The last two announcements certainly indicate that things MAY be happening for the good of the company. A JV and a possible sell off of non-essential assets could very well be positive in the short to medium term.
Like most holders I also await with baited breath the flow rates/results of the previously closed wells together with those that have been recently drilled. The Directors have clearly indicated that results were to be available at the end of the second quarter. We have passed that time and I expect that flow rates will be posted in the coming Quarterly Report.
It certainly is no good saying we have 260+mmcf of gas underground. For MAE to go forward in the interest of the shareholders flows of gas must be announced (hopefully of a commercial quantity) and if no flow....why not! Any possible JV partner down the immediate track will want this information announced also. The resource is confirmed, the infrastructure is in place ....& the expertise and direction given by a JV partner may just see the company reach its potential as a producer.
The dark clouds hanging over the USA regarding their financial situation will have an absolute destructive affect on MAE if promised flow rates of gas into production are not realized. Bernie
MAE Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
