• Confirmation of oiliness at BBW2 (SS188), followed by;
• An announcement that MMR is bringing in a major as a partner to develop BBW, BBE and Lafitte.
Oiliness would blow away all the natural gas models that have been kicked around on this board.
It's appears to me that MMR has too much on its plate and is being pulled in directions that have no TISDZ royalty participation (e.g., Barbarosa and on-shore prospects that are apparently the next to be spud). So MMR needs a partner to develop the leases that are subject to our overriding royalty, or the income benefits and capital appreciation may go only to our great-grandchildren.
The above is fairly obvious. A steady increase in demand for natural gas is another catalyst. What say you?
First, SS188 needs to be a discovery (don't want count chickens before they are hatched). Then, the amount of liquids/oil would enhance the discovery impact on TISDZ.
Lafitte, BBE, and BBW ultra deep are longer term. Partnership with a major would enhance these longer term (higher $$$) UD prospects comming to fruition. As with MMR, I think the investor needs to be patient with this one.
SS188 likely to have accelerated drilling to help fund MMR CAPEX budget - just like Flatrock. These wells would be conventional wells with quicker drilling to production timelines.
First distribution by TISDZ will be mid '13. By the end of '13, there should be 3 producing wells from SS188 & production plans for Lafitte. At BBE, a program to develop the more shallow zones should be in place.