Bazzard update in STU's preso today, Good Oil Conference
Well due to spud 10-09-08
:5 high quality intra latrobe sand targets
:targeting undiscovered potential oil of 100 million barrels
:secondary top latrobe target
:Amplitude anomaly concordant with structure map
MOG ~82 million shares fully diluted Market Cap ~$7mil at 9cps Equity interest 8.33% free carried Net potential barrels to MOG ~8 million brls. NPV of potential inground resource $20/brl Discovery value net to MOG 8mmbls x $20 = $160mil or $1.95/sh
More realistically , if they prove up only 10mmbls that would be 833kbo net to MOG 833kbo x NPV$20/brl = $16.6mil or 20cps
With 5 target structures and daily drilling rpts it looks like an interesting trading opportunity and/or a reasonable risk/reward punt.
MOG Price at posting:
7.7¢ Sentiment: ST Buy Disclosure: Held
