directors keep buying....., page-12

Directors last bought at .57 . That was the cheapest point .

They have spent $290,000 plus since last December which is not chicken feed .

The board was reduced from 6 to 5 last year so they have cut back there .
The incentive options are for execs and non execs and have to be exercised by them also like us listed option holders, sometimes at prices much higher than 25 cent MAEO .
The ones announced last week have 50 and 60 cent exercise prices . That is more money to the co if they are exercised . Options are incentive but are ultimately not free .

Cost per well for MAE are cheap compared to explorers of sea and deep land, especially when there is no guarantee of finding oil or gas .
MAE management claim that all costs associated with aquisition, finding and development of their wells is equivilent to 50 cents per thousand cf which leaves a US $6.50 margin per thousand cf as NPBT earnings . Try doing that in Australia .
Most importantly MAE are not suffering any dusters, so money is being spent with a definate payback coming .

I am relatively fresh back to MAE so I am not suffering impatience, but I can see why some may be frustrated, but selling out on the cusp of plan fulfillment is my gain .

But the sp is cheap, the directors have put money where their mouths are, the co has no debt, has cash now, is aggressively spending cash on drilling and development now, is about to get Options cash, but most importantly is giving as much hint in announcements of impending huge earnings as is necessary . Growth costs money .
Read the February update .
Another update due within a week .
How many new wells tied in for production this month ?
Forward PE is 5.7 approximately and based on current tie in development only, so good luck with your decision to hold or sell .