yeah the share price at the moment of 99cents is way to cheap in...

yeah the share price at the moment of 99cents is way to cheap in my opinion.

They are drilling for 13tcf in about two weeks, independent reports have said gas is highly likely, and MMR is still sitting at a market cap of only 150 million, when it has a 50% stake in a project reported to be worth up to 12 billion.

The quote below from the busniness excellence article puts it into perspective.

"An unlisted public company, Advent has two
major publically listed shareholders. Former
biotechnology focused company BPH Corporate
Ltd owns a 20 per cent share and MEC Resources,
an investment company specialising in energy and
mineral exploration, owns 51 per cent. For both of
these companies, success with this first exploration
well will have a significant financial impact.
?To put that into perspective, MEC is currently
worth around $100 million on the Australian
Stock Exchange (now 150 million), and BPH is worth around
$27 million. Between them they have around
70 per cent total interest in the project,? says
Breeze. ?If the project is worth $12 billion, as has
been suggested in recent press commentary, then
there is substantial capacity for value appreciation
in these two companies.?

source of quote above -
http://www.adventenergy.com.au/Business%20Excellence%20Magazine%20Corporate%20Brochure.pdf