Please all bear in mind,RR11-17 wells are not NEW ones. Those wells have been around for a few years and if they can produce at 5mmc sustainably, then WHY they have been shut before. If the reason is that they cannot produce at this rate sustainably or produce PROFITABLY at this rate, then the directors once again are spinning the words and try to take away our hard-earned money by giving us a fake hope.
2 conditions that I will take up the SPP: first 5mmc on CASH FLOW REPORT, NOT on an announcement which looks to me more like a desperate try to lure us into buying the shares. Second, ALL the directors have taken up full amount.
Personally, even then I won't take up all as it looks clearly to me that if before the close date share price can go down to 2.1c then after the allocation, it should go way below 2c.
I just think that MAE directors are at this forum looking at our posts. Many holders have said last week that in order to survive, MAE has to produce at at least 5mmc and then this week, this dodgy announcement is released. Coincident? I do not think so.
MAE Price at posting:
2.1¢ Sentiment: LT Sell Disclosure: Held
