Mira Resources Corp V.MRP

Hello again.

[gje2]

You're welcome. I obviously understand the frustration, so thought I'd share what I could. I'm actually 6/6 with companies missing "deadlines" this year. Anyhow, looking for good times ahead.

 

Best,

[jdchen]

As the 4 million private placement at 20 cents a share hold period is ending on Friday, does this mean that there will be another supply of shares that could hit the market? Second, as there has been no insider buying / selling to my knowledge lately (blackout period before reserve update), and the private placement was completed by insiders, does this mean that they prob wont be selling on friday

[kmilne]

the shares could hit the market if they chose to sell them but if they have any confidence in the report then obviously they won't unless its a personal cash issue.  In any case, it wouldn't take long to absorb 4mm shares. I'm not aware of any blackout being imposed because the report could still be a month off yet.

[jdchen]

Well to clarify, it was 4 million dollars invested at 0.20 cents a share, so it would technically be 20,000,000 shares....which is alot of volume

[investpro2]

MRP is planned for sale shortly, so it would make a great deal of $ sense that the holders will keep their shares and wait for the potential/likely buyout, like the rest of us

[kmilne]

That's a misleading statement Investpro.

[mazinga]

Kmilne, why is it misleading? Co already announced what investpro posted here. Do you have different understanding?

[photoman]

This post has been removed in accordance with Community Policy

[photoman]

This post has been removed in accordance with Community Policy

[kmilne]

Although a sale is likely, they stated in the md&a that a decision on what direction to go will be decided after the report is studied by themselves and First Energy. We can't just automatically assume a sale is a done deal.

[Kamooz]

I believe what they are saying is they want to sell but not at any price. They are keeping the other option if they don't get their price. If i want to sell something of value, i don't want to give it away.

[investpro2]

I respect your viewpoint, I am convinced that MRP is up for sale based on: Managment telling us so in numersous ways including AGM, MD&A, First Energy, my many phone calls to MRP IR and More; I am invested in development/exploration oil plays, this is not the same, as all signs point to sale not development, that can change, it is their choice as you point out, the issue that would

[Kamooz]

I agree with you 100%!

[midtown1]

I worked as an operator in a large oil/gas companies flagship gasplant.  When I asked managers if they  would ever put the plant up for sale.  My response was:  Assets within a company are ALWAYS "Up for  Sale".  What matters is the PRICE.  In other words....there doesn't have to be a for sale sign on the lawn for a property to be up for sale.&

[photoman]

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[CalifDreaming]

$10 for 2P in Nigeria?????  Complete and utter nonsense!  Even North Sea 2P only sells for $6-$8 bbl.    Afren highlights their (mostly) offshore Nigerian buys at less than $2 per 2P.  That's what you should be running your estimates on, not fantasy expectations of $10 bbl...

[investpro2]

Well, here are some facts: INA bought the balance of their field last week for 2P $10.7 per barrel North Seahttps://www.theglobeandmail.com/globe-investor/news-sources/?date=[phone]&archive=ccnm&slug=201206120797927001 Acquire 2P reserves at approximately $6.7/bbl of historical development cost plus an effective acquisition cost of $4.0/bbl; In addition to MRP 2P and 3P valuation, ADD

[mazinga]

Investpro2, thanks for another excellent and informative post. For clarification purpose, can you let the me know how CEO's expectation on the buyout offer came about? It just seems a little unusually for the CEO to quote a numer to an investor informally. thanks in advance.

[wagrill]

I will be happy with .60

[wagrill]

I will be happy with .60

[CalifDreaming]

Your "facts" remind me of the saying, "figures don't lie, but liars can sure figure"   You picked the wrong company to compare. I own a ton of INA (my third largest position) - and know exactly what they bought.   INA paid $10.70 for 2P bbls, all right. But why so expensive?  Perhaps it was that little thing like the just-completed production and sidetrack

[investpro2]

Calif Dreaming, can you provide a link of  the $2 per barrel 2P that you quote regarding Afren acquisitions?

[CalifDreaming]

Go look at Afren's presentations on their website - lots of graphs and comparisons