Hi fatkraka,We've been through this a few time already - but...

Hi fatkraka,

We've been through this a few time already - but about 12 months ago (search through my MOG posts) so I thought I'd post a v basic back of the envelope unrisked valuation that ignores and Cornea, Braveheart & Judith:


Assuming 12Tcf recoverable ultimately found at Artemis and valuing GIP @ conservatively 30c/GJ:

MOGs 10% is worth c.$370m or $1.28 per share with 288m shares on issue.

Given the (higher) GCoS ascribed to Artemis by MEO, MOG could claim a risked value for Artemis of 41c per share.

So put another way, one could claim it is trading at about 40% of its risked value at present and could easily put on 50-75% in the lead up to drilling in mid November and afterwards still be considered 'cheap' on a risked valuation basis.