With the rig likely to reach its target by early tomorrow and spud announcement possibly before market open on thursday, I thought it would be looking at the likely SP performance of MOG were Artemis 1 to hit its targets.
A 12tcf contingent resource would probably be valued at around 40c/GJ initially. MOGs 10% would be 480m or $1.50 per share. Given the suggestion that we could reach terminal depth in about 16 days from spud then surely MOG has to have the best ST multi bagger potential on the market. And all in time for christmas!
Even on a risked valuation, with downside SP of zero and CoS at 32% (Ex Exxon Mobil geos seem to be bullish that it should be higher), still gives a risked valuation of about 50c. So no reason for this not to rise hard from here, imho.
Any thoughts?
MOG Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
