why not another 1400 or 1000 acres here and there in areas MPO knows already. Should increase the probability to hit economically producable hydrocarbons there.
Oz CBM asset sale. In my opinion better to wait as long as you get the right price. In 2015 (plus x months, years delays) the first hungry LNG trains will export gas. Hopefully Mpo doesn`t get nervous and sells this asset to cheap just because they want to sell it fast. Sometimes you just have to wait when you play poker. I think the longer you wait the better will be the price for a CBM asset you could get there because the capital intensive LNG trains need heaps of produced gas volumes otherwhise they will not survive.
Usually you make money out of oil faster than out of gas because you necessarily do not need a pipeline to sell produced oil. I have some hope MPO generates some near future cashflow out of their oil assets so they can lean back for a better poker position when selling the CBM asset.
MPO Price at posting:
60.5¢ Sentiment: None Disclosure: Not Held
