be careful with this one...this sort of price action is unsustainable...
The herd have been prodded,thrown common sense to the wind and are motivated by greed...
On the second page of the announcement there is a very important line
"The agreement with Gascorp is subject to and conditional upon:"
it's not a done deal yet
and this:
3. Moby shareholders approving, in general meeting, the farmins to each of Braveheart and Cornea on the terms announced on 18 September 2009 and Moby raising sufficient capital, by placement or otherwise, to fund it’s share of the cost of the planned drilling programme in WA-333-P (the Braveheart well) and in WA-342-P (the Cornea Well);
in other words....CAPITAL RAISING IMMINENT
They'll put this in a trading halt while the price is up and announce a CR and we all know what happens to the SP when it comes out of one of those
You'll wish you had taken profits when the you were able to....
MOG Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
