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Departing last hurrah., page-53

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saltocan

3,790 Posts.

08/01/15

05:34

Post #: 14551975
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Originally posted by saltocan ↑

Hi Used Moggie..

Mr Google is a great source of information...

Point..4
Mosman has limited success in New Zealand with three wells but none commercial..they are planning a multi well exploration program in 2015 looking at deeper wells that they believe may hold around 300bo oil....

a poster said they have $7million in the bank...not enought for there NZ drill program...
They need Meo cash of around $9million..?

They also have crappy green field sites in Oz but no plans to drill anytime soon..they have nothing else but hot air..and a collapsing share price.

Summary.
There priorty is to fund the 2015 NZ drill program...with Meo/Mosman Cash...
Obtained on a 20 to 1 basis......great if U can get it.

Point 5.
In 12 mths Meo has cash commitements of around $20million which are not funded...plus in 2015 have exposure to 20% of the 454p drill...Origin has capped its exposure and over runs are not funded....Meo are trying to farm
out some more equity ..but no news yet..

As stated based on logice in point 4 Mosman has a need to fund there NZ drills in 2015 and has no cash to do anything else..
Meo provides $9million in cash plus many valuable assets already discussed but no funds to drill anything or progress anything without a sale or farmout....

Summary.point 5..
The possible buyers are selected by Logic and benefit to them...ie..Eni has the greatest benifit for
Tasie Shoal offer it to them for a couple of million and its gone....origin same with 454p if Ur priorty is the NZ drill program...
Meo and Mosman cannot fund meos commitements in 12 mths nor can mosman fund there NZ multi well drilling program in 2015 and get them into production on $7million.

Logic says U take Meo cash on a cheap 20 to 1 basis and canabilise the left overs...for what U can get...

I hope this helps...but if U ask Mr Google he can tell U more..
Dyor

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Fat fingers...ment to type up to 300million barrels of oil.
Dyor

MEO Price at posting: 1.9¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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