# MOG - Moby Oil and Gas



## YOUNG_TRADER (11 March 2008)

Hey guys

After a 3year silence in the Gippsland basin Apache have spud a huge well for MOG and are free carrying them through drilling,

*The target is Coelacanth which is estimated to have a mean 30 -40 M bls of Oil recoverable*

*@ $20 bl = $600m - $800m EV

Net to MOG = $100m -$133m = 90c - $1.20

The upside is 75M bls which would be worth $3 to MOG*

So I see the stock potentially running once the mkt is aware of the upside potential



Its an all or nothing play, but Apache have committed to dril 10 wells in the basin which should bring it to life, also MOG have another 2 free carried farmed out wells so there should be plenty of activity for it


*Make no mistake its a speccy!!!!*


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## JTLP (11 March 2008)

Hi YT,

Love your work son. Always good research.

Could you fill me in on the following:

Cash on Hand
Other prospects/projects
Past Projects
Shares On Issue

Thanks million dollar baby


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## YOUNG_TRADER (11 March 2008)

JTLP I'll do a proper write up tonight

But for now,

Thye don't have much cash on hand, but then again they don't need it as they are fully carried for 3 wells,

EACH WELL OFFERS HUGE $1-$3 Upside in the success case and since the cost to MOG is $0 well you do the math,

They hold a very strong position in the Gippsland basin and any success for Apache will make MOG's tennements appear more attractive for farm in's


The company has about 80m shares on issue, so at an SP of 14c is carrying a *mkt cap of $11.2m*


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## JTLP (11 March 2008)

Thanks YT...appreciate it!

Maybe tonight you can also answer this for me:

If the wells are dusters, what will be the affect on MOG both SP wise and projects wise?

If they are being free-carried through this and have nothing else on the horizon, whats keeping them afloat? LOL


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## YOUNG_TRADER (12 March 2008)

Hey JTLP,

Sorry for the delay, research coming soon I promise but for now

MOG is not a 1 shot wonder it has farmed out 2 permits, 1 to Apache 1 to Stuart Petroluem and should be free carried for the drilling of 4 very high impact ( $1-$3 value to MOG) wells,

It also has a host of other permits in the Gippsland basin where it has done extensive siesmic and reprocessing/interpreation work and is looking for further farmout opportunities,

The depth of its permits and technical data that MOG posses over them easily justifies a mkt cap of $20m = 25c


Sell all the images I have posted it clear shows how prolific the areas around MOG's permits are

Also of note is the fact that a single dicovery like the kind Nexus made, transforms these juniour oilers into what NXS is today a $500m oil MidCap


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## YOUNG_TRADER (12 March 2008)

There wasn't enough room to post all the permits in 1 post so here are the balance,


The key to notice is the amount of Oil and Gas fields scattered all around MOG's permits,

Also check NXS's history, you'll see how just one discovery changed their life, its because these target are literally company making


This last image is MOG's offshore Otway permits

p.s. whats really amusing is that MOG has gone  un-noticed meanwhil BAS its brother company seems to be drawing support even though BAS has twice as many shares and its target is smaller than MOG's not to mention the fact that BAS only has 1 farm in and MOG has 2 (ie Stuart as well)

*So MOG, half the shares, hlaf the mkt cap, target is larger and twice as many farmouts, yet its current mkt cap is half that of the well supported BAS* go figure


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## Sean K (13 March 2008)

Not a hell a lot of interest considering the upside. I suppose the downside is that both programs hit mud. Still, in my twisted logic the sp can only go down 100% if it completely fails but if they have success then the RR could be quite handy. 

What's the % of success attributed to something like this?


