FWIW, have owned MSSN for about nine months now. Became aware of the company after doing some work with people from Forest Oil. Some of the people at MSSN were previously at Forest.
Obviously, I've done very well with MSSN, and continue to hold. I'm comfortable with current management, and questions that I've directed to IR have been responded to within 24 hours, either by phone or e-mail.
For those considering MSSN, would advise that you review the news releases, especially the debt downgrade that was issued about four months ago. It sheds considerable light on where the company stands. The terms of their current financing arrangement are rather onerous, to put it politely. In defense of management, if they hadn't been able to get the financing, odds are the company wouldn't be here today. They're well aware of the need to amend the debt terms, and I'm optimistic that we'll be hearing positive news on this front in the near future (3 - 6 months.) A lot will depend upon how ng prices do.
IMHO, this isn't a stock for widows & orphans. At this juncture, it's still speculative. The YAHOO! thread has a considerable amount of info available, although you'll have to filter out the "pump & dumpers." Also try www.edgar.com, and the Mission Petroleum website. |
