Looking interesting again...funny to believe this hit an intraday of 57.5cents on the back of Artemis hype!
Was reading through their quarterly and see:
- $3.2m cash
- Cash burn is quite low at just $223k last quarter ($517k for last 6 months)
- Hold working interests in 5 permits (WA and Vic)
- Apache farmed in to be operator in the WA-359-P & WA-409-P in which MOG hold 28.5% still. If Apache decide to take it to drill stage after full 3D survey (in either permit), they will be free carried through with and reduced to 14.25% interest.
- The other interesting permits are:
*WA-342-P which has the 'Cornea' structure..which looks to have had 10 drill into it (surely enough to define it?!) and currently looking for farmees. Moby share: 22.375% and;
*VIC/P47 which has the 'Moby' and 'Judith' gasfields. Close to existing infrastructure. They are currently seeking farmees for this one too. Moby share: 35%
Hopefully this is enough to get people interested....have a read of their quarterly.
Oh yeah, forgot to say.....322m shares on issue at 2.6cents gives a market cap of $8.3m....Down over 85% since Artemis drill result!!
Disc: I don't have any.
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