re: junior oilers 24/25 may-cue/mos secret reveale
hi b2 and jocam,
actually I think CUE might better be linked with MOS, not on the basis of recent price action but rather on their shared interest in the Kimu gasfield in PNG. Estimated by operator OSH to contain in excess of 1 TRILLION cu ft of recoverable gas (that's 1000 billion, OK), CUE has 10.7% and MOS 28.6% (OSH has nearly 45% and a PNG co. the rest).
This asset has been ignored by the market in recent years because the PNG pipeline looked like a dead duck, well check out the transcript of the ABC PM programme posted by Fig_Jam on 24/05 at the start of the OSH thread headed "png/australia gas pipeline", looks like a very positive announcement MIGHT be just days away.
Dunno what value to put on this gas right now, production is surely years away at the earliest but with CUE's share being >107 billion cu ft and MOS's >285 billion, even 10c per thousand cu ft throws up >$11m for CUE and >$28m for MOS.
Compare that with their mkt caps of $17m for CUE (334m shares at 5c each) and $46m-$49m for MOS (343m shares ,last sale 13c but I'm assuming they'll open at 13.5c, plus 20m unlisted employee ctg shares, suit yourself what allowance if any to make for them).
Not many CUE on offer at close Friday, just 69k at .05 and 80k at .052, but MOS might be the better play rather than chasing CUE, the leverage is very similar in terms of the mkt caps. I guess MOS hasn't moved because of selling prompted by the recent ann. of the 3 month delay in much of their drilling programme after the tragic fire which put the Century 1 rig which they had contracted to use out of action.
BTW belated thanks Jocam for your weekly reports, much appreciated.
I hold CUE, MOS, PSA, HDR, AYOO, ARQ, OXR and others too numerous to mention (God, I even have some WONOB!)
