To raise $a10m, or circa 5m pound, mog would need to find...

To raise $a10m, or circa 5m pound, mog would need to find investors prepared to buy 100 million new shares at 5 pence each assuming some discount as an incentive to entice investors to part with their cash. no easy task in this market. Mog also don't have any exciting acreage with billion barrel targets...

Instead, mog's new offer is for all of meo in exchange for issuing 75 million new shares. wtf.

so simple arithmetic shows this is a no brainer for the meow board and shareholders to reject.

Mog released a company update last week. they have a lot of well commitments in the near term so a drain on cash is imminent. I will not be surprised to see mog amend its offer again.

Adl