further catalyst

https://secure.wilsonhtm.com.au/rsearch/Resources/MPO20090316.pdf

Recommendation
MPO remains in a strong position to progress development of its three core projects comprising Queensland CSG, South African unconventional gas and Quebec shale gas with cash of $A121m and no debt. We expect further divestment of non-core assets in the coming year, which will provide additional funds, reduce commitment expenditure and focus
technical and management resources. We expect share price rerating on exploration results and as appreciation builds of management’s track record of delivering on commitments.

We retain our Buy recommendation and our 12 month price target of $A1.80/share.