Sir Swingalot I agree with your analysis and technically it would appear to be on an upswing. In the course of normal trading and no outside influence this would be correct. However there is considerable risk that TTT, La Jolla and the Bank have the ability to convert their notes and sell their shares. So short term, from a technical perspective, yes the signs are very positive. Long Term. using fundamentals I am highly sceptical, that UMS 1 and Oman 2-20 will flow at rates greater than 0.7 mmcf/day between them. As stated on the Utah Govt website not company announcements These wells are the potentially their two best wells.
Lots of money to spend on lawsuits and outstanding debtors. So convertable notes must be used.
MAE could one day be successful, but it will be at the expense of the current shareholders.
When the convertable notes start to be converted it will be awful for the share price.
Be thankful that so far this has not happenned, and that is why things are still so positive.
You cannot predict when the notes conversion will start, although we know the bank will have $5M in convertible notes starting 28th of February at the latest.
MAE Price at posting:
2.6¢ Sentiment: Sell Disclosure: Not Held
