MAE rated as a BUY apparently (but no link yet, as above) - This gas company, who has gross yeild of nearly 1 million cubic feet of gas per day - embarassing really) has recently completed several Capital Raisings at current levels (actually current levels are approx 10-15% lower at market price, so it would have been smarter to buy on market than participate in a CRaising) in order to fund:
1) Some very generous Directors Salaries (for Directors who bring little to no value to the company, ie price from $1-80 down to less than 2cents in under a year - blamed on Bad drilling results and problematic hydrates issues, for which there had been no evidence as yet provided to me as a shareholder),
2) Potential Litigation and Legal Fees,
3) Water cartage and re-re-re-re-re-re-recomissioning,
4) oh, and hopefully there could be some left for operations going forward,even though one new well would cost around $4Mill based on historical costing costs.
IMO, the more work they do, the more they damage the company. IMO, get rid of these Directors, re-name the company and watch your shareprice triple overnight.
MAE Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
