"The recent Sinochem/Pioneer deal valued our acreage at a whopping US$447m. " I am not sure why you think this is relevant to MPO. Completely different acreage. MPO paid $300 a acre for its Fiesta ground (23000 acres) Its the bottom of the midland basin which is un proven at the moment and from the drilling results achieved so far, could be uncommercial. If that is the case, Then MPO is left with very little but its cash.
MPO Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held
