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How sweet this is.
What a ride from .225 to $2.05!!!
New HIGH again Woo hooo
Nice and conservative highs for now.
Some day it will run as Investors become aware of Mart resources.
Great management
Great dividend
Great balance sheet
Still undervalued
Great investment
.... Vrrm vrrm
New HIGH again Woo hooo
Nice and conservative highs for now.
Can't wait till it explodes as Investors become aware of Mart resources.
great management
Great dividend
Great balance sheet
Still undervalued
Great investment
.... Vrrm vrrm
New HIGH.... Woo hooo
Mart resources.
great management
Great dividend
Great balance sheet
Still undervalued
Great investment
.... Vrrm vrrm
New HiGH....
Go InMart the next wallmart in terms of successful .... Vrrm vrrm
As soon as the public becomes aware of the generous dividend and the stability of this company ... Brave yourself ... Vrrum vrrum
Lol! Good point :)
Hasn't been a penny stock for quite a while.
What a great company with sound management and a great ride up up up. Refreshing for penny stocks
My 155,000 shares are quite secure.
I suspect we will soon break through $2
Pipeline is under construction
Shell contract soon to be finalized
The divvy just keeps on delivering
More oil than they can currently pipe to the port
$3+ in 2013 plus the steady flow of a quarterly divvy
HOW SWEET
MM76
Hey Southern Gal, You ready for the BIG ONE?
It's coming..............
Got my 15,000 shares locked and loaded....
See you at 4 bucks.
Mart Resources, Inc.: Pipeline Disruptions Resolved and Production from Umusadege Field Resumes
- Umusadege field production and deliveries into the export pipeline resumed on December 21, 2012. - Factors affecting the export pipeline and export terminal that caused temporary shutdown of Umusadege field production have been resolved.
CALGARY, ALBERTA--(Marketwire - Dec 24, 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 providing the following update on Umusadege field production operations.
Umusadege Production Resumes
Due to an ongoing shutdown of the export pipeline that started on October 30, 2012, there had been no production from the Umusadege field in November 2012 through December 20, 2012. Nigerian Agip Oil Company ("AGIP"), the pipeline operator, has advised that repairs to the export pipeline have been 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 are expected to be increased to normal levels over the next several days.
AGIP has also lifted its previous declaration of force majeure on loadings at the Brass River Export Terminal. The most recent shipment of crude oil produced from the Umusadege field occurred at the beginning of November 2012, with a shipment of crude oil produced in October 2012 of 320,000 barrels of oil.
Anyone with an understanding of how reserves are calculated can easily extrapolate at least a coming 3 fold increase in reserves ....
Catalyst # 1
... UMU 10 will be a Monster ...
Catalyst # 2
... SHELL pipeline announcement ...
Catalyst # 3
... Merger ... imminent ( together with huge extra divy :) ) ....
Catalyst # 4
... New fields ...
Catalyst # 5
... NO DECLINE !!!, PREMIUM TO BRENT !!! zeroing in on 30-40,000 bpd ...
... EASILY $ 3.00 - $ 5.00 within 6 months .. easy !!!
Another new high for mmt
on a terrible day for stocks in general
52 week high closing price
MMT.v/MAUXF - great stuff! Let's hope they can pull it all together!
How does level 2 look today for MAUXF?
Great presentation
http://www.wsw.com/webcast/canaccord7/mmt.v/
New pipeline materials already purchased
pipeline land already acquired
plenty of cash in the bank
umu 10 results due soon
special divvy possible
contract with shell agreed to and waiting for signatures
$1.75
Getting closer to a 52 week high PPS
Only a few pennies to go.
News out very soon with UMU10 update.
Wade giving keynote speech today
What a ride it's been
Bluto Blutarsky: Top this.
http://www.nytimes.com/2012/10/03/world/africa/at-least-25-are-killed-at-nigerian-college.html
up .11
getting closer to a yearly high pps
Nice movement today. +$.10, +6%
Divvy paid today
News this week.
All Aboard ha ha ha haha hahahahaha!!!!!!!!!!!!
The train is getting ready to move people....
Get your divy's and SP increase.............
Nice going here!! Accumulated a lot when it was around 60c.
Big Move UMU-10
Rumors on "LOTS OF OIL"...in UMU-10
Can't wait to see the results...
This will be fantastic!!!!!!!
