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jerpy

MART RESOURCES INC - MMT:TSX-V

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Mart has again shown strength on the back of a sell off following Wade doing the rounds and the publication of a new corporate presentation out last week.

 

Expectation of 2nd pipeline deal "soon" (please get a move on :lol: ), Umu field just gets better, cash position is fantastic and .... possibly involvement in more marginal fields!

 

http://www.martresources.com/wp-content/uploads/2012/04/Developing-Nigerian-Assets_240412.pdf

 

Interesting chatter elsewhere is the mooted possibility of a LSE Main listing later in the year, now that would be nice.

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Broke to new highs of c$1.16/1.17 few days back on year end news, settled back now so a good time to put this up, which gives fair overview of the figures and where Mart is at from the man himself.

 

Interview with Wade @ HiAlpha(thanks to poster on S.H) around 5mins.

 

http://www.youtube.com/watch?v=m-HuPCelv-Y

 

Plenty more to come by the look, long run optimistic again :D

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Just another month passes by, just another qtr of barrel loads of earnings and the comparison to m/cap is on target to get even more ridiculous at this rate <_<

 

First we have April's op update of an average 12,206 barrels of oil per day and news of UMU 10 spud due in June.

 

Then a few days later we get news of increased production revenue, a better tax position than envisaged and ouddles of cash in the pipeline going forward.

 

But don't take my word for it, just read the management reports on website.

 

Absolutely convinced if this wasn't just a one country (Nigeria :rolleyes: ) resource play, we would be soaring on this cash positon to market cap oil producer of some $300m, give or take the general market sentiment.

 

As it is back trading around the $1+ mark for this week.

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WOW!! What a day shares close at 1.34 up0.29 (+27.62%) on 8,585,952 traded volume and highest number of trades for the day on the TSX:V

 

And forever known as DIVIDEND DAY :lol:

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Just to put some meat on the months events.

 

June 14th We had improved field production, UMU 10 expected and news Wade was going on tour ;)

 

June 21st Outlined the much awaited Shell Pipeline plans(sometime next year finges x'd) that should de-risk the reliance on AGIP and some of the shenanigans of lost oil(note: this one encased in cement according to AGM news)

 

June 27th saw an increase in Umusadege 1P,2P and 3P fiures by 20 odd %, let alone the profit implications spelt out from this and the tax saving!

 

Still no movement! Until

 

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."

 

 

You betcha Wade, no wonder everyone thinks he's an hero at the AGM

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Highest close at Cn$1.36c (having touched Cn$1.46c) Nice :)

 

Website has AGM presentation link up http://www.martresources.com/wp-content/uploads/2012/06/Mart-Resources-AGM-Presentation_28Jun12.pdf

 

Just look at the structure of hits, the reserves and cash graph, besides all the noise for future plans at the AGM.

 

Despite all the ups and downs nobody here can say buy and hold this lottery ticket don't pay :rolleyes::D

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Mart staying hot closed yesterday at cn$1.50c (touched 1.55) on decent volume - fresh highs B)

 

Latest news since last post, UMU 10 at started 4th July at a depth of 854ft on the way to 9700ft. Eventual aim to test 5 oil and 1 gas/condensate sands found in the deeps of UMU 9.

 

Be great if the deep stuff comes in.

 

One confirmed reader of this thread elsewhere, so I know ploughing my lonely furrow gets noticed :)

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Mart staying hot closed yesterday at cn$1.50c (touched 1.55) on decent volume - fresh highs B)

 

Latest news since last post, UMU 10 at started 4th July at a depth of 854ft on the way to 9700ft. Eventual aim to test 5 oil and 1 gas/condensate sands found in the deeps of UMU 9.

 

Be great if the deep stuff comes in.

 

One confirmed reader of this thread elsewhere, so I know ploughing my lonely furrow gets noticed :)

 

Hiya

 

Do keep an eye on this one> Noting the gains wish Id joined in, still cant join or win them all!

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Hiya

 

Do keep an eye on this one> Noting the gains wish Id joined in, still cant join or win them all!

