Hi. Thanks for the cash flow analysis veeone. Only thing missing...

Hi. Thanks for the cash flow analysis veeone. Only thing missing as far as I can see is the $20m share buyback in 2011.

For what its worth, I saw Steve Cloutier speak at the O&G conference recently and I was quietly impressed. Enough so to start building a fresh stake under 29c. Theres clearly a seller around but I doubt it will get sold down below 26-27 so am happy to keep buying at these levels.

Steve's background is in finance and deals. He referred to previous drilling by the company disparagingly as "science experiments" and gave a great little anecdote about how an amber traffic light means stop, not speed up (referring to exploration spending).

I am confident the company is in good hands and is trading at such a steep discount to asset backing that the downside is limited. All that remains is for Steve to unlock the value and ensure that it is returned to shareholders. Given his background in M&A I am confident this will be achieved and in a relatively short time frame. MPO is surrounded by big experienced players and these projects are about scale.

Given that MPO is trading at cash backing, it doesnt take much to start imputing some decent upside. One rule of thumb could be $$75,000 per producing barrel. Thats double the market cap straight off.

G'luck