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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (39978)	11/16/2010 1:23:40 AM
From: Paul Senior	Read Replies (3) of 78462

EKS. I've added to my position in MPET recently, and may add more. I can make a case for it as a value buy based on its assets. Issues: Although Australian-based, they're changing their focus away from being an "energy production company" in Australia into a developer of "strategic reserve positions". And when a company evolves like this, there's always risk. Significantly, the company needs a cash infusion through debt or equity to pay for its recent Evans Shoal nat gas field acquisition (off north shore Australia). So maybe stock dilution is forthcoming and with that, a drop in stock price. I'm attracted to this stock for its Montana holdings, and because I can see some indication that the stock sells below fair value. I find it interesting that the company of all things holds drilling rights to some shale prospects in England (south of London). Their partner is currently drilling one well there now I believe. (Previous wells have been abandoned.) biz.yahoo.com magellanpetroleum.com

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