book values are meaningless in valuing O & G Companies like mae. Best to refer to balance sheet and replace the book value with reserves valuation and estimated leasehold value.Not much gas comming out as you can see. The last recorded book value does not reflect todays stock price of 0.053 rendering it incorrect. In the event no more gas can be produced, then say mae is worth $160million, is incorrect. Any suggestion financiers are not at risk is incorrect.
The only history i am interested with mae is from the 08/02/2010 till this day.
Alot has happened in that small timeframe and I am sure it's more than a coinsidence our concerns here have mostly been addressed.PC buying as a Director at 0.058 provided the base.Then he becomes CEO.Looks like they are setting a new foundation???
Their poor announcement standard caused sp to collapse.Their entry has served to stablise.
How many times does it need to be said,they are way too qualified to be stupid but well placed to be greedy.
If they can do to those wells to blow gas right out like they did to bring sp down, I am happy chappy.Just don't see it till june to be honest.
Just my opinion
book values are meaningless in valuing O & G Companies like mae....
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