MRP high Impact Catalysts Had a good read of the recent MD&A MRP on sedar, here are my excerpts for MRP catalysts:
- Impact High: MRP Reserve updates mid May to end May. Confirmation of 1/2/3P Reserves, expectation as MRP has noted are significant increase in reserves;
- First Enegry enagement with suitors: Impact High, once the Reserve Update is received this should set the price for MRP, MRP board appears ready to set in motion further serious discussions. Spoke with MRP IR, informed there were 2 possible suitors who have been doing their own DD on MRP. This should get serious once the Reserve Update is signed.
- Marginal Field Lot Licensing: upcoming Nigerian govt licensing road. Spoke with MRP IR, indicated this only possibly increases interest in MRP because a loser of the licensing round maybe pursue MRP in lieu;
- TSB 3 and 1 Q4 2012 (pasted directly from the MD&A), oil production and cash flow
- Also, there is very significant expansion of the Tom Shank Field with multiple oil layers each in up to at least 4 wells with expectations of over 100 M Barrels of oil in the field or more
- Also I note significant insider involvement ownership of MRP by insiders and Equinox, my point I consider it highly probable that MRP will get sold as there is significant incentive by Equinox and MRP option holders to sell and obtain significant profit in that sale
complete TSB 3/1 in the fourth quarter of 2012
and initiate production and export in the first quarter on 2013.