end of Q1 2012. The primary objectives of the UMU-10 well will be the oil-bearing sands identified in the 8 1/2 inch deviated hole section of the UMU-9 well. The results from the UMU-9 well logs and fluid samples confirmed the presence of oil-bearing sands that justify additional development drilling. There are additional future drilling locations on the eastern extension. The presence of hydrocarbons on the eastern extension of the Umusadege field increases the probability of success for a separate seismically defined undrilled structure located further east on the Umusadege license area.
Production Facilities and Export Pipeline
The current capacity of the Umusadege early production processing facility is approximately 20,000 bopd. Installation of storage tanks with aggregate capacity of 30,000 barrels has been completed. An upgrade of the central production facility at the Umusadege field is approximately 75% completed. Upon completion of the upgrading, management estimates that the permanent central processing facility will have capacity of 35,000 bopd. The upgrading not only increases processing capacity, but also replaces rental storage equipment with permanent equipment that will decrease operating costs per barrel. The central processing facility is capable of further future expansion, if required. In light of the UMU-9 discovery, an additional expansion of the permanent central production facility is being considered.
As previously disclosed, to mitigate risks relating to export pipeline capacity, Mart and its co-venturers are evaluating new export pipeline options to provide an alternative for existing and future production capacity. Mart and its co-venturers are currently in discussions with an affiliate of Royal Dutch Shell plc, to provide another independent export pipeline for Umusadege field production. If these discussions result in Mart and its co-venturers gaining access to Shell's export facilities, a new 50 kilometer pipeline will be constructed.
Wade Cherwayko, CEO of Mart added " Mart and its partners are delighted with the progress made in the development of the Umusadege field. The UMU-9 well has demonstrated the significant upside potential of the field, in particular the extension to the east, and we are looking forward to additional increases in reserves and production in 2012."
For more information, please contact Wade Cherwayko at Mart's London, England office # +44 207 351 7937 or e-mail: Wade@martresources.com; or Investor Relations at toll free 1-888-875-7485. 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
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