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!!!!