i'm back in this morning, but only with a small parcel.
this is still a very high risk stock. if something goes wrong with the agreement with the drilling partner, wouldn't be surprised to see this tank back to where it was a few days ago (people start doubting the validity of MEO's claims, short termers jumping ship etc).. and although MOG might get more of the lease, it would be a long road to see this price again
in saying that, if the announcement does come off as we all hope, imo this will rocket..
the other thing that gives me a bit of confidence is that albers is only getting 120mil shares.. he's gonna want to be doing the cap raising at prices a LOT higher than 30-odd cents, otherwise his holding gets diluted way too much.
in my experience, these sort of guys NEVER give up control of the company. they use public companies as a vehicle to serve their own interests.. however, this means for us ST holders, there might be very good gains to be made.
as a LT investment i wouldn't touch this. might come off, might not.. add to that the risk of someone like albers being involved and i don't like the smell of it.
hence i've only taken a small position
MOG Price at posting:
28.8¢ Sentiment: ST Buy Disclosure: Held
