i disagree rb Fortis gave them the cash before the IRR wass...

i disagree rb Fortis gave them the cash before the IRR wass released and they can force the co to sell at any price if they dont renegotiate think of it this way if they really wanted the cash back they would sell the assets to recoup the debt only right now i still supect the company isn't getting offers as high as they would like. The biggest issue i have is with the IRR sure it shows they have some solid 1P figures but there are No ral 2p or even 3P reserves to speak of that is scary. The 2.4tcf is a resource and is really quite a high risk of been useless altogether. To make them worth anything they realy need to be converted to reserves even 3P gives more prospects.Look at other gas companies for comparison and you will see MAE has relatively low overall reserves more debt than most as well. Personally think worst case is a sale of assets relative to current SP so maybe $100-$120 mill.

Is anyone here involved with pato's ? its been a while since any alanysis or direction came from those guys . Last i heard they had a hold recommendation on MAE?