I just sent a post & it didnt appear in HC.So will resend & sorry if get this twice.
Lets all try & be balanced & as we share thoughts, we will all benefit from HC.
MAE is my worse performing stock. We all know the SP has suffered terribly due to the "inaccurate " for a better word, of the past announcements. So what makes the last few announcements any different to the past. For one, MAE has JS who has a plan whereby JC knew "jack sheet". MAE has been freed of most deadwood. I along with others was conned with their past optimistic reports. However it is my choice alone to give MAE's new management a chance. I would rather lose 5 cents a share & can live with that. But cannot live with the thought had MAE sp became a 4,5 10 bagger because of improved flows & I had sold out.
My gut instincts & choice is that things are more reliable this time round. Trust I havent upramped or downramped.
Also with this last annoucement below. One could say it is more of the same BS or it is more reliable this time round, It is my choice to accept it as the latter. as always, time will tell.
Work has commenced on the 8 well remediation and workover program which is aimed at bringing the most promising Clear Creek wells back into full production at rates of between 1‐4 million cubic feet of gas per day per well by the end of August 2010 with a total production target of 8 million cubic feet of gas per day by this date. Under the program, each well will be subject to three to four stages of works, which are designed to open up the full Ferron interval to production, via the removal of blockages and flow restrictions and the efficient management of water produced from operations. The program is initially focussed on bringing the Oman 2‐20, Ridge Runner (RR) 13‐17, RR 11‐17 and RR 2‐19 wells at Clear Creek back into production. Under the current schedule, these wells are expected to be back onto production to varying levels by June 2010. As announced to the ASX on 22 March 2010, remediation work is progressing successfully on Oman 2‐20, with natural gas now being consistently sold into the market.
MAE Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held