BillT5, i think u make some good points.in a post the other day...

BillT5, i think u make some good points.
in a post the other day I mentioned some reasons why I think MPO sp is undervalued. 9one of which was income producing)

but your post prompted me to comment that MPO is a rare breed on the ASX, simply because of its diversity of risk.
its geographic risk - it operates in Sth Africa, Canada, US and Aust. The US market is jumping crazy to get domestically produced oil and gas.
Canada is banking on development of shale oil/gas.
Aust is quickly trying to commercialise its CSG -> LNG.

Product risk is diverse- we have CSG in Aus, shale oil in US, and shale gas/oil prospects in Canada.

there seems to me to be a market for each of those products in each of those markets.

yep I think the IPO is simply a way to monetise those assets without diluting s/h with a CR.
No doubt MPO needs cash to develop the US and Canadian assets, plus develop the Qld CSG assets.

PS - I still think a very logical move would be for MPO to consolidate its QLD assets (principally its Mungi assets) with WCL.
that could be in the form of cash from WCL, or scrip, or a combination of both. a combination of cash to MPO, plus shares in WCL which would be distributed pro-rata to MPo s/h. Everyone wins.
Because without a doubt, a combined Mungi/Meridian operation would be a hell of a lot more valuable than seperate operations !!!

(pps - and don't anyone whinge that WCL sp is so low, because we all are still frustrated too - MPO is low and WCL is low.)
a combination of MPO reserves, WCL reserves and Mitsui reserves, would be probably enough to sign up for a GSA of some description !! so THAt would light a fire under the SP!)

cheers