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Magellan Petroleum Fundamentals Show Value

MPET Annual Report (pages 78-79) shows the Present Value of the PROVED Reserves is $130 million based on $85/BOE. This becomes $138 million at the current $95/BOE 138 divided by 44.6 = $3.09/share for just the Proved Reserves in the U.S. and Australia. With cash, no debt, and seven other secure assets far from the middle east in U.S., Australia, and the U.K. MPET Fundamentals show great near term Potential.

Disclosure: I am long MPET.