MMT.V/MAUXF - the underlift...
...which is the excess of the barrels nominated for delivery to AGIP and paid for by AGIP over the barrels actually delivered, decreased from around 36M to 16M (going off memory of FS from earlier here) which is coincidentally about the value of a quarterly dividend. Shows that risk of a dividend cut that some were worried about a few months ago is history. AP note.
I would think the PR that will get us really moving again will be when Mart announces JV-level Umusadege production over 15,000 bopd with a "substantial portion of revenue" allocated to mart through cost oil for pre-Umugini field development ramp-up capex. They were at 13,000 bopd in July and just got 5500 from AGIP. The field can do at least 20k currently. Might be a couple months. Mart will be funding Umu-11.
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