""MOG is cheap, but no cash means it will be raising and diluting a lot after Artemis#1. (Needs $18millions for Artemis #2 & #3) $18 million is a big dilution of its current market cap which is ~$50milliion. 1/3 the market cap of MEO is not a big enough discount""
LCCE, couple of points
MOG "current" MC at 10cps x 288mil shares is $28.8mil, nowhere near the ~$50mil you suggested. MEO's free carried followup wells are contingent upon a successful discovery at A1, not a given. If A1 is successful, MOG wont be raising capital at 10cps to fund further wells, more like at $1.00+ per share.
MEO Price at posting:
30.5¢ Sentiment: None Disclosure: Not Held
