good post Hendrous.i tend to agree with your views.firstly the...

good post Hendrous.
i tend to agree with your views.

firstly the SP is out of the hands of the Board.
Secondly, remember that if we are suffering with a low SP, SO are THEY ! (the Board that is).

thirdly, they have focussed the coys objectives, from a geographically scattered approach, to a focussed growth on Nth America. MPO has limited funds, and it simply is not big enough to develop disparate fields/permits all over the word.

forthly, they have enunciated their plans and objectives.
they are producing results from Nth America.

5- they clearly have a mid-term plan in place - and that is to focus on nth america - but position MPO to be valued by that market - not Aust market!

6 the Qld assets will be sold, but it does take time to get it over the line. look at price of BOW at 16c/gj 3P- thats way down, and I expect a much lower price for Mungi because the dirt there is not much productive.

imho, once the Qld assets are sold, then MPO is clean (albeit still have SA-but it will go soon also)
so MPO will be a clean N/A US shale oil/gas play.
the N/A market will value it closer to normal N/A metrics.

that will rub off on Aust sp.

cheers