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## YOUNG_TRADER (13 March 2008)

kennas said:


> Not a hell a lot of interest considering the upside. I suppose the downside is that both programs hit mud. Still, in my twisted logic the sp can only go down 100% if it completely fails but if they have success then the RR could be quite handy.




lol tell that to BAS, another 250k bought at 14.5c-15c avg and they have 30m shares being issued at 12.5c

MOG offers alot more potential given its tiny mkt cap,

In this mkt everyone likes to be bearish and look at the "empty glass" view,

I am surprised no one here looks at the possibility of the full glass,

You all keep asking how low can MOG go? well currently its mkt cap is about $10m, it costs about $5m-$10m to drill these deep wells in the Gippsland Basin,

To drill these wells, you need to have done extensive siesmic acquisitions and reprocessing which can take up to 18months and about $5m

As I have shown, MOG have a bunch of permits yet to be farmed out which have alot of technical data over them, 

So whats the downside to MOG? Well *I'd say their a definate takeover at $5m of net cost, as it would cost far more than this in money and most importantly time to acquire the assets and technical data they have *

They have multiple ready to drill prospects, Apache have committed over $100m in drilling to the basin over the next 12 months

*So $5m cost + $2m cash = $7m offer = 8.7c good takeover value here*

And then whats the upside again? ? ? ?


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## YOUNG_TRADER (13 March 2008)

I should add that *as a % of my portfolio MOG only makes up like 5%*

But it is these high risk high reward plays that can sometimes pay off handsomely,


Also of interest to me is the schedule Apache chose for its drilling,

If you take a look at the attached image you can see that in order of well the common sense way would be 

*1. Wasbi - 2. Speke - 3. Coelacanth*

Instead they have gone

*1. Wasbi - 2. Coelacanth - 3. Speke *

ie they are passing Speke and dragging the rig to MOG's Coelacanth well before Speke Sth, why I wonder?


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## JTLP (13 March 2008)

YT you make some interesting points...

How's the write up going for me 

Do it for me Mr Trump :


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## YOUNG_TRADER (14 March 2008)

Well MOG have just announced a second update to the well, its just under 1000m's deep and they are running wire line logs,

I don't expect any oil shows at this shallow level but you never know,

Its the 2500+ level I'm interested in

p.s. here you go JTLP, better late than never 


*MOG*​
*
Mkt Structure*
*
Shares*
80m 
27m 30c 30/6/08 MOGOA options

* Cash $1.8m * 
MOG don't need much cash as they are free carried for the drilling of 3 wells and will continue to farm out their permits on such a basis, ie dilute down to a % whereby they are free carried


Mkt Cap @13c = $10.4m Current



*
Projects**
Vic P45**  Oil, 16.67% Free Carried Interest, Gippsland Basin Offshore VIC *

Multiple targets for drilling, Apache are going to free carrry MOG for 2 wells on this permit,

The first well which has just spudded is Coelacanth it has a target ranging from as low as 6M bls to as much as 91M bls, with a mean of  *32Mbls- 43Mbls*

Now in the event of a success, Oil companies used to trade on an EV of $20bl, however given the surging oil price perhaps $25bl is now more appropriate to reflect the EV value, using the mean values and MOG's 16.67% interest and 80m shares on issue we get the following

*32M bls x $25 x 16.67% = $134M  = $1.67c value to MOG*

*43M bls x $25 x 16.67% = $180M  = $2.24c value to MOG*

Even the low case *6M Bls x $25 x 16.67% = $25m = 30c MOG*

But the high case *91M bls x $25 x 16.67% = $380m = $4.75c value MOG*

Any sniffs of oil will cause a rally in the stock as punters wake up to the potential that may lie within Coelacanth


*
Vic P53**  Oil, 8.3% Free Carried Interest, Gippsland Basin Offshore VIC *

Now here MOG has again managed to farm out its interest such that Stuart Petroleum (STU) will free carry MOG for 2 weels 

The first well here will be *Bazzard 1* which has a *mean target of 50M bls* and should spud Sept 08


*Vic P47**  Oil, 35% Pre Farm Out, Gippsland Basin Offshore VIC *

Vic P 47 is surrounded by many oil and gas fields, in particular *NXS's  recent LONGTOM Gas* discovery, which has upgraded the prospectivness of this permit.

