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Mart Resources: It's The Right Time To Buy This African Oil Play
- Mart Resources has inched higher by 22% in the last five months on some crucial positive developments.
- Production and revenue for Mart Resources is likely to surge in FY15 as the company starts using its export pipeline for oil sale to Shell.
- Mart Resources is undervalued based on relative valuation with a potential 63% upside over the next 12-18 months.
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Tue, Oct. 21, 11:59 AM
- Royal Dutch Shell (RDS.A, RDS.B) says it has signed agreements to sell all the Nigerian oil assets it put up for sale last year, as it continues to reduce its exposure to the area amid violence and rampant oil theft.
- Shell says that, together with its partners Total (NYSE:TOT) and Eni (NYSE:E), it signed an agreement to sell OML 18 to a consortium led by Canadian oil and gas company Mart Resources (OTCPK:MAUXF); it has now made sale and purchase agreements for four oil blocks, and made an agreement for the Nembe Creek Trunk Line pipeline.
- Shell also reportedly has agreed to sell another productive Nigerian oil block, Oil Mining License 29, and an associated pipeline, to a local consortium.
Mon, Jun. 30, 9:11 AM
Mon, Mar. 24, 9:00 AM
Jan. 31, 2012, 10:17 AMOil producer Mart Resources (MAUXF.PK), which had doubled in the past couple of months, is down over 20% in early trading on news that a third of its production was shut in for the month of December. Additionally, Mart shareholders get a nasty surprise about "pipeline losses," which apparently are a risk to consider when investing in Nigerian oil producers. (submitted by Devon Shire) | Comment!
MAUXF vs. ETF Alternatives
Mart was one of the first foreign companies to establish partnerships with local Nigerian oil companies under the indigenous and marginal field programs, thus giving Mart strategic advantages due to the Companys relationships and local industry knowledge. Mart is a strong supporter of the... More
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