RE: RE: MRP Buy Out ! The MRP price has shown imo great resiliance in the past 3 months, with reference to the majority of junior exploration oil and resource stocks. I am also unhappy about the wait for the updated NI51, but i do not believe there is anything underhand going on here. The NRs were very clear at the time of re-entry. The logs showed the potential that the significant increase in gross oil encountered over the previous interpretation should also significantly increase Mira's resource assessment. They always said should and not will, so there are no guarantees here from Management. We also have had a number of unsolicited expressions of interest in the field, this certainly does not mean a firm offer will be made either, but it all adds a little bit more spice to proceedings.
I have held here over 8 months now and averaged down heavily on the TSB-1 drop after what i interpreted as an excellent re-entry result, so am sitting on a decent PP. I do though expect an increase in resources, a buy out or production to come and certainly further gains from here in the med- long term. If we get a good upgrade i expect to see quite a bit of selling and potentially a short term blip in the SP i suppose, as the shorter termers exit for pastures new. But i look to Mart as a template to potential long term development and a couple of bucks as a long term target on field production seems very reasonable to me. With the amount of 'dog' resource stocks on the venture, Mira is a good opportunity imo. Light sweet crude confirmed, expected resource upgrades to come, expressions of interest in the company from 3rd parties, all for a peanuts $42m mkt cap.
DYOR..