Ann: Annual General Meeting Presentation , page-43

Malcolm,

I do honetly sympathyse for you on being 25% down on your investment. But, to me it was predictable because of the way this company is run.

Someone mentioned that the chairman should be given the flick, and my opinion is that the MD/CEO should be given the same treatment as well.

Too much cash going out of the door, with very little showing in return.

Finger in too many different pies, lol. Have a look at BPT for instance. BPT is a company at least 20 or 30 times the size of MPO, and which turns/generates hundreds of million of dollars each year from the sale of oil and equivalents, but at the same time, it is spread all over the world with JV's. Yet their sp is only around the 67 cents mark.
I do happent to agree with another poster's comment that being involved in overseas ventures could be detrimental to our sp because of investors lackings of knowledge and understandings.

As for people thinking that a dual listing will be the saviour of our sp and increase it accordingly, all I have to say to them, is to have a short look at what the Canadian listing did to Marengo (MGO). Did it pushed the sp up?? No it didn't. As a matter of fact I will go out on a limb and say that it went the opposite way.

I am lucky enough that I have enetered MPO a very very long time ago, and I am still looking at a profit. But I do feel for the ones that have been led to believe that they were just going to walk down the street and simply pick up dollars that were laying there ready for the pickings.

Cheers,

Buddy