risk? vs reward?, page-6

If you bought MOG on Friday for 9.5cps you paid proportionally less than PBR did for their stake in the first well.

ie

MC of MOG at 9.5cps x 288mil shares = $27mil

PBR paying USD80mil up to and including the first well for 50% of permit implies 100% of permit fair market value is USD160mil, prior to any exploration success.

USD160mil x MOG's free carried 15% = USD24mil
At FX 0.85 that equates to AUD28mil fair market value of MOG's stake.

Anyway, the above calcs are just an observation. MOG sp could go lower if markets get worse.
However, while everyone runs around atm like chooks with their heads cutoff, I think those buying at current levels will have a big smile on there face as Artemis spud approaches in 4th qtr 2010.