My understanding is that the PNG joint Venture owned 30% by MOS has a retention licence for the KIMU gas field, which MOS say is a One Trillion Cubic Foot reserve capable of producing 100 million cuft per day when developed. They keep on talking about surveys etc in relation to development of this asset but no action to date. My view is that asset is not a good fit with MOS and it should be sold. The cash raised could be used to by shares on market in OSH who own the real action in PNG. This would be the best way to make the KIMU investment work for shareholders
MOS Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held