Who else is onboard? I've been holding since 8.9c now. Have a
look at the MEL investor presentation. There's a table near the
end listing some of the current CBM players, their market caps and
their 2P reserves (generally the reserve along with 1P you choose
when valuing)
Now remember that that table doens't factor in the latest China
block that is worth some 580PJ to Molopo. With this 580PJ and the
120PJ already in Queensland & New South Wales we get a staggering
700PJ of reserves available.
For those who havne't looked at the MEL presentation, Arrow and QGC
have reserves around that range and have market caps of $450M+++
With a market cap of $450M that puts MPO at 450/650 or above 60
cents. This doens't take into account the Glou-Basin that's having
a fast-tracked 18 month exploration program along with partner AJ
Lucas. Just FYI the current price (last I checked was 10c, up from
a close of 9.2c yesterday)
Also we have news due. Always good to drive up the price. We have
a internal confirmation of the China resource due soon (see last
China ann.), results from dewatering at the 'Timmy' field due
soon. both of these are market sensitive and can drive the price
sky high or into the ground. And thirdly news relating to the
latest exporation licenses in South Africa are due soon. The south
africa news isn't that price sensitive but if sucessfull can be
viewed as nothing but good!
And not lastly - Tiny Molopo has 3 high ranked executives recently
joined the company. Where did they come from before? BHP of
course! Ian Gorman is a director, along with 2 other high BHP guys
who also have experience in Santos.
The CBM sector that is hot with the current "Green" energy crisis
going on (remember how Uranium has more than quadripled in the past
few years). QGC recently had 5 takeover offers from 3 seperate
companies. This sector is absolutly hot AND news from 3 different
fronts (2 price sensitive).
So here's the summary:
CBM reserves that would put the company at 60cents at least. 3
high ranking executives switch from BHP over to a company with a
market cap of just $50M. An amazingly hot sector. A share price
near the magical 10c mark (+5% increases for now on, -1% decreases)
Sorry but this is what I like to call an absolute no brainer. I
have a oodle of these at an average price of 8.9c (been buying
since 6cents). I'll be holding on for a couple of months yet.
I suggest everybody have a look over the news reports from the last
3 months and decide if they want to buy or not.