fortune oil going troppo, page-31

Buddy,

If I was that tall, I probably would have killed a few too many brain cells from bumping my head. Thankfully, I'm not, and am trying to save them to analyse the potential in this crazy market.

I do take your point about there being a "difference between feedback and insults". However, I share NTTG's views on many of cortis' posts. Regular posters like that can really deceive grener investors on HC, and I think the change in the tone/nature of her posts since she sold (after being such a strong and vocal supporter of MPO) was very poor and quite manipulative. To be fair, she wasn't the only one, however I do note some of the anti-MPO brigade now seem to be lying very low indeed.

I'm not so sure NTTG was replying to cortis for her "contrary opinion", moreso that he didn't accept what she was saying as having any truth or fact. I viewed her post as quite dubious in nature, as I still doubt she would have sold if she knew any "big boys".

I still think shrewd investors are accumulating around these levels due to the value/theme proposition for MPO.

Your query whether or not I'm still accumulating is interesting. I have not bought any more for a few weeks now. I think I'm going to see what unfolds in relation to the consolidation, however if it happens to tank back down around 15c or below, I will probably buy some more. I made a mess of my last efforts. Had buys in at 14, 14.5 and 15c's for weeks and watched it inch down below 20. Got a bit impatient and then loaded up the truck some more at 18.5 and 19c, only to watch it hit 14c again. I should stick to the charts a bit more on the stocks I like. Patience is a virtue.

Interesting that I saw your recent post on AAR. I bought some very recently at 9.2c as I wanted some more gold exposure, liked the look of their prospects, and the fact that gold sales are and will fund a large part of their further exploration. In my view they are another value play.

I saw your post the other day about selling to free carry your holding, and was actually going to respond. I know plenty of HC "Gods" talk about this philosophy, however I'm not sure I agree with the logic.

I monitor my investments pretty closely, and always assess them on a risk to reward basis, based on the value equation. I am trying to buy stocks to hold for at least 12 months and preferably much longer. If I don't see any further value or potential upside, or another investment comes along representing much better value then I would definitely reassess my holdings.

My most important focus is my entry point. I will not chase stocks. I follow quite a few, but will never buy them unless I can get in at value, where I perceive my downside risk to be somewhat limited.

Like you, I am still a bit uncomfortable with this consolidation issue. I do think it is opening up further cap raisings, when the focus should be on lifting the share price by further developing the terrific assets that MPO currently seems to have. Then I'm happy to cop a bit of dilution, which should be a fair bit milder based on a stronger share price.

That said, I do rate the prospects of MPO extremely highly. They have the cash to advance their projects into 2008, and they have the assets. Management know what they are doing at a technical level. I just hope they make the right decisions at a corporate level. They are in a sector that has incredible upside potential. They just need a bit of time.

For mine, you either believe in an investment or you don't. I can't see too many better valued speculative investments than MPO, with such upside potential ATM. I don't generally hold too many more than 5 or 6 stocks at once, and preferably less. I'm either invested or I'm not. That's probably why I wouldn't free carry, as I'm a believer in a stock or I'm not.

I do think MPO is terrific value under 20c, however it is my largest holding, so I'm not going to add to it unless it becomes a ridiculous bargain again. That said, the current price might look that way in a few years time. Finger's crossed!!

Each to their own though as far as strategy goes, and I'm sure plenty of people have success following the free carry logic.

Good luck anyway mate.