Near term catalysts for further upward price movement include
- Contnuing positive results at Flatrock. 3 successful wells. Flatrock has the potential to contain 1 trillion cu. ft of natural gas reserves. MMR has 25% working interest.
- Rentering its ultra deep well Blackbeard prospect. High probability of success.
- Over 80% average Production growth increase from 152 mmcfe/d in 2007 to 275 mmcfe/d in 2008.
- Company insiders have been buying aggressively
- Looking further ahead, MMR also has a license to develop the Main PAss Energy Hub, a natural gas storage facility for storing 28 bcf of gas in underground caverns.