golfy, I must admit that I have seen other refs. to the "smelly" issue before and am interested to understand others concerns about this. If there is anything specific that concerns u I would be interested to know more. The conditional nature of the agreement between MOG and Gascorp Aust P/L does cause me a little concern and I have therefore taken a smallish position at around 22 cents but it doesn't affect my view of Artemis.
In relation to the COS I believe that the rates of success in the Carnarvon Basin are better than most. I haven't done an exhaustive review but some of the info. I have looked at indicates that the success rate has been better than 1 in 4. For example, in 2008 the APPEA statistics show that of the 23 exploration wells drilled in the Carnarvon Basin, 6 were cased and suspended for production, 4 were completed and 13 were plugged and abandoned. Therefore, it doesn't surprise me to see MEO's COS assessment at 32% for Artemis.
ANZ
MOG Price at posting:
22.8¢ Sentiment: Hold Disclosure: Held
