end yr report nothing to get excited about

the only thing things that struck me for the end yr 06 report were ...

1
the fact that the drilling director, sr dingle, resigned before his contract expired lol. engaged 01/08/04 contract to 31/07/07 and resigned 14/08/06. he got fed up waiting for that truck, no doubt. goblin probably borrowed it, converted it and shunted his pineapples around in it lol. now this is not a lot to say about a company when 40 can only find this level of excitement in the accounts. at least we don’t have derivative exposure ! anyway, to me dingle's departure is an important item and anyone going to the agm should ask why he left ?

2
the tariff income b/f from last yr ‘net pull out’ effecting this current period of c +$1.34m would make the accounts look that little bit better this time around.



apart for that there was not much to get 'overjoyed' about. did i say overjoyed ? i must be bonkers ! i am !

the ‘net assets’ of which i take a pinch o salt to the development and exploration values, gives us a figure of around 10 cents a share. enough to give a stable balance sheet a bit o hope into the next full yr to 30/06/07. if mossy cannot find anything good over the next 9 months then the accounts next yr will not be much either.

on balance, mos does have a bit o cash flow and farm outs to enable it to keep it’s head above water. the disapointments should be more or less covered by the cash flow. any nice surprise will help the share price and that of jolly ole mossy as a company.

i note the wages bill is on the increase overall. the holiday fund too ! in line with market tho. not anything to get concerned about. not atm.

we live in hope lol.

now where's tha lottery ticket seller ......