it seems to me that some recent posts made have been deliberately designed to cause a sell down of the stock at lower prices in order for some oportunistic buying.
each share currently represents an asset of 42c. (33c cash + oil and gas assets. (current SP 18c.) my view is that the legal stoush should not put too much more of a dent in the above assets than the $5m. already allowed for in the books.
so to me at 18c. I think that I am sitting on some excellent value, and am quite prepared to sit around and wait for it to be realised.
the US will eventually have to face its debt, so tapering will eventually happen and when it does the $US will rise, and MPO will increase in $A value - say in 6 - 12 months from now.
it seems to me that the company is heading towards an eventual total sell down of its assets and return of the proceeds to its share holders.
any thoughts by others as to the direction the company is headed ??
gk.
MPO Price at posting:
18.0¢ Sentiment: ST Buy Disclosure: Held