2.50 here we come
Congrats on this one SG. I have been following it and tried to get in at $1.34 earlier this week after the pullback, when the stated ask on L2 and every quote service I could find was $1.34. My order never filled, and I learned later, after contacting TDA, that my order was routed to the Canadian exchange, and that the Ask there was $1.35. Hence, I never got the shares.
Is MAUXF hard to trade because of the different exchanges? I assume you would recommend jumping in at this price, but it is always hard to fire at shares higher than you initially intended. Any thoughts on an advantageous entry point in the event of another dip? I will likely talk with a trader next time or set my limit higher on my electronic order.
This looks to have great promise.
I got my op to double down under 1.50 as previously stated and did so at 1.39...the divi alone is 14% annual return at this level. After reading up, rough Q but most of that (line losses and acrual swings) not signs of long term weakness IMO. The story still holds and the story is about a lot of oil in place.
Mart Resources, Inc.: Appointment of New CFO
CALGARY, ALBERTA--(Marketwire -09/05/12)- Mart Resources, Inc. (MMT.V) ("Mart" or the "Company") is pleased to announce that the Company has appointed Mr. Dmitri Tsvetkov as Chief Financial Officer, effective September 1, 2012.
Mr. Tsvetkov was previously Chief Financial Controller of Heritage Oil Plc, a FTSE 250 (Exchangeable Shares listed on the Toronto Stock Exchange and the London Stock Exchanges) oil and gas exploration and production company, which he joined in 2007. Before that Mr. Tsvetkov was with PricewaterhouseCoopers in Calgary, Canada and Moscow, Russia. Mr. Tsvetkov has more than 17 years of financial and accounting experience in oil and gas industry, and has a Chartered Accountant (CA) designation from the Canadian Institute of Chartered Accountants and an ACCA designation from the Association of Chartered and Certified Accountants in the UK.
James Saretsky has resigned as interim CFO of the Corporation effective September 1, 2012, but will continue to provide consulting services to Mart for a transition period.
Wade Cherwayko, CEO of the Company stated: "We are pleased to welcome Dmitri to Mart. His significant oil and gas financial experience will be valuable to Mart as we meet the challenges arising from our growing production. Mart would like to thank James Saretsky for his dedication, hard work and valued service to the Company as interim CFO and we wish him well in his future endeavours."
Mr. Tsvetkov has been issued 1,000,000 incentive stock options at a price of $1.35 per common share, expiring on the fifth anniversary of the date of Grant.
Was market looking for 0.1 per share instead of 0.05? Or was there another reason for 14% haircut?
MAUXF: Mart Resources: Oil operating results with Quarterly Dividend started.
http://finance.yahoo.com/news/mart-announces-financial-operating-results-120000427.html
Nice buy...i got .20 sucker
Not selling my shares!
After another 52 week high it looks like a pullback might be starting...
$1.77
And another 52 week high today.
Gotta love that....
$1.76
And another 52 week high today.
Gotta love that....
And another 52 week high today.
Gotta love that....
I'm not so sure about a million. Not in the next year anyway.
After the next well is producing and their new pipeline is flowing- perhaps the company will be acquired for $7 or more,
I'm happy to stick around. The yearly divvy is nearly equal to my share price
I'm always glad to hear when someone got in at low prices.
Good for you. I'm happy I got in at .98 cents LOL!!!
And got the DIVY...
If you have 100 K shares at .22 cents.. Well, you gonna be a Millionare soon.
I'm hoping to make 50-100K myself on Mart.
The party has just begun here.......
have been waiting for a pullback to double my position....again. the only thing that could derail this train is a geopolitical meltdown in the region.
i'm looking for 1.50 but it seems to be well supported where its at now.
I bought in at .21
Stop rubbin it in..........
........with the .22 cents.
We're all pissed enough already that we didnt get that deal too!
I agree with everything you posted.
Only wish I bought more @ $0.22 and $1
Playing CEN now. Looking to take it from $15 to $20-$21 in next 6 weeks.
G'luck
SG,
It appears that many out there have not heard of Mart.
We are still under the Rader.
This Index move UP, will certainly get some attention.
When the Mart "Story" hits the big MM's, we will see this SP come up along with the great story.
Mart is producing so much Oil in such a short period of time.
MAUXF is very undervalued, especially now with the DIVY.
We should be at 3 bucks EASY.
Mart offers a yield that cannot be turned down by anyone.
I don't think people realize that when the pipeline is "intact", and production goes from 12,000 BOD to 30,000 BOD
then CASH goes from 70 mil a quarter to 200 mil a quarter.
Mart's gonna take off to 10 bucks...
