"No where did I say that is the valuation."really? on 15/4 you...

"No where did I say that is the valuation."

really? on 15/4 you posted:

"When asked to provide a valuation of mae,you and others had a try.But it was sholtz who rightfully provided the answer to the valuation of mae."

"So why do you pomhat,believe finance is continuing considering valuations do not support that claim?What do banks now we don't or what are we missing here???"

again, to keep it simple, finance is continuing because the banks believe they could sell MAE asset's today for more than the face value of the loan. i don't need to get my hands on the banks own internal valuation to know this is the case, it is simply how business is done.

in an earlier post you used an example of KK buying a 3br house and in that situation a bank would do its own valuation. i'm going to provide an example here, but to be clear, I'm not saying that MAE has real estate (because you seem to get hung up on that point), all i'm doing is providing an example of bank behaviour

lets assume KK went out and bought that 3br house, for $100,000 and with the aid of a $50,000 mortgage.. move along a few years, KK still owes $50,000 (because he's only been making the interest payments to date) but has ran into trouble making his monthly repayments. KK's bankers will let him beg, borrow and steal from friends and relatives to continue to make the interest payments if it could be sold today for $200,000, $150,000, even if could only be sold in a fire sale for $75,000. they will continue to let him stay AS LONG AS they think the house is worth more than $50,000. if the banks thought, for one moment, that his house was worth only $40,000, they would pull KK's plug. now, as an outsider looking in, I don't need to know exactly what KK's house is worth to conclude that his bankers believe it to be more than his $50,000 loan (and thats all i've ever said on this matter)

back to your post:

"In the event mae had 20mmcf gas flowing and it was sold,it would be classified as cureent will it not? "

if what was sold? the gas or the wells? if only the gas, no the $160m of historical expenditure that is on the balance sheet would stay as a non-current asset..

if you mean the project (the board makes a formal decision to sell) it may be classified as a current asset if its going to be sold within 12 months - this does not depend on or need there to be gas flowing

"In the event mae had 20 mmcf gas flowing,it would solve ALL immediate problems will it not?"

maybe, what the operating costs? it may be enough to cover the interest and upcoming loan repayments? it would obviously also make the projects more marketable and attractive to buyers