RE: POU investments valued @ over 5/shAnyone following MGM (t.mgx) as it has fallen to $.11 on very bad sentiment on the MVP prospects - despite the Dehn Cho changing their leadership and now wanting to play ball. So I'll rephrase that and the price is more to do w/ natural gas prices and forward looking sentiment. I see strategic reasons for development in view of the Russian bear and its interest in the Arctic. The Beaufort Sea is where a lot of licenses have been sold and that is the body of water that touches the Mackenzie Valley Delta. They do not have to undertake the major drilling that they've done in year's past - although there are definitely some more need for capital over the next few years. At the end of Dec there was something like $70m in the bank though this will be substantially depleted by the end of 08/09 drilling season. With 263 million shares o/s it has a market cap of about $30m, with about $250m raised and spent over the past two years.
This pou investment is being drubbed right now but I wonder if it is a worthy of a spec at this price - or is it going to zero? I don't know but I think it has got to be worth more than $30m petty cash for what they have up there.