MOG is seekin a farmout partner, most likely it will be Apache


*
Vic P41**  Oil, 25% Pre Farmout, Gippsland Basin Offshore VIC *
Vic P41 has had alot of surveys siesmi and mapping done and MOG has identified a number of large targets

*Benchley 245M bls Oil +  1992 BCF Gas Target
Kipling 205M bls Oil +  944 BCF Gas Target
Oscar 80M bls Oil +  75 BCF Gas Target*

Anyone of these targets if successful would be worth $2+ a share to MOG



*
EPP 34, 35 & 36 Offshore Otway**  Oil, 20%, Offshore Otway Basin Sth Aust *

Very early stage elephant area's, much more work required to define targets etc etc


*Summary*
*-Current Mkt Cap = $10.4m
-Cash = $1.9m so EV = $8.5m*

-*Free Carried thorugh the drilling of up to 4 wells where any one of them could add $50m - $400m in value to MOG*

-The many permits with high quality technical survey/seismic and mapped 100M barrel targets data makes MOG an attractive takeover target for someone like Apache

- The Gippsland basin is a proven basin with lots of large Oil and Gas discoveries, a single discovery can become a company maker (see NXS for case in point) 

Bottom line MOG is not a 1 trick pony


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## urgalzmine (16 March 2008)

Hey YT 

How do you spot shares like this? 

http://au.biz.yahoo.com/080221/43/1m80y.html

The above link indicate that the area MOG is at the heart of oil/gas

VIC/p45 targetting 64mboe, IMI, an independent third party geological appraisal company estimated that VIC/P45 could possibly contain approximately 350 million barrels of oil and 4 TCF of gas.

VIC/P53 VIC/P53 consists of approximately 182,858 gross acres. VIC/P53 is also called the "Hole of the Doughnut" as it is surrounded by 9 giant producing oil & gas fields, leaving VIC/P53 in the middle.


According to:
http://money.excite.com/jsp/nw/nwdt...3b5458&date=20080313&alias=/alias/money/cm/nw

VIC/P45 Proven Reserves
"Back in the late 1980's, Petrofina made two discoveries on VIC/P45 which includes one oil field discovery, called Archer and one gas field discovery, called Anemone-1A. The Archer anticline has four (4) oil pays and seven (7) gas pays with approximately 1280 feet of net pay section. The estimated reserves of the Archer field are approximately 40,000,000 barrels of oil and approximately 32 BCF of gas. The decline in the price of oil in the late 1980's made the Archer & Anemone non-economic to develop."



According to: 
http://sec.edgar-online.com/2005/04/14/0001061288-05-000004/Section2.asp
VIC/P45 is only 1.5miles east of Kingfish oil field which is the largest oil field in australia, now whats interesting is that BHP conducted a seismic survey over the entire area, cost $10mill. BHP assigned it to Exoil Limited and MOG

Conclusion is that there has been proven reserves in the same area as VIC/P45, but was not economically viable at that time.
Close to Kingfish oil field and the fault line runs through MOG. Reminds me of a straw and a milkshake (If you have watched " There will be blood " )

I know some of the info is in the ann and YT, geographically digging is in a nice pretty spot. I only looked at a couple of the drill sites so there could even be more oil. Please correct me if the info here is incorrect. I know some of the info can be a little sus as the writers have their own agenda, so do your own research.
cheers


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## Sean K (25 March 2008)

For all the potential listed above, I'm surprised it's coming off leading into potential discovery time. Must be due for another update in the next day or so. Couple of keen sellers pre-open going to take it down, unless they're pulled.


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## urgalzmine (25 March 2008)

what the hell.. 

IT doesn't make sense. Where is the oil? latest ann 25/03/08 indicated that they are pulling out of P45 and abandoning it. The oil must of already been sucked dry from other oil operators around the area. 