 

Can't think of any other junior oilers that are going to pay the equivalent of a 30c divvy in the next 12 months. Thats without any further drill success.

 

Sorry bit rampish that one, but this is an incredible ride now :)

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Mart has steadily building a new trading base on reaching highs of 1.73c lately and had seen a fair few trading sessions showing over a million plus trades, although volume dropped a bit towards the end of last week.

 

Maybe news of MMT's inclusion in the S&P/TSX Venture 30 Index will help underpin this base short term? Then fingers crossed UMU 10 should be very near

 

Currently Cn$1.64c :)

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Mart has steadily building a new trading base on reaching highs of 1.73c lately and had seen a fair few trading sessions showing over a million plus trades, although volume dropped a bit towards the end of last week.

 

Maybe news of MMT's inclusion in the S&P/TSX Venture 30 Index will help underpin this base short term? Then fingers crossed UMU 10 should be very near

 

Currently Cn$1.64c :)

 

Yup, looking very nice at the moment. Nice divi, nice rise. Glad I got in around $1. Though I imagine that's a lot higher than your initial buy!

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Yup, looking very nice at the moment. Nice divi, nice rise. Glad I got in around $1. Though I imagine that's a lot higher than your initial buy!

 

Nice to have company here too :) New base forming well, little more volume for comfort would be welcome, however toaday we close Cn$1.74!

 

My initial buys are all around 30 baggers, so can't grumble :lol: MART is simply one of those stellar picks that make you.

 

Incidentally, on the Dividend have some with T.D and Cannacord that came through ok, Selftrade a little behind, but poor show from H.L still waiting :angry:

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Hmm 2nd qtr "lowlights" now out

 

Including 18% loss of oil, bit of bunkering there, low recovery rates etc. Typical Nigerian stuff then eh.

 

The rollercoaster is back, shares got hammered to 1.40 levels, no doubt wiping out a few traders and stop losses. Bit of a wait for UMU 10 news to hopefully propel these back up.

 

The one positive was the quarterly dividend was confirmed. The cash position also improved a little further.

 

Seems the AGIP pipeline "problem" was somewhat in-play, they perhaps might want to think on why the 2nd pipeline with Shell is being sought.

 

Full details on website.

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The rollercoaster is back, shares got hammered to 1.40 levels, no doubt wiping out a few traders and stop losses. Bit of a wait for UMU 10 news to hopefully propel these back up.

 

 

Amazing eh, move on a couple of months and we hit a high of 1.83c Thursday on decent volume and manage to close out the week at 1.82c again on decent volume.

 

What's changed.....apart from Riggers changing a couple of brokers? :lol: Incidentally anyone who uses Selftrade, should be wary they apply a 25% U.S tax dividend to Canadian stocks! Why? Because they are too lazy to change to the 15% Canadian deduction :ph34r: VOTE WITH YOUR FEET!

 

New C.F.O and operational update for Aug/Sept to calm the waters, but suspect volume building again for a reason. Wade on a P.R move here and there too.

 

Calmly await the next twist B)

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Now we are settling down, time to mention 5th Nov N.R.

 

 

UMU 10 t.d reached and a brief spike to cn$1.90. Ho hum, just another 479 feet of gross pay in 20 sands :)

 

http://www.martresou...ate-11-5-12.pdf

 

Roll on Shell pipeline please.

 

EDIT: For what it's worth, Stonecap Securities "issued a one year price target of $2.50 on Mart Resources, which if achieved, would provide an "attractive 47.5% total return, including an 11% dividend yield............with an "outperform rating" and calling it one of the highest dividend paying stocks among the junior oil and gas companies".

 

 

http://www.proactiveinvestors.com/companies/news/36866/stonecap-securities-calls-mart-resources-one-of-the-highest-dividend-paying-stocks-in-junior-oil-and-gas-industry-36866.html

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The wild ride continues, Nov 15th Oct Production update comes out with news of Production disruption in November :( Just Great.

 

The little ray of sunshine was the snippet at the bottom nearing conclusion of negotiations with Shell on the 50KM pipeline..

