I've been talking to myself about LPL for a while now.Its had a...

I've been talking to myself about LPL for a while now.

Its had a few delays in getting a rig booked but its now got one, a big one. What this means is that the deeper targets will be drilled first. This is exciting. (why you ask) because the deeper targets are the ones with the biggest potential upside to lpl (and opl too for that matter)..

Now I hear you say but look at the chart, its $hite, and yes its been down hill pretty much for the last few months but that has been on low volume and mainly due to lack of activity and a placement that happened recently.

Make no mistake within 3 weeks lpl will comfortably be trading in the 40's currently its value is basically cash only, not even sure there is any value on the 3d seismic that lpl has of the area.

of course now we come to the other problem and thats liquidity. lpl is not as liquid as it could be but if you can get them at the current levels it definetley has at least doublebagger potential. of course if liquidity is a problem the jv partner OPL also provides exposure to any upside that may happen with drilling success.


MC