SharesRfun...MOS have always had plenty of good reserves and good infrastructure. They have in the past lacked cash to be able to extract that value though and the market has punished them as a result. Things are definitely changing though through the latest capital raising and with some early success in the current drilling campaign.
GAS in QLD (especially CSG) is red hot at the moment as interest in Origin and Santos has shown. MOS location for infrastructure and reserves are very valuable and I think it is only a matter of time before it is revalued above 20c. MOS investigating CSM this month as well.
Upcoming Waggamba drilling has 80% success rate which should see another 2-3c on the SP. Watch for Frenuea the well after though. This could be a real company maker and even thouhg it is higher risk, success would see MOS SP over 30c.
Agree with you on the revenue side of things as well. MOS on current production rates and with the increase in oil and LPG prices would mean revenue of around $28m per annum. $23m in cash as well.
Not too many companies around with the level of prod revenue, infrastructure and upside that MOS has.
MOS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
