Moggies,I'm curious what holders or watchers think the effect of...

Moggies,

I'm curious what holders or watchers think the effect of Petrobras FIRB approval (Artemis-MEO) may be. I personally think it will be substantial, because despite all the euphoria of the recent farm-in news, there is a good argument to say that little had changed fundamentally as a result of that news.

The "financial heft" of Petrobras and subsequent project will only be felt if there is FIRB approval.
I say if because if we were only talking about "when" then it wouldn't be called FIRB "approval", and it is this question that is creating part of the uncertainty in the conservative investment community .
As I mentioned on the MEO thread, a result should come soon, because FIRB cant have much to do ATM theyve scared everyone else away!

There is also the argument that we had 15% free carried 1st well, before the last ann., and that hasn't changed now. But I think that the certainty of Petrobras buy-in confirmed will have a positive synergistic effect on the outlook of the whole project and therefore MOG SP sentiment.

Others (non-holders) have commented that cash is low, but lets not forget that "cash is a lazy asset", and it is pointless to have it sit there to look pretty (although I wish I had some spare today). I think there are other options rather than a Cap Raising in the near future (debt finance, proposed farm-in VIC P41 by OBL etc).

In summary, the secret for MOG (for me) is the low Market Cap (168,177,593x .115 = 19.34M), and the fact that good news on any front should cause a large SP reaction (refer SeamFeind's recent post for Artemis Potential: # 5265773).

Interested in +ve and -VE view points with reasoning -(not just what you think .but also why! Please...no one-liner assertions!).

Cheers,

John S.