mae full yr accounts just ann, page-5

Sadly adventra I also come to the conclusion that the company is basically broke.The financials are an absolute disaster.

The only way they can survive now is to get the problems with drill and frac fluids sorted out pronto and get the wells producing to managements stated goal of 20mmcf/day.

Unfortunately time is against them.

According to the outside consultants there are considerable fluids that remain to be removed.Given that it has taken over a month to largely complete RR 11-17 (still not producing atm)and that work has yet to commence on RR 2-19 one would have to conclude that the situation is dire.

It would appear that hydrates are not the main impediment to production now but the retained fluids due to the way the wells were drilled and the frac method employed.

I sincerely wish the best outcome for the company and share holders as I have an affinity for MAE going back years.

I find it impossible though to ignore the facts as presented in these financials-all there in black and white for all to see.