I've seen this before with other OILER's.
But Mart has very strong CASH flow, better than most I've seen out there in this League......
Mart is my ATM!!!!!!!!!!!!!!!!!
Mart Resources was added to the S&P/TSX Venture 30 Index as of the market's close today.
That means funds, ETFs and groups that track or replicate the S&P/TSX Venture 30 Index will be buying and holding Mart. The prestige of inclusion on the list is always good for a bump in the share price. Changes to the index are done on a semi annual basis; so we've got 6 months of increased visibility ahead of us.
http://ca.finance.yahoo.com/news/p-dow-jones-indices-announces-211500599.html
Mart Resources added to S&P/TSX-V index
2012-08-10 18:28 ET - Miscellaneous
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
S&P Canadian Index Services is releasing the results of the semi-annual review of the S&P/TSX Venture 30 Index effective after the close of trading on Friday, Aug. 17, 2012.
ADDITION
Issue name Symbol
Mart Resources Inc. MMT
I'll be buying more shares with my extra 1400 bucks from the divy.
2.50 here we come. Then 5, then 10.
That's hopefully going to be Mart's story...
Got the special dividend today!!!!!!!!!
Man......is this a great stock or what?
bring on the regular divi in september!
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Mart's primary focus is bringing into production its Nigerian marginal proven undeveloped fields: the Umusadege Field and the Qua-Ibo Field. Mart has established long relationship in West Africa and in particular Nigeria where Mart has a strong presence with an office in Lagos and an operational base in Port Harcourt. On each of the fields, Mart has entered into Financing and Technical Assistance agreements with the farm-out operators. To achieve its aim in a very tight drilling market, Mart has acquired two onshore drilling rigs that will initially be used exclusively on their various Nigerian properties. All Mart's assets and prospects are analysed and reviewed by Chapman Petroleum Engineering in Calgary and Horizon Energy Partners in The Hague.
Operations Update
Mart and its partners, Midwestern Oil & Gas Company PLC (Operator) and Suntrust Oil
Company Nigeria Limited, are pleased to announce that the majority of the rental
production equipment in use at the Umusadege oil field has been replaced with
permanent facilities. The main equipment replaced includes production separation
facilities, manifold, and interconnecting piping. The installation of the permanent facilities
will result in a net reduction of direct field operating costs of approximately $2.60/barrel
based upon average daily production rates for January 2010.
Average daily gross production for January 2010 was 3,935 barrels of oil per day
(“bopd”) from the UMU-1 and UMU-5 wells. Of the total production for this period, the
UMU-1 well (commingled XIIa and XIIb zones) contributed an average of 1,710 bopd
and UMU-5 well contributed an average of 2,225 bopd.
With stable production and strong oil prices over the past several months, Mart has been
able to significantly reduce trade payables and continue to service its bank debt in a
current and timely manner. Due to continuing strong cash flows, Mart and its partners
are now in a position to continue with development activities on the Umusadege field in
the very near future.
Mart and its partners are currently finalizing development plans to increase production
and reserves from the Umusadege field in 2010. Planning is underway for development
drilling that is anticipated to commence in early Q2/10. It is also anticipated that the two
existing producing wells will be re-completed in Q2/10 and Q3/10.
About Mart Resources:
Mart Resources Inc. is an independent, international petroleum company focused on
drilling, developing and producing oil and gas from low-risk proven petroleum properties
in Africa. The Company owns two drilling rigs, has strong local relationships and has
formed joint venture partnerships with indigenous operators in Nigeria.
For more information, please contact Wade Cherwayko at London # +44 207 953 4090
or e-mail: Wade@martresources.com, or David Halpin at Calgary # (403) 270-1841 or email:
David.Halpin@martresources.com. Additional information regarding Mart
Resources, Inc. is available on the company’s website at www.martresources.com.
CALGARY, ALBERTA--(Marketwire - Dec. 9, 2010) - Mart Resources, Inc. (TSX VENTURE:MMT - 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 are pleased to report encouraging initial test results from the first and second of four planned production tests on the UMU-6 well located in the Umusadege field.
The first test on the UMU-6 well was conducted on the XVII oil zone, which is the deepest zone to be tested at 8,618 feet with 10 feet of oil pay. During the test, the well flowed at stabilized rates up to 3,102 barrels per day of 42.5 API gravity oil through 3 1/2 inch tubing on a 26/64 inch choke at a flowing tubing pressure of 575 PSI. Water production was less than 0.2% and the gas/oil ratio was approximately 51 standard cubic feet per barrel.
