I bought into MOG recently as I believe this announcement is long overdue and there is a serious correction about to happen but I have one little question.
Why is the SP of MOG being suppressed like MEO's awaiting the announcement of the major farm-in?
1. MEO have committed to drilling Artemis with no financial burden on MOG.
2. The drilling will not happen any quicker because a major farm's in to the lease.
3. Besides the hype MOG will be in exactly the same position after the farm-in as they are right now awaiting the results of the first drill whether MEO does it or a major.
4. MOG will have exactly the same percentage of Artemis after the farm-in maybe even a possible T/O on the cards by the major to increase their share.
Everyone has to agree the market is a strange beast.
MOG Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held