I wonder if this renewal of tenement is what was holding up the sales process???
Clearly it would as they need to have the right to it before they sold the right!!!
One more box ticked for the sale in any case.
I am with Noellyn... 60-80m would be a poor outcome, although even that is probably more than is currently factored into the share price. BOW and ESG were clearly higher than that level, and they are still ongoing.
Some might argue that MPO is having problems with Coal fines etc blocking pumps, but BOW is completely unknown in terms of production as yet, and ESG hadn't done anything spectacular. MPO has a lot more runs on the board in terms of how to develop the asset that any acquirer can use, and the asset is closer to gladstone/pipelines to gladstone. So I expect management to deliver a similar metric (hopefully better) than ESG and BOW received. Maybe a premium for factors listed, maybe a slight discount due to smaller reserve size... who knows. Well hopefully we do soon, I don't want to have to wait until the end of the year!!!
MPO Price at posting:
69.5¢ Sentiment: Buy Disclosure: Held