Well that was big blow for me, i was soo excited.   I suppose now we wait for sept for drilling to occur on the P53 site.

sigh


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## kromey (25 March 2008)

kennas said:


> For all the potential listed above, I'm surprised it's coming off leading into potential discovery time. Must be due for another update in the next day or so. Couple of keen sellers pre-open going to take it down, unless they're pulled.




Unfortunately a DUD nothing found plugged and abandoned.  http://imagesignal.comsec.com.au/asxdata/20080325/pdf/00825649.pdf


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## nioka (25 March 2008)

kennas said:


> For all the potential listed above, I'm surprised it's coming off leading into potential discovery time. Must be due for another update in the next day or so. Couple of keen sellers pre-open going to take it down, unless they're pulled.



The keen sellers knew what was going to be announced. They got their price before the duster announcement. I wonder if they are buying back, after the drop, in anticipatiion of the next well.


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## Sean K (25 March 2008)

nioka said:


> The keen sellers knew what was going to be announced. They got their price before the duster announcement. I wonder if they are buying back, after the drop, in anticipatiion of the next well.



I'm not buying anymore at the moment, but haven't sold. I think it was overdone though. Still potential with the other wells to be drilled, free carried. Must be looking tastey at this price as YT indicated above.


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## fgzq88 (25 March 2008)

I put an order at 0.1 last week and forgot it. Hopefully there's some good news coming out shortly from other wells.

Anyway that's the risk we should take as it's all about potentiality.


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## YOUNG_TRADER (25 March 2008)

Well like I said veryy spec, high risk high reward,

But I reckon this is way over done, at 7c its mkt cap is $5.6m which is more than the cost of a well, so currently I would think it makes sense for Apache to have a crack at MOG, rather than free carry them through wells

Also we still have another 3 free carry wells to come, so all is not lost,

I am holding my position and hoping for the best in this Spec Oiler


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## JTLP (25 March 2008)

fgzq88 said:


> I put an order at 0.1 last week and forgot it. Hopefully there's some good news coming out shortly from other wells.
> 
> Anyway that's the risk we should take as it's all about *potentiality*.




^^^^
LOL...love it!

YT + Tiger Man - I agree this seems like an overdone sell off. 3 Free Carried wells to drill, highly prospective area...surely there could be some oil in the lower ranges of YT's calcs?


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## nioka (23 April 2008)

Not good news here today. Apache have withdrawn from the farmin agreement. Evidently they can't see any value in continuing to drill on the lease. Bad news, I expect the SP to plunge.( I hold a small amount. Will sell)


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## YOUNG_TRADER (23 April 2008)

Unfortunately the well was a duster, now Apache are pulling out of the program 

I am hurting bad on this over $60k down now,

I knew MOG was a speccy but I wnet in hard on it thinking that the upside chances were just too good

C'est La vie you win some you lose some, but this lose does hurt 

I suppose the only hope I have is the well still to be drilled by STU latter in the year


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## BESBS Player (23 September 2008)

Drilling is now underway at Bazzard in the Gippsland Basin. 
Mean potential target of 100mmbl. Should take a while to get to Total Depth so hoping for a chance that the SP will run a little.

I'm playing this as a BESBS (Buy Early Sell Before Spudding) play, although this is a long enough drill to hold a while as the bit turns in case any positive early news comes to light.

Although free carried by STU, MOG do not have a lot of cash in hand - especially when operating in expensive drilling areas such as deep waters like these. If it is a duster, I wonder if MOG might merge with BAS given the management and permit connections.

I am in at 7c. 

DYOR


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## BESBS Player (24 September 2008)

The drill bit is now at 820m and turning at Bazzard-1. 

At the current drilling rate, it will be a few days before the drill bit starts to turn through the intra-Latrobe zones. SP is rising slowly. Happy to hold for a few maore days to see if we get any good news early on...


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## BESBS Player (26 September 2008)

MOG now hit 9.5c (up 30% on entry priced listed on Sept 23). So far this puppy is behaving very well as the drill bit turns. I'll be watching carefully next week for any positive news early into the 'zones of interest', otherwise I'll be jumping off board and hoping to pocket the profit.
Happy to wait...


