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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (43585)	7/27/2011 3:30:01 PM
From: Paul Senior	Respond to of 78469

Market down strongly (Dow -190+), and I am getting fills. Small adds to my losing positions in PSS and CSC. A little more of pipeline co. AGL A little more TYN An few share add to my speculative position of MMR finance.yahoo.com

To: E_K_S who wrote (43585)	7/27/2011 8:30:02 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78469

Thanks for the MPET report. It would be nice if the company put out a new presentation. I'm in a losing position with all my MPET shares; I have a full position (for me), and I'll continue holding, and I won't change that until I know more. Company has an enterprise value (per Yahoo) of $74M dollars. I show among other operations, MPET holds 23K acres in Montana Bakken. I'd sure like to know what comparable land in their area there is going for. $1K/acre, $2K, 3 or more? ===================== ===================== I'm willing to continue to bet on e&p's where the probability of success may be small, but if there is a payoff, the consensus is that it would be very very large. MMR is one, and VQ is another. I added to both positions today. I like these two because they are USA. And as I often say, I want a basket -- my hope and expectation being that if even one pays off, it'll make up for losses that might be sustained by the other or others in the basket. I can find several such e&p opportunities in foreign countries too - in the "stans", and in Africa, and in Venezuela. I won't now put any more money into these. I continue to hold positions in a few, Mart Resources (MAUXF.pk/MMT.v being my largest such. My worry is the probability that the governments will change terms of the agreements with the e&p companies to eventually grab more of the oil should any wells be prolific. And I don't like that it's not possible to quantify "more" in advance: it could be 50% it could be 90-100% that these governments might confiscate.