Mapan Energy Ltd. V.MPG

reached support level??

[MartinLV]

ummmm....I don'y think there is any such thing. It has already gone from 2.52 to under 1.40
Personally, I am waiting for 80cents and it appears I may not have a long wait.
The problem then is that the market cap will be halved and they may very well do a rights issue which will dilute the shares etc.
Followed it closely for several months now and seems like a possible value play but I don't want to get into the value 'trap either".

[Nodlonian]

This post has been removed in accordance with Community Policy

[MartinLV]

And I am the first to admit my knowledge might well be a lot less than yours. It is just that I have heard the phrase "support level' on BNN (which I ceased to watch) for so long and it seems so utterly meaningless. The only support is what someone is willing to pay for the shares at that moment. I don't know what First Energy was up to but most of the oil and gas sector has been

[TyJac1]

I say the price decline is caused by the production curtail, followed by no news.

[Natgasbull1]

Right now everything is down. Mapan paid $132 million for their gas producing asset and now it is valued at $100 million by the share price. In reality I don't believe this asset has lost 25% of its value.  The question now is. What is this asset really worth per share? I imagine if they tried they could sell it at a 15% discount and we would still walk away with some cash. This is a