CMV - MGM vs IFRUsing your arguements MGM should be 10x's the price of IFR and it isn't. MGM has a bigger land position, actual reserves and a whack of resources, but it's share price is roughly the same. I think the market heavily discounts both compaines to the absence of a way to get the petroleum to market. Most of the current share value is based on sentiment and potential...who's to say what a fair value is for either company.
I agree that if the MVP is ever announced, IFR's upside is tremendous. It just has to survive until then and not go broke.
Regards,