Many moons ago i mentioned this stock could produce a divdend per year of 1$/share or more.
The UMU field alone can produce 50,000 bod for many years , beyond 10..
At 25000 bod net to MMT ..THAT alone could produce a dividend of 80 cents LOL
Once UMU is producing at this level thats all the pipeline space we can get so the UMU CASH COW..
produces cash for our next fields we go to.
You really can't cap the SP nor the dividend and any fields you develop don't decline .well it takes time to drain 33 sands . Really your flows are restricted by pipelines, not by the fields.
I sold some today because i bought at 10 to cents (avg 30 cents) on ridiculous large position.
Bought car and bunch of stuff and padded my bank acount. Made so much money cause i sold almost all my positions to buy MMT ...SO was forced to diversify so i bought some more INA and CEN.
Nothing more to say except my expectations of UMU field performance, SP, DIVIDENDS are so high nobody will believe me anyway . They have no needed line of credit , debt ..just cash . Other oil plays consider it a victory if they get a line of credit from a bank.I reallly don't see an immediate rush to develop another field until we finish off developing UMU and getting it up to the 50,000 bod or more if they give us the flow space.
Even if we do get a second field, u only got to drill one exploratory /production well to get it started and just what kind of pipeline infrastructure is available??
THE ONLY REAL RESTRICTION FOR ALL THESE NOGERIAN OIL PLAYS IS FOR NOGERIA TO GET ITS BANKS IN ORDER TO SUPPLY ENOUGH DIRECT LINES OF CREDIT TO BUILD MORE PIPELINES AND INFRASTRUCTURE TO ELIMINATE THE BOTTLENECK ON OIL FLOWS. SECONDLY THEY NEED TO SUPPLY , IN JOINT VENTURE ENOUGH SECURITY, REGULATION ETC. TO GET THE OIL FROM WELL HEAD TO MARKET AT A RATE OF ABOUT 8% OR LESS ON A CONSISTANT BASIS!!