YT wrote"MOG is my prefered exposure to Artemis"Here's a couple...

YT wrote
"MOG is my prefered exposure to Artemis"

Here's a couple of calcs to ponder

MEO will have around AUD76mil cash after June qtr expenses, initial cash payment from PBR, and less the USD7mil payment to MOG
The USD7mil payment for 5% of WA-360-P implies a Fair Market Value(FMV) of USD35mil/AUD41mil for MEO's 25% stake.
Total of cash plus FMV of 25% WA-360-P $117mil or 24.5cps

MOG will have around AUD7mil cash after paying off credit line and less June qtr admin costs.
Fair Market Value of MOG's remaining 10% of WA-360-P is USD14mil/AUD16mil based on the 5% sold for USD7mil
Total of cash plus FMV of 10% WA-360-P is AUD23mil or 8cps

Most of MOG's value is attributed to WA-360-P whereas most of MEO's value is cash

Therefore MEO probably the safer hold in this risk averse market.

Where MOG may shine is in the RISKED value of Artemis whereby MOG has greater potential upside given Artemis value makes up most of its market cap.
This might become evident when drilling nears.

Lastly, if A-1 is a success, then MEO is looking pretty good with the additional cash payment from PBR and free carry on the next two wells.

Recently MOG has tracked MEO sp fairly accurately at a ratio of 3:1. Some lag atm due to MOG's illiquidty compared to MEO.

Please, dont say what about Judith, Cornea, Heron, Tassie Shoals etc. These prospects are worth nothing in a risk averse market unless someone farms in and there is near term activity.