* MOG - Acquisition of 15% of WA-360-P (“ARTEMIS”) and 50% OF WA-409-P. Consideration = 120,000,000 ord shares escroed for 12 months. Implies EG Albers and related parties will control somewhere around 50-60% of the expanded issued capital of MOG if this deal get approved.
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Here is a small extract from a 2006 article.
LNG push fuels Darwin's hopes | National News | News.com.au By Rick Wilkinson The AustralianS September 23, 2006 12:00am
THERE'S a growing sense of excitement in Darwin as the petroleum industry moves into a new wave of exploration and appraisal of gas prospects in the Timor Sea.
Australia's most northern city may soon rival the north-west of Western Australia as an important hub in the supply of gas for export and domestic use.
...
But surprisingly the companies that hold the most Timor Sea acreage are a group of seven "dark horses" belonging to the stable of Melbourne-based entrepreneur Geoff Albers. Between them, these companies - Auralandia, Natural Gas Corp, Australian Oil & Gas Corp, National Oil & Gas, Australian Natural Gas and Nations Natural Gas - hold 100 per cent of eight permits.
Five of these lie in the eastern Timor Sea and occupy strategic positions in and around the acreage and existing gas discoveries held by all the major operators north and north-east of Darwin. The Albers Group intends to run preliminary surveys over the areas.The common goal for each player in the eastern Timor Sea is to prove up sufficient accessible gas reserves to support development projects that could come on stream in a 2012-2015 timeframe.
etc
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It is only a guess, but with Geoff's deep understanding of the Timor Sea and NW shelf area, his understanding MEO and CUE, the freeing up of his time by resigning from VUE as a director, it seems like he may has selected MOG as his future growth ASX listed vehicle.
IT is going to be interesting to watch how MOG continues to evelove. Seems to be well worth keeping on your watch list.
MOG Price at posting:
26.2¢ Sentiment: LT Buy Disclosure: Held