maclean-1 next after gilbert-1, page-5

cloudstreet...

The situation with MOGO at the moment is just one of those weird things the market throws at us every now and then.

LOL...amazingly, you can buy MOGO for 8.2c, pay 20c to convert and you get MOG (19c) + MOGOA (10c), representing an arbitrage of .008c for your pocket.

The artbitrage is not as attractive now as it was a few days ago when it was showing something like 3+...the point I am trying to make however is that the options are holding no premium whatsoever, in fact they are in deficit!

Given MOG are currently drilling Gilbert-1A, with Maclean-1 immediately thereafter, I feel this will be a very temporary situation.

Stangely enough, the MOGOA's which are exercisable at 30c (10c more than the MOGO's), are actually trading 2c higher than the MOGO's...the extra 3 months is hardly enough to justify this in my opinion.

It just goes to show how important exiting shareholders are to the daily action...clearly, many of the the MOGO's are held by shareholders with a "temporary" view...no doubt due to the nature of their existance...as such, we have overhead.

Anyway, as is often suggested...especially with oilers...the best time to buy is often when everyone else is selling, even though it can test the nerves a bit.

Cheers!