re: Ann: MEO: Acquires additional 5% equity i... In my mind no...

re: Ann: MEO: Acquires additional 5% equity i... In my mind no way a CR would have or will get up pre spud or post spud or under a spud without Artermis One success.

If we look back to the CR for the acquisition of the Artemis permit, and exposure to Braveheart and Cornea, how many of the shares issued were bought by Albers because no one else wanted them?

Secondly, if we expect Artemis One to spud September then this leaves only two and a bit months to do a CR, seems cutting it a little fine. Presumably a sophisticated investor only raising would not have met with much success. Im sure these options would have been sounded out. Seriously, how many of us would have bought shares at even say 7cents? Do we really expect, in the current risk environment, for MOG to go vertical pre spud?

So this to me looks like the only move open to Management. Cash in now USD7m on a prospect that gives MOG life if Artemis One is a duster. We did get an ASX query about our cash balance, with our lifeline being a facility granted by Albers. No need to do a CR pre spud. Funded through Artemis Two (i.e. 10% of say USD 50m).

I would much rather have exposure to Artemis One and Artemis Two (do we really expect Petrobras, a MAJOR, to stop at one with the commitments in place already?)than keeping a larger proportionate share of a notional amount.

At these prices, even a 5% exposure is still excellent value.

And surely surely they wont use this cash on Cornea?