By my calculations Mosman is offering a 45 % premium over the...

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used moggie

894 Posts.

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03/03/15

10:47

Post #: 14850136
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Originally posted by staymour ↑

I think that is their game plan.

Time the flow test so that "encouraging" snippets of news can be fed to the market, keeping their share price buoyed up by the exciteable punters on AIM.

Reflect on their "discovery" last year which rocketed the price for a while. Finally months later they released the news that flows were non commercial so far. This by the way was hidden down in the depths of a long winded RNS
To date I don!t think they have ever notified the market of what actual flow rates they achieved.

That started a correction in the share price, and it was knocked even lower after their financial report was published highlighting their paucity of funds.

If you read their contingent resources report, the amounts of oil stated are pitifully small.

At the end of the day to my mind what they have to offer, or might have to offer is tiny compared to what we have.

That is why they will pull out all the stops to try to get this takeover offer across the line.

The AIM valuation is crazy in my mind, but the punters there seem to have convinced themselves that their share price is heading into the 50c region.

If Mosman manage to pull that off you would be looking at a company valued at $50m!!!! Based on what???

So would you cave in, give up on your company and its still alive and kicking prospects, plus cash in the bank, for an overvalued share, that can crash back to earth just as quickly as it rises?

I hope, I really do, that our Board can get some news out there, so that our shareholders can clearly see the prospect of a return from our great asset base.

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By my calculations Mosman is offering a 45 % premium over the meo price.
not a bad deal!

also lots of volume, over 3.7 m shares.

that seems to eliminate much of your argument.

MEO Price at posting: 1.3¢ Sentiment: None Disclosure: Not Held
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