Strategy 
MPX intends to acquire equity holdings in high quality acreage on which it will be able to fully define a drill ready prospect or opportunity within twelve months of acquisition. The exploration strategy is based around the search for, and evaluation of, missed pay. The business plan envisages the initial stage of the Company as one where, although acting as Operator, we will take a small interest alongside a larger partner in a strategic alliance. As more properties are acquired, the second stage of our development will be to participate with a larger equity holding.
UK North Sea
The Company’s initial focus area is the UK North Sea where missed pay offers low risk drilling opportunities, combined with ‘quick’ access to infrastructure. In order to achieve its objectives, MPX is utilising its expertise to identify acreage that can be acquired either through UKCS Licensing Rounds or through farm-ins into existing Licences held by other companies.
The North Sea offers independents the opportunity to achieve high returns on investment at reasonable risk by applying the latest technology and a high level of focus. Initiatives by the UK Government are accelerating the transition of the province from one dominated by the majors to one ruled by independents. The fallow acreage initiative is a key part of this transition by mandating the release of blocks that have been held for long periods without being actively worked.
The areas in the UK of most interest to MPX are the Central and Northern North Sea. Additionally, the team, through its shared experiences, is able to operate effectively in the Southern Gas Basin. Although the Gas Basin is not a province that will have a high percentage of missed pay wells, the team does have the experience to lower risk through the application of seismic technology.
International
The occurrence of missed pay is a phenomenon that knows no boundaries and MPX’s philosophy is to pursue opportunities in missed pay wherever it can, particularly where data is readily available and there are no impediments to entry for a small company. Consequently, in the international arena, MPX has formed a joint venture with a strategic partner who wishes to utilise the Company’s skills. MPX will continue to seek further partners and opportunities in regions of the world where a coincidence of certain rock properties, hydrocarbon and formation water characteristics combined with structural or lithological complexities have made conventional evaluation problematic.