SirjohnnyI wish you guys would read the Mar quarterly before you...

Sirjohnny
I wish you guys would read the Mar quarterly before you post.
MOG has 288mil shares on issue, refer cashflow section
Therefore market cap at 12cps is $34.5mil, not $19.34 mil as you suggested.

I don't expect much buying on FIRB approval alone. I doubt you could find one person on the MEO/MOG/CUE threads that thinks they wont get it.
Therefore, I think approval is largely factored into the sp.

If the FIRB approval is accompanied by a spud update, then we could see some action.
Last update from MEO estimated "late" 2010 which to me implies around Dec 2010, just when the cyclones are starting. That would be disappointing.
If a rig is secured sooner than currently expected, ie Oct or earlier, that would be sp supportive imo.

Picked up a few today at 11 and 11.5, maybe for a short term trade, maybe hold, will see how the markets behave.