value of MMR, page-2

IMO, BPH will have more interest in Advent Energy than MMR - the writing is on the wall because of investment limits under the PDF Act. But because MMR has PDF status, the tax man is entitled to none of our capital gains when we sell our shares, so that will bring a lot of interest during the hype in the lead up to the drill and on the hope that something comes up that borehole other than seawater this time around.

As the previous majority shareholder in Advent Energy and with its PDF status, MMR was always miles ahead of BPH in SP. This time I think the lower interest MMR will hold in Advent will level the playing field, with its PDF status being the main attraction to investors. If BPH is sitting at 10c when MMR relists, I think MMR will leave its pre-suspension 0.04c in prehistory and quickly join BPH at around 10c. Grant it that there may be a few hiccups along the way if disgruntled MMR shareholders want to get out. But they would be mad to sell if they look at BPH's recent history and bear in mind that David Breeze is MD of MMR now too - and he wants to see MMR star in the PEP11 story again.

As for which one will take the lead will depend on whether investors find majority ownership of Advent (BPH) or tax free capital gains (MMR) most attractive. I like both. I hope we get a go at buying GBA again soon too... Maybe Advent IPO as well?