 

http://www.martresources.com/wp-content/uploads/2012/11/MMT-PR-October_Operational_Update-111512-1.pdf

 

Shares plummet to the high 140's intraday, before settling to close at 1.50c on high volume (wheres the crying smiley :o )

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But wait 24 hours later, shares open at 1.45c and shares touch 1.73c before settling at 1.63c on decent volume :rolleyes:

 

Trade Mart at your peril :lol:

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So with the 3rd quarter results out, Wade is pressing the flesh at the World Oil Council gig. Guess along with sitting on a 50 minute panel titled "Shooting Pheasants or Hunting Elephants: Comparing the E&P Strategies of High-Potential O&G Cos" Ehh Pheasants ^_^

 

This no doubt sums up his thoughts for the 10 minute separate presentation prior to it.

 

http://www.youtube.com/watch?v=ej69k1GA3nI

 

Nothing too new other than Shell deal soooo close and Wade clearly intends focus on Nigeria, with other possible marginal fields. So accept the country risk and enjoy the ride.

 

For the record shares finished the week at 1.78c and I still :wub: this stock :lol:

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MArt rollercoaster dipped down again as shares went ex-divi on the19thdec, tax selling season, add the pipeline uncertainty leading a few of nervous disposition bailing out - when will they learn with Mart :o - shares touched 140c intraday Christmas eve, before settling at 1.47c.

 

But look then here comes Santa Wade with a late N.R, must ahve been stuck in the Christmas post :rolleyes: Ho,ho,ho

 

 

UMUSEDGE PIPELINE DISRUPTIONS RESOLVED AND PRODUCTION AND DELIVERIES FROM UMUSADEGE FIELD RESUMED ON 21st DEC

 

So with production beginning "on a test basis early on December 21, 2012" and Nov shipment of 320,000 barrels from Oct, along with AGIP lifting of the force majure at the export terminal, should see a nice bounce today on the Canadian market.

:)

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So with production beginning "on a test basis early on December 21, 2012" and Nov shipment of 320,000 barrels from Oct, along with AGIP lifting of the force majure at the export terminal, should see a nice bounce today on the Canadian market.

:)

 

That bounce took Mart back intp the low 1.70's treading water for news which came last week of the intial flow test on UMU 10

 

the deepest of the sands to be tested, at a stabilized rate of 1,943 bopd during initial well clean up.......the well flowed 55.3 API gravity oil......Four UMU-10 well tests remain,.......

 

 

Wade also confirme "normalized operations" on the AGIP pipeline at the start of January. Of course what we really need to underscore it all is that crude handling agreement signed with Shell.

 

Should add shares touched 1.91c intraday on Thursday, new highs again. Finished the week 1.85c :)

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Congrats Riggers. Never managed to get in early, question of funds and never having traded Canadian markets. Since then have looked in on occasion and wondered, never moved. On reflection the cash generation power of this firm has sufficient reason for the buying.

 

Still looks attractive but the region looks more unstable than ever, maybe that is telling me something!

 

Is it likely to pay more dividends in the future?

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.

 

Still looks attractive but the region looks more unstable than ever, maybe that is telling me something!

 

Is it likely to pay more dividends in the future?

 

Region as in Africa, Nigeria or just where Mart operates? Remember Mart worksin partnership with local indigenous operators, that's what set it aside from others that struggle in Nigeria and built it's success.

 

Purely my opinion, but one I've heard elsewhere, but yes at some point I'd expect as it throws off cash, the divvy may grow - though look for marginal field expansion, merger, main list, LSE list (groan - here come the rampers) and slightly longer term take-out?

 

Of course i'm biast and there is no escaping the risks, nor it's in Nigeria. That aside, bring on the $2 party :D

 

Shares touched cn$1.95 and fininished the week at cn$1.93c. :wub:

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No real news as such bar todays reaffirment of being one of the top 30 companies on the Venture(3rd year running).

Meantime this climb has been on decent volumes. Shares touched intraday high of $2.31 before closing up 14c (6.60%) at 2.26c

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Few snippets from recent interview with Wade doing the rounds

 

The Future....

 

"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".

 

Just copied the best bits.

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