cash

I note from the Mar quarterly that estimated June qtr expltn expenditure plus admin will exceed remaining cash.
However, it will be partly funded by a line of credit advance, no doubt from Albers Inc. Exoil have a similar arrangement.
There's also the Braveheart drilling cost dispute that may or may not add ($500k ?)to the liabilities.
Anyway, it confirms to me that there will be a CR this year, and the line of credit will allow MOG to delay the CR until Artemis spud nears, or some other price driver like a Gippsland farmout occurs, imo.

I'd like to see some guidance on the proposed Cornea expenditure.
Will MOG remain at its current 22% stake, or will Albers try to offload more Cornea exposure from his private interests onto MOG. OXX suggested in their quarterly a possible increase in their Cornea stake.

If, in the leadup to Artemis spud, MOG hit the market for say $10mil, eg 50mil shares at 20cps, that should fund MOG's 22% of a Cornea appraisal well plus working capital for CY2010. I think the market would absorb that minor dilution fairly well.

Interested on what others think wrt to funding scenarios and the future plan for Cornea.

I notice OBL have begun to market VicP41 and presumably VicP47 is still being pushed by BAS/MOG etc.
A farmout there could be a nice left field boost in the meantime.