Yes I took some profits from WSA when it was stil high and lowered my holdings by 30% and invested this money in both BOW and MPO as I thought CSM would be one of those no brainers in the future.
Ofcourse they both fell hard like everything else in the sell down but have come back from their lows and attracting plenty of interest as the industry is still alive and kicking.
MPO is one of those companies who has a tremendous future ahead of it and now has the cash to make it all happen without having to go back to the markets for more finances.
And even if one of their projects is going to fail or is not going to deliver as good as we would like , this company is on the way of tremendous growth.
Canada is probably the number 1 project in added value with South Africa and the Queensland acreage following.
So far the results from neigbouring tenements holders in Canada is reason for us to stay positive that MPO is sitting on a good resource but ofcourse that still needs to be proven up.
The Queensland assets are still being worked over by MPO who believes that with their new horizontal drilling will unlock higher flow rates, that will prove doomsdayers wrong.
I like the technology and would not be suprised that MPO is going to be a winner in this regard.
South Africa is another play and so far is also looking like it could be a valuable producing asset.
The beauty about MPO is that they have now plenty of cash in the bank and more then one serious projects , which each one of them become a company maker in its own right.
And if it was not for todays nervous market we would have a share price attached to this company much higher then the lousy 80 cts today.
But I can wait and think that MPO will be a winner given time.
And yes EL , iam still in AGO (bought some more under $1) still have my EQN and PNA (grrr).
Just waiting now for those stimilus packages gaining speed and being implemented....lol
jojo
MPO Price at posting:
79.3¢ Sentiment: LT Buy Disclosure: Held
