roleyman, I have been in these suckers since 1999!! They sold out the gold stuff, had about 12M cash plus shares in some co. listed on Toronto exchange, sold the shares, had more cash, tried to get in on the dotcom boom and missed, missed the biotech ...all stuff you know. I bailed out of most when they hit the 20s post capital reduction and entry into gas business. Then jumped back in at about the same price when results started coming through and finally topped up in the low 30's when I did the sums and realised what imo was a dead set belter.
When I consider what mae could be worth, I look at what Woodside paid for Gryphon (US300MM) ...if all goes according to plan, MAE could have as much or more gas under its belt by year end than WPL acquired in the Gryphon deal ... and Gryphon is offshore. I'm loving it at the moment and do not expect it to change any time soon.
CPC
carpenter pacific resources limited