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## Shrewd Crude (28 September 2008)

BESB's,
very interesting strategy you have...
with these small companies you get the chance to lock in the profits pretty much every time when a well comes along...
I have a different sort of strategy on oil and gas investment...
hope all goes well for you... 

.^sc


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## BESBS Player (28 September 2008)

G'day SC.

As you say with CUE etc, there are many different strategies. With careful research, many different strategies can be successful. 

At present the BESBS method is working well. There are so many junior oilers who appear undervalued at present but the market seems to want big target projects that are fully funded, rig secured and about to drill before they will throw the money at them. This suits the BESBS strategy, and if played carefully, you can even hold for some of the drill in case early success arises. So currently we see money (at times) thrown at big shot drills with little likelihood of success while some smaller producers can increase reserves and the SP sits. 

Interesting you mention CUE. I'd be looking at CUE as a BESBS with Zeus along the line. Once the market is convinced that RDI can fund its share of the drilling, I reckon CUE will rise quickly before spudding. 

Good luck with your work...

BESBS PLayer


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## Shrewd Crude (29 September 2008)

thanks BESB's,
Keep us posted as to how you go with the rest of your trade...
Its interesting to note that there are five target zones...
Perhaps wait for results from the first zone?

.^sc


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## BESBS Player (29 September 2008)

SC,

I have now sold 80% of this stock at 9c average (30% profit).
Plan to watch the drill now. Bazzard is already at 2100m so should be in first zone. Might allow it to go to 2nd zone before jumping ship.


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## Shrewd Crude (30 September 2008)

good work BESBS...
MOG buy side has dropped to 8cents...
and still sitting quite pretty on such a day...
Ive never seen the markets this bad (ever)...
It does not matter what happens with Bazzard outcome,
no need to gamble with profits... good on you...

.^sc


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## BESBS Player (30 September 2008)

Thanks, SC.
In this market, profit is profit and I think most would agree (from what I have seen around the super funds), profit has not been easy to come by.

MOG should now be in to the first section of interest. Still holding my last parcel but watching carefully tomorrow. 

BESBS Player


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## BESBS Player (1 October 2008)

Only a tiny bit of MOG now. 
Happy to let this sit and see if a positive announcement comes up in the next day or so...Still might win the lottery on the little holding but happy to have the profits locked in.


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## Shrewd Crude (3 October 2008)

Good trading BESB's..
MOG now at 5cents... down from the high above 9cents last week...

.^sc


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## BESBS Player (3 October 2008)

Decided to jump off board today with the final small holding (at a small loss). Waited as long into the tatts draw as I could but no more...
MOG might still come up with a winner but the odds were not high enough for me.

Early zones were water filled.
Main sands drilled today. If a big hit, I might have thought that an afternoon announcement might come through??? Based on this assumption (and that is all it is), nothing startling has occurred this afternoon. 

MOG too risky now for me. Very limited cash, no short-term prospects, SP likely to plummet on a duster at Bazzard.

Good luck to all holders and I hope that the lower sands do bring joy to the coffers!

Overall, a 25% profit in this market was and is fine by me.


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## YELNATS (29 September 2009)

MOG up more than a staggering 280% today to 30.5 cents based on an announcement, concerning what looks like WA tenements.

Quote
Moby Oil & Gas Limited (“Moby”) (ASX Code: MOG) is pleased to advise it has entered into an agreement to acquire from Gascorp Australia Pty Ltd (“Gascorp”), all of the shares in Rankin Trend Pty Limited (“Rankin Trend”), a wholly owned subsidiary of Gascorp. Rankin Trend holds, or is entitled to hold, an undivided 15% Participating Interest in WA-360-P and an undivided 50%
Participating Interest in WA-409-P.
WA-360-P contains the Artemis Prospect identified by the permit Operator, MEO Australia Limited (“MEO”) (ASX Code: MEO).
Unquote

Couldn't resist the soft-centred chocolates so unloaded my holding today.

