MPET

[Melf Elf]

Ichimoku Kinko Hyo chart:

[Terliso]

MPET is my contest pick for the third contest. See the pick list!!! This is going to break out to $4 if the Udacha well comes in anyday now!!

Interesting pick, defenderyou. Applauded.

MPET put in a little "W"-Bottom and made the 2.06 target IN PLAY.  It now has put in a larger "W"-Bottom (drawn at the upper right of the chart), so it's got a better base from which to attack resistance.  Sort-term target depends on whether you use the left or right leg. 

For this base to be good enough to go up against that big top (in red), it looks like it's going to need better volume, and your Udacha well news could be the catalyst.   Good luck with your pick!

Great Analysis Melf Elf.. appalud

[marsgold]

No one is following this stock anymore?

MARS

[calven]

Recent downtrend breakout - LT...

Can someone merge all the threads please.

Im starting to like the technical aspects of MPET again... Higher low and higher high waves with a long term breakout...

almost 700 million in proven reserves but a market cap of 70 million?


Found this also:

1) Cash—Over $25 million
2) Positive Earnings & Cash Flow
3) No Long Term Debt
4) MPET acquired 100% of MGN, increasing shareholder value 9%
5) MPET valued MGN @ $1.90/share during acquisition
6) Only 41.5 million shares- Market Cap of $58 million—NOW $65 MILLION
7) Recent wells "cased and suspended as future producers"—NOW 10 WELLS!
Earnings are increasing –next report due May 15th.
9) 2007 aggressive drilling schedule of 21 wells is on schedule
10) Assets include 1.5 million acres (net) in Australia, United Kingdom & Canada
11) Pipelines, Transportation, & processing infrastructure are in place at most leases
12) Current Low priced gas contracts in Australia expire in 2008 and 2012 after which their Uncontracted gas reserves will command higher prices.
13) United Kingdom (UK)--14 leases average 40% interest with high Oil potential described in an independent published report---2-3 wells to be drilled this year.
14) Stock price was over $4/share in 2005 when one 22% interest well drilled in UK.
15) New Management in last 2 years is making progress.
16) There is no fundamental reason for the decline in stock price—earnings are increasing and drilling is successful and on plan for 2007
17) Manipulation of this small cap undervalued stock prior to a takeover attempt may be going on. (MPET was on the SEC SHO Naked Short List in May 2005)
18) Money Flow shows that Major Accumulation and there have been several recent closes on high of the day on increased volume.
19) Chindia growth bodes well for MPET's Australian Uncontracted Reserves
20) World Instability/Terrorist/Nuclear Dangers to Energy supplies increase the Value of MPET's "Friendly Location" Reserves.
21) Conservative Estimate of Present Value is $8/share
22) Outstanding Reward vs Risk at current $1.50 to $1.65 per share levels
23) Low Capital Gains Taxes when held long term.
24) Australian Dollar Strength
25) "Bare Equity" $3.08/share Valuation Without UK
26) NOP is now proceeding with UK drilling preparation
27) April 4th Press Release was "incredibly bullish" stating "All 10 wells were cased and suspended" and "planning will commence" for drilling in NINE (9) more Oil Fields!

[setravis]

"MPET" Threads have been Merged.......and it was a large number !
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders.                                                      
All history on a stock pick in 1 thread is awesome.                                                       
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock.                                                   
Thank You....and good luck with all your trades....make some $$$    


I will leave you today's closing chart.......

[Terliso]

MPET moving up with the oil. Rounding bottom breakout.