I bought into MHL when they announced the farmin to drill Fury/Airacobra (I was already following the play through VPE). I saw that change of tack for them as a buy signal.
Having beat the odds in wildcatting, I am looking forward to seeing them produce some oil and gain some cash flow when they complete Fury.
Central Asia especially places like Kyrgyzstan are hard to value from here (witness JPR SP reaction to announcing a 120m gross oil column in Kazakhstan - which was no reaction). When MHL announce some clearer plans here, I might give this area some weight but with other opportunities in Central Australia available, I wonder whether MHL is shifting focus further to home ground.
MHL Price at posting:
0.4¢ Sentiment: None Disclosure: Held
