cannot believe sp, page-59

From my rough calc. risked NPV of MOG drill should be
22c

plus 5c cash backing of MOG

plus share in other leases say 2-4c and containing 10% share in drill lease (2-3c)

So the SP should be...

22+5+3+2.5 = 32.5c/share (Pre drill - now, it ain't)

5+3+2.5 = 10.5c (post drill - absolutely nothing in the well, totally dry)


Well success

I would think this would half the risk of the field and increase the MOG brand (which I won't factor in for all leases)

22*2+5+3 = 52c/share (successful drill)

Just numbers to justify why I won't sell my shares and follow the herd, hoping for success, as the risk is worth it ( for myself)