Cheap but risky

MART RESOURCES $0.76 (Toronto symbol MMT; TSINetwork Rating: Speculative) (403-270-1841; www.martresources.com; Shares outstanding: 340.3 million; Market cap: $258.6 million; No dividends paid) trades at a low multiple to cash flow. That reflects investor concern about unstable Nigeria.

Right now, Mart is producing oil from its 50%-held… Read More

MART RESOURCES $0.76 – Toronto symbol MMT

MART RESOURCES $0.76 (Toronto symbol MMT; TSINetwork Rating: Speculative) (403-270-1841; www.martresources.com; Shares outstanding: 340.3 million; Market cap: $258.6 million; No dividends paid) trades at a low multiple to cash flow. That reflects investor concern about unstable Nigeria.

Right now, Mart is producing oil from its 50%-held… Read More

Big potential — but with risk to match

MART RESOURCES $0.59 (Toronto symbol MMT; TSINetwork Rating: Speculative) (403-270-1841; www.martresources.com; Shares outstanding: 340.2 million; Market cap: $188.2 million; No dividends paid) trades at a low multiple to cash flow. That reflects investor concern about operating in politically unstable Nigeria.

Right now, Mart is producing oil… Read More

Two extremes of risk for Birchcliff and Mart

BIRCHCLIFF ENERGY $9.00 (Toronto symbol BIR; SI Rating: Speculative) (403-261-6401; www.birchcliffenergy.com; Units outstanding: 124.1 million; Market cap: $1.1 billion: No dividends paid) trades at a high multiple to cash flow because investors expect its production to rise as much as 40% over the next year… Read More

Hi Pat: What do you think about Mart Resources (MMT)? They seem to have finally obtained some prolific production, although it must be said that Nigeria isn’t the most risk-averse place in the world to operate. Thanks for the great and reliable advice. Regards.

Mart Resources, $0.29, symbol MMT on Toronto (Shares outstanding: 335.5 million; Market cap: $97.3 million), is focused on developing, producing and drilling for oil at its on-shore properties in Africa. The company is currently producing oil from its 50%-held Umusadege field in Nigeria.

The Umusadege field… Read More