Bazzard well is 8th in the West Triton Rig drilling schedule and they started the 4th well, Seahorse, a few days ago.
STU mentioned in their quarterly report, 29-04-08, that Bazzard is still on schedule for Sept 2008.
This allows 4-5 months to complete the 4 wells preceding Bazzard. Two for 3D Oil and two for Nexus
Their cashburn is pretty low but I suspect there will be a rights issue prior to Bazzard spud. That said, buying ~7-8c seems like a decent punt in anticipation of the sp running to ~12cps pre spud.
MOG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
