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Mira Resources Corp V.MRP



TSXV:MRP - Post by User

Comment by Mlachakeon May 03, 2012 11:28pm
187 Views
Post# 19869977

RE: RE: RE: RE: RE: RE: MRP Money will come and ge

RE: RE: RE: RE: RE: RE: MRP Money will come and ge

Photoman, you need to compare apples to apples, I mean compare Mira to its neigbours and not AOI. Have you seen the size of the blocks that AOI has 50% claims to and the success rate of their partners Tullow? These guys have taken prime blocks in Kenya and Ethiopia and then partnered with what is probably the best team of geologists in business today, Tullow. But enough of AOI here. I just wanted to answer your question. Back to what matters here, I must say that it seems to me that Mira's management is leaning on taking the money and moving on. First, they could have issued a PP  and built the pipeline and produced with a damaged reservior if they wanted of even got a loan for the same. The thing is that Skin damage only inhibits how much you produce and does not create additional damage with the new zones we can produce at test rate. Once you have some cashflow you can then go back to the bank get more money and decide whether to stimulate TSB 1 or to Drill 3. But this guys choose to wait for the report. I was also surpised to hear that they dont seem to be interested in the new fields coming up in Nigeria as bidders but saw them as a way to get suitors? thats different from what they said last year. And hence my conclusion that they want to sell.But if they think we can make good money quick and they come out right, I will be game. it could be that the team doing the report has decided to do alot more field geology than Mira thought necessary, or that they backlogged or maybe even stopped because Mira could not make payments in time. All I know is that insiders were increasing their positions upto about 1 1/2 months ago and also conveted loans for options. No venture capitalist puts good money after bad and thats what Jonathan More is, a venture capitalist. Lets see what the end of the month brings, GL.

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