MHL Investor Presentation dated 11 September 2009 (see PAGE 9) stated theoretical SP (discovery value) for Fury-1 Oil, Fury-1 Gas and Airacobra-1 Oil totalled $0.049. (Are we looking at a Ten bagger in the short-term???) ... Not to mention MHL is looking at other near term possibilities ... see below...
16/12/2009 Cape Lambert takes cornerstone stake in MHL
"The company has exciting assets in the prolific Cooper Basin in PEL 115 and is encouraged by the recent new oil discovery in the Fury-1 well, in both the Cretaceous Murta Formation and a new oil sand in the Permian Epsilon Formation. The area surrounding this discovery has enhanced prospectivity for the Joint Venture partners and will lead to near term exploitation opportunities."
Due to the results at Fury-1 and the de-risking of several identified and new emerging prospects, the JV is looking at fast tracking the block and is reviewing either a second Fury well or an additional exploration well subject to rig and equipment availability and JV discussions, said Monitor Energy Managing Director Mr Jon Roestenburg.
MHL Price at posting:
0.5¢ Sentiment: LT Buy Disclosure: Held
