The following are extracts from MOG's ann. of 4 May 2011 regarding the Zebries 3D seismic survey that Apache has undertaken across exploration permits WA-409-P and WA-359-P:-
"The aim of the survey is to define several new, potentially drillable, leads and prospects in each of the permits"
"The acquisition phase of the Zeebries 3D survey commenced in early December 2010 and has now been completed. Processing, mapping and interpretation of the survey data is expected to take approximately four months"
Four months have passed since the ann. so the decision by Apache as to whether it will exercise it's option to drill a well in either permit could be expected at any time. This will be a near term catalyst on the share price so any new ann. from MOG from here on in will be anxiuosly read.
ANZ
MOG Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
