V1, tax loss selling is probably all it is at the moment, given the low volume. Nonetheless the SP has suffered and as you say we have nothing to show for it in 12 months, although you could argue the share dilution means the company's total value has increased somewhat over that time.
My concern is that the SP will be swept down further and stagnate even more if the overall market goes into a bear trend like it's looking to do. During the GFC1 we saw MPO fall to mid-40's. I acknowledge that it's in a much better position now than it was then, but I get the feeling we're going to fall well below $1 (I have a 75c target on the chart) if things get worse. I just don't know how much the oil production news will cution the SP. Yes we're producing and we should be gaining some decent cash flow momentum but I fear that the momentum of a bear market will be stronger. What's everyone's view?
MPO Price at posting:
$1.03 Sentiment: LT Buy Disclosure: Held
