AOE gets a big write up in the AFR todayon page 47 - "targeting China and India". Sounds like a another version of our company - just more advanced in the Australian prospects .
Future assured for all CBM players imo, but I don't think there are going to be as many players to invest in ......
Now that capital from holders is going to be harder to come by (due to market correction), MPO management and Bailieus are looking mighty smart for the recent over subscribed placement .
Major value discount in MPO now . Recent Queensland equity increase should not be ignored lightly . A poster at another site recently stated that gas in the west of Australia is being priced at around $6 per thousand cf now . The east of Australia however is where demand into the future is under severe pressure . Apply a $1.80 per mcf inground value to the Bowen Basin 2P reserves as they currently stand (ignoring the fact they are to be drilled within weeks leading to likely reserve increase), and for that lease alone MPO has a valuation of over 31 cents . No China, South Africa, USA, Gloucester, or Clarence Moreton included in that 31 cent plus valuation .
Chase "hot" speccies till your heart is content but ignore real discount value at risk .
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
