MMT.v has frequently suffered from Agip pipeline disruption for "maintenance", especially associated with the rainy season and bunkering. This latest "maintenance" has lasted 4 wks, cutting cashflow to nil.
There is also a rumor about potential combination with Midwestern to become a large indigenous company, but there have been delays with this as well, causing investors to wonder how good or bad the terms of an eventual deal will be for Mart. It is important for Mart-Midwestern to combine before the next round of marginal field bids, which could happen almost any time now, as it only awaits President Goodfellow's good signature.
All that being said, Mart has tended to trade within a relatively wide trading range. We had hoped the range had moved higher recently but perhaps it only got wider, as the low end is now lower than most of us longs can appreciate.
Good luck!
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