Since the appointment of new MD and CEO Steve Cloutier, we can...

Since the appointment of new MD and CEO Steve Cloutier, we can see the share price slowly and positively creeping up from the lows of 26c with a flood of new substantial holders joining the registry.

It is funny to see even at 31c the market cap is some $76.3m, when the company holds $70m cash equating the non-cash asset worth as $6.3m with nil debt.

With the heavy US energy M&A going on with ASX-listed stocks recently seen: AUT takeover of Eureka Energy, Lonestar merger with AMU to form LNR (Lonestar attempted to go for Eureka but failed to AUT's cash offer), SEA's sale of South Antelope Assets to Helis Oil & Gas for $172.4m, followed shortly with SEA's merger with TXN and demerging its non-Eagle Ford assets as Talon Petroleum.

Word was Canadian "Jericho Exploration" was attempting stuff up the Lonestar-AMU merger with a hostile takeover of AMU.

Don't forget many years ago when AWE tookover ADI (Adelphi Energy) for its Eagle Ford Shale assets.

Despite the operational issues encountered by MPO for 2012, we can imagine under a more commercial oriented new MD such as Steve with a corporate finance backgroup. MPO stands to benefit in 2013 with a already brighter future.