The second test was conducted on the XVI (b), a 20 foot oil zone, which flowed at stabilized rates up to 3,433 barrels per day of 40 API gravity oil through 3 1/2 inch tubing on a 22/64 inch choke at a flowing tubing pressure of 610 PSI. Water production averaged 0.3% and the gas/oil ratio was approximately 60 standard cubic feet per barrel.
The two additional zones to be tested are the XIII (b) with 23 feet of oil pay and the XIII (a) with 18 feet of oil pay. Further updates will be provided on these zones following completion of testing.
All of the UMU-6 well's primary objectives, including the XIII, XIV, XV and XVI sands were hydrocarbon bearing with preliminary results indicating gross oil pay of 40 feet, 24 feet, 6 feet and 18 feet from these sands respectively. A deeper XVII sand was also encountered with initial results indicating 8 feet of gross oil pay. The XIII, XIV, XV, XVI and XVII sands have not previously been assigned reserves in the Company's most recent NI 51-101 reserve report. The Company plans to update its reserve report once the current testing program of the four zones in the UMU-6 well has been completed.
CALGARY, ALBERTA--(Marketwire - Feb. 14, 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 Ltd., provide the following production and drilling update at the Umusadege field.
We are pleased to announce that production at the Umusadege Field has reached an all-time high of 8,533 barrels oil per day ("bopd") and that drilling activities are progressing at the UMU-7 well.
UMUSADEGE PRODUCTION UPDATE
The Umusadege field is currently producing at 8,533 bopd from three wells: the UMU-1 well at 2,005 bopd from the XIIa and XIIb sands; the UMU-5 well at 2,477 bopd from the IX sand; and the UMU-6 well at 2,164 bopd from the XIIIa sand and 1,887 bopd from the XVII sand. Completion of repairs on pumps at third party owned and operated export facilities has resulted in this increased production level compared to levels announced on January 19, 2011.
Midwestern, Suntrust and Mart are negotiating with the third party pipeline owners and the crude oil export company to further increase the export allocation for the Umusadege field to accommodate additional production from existing and future wells. Upon completion of these negotiations, it is anticipated that the aggregate gross Umusadege field production could increase to between 9,000 and 10,000 bopd from the current three wells on production.
The UMU-6 well was completed in December 2010 with a dual 3 ½ inch and 2 ? inch tubing string configuration. The XVII, XVI and XIIIb sands were completed in the 3 ½ inch tubing string and the XIIIa sand was completed in the 2 ? inch tubing string. As a result of the completion technology used, the four zones that have been completed can be opened and closed at any time. Although four zones have been completed and tested it is not technically feasible to produce the UMU-6 well from all four zones simultaneously due mainly to capacity limitations in the tubing and initial pressure differential between the sands. In accordance with good oil field practices and well test results, production is occurring from two zones at the present time. Production will be monitored over the next few months to determine the optimal combination of sands to be produced from the UMU-6 well.
In addition, to ensure there is adequate pipeline capacity to meet anticipated full Umusadege field development requirements, Midwestern, Suntrust and Mart are currently evaluating new pipeline and export options to provide increased future production capacity and to provide another independent export route. Upgrading of the permanent central production facility located at the Umusadege field to process up to 30,000 bopd is currently ongoing.
UMU-7 WELL
The UMU-7 well has reached its objective depth in the 16-inch upper hole section of 3,685 feet and 13 ? inch casing is currently being run and cemented. Once this casing is in place, a 12 ¼ inch hole will be drilled to an estimated total depth of approximately 8,800 feet and 9 ? inch casing will be run. It is anticipated the UMU-7 well will then be tested, completed and placed on production.
As previously announced, it is planned that the UMU-7 well will be completed as a dual tubing string configuration allowing for the potential of multiple zones to be produced from the same well bore. The UMU-7 well's primary objectives are the previously identified VIII sand and the new X11c, XIV and XV sands that were discovered by the UMU-6 well in December 2010. The UMU-7 well is being drilled from the same three-slot drilling pad as the recently drilled and completed UMU-6 well. The third slot on the pad will be used to drill the UMU-8 well.
Chairman's comment:
Wade Cherwayko, Chairman and CEO of Mart Resources Inc, said "The UMU-6 well represents a significant milestone, having more than doubled Umusadege production from the 2010 average of 3,938 bopd to 8,533 bopd. With drilling activity continuing on UMU-7 well and future development drilling, we also look forward to further increases in production in the near term."
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