As indicated in other posts, MPO management is supposedly pretty good. One thing that is important is also the contacts/relationships/joint ventures management can get into. It seems that management was able to get 100% of south africa, more of the qld resources and maybe other things that are on the boil.
Its joint venture partner in Glouster ie AJL is another of one of these positive strategic arrangements. And why, if you read todays AJL announcement it has bought a drilling rig company located in Rockhampton which has 11 rigs. And why is this good. MPO are embarking on a drilling program which requires rigs. So you can see the tie up here is the ability to get, hopefully preferential access to drilling rigs for both gloustcer and qld to prove the 2P reserves which will start seeing the crystallistion of MPO's value in the share price.
As I keep saying MPO is a keeper.
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
