Phillips 66 announced today deals for the Missiissippian Lime. One agreement was for 40.000 bbls/day through the Magellen Pipeline...the second talks of building out its own rail system in the M-Lime. Hang on...we are ready for take-off!!
With resolution of lawsuit and assuming oil price holds in the current range, MPO feels like a solid bet over the next year, just a matter of how much it appreciates. The suit represented 10% of reserves, at least a couple of dollars per share. Seems it should be enough to push it to $10 soon, assuming the market holds.
I agree...just noticed a $14 price target listed which is conservative, in my opinion! Over time, more fund managers will now get involved as the impediment of the lawsuit is behind MPO and valuation comparisons between exploration companies will demonstrate this as heavily under-valued...and positioned for superior growth. The metrics speak from themselves.