The thing is Dan, MPO has never been priced anywhere near fair...

The thing is Dan, MPO has never been priced anywhere near fair reserve value . Whichever way you break it down almost all of its projects are not given any value at all .
That is one major reason why two brokers have Buy recommendations on it - it is seriously undervalued for the same commodity in many of the same areas as numerous other gas stocks . It is and has been (since I have followed it) the cheapest entry into gas reserves on the ASX . That is only exaserbated more on a day like this when reserves have increased in a place where infrastructure exists already .