Well today we've seen MEO make a strong run and close at a daily high, up over 19%. I think most people out there would agree that this could be a strong indication that an announcement is around the corner regarding the Artemis farm-in deal, which will bring a great deal of attention from the broader market at the introduction of a new Major player to the Australian O&G scene. Subsequently MOG has today followed the lead set by MEO with a more subdued 10% rise.
Given the impending announcement of the Artmeis deal, the release of detailed drilling results of the Cornea drill last month and the current Braveheart drilling program, there is a lot to like here for both those with a ST perspective and those who wish to take a longer term approach. I think the Artemis farm-in announcement will be the catalyst we need to see the market start paying attention and pricing this company more appropriately. Get ready for a big couple of months, I'm really looking forward to where we might be going!
MOG Price at posting:
20.5¢ Sentiment: None Disclosure: Held
