I remember when I was a kid, a friend of my dads was involved with the management of Burma Oil who tried unsuccessfully to convince him (my dad) that it was a good idea to invest in the company. I believe the IPO was .005 cents per share and they were looking for investors at $5000 ea. In 1975 that was a lot of money(Falcon 500 was worth about $4000) so I cant blame my old man for not getting involved. Burma Oil was then bought into by Woodside and then called Woodside Burma. In the take over there was a deal done where extra shares were issued to Burma shareholders etc etc. I cant remember the exact details but it doesnt matter. Woodside petroleum now trades at over $40.00/share. Not even taking into account all the dividends he would have received over the years and also the extra share deal, if my old dad had put in $5000 he would now be worth over $40 000 000. Average 1.3 mill per year return.
Is this Molopos future?
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
