MGM Energy Corp MGMCF

What is book value -??

[wolfe001]

In terms of due diligence - what will the independent review say MGM is worth?
What is its book value for proven and probable gas reserves, siesmic data, discovery  licenses, and acrerage?
I am thinking its got to be more than 60M or the current 15 cents per share offer

What average industry valuation will be applied?

Still looks pretty cheap to me - why are the other majors not jumping in ?

[SmallBet]

Other majors don't jump in for a simple reason; Clay Riddell personally owns 32% of MGM. Paramount owns (Clay Riddell) 14% of MGM. In short to answer your question, why would other majors jump in? what do they get by obtaining MGM. its positioned in a way, that's not attractive to other Majors. it only attracts small investors like us...

[MasterTiger]

F@rk, I hate get tricked! 

[turkeyboy4]

The last 6 months of MGM operations should be reviewed by independent council on behalf of minority shareholders...seriously minority shareholders have never received any operational update on drilling/flow rates, potential joint venture partners, etc. The filing of significant discovery with National Energy Board was disclosed on this board first...not by MGM...and nothing about the discovery was

[SmallBet]

Extremely well said! as minority holders, what actionable right do we have other than a vote? tell the media, send a letter via a lawyer reminding them of obligations, copy all these valid blogs and send them to MGM in hopes someone reads them... seriously, what can we do?

[turkeyboy4]

Smallbet you're right...media would be the best outlet to begin to draw attention to "perceived impropriety" (POU/MGM did this with a big press piece yesterday...), nominate a law firm to act on behalf of minority shareholders coupled with reporting concerns to IIROC, and provincial securities regulators, Ontario, Alberta and BC would likely be best... It would be to our benefit if

[SiftThruBS]

Well said turkeyboy4.