MMT no doubt buoyed by the strong oil price and this article made another upswing on their little roller coaster, thought I would wait for market to be closed before pinning it.
MMT finished at $0.69c on strong volume (over 2.7million traded), the writer like myself clearly has bias, but it spells out the cheap nature of the shares. IF only for country risk
QUOTE
TER: What company is your favorite play in energy?
CL: My largest position in energy is Mart Resources Inc. (TSX.V:MMT). It's an exploration play, and they have already discovered oil. All they need to do is to pump the oil, and enjoy incredible cash flow. If you calculate cash flow using their recent drilling success, once they bring the next two wells into production, they'll still be trading at less than their current cash flow. They will easily do $300 million of cash flow, but their market cap is only about $200 million now. Their recent drilling results tested at over 14,000 barrels per day (bpd) over four zones. Right now they only produce from two zones. They are going to produce two more wells on the same pad; therefore, using their historical production data, they will be easily over 20,000 bpd. Next, they are going to do a pipeline, so they will have a 30,000 bpd capacity followed by another production increase.
So, just from the production and cash flow point of view, it's going to be very hard to find an energy stock trading at less than one times cash flow. There's an enormous amount of oil there, and it will come out in a few months when they drill the next two wells. When they get a new reserve report, the cat will be out of the bag. So, for right now, because it hasn't shown up in the financial or reserve reports yet, the stock hasn't really moved. That's why I like the stock; that's why I'm holding a lot of shares in my personal account.
Secondly, you can see from the company's existing wells how much of a decline they have had. Mart has had wells in production for two years, and there's no decline. This is very rare. If you drill in the Bakken in Canada, in three months it will dry up by more than half, right? In a year, it drops 80%–90%. But two years have passed, and Mart's well production is almost constant. In fact, recently production went up.............
The funny thing is that both of these companies—VAALCO and Mart—are financially independent, and they don't need to raise money from the market because they have so much cash flow. For Mart Resources, it is even more so. You're talking about cash flow that's more than the market cap. So, they don't need to raise money from the market, and they don't need to go to a Canadian broker to raise money. That's why there's very little analyst coverage on these companies. Brokers usually cover the companies for which they raise money
http://www.theenergyreport.com/pub/na/8799
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Now 22c, quite a retrace. 
Careful LDB 
or should that be 
