When other co's want to buy its to a)increase revenue by buying already producing fields or b) increasing their reserve base to counter natural decline. MAE does not have either, realistically other companies IE Arrow, Queensland gas, sydney gas, Molopo have managed to accumulate 1000's of BCF of 2/3P reserves inthe time its taken MAE to get 180BCF. ITs just not attractive enough atm and the large reserves people are talking about are not reserves they are a CONTINGENT RESOURCE with not even a 10% chance of economic viability applied to them. To make them into actual reserves MAE would have to drill plenty more wells. Even if you thik MAE has a chance to pull something / anything off does anyone here really think they are the best opportunity in the ASX right now? So much risk and really what is the potential reward? NOBODY pays good money for a resource why bother when you can good money for reserves and in much larger quantities than MAE's?
MAE Price at posting:
34.0¢ Sentiment: Sell Disclosure: Not Held
