don't read if you have a weak stomach, page-8

Malay, in all my reading of all the companies Range, Apache, RFE and the list goes on, ML is one of the most economic plays in the US. I do not quote what price I think this could get to, however I think it should be higher than where it is.

Why do I like it?; 1) Strategic acreage in OK (surrounded by Range acreage) 2) a clearly defined strategy for their drilling which is planned to optimse reserves (upside to reserves should most likely be comming given they now will have almost 9 - 13 wells producing with more in their various stages, compared to when the first report was compiled together) 3) they are fully funded now via their raising 4) production is increasing every single month and this is visable due to their strategy 5) kansas acreage is not really a large contributor to any valuation out there at present so there is potentially some upside from this also.

The risks I see to this stock are primarily macro risks and execution risks. On the macro side of things, I see sentiment out there as being fairly bullish, however we all know how quickly that can change. On execution risk, well this is in managements hands and to date they have executed things very well, and their success rate has been great so I am happy to back them.

There are many ways you can value these companies, and on every way I see it the value of this company should be higher, but at this stage the market is telling us "not yet"

Just my two bobs worth and all im my own opinion. DYOR