how many days from spud, page-4

I maintain my call of mid to high teens sp pre A#1 initial results.

MOG have no reserves and their only underlying asset is cash backing of ~1.5cps.

I'd expect a fall to around 3-4cps if A#1 disappoints, ie cash backing plus some speculative value for the WA and Vic permits. Similar MC to where BAS sits atm.

Given the downside, I cant see the market pushing the sp above 20c just because A#1 spuds. We would need positive logging data for that imo.