recoop, Did u know that the Carnarvon basin is the most prolific hydrocarbon basin in Australia's teritorial region?
Have u looked at any maps of this basin which show the large number of gas and oil discoveries that surround WA-360-P and the vast quantities of hydrocarbons contained in them?
Have u noticed that after the most recent seismic obtained by MEO the oil geos believe that Artemis could be an extension of the Pluto/Wheatstone discoveries? (I know there is no certainty here but it adds to the COS)
Did u know that the best place to look for hydrocarbons is in a known hydrocarbon precinct? Have u done any research to help u understand how oil and gas was formed and better understand the decisions that O & G exploration companies make?
Do u accept that after over 100 years of exploration for oil and gas that the geos now have gained a body of knowledge that they usefully employ when selecting drill targets?
Do you really believe that large experienced multi-national oil companies, are prepared to spend $50m to $100m on a well if they genuinely believe that their chances of success are 1 in 8 or 1 in 25? (It would be irrational to conclude that any small unknown explorer can afford the cost or will be selected to be the farminee)
Your use of the term wild cat well shows some ignorance. A wild cat well is one drilled in an area not known for hydrocarbons. It certainly does not apply to Artemis and seems to have come into vogue by those who seem to take pleasure in denigrating Artemis.
Most people who invest in O & G explorers understand the costs and risks involved and don't expect to hit pay dirt with each well. Whilst it is risky it can be very rewarding. But then thats what investing is all about, some have a higher risk profile than others and these people also expect higher rewards. The problem with ur post is that u are way off the mark with the risks that u have subscribed to Artemis. I am comfortable with MEO's assessment of 32% COS.
I'm tiring of reading ill informed conclusions of "investors" who haven't bothered to research the stock. Have u actually done any research on this to arrive at ur amazing conclusions,have u just used ur gut feeling or are u simply echoing the comments of other ill informed posters? Clearly with ur scepticism and theories of the company's disingenuine COS assessment, any company with an interest in Artemis is not a stock for u.
ANZ
MOG Price at posting:
22.8¢ Sentiment: Hold Disclosure: Held
