Mira Resources Corp V.MRP

Yes, but what is Mira worth if we look at commparables?

[KidKorsakoff]

Has anyone seen a recent valuation table for Mira and it's peers? I found two junior comparables as follows: 1) Oracle Energy. Nigerian focus , no oil assets. Value $7M (3X Mira). Solid new international E&P operation team with a proven history of developing international O&G assets. 2) Wilton International. Nigerian and African focus. no real oil assets but rockstar board and CEO (proven growing deals over $1B). Market cap $20M. 3) Mart. Onshore Nigeria focus and may move offshore. Solid management. Assets in active production. Market cap $520M. 4) Mira. Offshore (low depth) Nigeria on $100M resources of oil of which maybe $60M+ is net to Mira. Management are finance folk and lack any proven E&P execution and completion capability. Market cap $1.56M. Question #1: If Mira would ramp up it's management team would it be worth that Wilton is worth ($20M or 13 to 14 cents/share)? Question #2: It was rumored that the previous attempt to sell Mira which had a data room yielded an offer in the range of 30 cents. This offer was turned down. Would an offer at this range be possible based on comparables and updated valuations? Thanks

[Bejeezus]

These Rockstars so to speak with no Assets would be envious of Miras position....Frankly I'd rather have an asset worth probably close to a billion @ production than a Rockstar office with Furniture and Big Talk....

[Bejeezus]

2 things might happen...IMO We get a cheap financing....then buyout We get a cheap Financing then a 50% farmout for 2 wells in production. Either way we don't need any management...a monkey could pull this off

[notthor2014]

Bejeezus, this is harsh to say the board has less intelligence than a monkey I could read this with a strong negative racial implication what do you mean with this comment

[Bejeezus]

That means even you could put a deal together.....

[Bejeezus]

I apologize to all the monkeys I have offended with that last post BJ

[Bejeezus]

outside chance but we also could be Merged with a small to mid producer

[KidKorsakoff]

Yes, I agree. A merger with a solid mid-sized producer would be the best option. It would give us liquidity and the good Mira asset would most likely be appropriately valued ( 20 to 35 cents?). I hope the Mira executive team are negotiating with the top candidates since these mid-sized companies would need the time to re-enter the well and do the completion and show production before March 2015 in