I think whether there will be substantial return here depends on (a) whether the wolfcamp is interesting to a larger player. (b) Whether the lawsuit is frivolous or has merit.
The Quebec land is useless until that province changes its view on fracking. Who knows how long that will take. The good news is that there is no cost to hold the land.
The rest of the Canadian asset package is pretty minor. I hope they have cut costs to the bare minimum. The directors should not be taking a dollar of compensation given how badly they have failed to protect shareholder value.
I strongly favor my merger proposition with ARN (explained in the previous post) as a way to see us get a decent return on the remaining cash before it gets frittered away.
Wiggling
MPO Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
