Posted: Thursday Nov 21 10:11:44AM 2013
Mart has been slip sliding away for months. Bottomed out around a buck but finally rallied today +.16 to C$1.31.
Latest well reported good results testing 3650bpd from one zone.
Mart still hasn't resumed construction of the second pipeline so I don't expect this price to last. I sold about 1/3 my holdings today at 1.31 and expect to buy back cheaper later this month,early December. They are due to announce their next dividend in December, which typically causes the stock to rally. Yielding about 15% at current prices.
Posted: Wednesday Oct 2 10:02:36PM 2013
Mart paid it's .05 qtrly dividend today. Based on the current share price of C$1.22, Mart is yielding 16% on a fwd annualized basis. Don't expect much price appreciation until they get the second pipeline built and functioning next year.
Posted: Tuesday Sep 24 8:52:50PM 2013
Still my biggest position. I did sell 1/4 a couple of weeks ago because I was anticipating a selloff ex-divdend and I was right. High pipeline losses combined with ex dividend date caused a big selloff.
2nd pipeline isn't coming for probably 6 months so catalysts are a few months out. When they start drilling with the second rig, we will know that the pipeline is close. Until then, I intend to hold for the dividends and may trade a bit around the ex div date.
Once they get access to the 2nd pipeline, Mart should ramp up production and become really cheap when you consider the 15% dividend yield and explosive growth that's possible with two pipelines and available development drilling locations. Can't wait for the horizontal well!
I am frustrated by the pipeline losses but the upside is too good to pass up and the dividends pay me to wait.
By r cranstone
Posted: Tuesday Sep 24 8:08:36AM 2013
what is bobwins position on mart at present