I would expect we will hear something soon given TG is said to be flying in. Whether they address the share price situation I don't know as he's already said several times they think it should be over a dollar a share. Yes I know, just goes to underscore how little the market thinks of his assessment. If he is out here he will be doing a roadshow of sorts and that will probably bring an update on the Barnhart project and I bet some funds will be keen to hear what he thinks he can get out of Wolfcamp.
Also just regarding my optimism, I have done quite a lot of research into this Permian play and this is why I'm prepared to stick my neck out a little investing in such a dodgy market and in a company with so little current production . If it didn;t have so much cash to move ahead with the program I wouldn't be taking the risk.
There is quite a bit of risk if they stuff these next few wells up , but I am prepared to gamble that on the basis that I've looked at the play as best i can, I've looked at the team they have and I think that TG is better qualified than the previous CEO for this particular play and he has assembled a team he knows and trusts can get the program pushed along. That is just my opinion from what I have found out about their performance in previous roles on the web. The web can be misleading.
I would suggest anyone who is totally over MPO to have a quick squizz at the 2 year chart for AREX. They are pretty much a pure play Wolfcamp company and they are going full steam ahead drilling their ground north of Fiesta.
MPO Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
