MMT.v/MAUXF: I agree with Traderfan comments.
Thanks for your helpful summary. I haven't listened to the call yet. There were some significant negatives in your summary, particularly:
1. The pipeline will only be capped (not surrounded) by concrete. That makes it more accessible to the bunkering crowd.
2. Also I had hoped (unreasonably perhaps) that there would be an extended tax holiday for new areas drilled in Umusadege, which means the delays in pipeline repairs and new pipeline completion have cost shareholders much in 2013 tax benefits. Bummer! Since 2014 will not have the generous benefits of the tax holiday, much (not sure exactly how much) of the revenues generated by increased production will be lost to the nefarious Nigerian taxman!
3. Not much indication of merger with Midwestern, perhaps due mostly to the insufficiency of cash to do the deal (they can blame Agip and the bunkerers).
Regards,
'peeker
Focus Focus Focus Focus !!!!
