Heads up on MRP.V. Long running story maybe coming to a conclusion?
Mkt cap $35.46m
Price has been pretty steady last few months as we wait for an updated NI51-101 from the re-entry of TSB-1 well late in 2011. The re-entry identified considerably higher net pay (+300%) over previous Shell logs for the marginal Tom Shot Bank field (TSB-1) and this is to be incorporated into the updated NI51, with an expected OIP uplift. The company also has been the recipient of several unsolicited bids and expressions of interest, as yet undisclosed to the market. Afren just completed a very successful drill on the EBOK block, next to the Tom Shot Bank field. MIRA management is partly ex MART. Company insiders have also been loading up the truck for months.
I received an email from the CEO yesterday, news looks to be on the horizon and i expect some uplift in the SP as a result of increased resources expected in the NI51 and from any subsequent disclosure of any approaches regarding sale of the company:
DYOR, as we know price movements are not so easy to predict in this market, but i feel a potential opportunity exists here for a quick 30- 50% rise from such a low mkt cap. Read the company NR/presentations for more basic information. A good play, but high risk imo.
Thank you very much for your email.
The updated report has been a very long process but I know it has been a very good one. The January timeline we gave in a press release at the end of the year was misinformed and that date was never discussed internally. However, I am pleased to report we are in the final stages and plan to make some press in the coming days.
Operations have continued as usual and we are well into the planning of TSB3. You are correct in assuming there has been considerable interest in our company since our announcement of engaging First Energy as our advisor . We shall see these become formal once the report is finalized.
Thanks for your support.
Chief Executive Officer
Mira Resources Corp.
From: Mark CrookSent: Tuesday, June 26, 2012 6:34 AM
To: [email protected]
Subject: Business Update
I am a long term holder of Mira Resources stock. I appreciate you are busy but would you please be able to offer any insights regarding an update to the company’s business?
-Updated NI51-101, cited as January, obviously I am aware of the report has been held up, but is completion expected any time soon please?
-with reference to the NI51-101, have we been progressing any other operational elements of the development of TSB field please? I am concerned we have lost and continue to lose considerable time (+6 months) waiting for the updated report to be issued, when we could be looking to TSB-3 and further drilling.
-There have been several unsolicited expressions of interest in the company (as pre Sedar Management Discussions). Are there any plans for these details be communicated to the owners of the company at a point in time please?
I hold and will continue to do so (I intend holding until either production or sale), but I am finding considerable frustration with the lack of news flow at the moment and feel that the general excellent support shown to MRP in the face of a highly volatile market is now just starting to ebb away.
DYOR, with kind regards.