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Re: Southern Gal post# 552

Saturday, 03/15/2014 10:39:33 AM

Saturday, March 15, 2014 10:39:33 AM

Post# of 591
Stock Pickers refreshes Mart Resources buy®ion=C

2014-03-14 21:14 ET - In the News

*Interesting late Friday Stockwatch release*

Stock Pickers Digest, in the March, 2014, issue, refreshes its buy of Mart Resources Inc., recently $1.34. Stock Pickers said buy five times from May, 2010, to October, 2013, at prices ranging from 35 cents to $1.50. A $1,000 investment for each buy is now worth $10,029. Mart has an effective 50-per-cent interest in the Umusadege field in Nigeria's Niger Delta. In the quarter ended Sept. 30, 2013, its share of production was 4,291 barrels of oil equivalent a day, down from 6,692 barrels a day in the same period last year. This cut cash flow to $24-million (seven cents a share) from $45-million (13 cents a share). Mart had to shut down Umusadege for 46 days during the latest quarter to handle various disruptions and repairs. Now that those issues have been resolved and the field is back near full production, Mart and Stock Pickers expect better times ahead. The newsletter particularly likes the company's five-cent quarterly dividend, which yields 14.9 per cent. Offsetting the high yield and cash flow is Mart's country risk. The military is very active in the Niger Delta, where criminals and militants regularly take hostages, wage ethnic battles and attack oil infrastructure. Buy Mart if highly aggressive.

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