Thanks to YT for identifying this one back in March 2008.


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## spandex (29 September 2009)

Hello guys, Newbie here..

I have been keeping my eye out on these shares for a few weeks now and just wanted to ask were I could find some more information on the company?

Do they have a website with drilling and detailed information or is there another source to find the detailed info you guys know that I don't.

Thank you


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## milothedog (29 September 2009)

www.moby.com.au

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=MOG

a couple of sources for you


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## YOUNG_TRADER (29 September 2009)

YELNATS said:


> MOG up more than a staggering 280% today to 30.5 cents based on an announcement, concerning what looks like WA tenements.
> 
> Quote
> Moby Oil & Gas Limited (“Moby”) (ASX Code: MOG) is pleased to advise it has entered into an agreement to acquire from Gascorp Australia Pty Ltd (“Gascorp”), all of the shares in Rankin Trend Pty Limited (“Rankin Trend”), a wholly owned subsidiary of Gascorp. Rankin Trend holds, or is entitled to hold, an undivided 15% Participating Interest in WA-360-P and an undivided 50%
> ...




Your welcome Yelnats manage to buy more at 12c today to add to a small holding I already had 

Took alot off the table today around the 40c mark

Staggering returns! Makes you feel good to be a trader 

The market just loves these huge offshore oil and gas plays!


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## greggy (29 September 2009)

YOUNG_TRADER said:


> Your welcome Yelnats manage to buy more at 12c today to add to a small holding I already had
> 
> Took alot off the table today around the 40c mark
> 
> ...




Amazing how positive the market can react to an acquisition. With under 500K in the bank, by issuing 120 mill shares for a new acquisition the sp more than quadrupled today. Could the same happen to BKP who are on the look out?
DYOR


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## YELNATS (30 September 2009)

Finished on its low today at 35 cents after getting up to 57.5 cents, a huge 64% trading range.

I wonder if the immediate good news is wearing off now, and whether the price will revisit lower levels. If so, I may consider getting back in. Watching and pondering.


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## Pivotonian (11 November 2009)

MOG was up almost 25% over Monday and Tuesday this week, and then drops 10% on open today.

Any ideas?


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## Putty7 (11 November 2009)

They have a 1 for 1 Cap raising coming up next week at .18c, unless news of the MEO farm in comes out they will probably fall back, either way the news should be good for MOG with their contract for Rankin Trend being sweetened last week.



> RELEASE
> 
> TIMING AND QUANTUM OF RANKIN TREND SHARE CONSIDERATION
> 
> ...


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## Pivotonian (11 November 2009)

Hmmm, the way its gone backwards this morning (16% so far) suggests there might be some bad news, no?

I notice MEO is off about 5% too - related?


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## Putty7 (11 November 2009)

I don't hold any of these but I don't think it is bad news ahead, just the Cap raising affecting the SP, I think the Rankin Trend announcement was a sweetener for the Cap raising, I would be surprised if all involved didn't already know the outcome or have an advanced idea of the MEO farm in result so for Gascorp to be so generous with their terms of sale, especially if they are going to have Share dillution before the deal goes through (not sure if this is factored in), seems a bit suss, either way the Farm in announcement plays out now it looks like a win win situation for MOG. My thinking is biased towards MEO so DYOR.


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## skyQuake (11 November 2009)

Pivotonian said:


> MOG was up almost 25% over Monday and Tuesday this week, and then drops 10% on open today.
> 
> Any ideas?




Ex-entitlement today. Its actually up on the day to the tune of 9.3% (23.5c)
Those with the rights should be happy


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## Pivotonian (11 November 2009)

skyQuake said:


> Ex-entitlement today. Its actually up on the day to the tune of 9.3% (23.5c)
> Those with the rights should be happy




Sorry, I'm a bit of a noob on this stuff.    Can you explain what this means?

I know they've announced a rights issue at $0.18, but the record date is not until next Tuesday, right?


