People are waiting for results before jumping in. Good results might hit anywhere from 50 cents to $1, bad results might hit 8 cents. in my opinion only. Hence could be risking more than half your money in order to double or quadrupel it. I think a lot, a very lot of people are watching, and waiting.
I took the jump and got in, because I know I will not be fast enough to buy on the day. If the well is dry and I lose, then I can offset against gains elsewhere.
Odds are slightly in favour of a strike as opposed to a miss.
I hold, as it is not every day, or every year, or even every decade you get a chance to get into the start of a drilling campaign in the Bass Strait. 60% of all oil produced in Australia came from here.
Regards,
TDF
MOG Price at posting:
0.0¢ Sentiment: None Disclosure: Held