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## skyQuake (11 November 2009)

Pivotonian said:


> Sorry, I'm a bit of a noob on this stuff.    Can you explain what this means?
> 
> I know they've announced a rights issue at $0.18, but the record date is not until next Tuesday, right?




Yes, however the ex-date is today. Your must have shares by the record date to participate in the Entitlement, but due to settlement taking a few days, you gotta own the shares *BEFORE* the ex-date, so that your trade will *settle* by record date.

Today the shares are trading without the right to participate in the entitlement issue thus it has fallen by an amount equal to the worth of this 'right'.


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## Pivotonian (11 November 2009)

skyQuake said:


> Yes, however the ex-date is today. Your must have shares by the record date to participate in the Entitlement, but due to settlement taking a few days, you gotta own the shares *BEFORE* the ex-date, so that your trade will *settle* by record date.
> 
> Today the shares are trading without the right to participate in the entitlement issue thus it has fallen by an amount equal to the worth of this 'right'.




Ah, I see.  I thought settlement was generally T+3, whereas here they're allowing five days?  Anyway.

So if its a 1 for 1 issue, then buying yesterday at $0.25 with an entitlement to the same amount at $0.18, gives an average entry price of $0.215.  So if they're trading at $0.22, they're up about 2.3% today on an equivalent basis.


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## Pivotonian (18 December 2009)

Well with MEO in a trading halt, the movement in this stock this morning suggests that the market is expecting a very positive announcement regarding the farm in.

Go MOG!


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## Putty7 (17 March 2010)

With the gains in the last few days its surprising to see nothing new here, MOG are riding the coat tails of MEO once again, will be interesting if MEO reveal the farminee if these will run further after regaining some ground back from around the time they had the last cap raising and the drop off in the SP during Febuary, I am holding so my opinions maybe a little biased.


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## Pivotonian (17 March 2010)

Its all about MEO, imo.

I'm holding too, but thinking about putting in a very tight stop loss now to capture the recent uptick if the MEO news doesn't turn out as good as hoped.


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## YELNATS (23 December 2010)

What has happened to MOG? From running at about 20c until Dec 10th, their price is now about a quarter of that.

The announcement of December 13th seems to have had a drastic effect. Was it all that bad? 

Fortunately I sold out at 20c, not that I could see it coming, but now I'm wondering if it's a good opportunity to get back in at a bargain price.

Any comments/insights?


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## 1nvstor (31 December 2010)

I personally thought it was a bit drastic why it dropped so fast. I bought in at 7c after seeing the potential at 20 c...


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## 1nvstor (10 January 2011)

YOUNG_TRADER said:


> Hey JTLP,
> 
> Sorry for the delay, research coming soon I promise but for now
> 
> ...




Hello Young Trader,

This may sound strange but recently I saw meo and mog dropped 60%. I jumped into mog as soon as the hit around 6 cents. Now they are creeping. Where are they creeping to? Do you still hold? I see you see the average 25c - does that still apply?

regards Michael


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## Dinipants (10 January 2011)

I too am wondering about this one. Surprising that there was a 60% drop in price over the 13/12/2010 accouncement, still not sure why is was so huge. 

Was thinking about getting in now, but what are its prospects after that last well? Not sure if it's gonna work itself all the way back up, and if so when and how long it'd take. .


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## 1nvstor (10 January 2011)

Dinipants said:


> I too am wondering about this one. Surprising that there was a 60% drop in price over the 13/12/2010 accouncement, still not sure why is was so huge.
> 
> Was thinking about getting in now, but what are its prospects after that last well? Not sure if it's gonna work itself all the way back up, and if so when and how long it'd take. .




Good question. I'm holding mog for 2 years max. Am very WU NAI about watching it sit there and do nothing but will cop that on the chin to it back up at 15-20 cents again


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## System (18 October 2013)

On October 9th, 2013, Moby Oil and Gas Limited (MOG) was removed from the ASX's official list following confirmation of the implementation of schemes of arrangement between the Company and Enegex NL.


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