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Regardless of the placing is interpreted or against personal feelings and loses, don't lose sight of the mcap.
It's stupid, a bad company at a good price, in this case a very good price.
On Friday last week we were on 0.011 and it's clear the friends know when an RNS will land and the sp had went up to almost 0.015p yesterday.. This share is volatile wit large swings at the moment.. Compared to last riday we are down only about 10% to close of 0.09 today..
Stanley, Greater Stanley and Falcons are all of the same geology.. And msmn is profitable in the teens and bod have mentioned in the mid teens in recent RNSs Hence they wanted to drill Falcon to 60% of the share of oil.. No doubt the placing have been forward sold and the sooner they are out over the next couple of days and with Welch sale being completed our mcap will be half the cash we have. We got Welch news's plus 6 month operation update plus, plus Stanley 1 workover next week. And 2 drills coming.. Even a trader will join us over the next couple of weeks as short term for all this activity.. Multi bag easily from here and the derampers know it hence trying to get it cheaper who doesnt.
Volume already coming up to 400 Million shares today, (Placement announced is for 500 Million shares), EPA155 announcement day volume was 880 Million followed by over 400 Million shares the next day (sp spiked from 0.03-0.04 to 0.25p).
A lot of appetite here no matter what anyone thinks, price may or may not go below placing price in time but at fractions of a penny difference with the possible gains it does not seem to be bothering those buying in now.
Hi Adrian it did not fall to 0.04 due to placing it fell due to covd19. It was at p. 24 and went to 0.15 during the placing and we were about drill s4 at the time which all got cancelled. There seema to be good interest at this level. More news to come fir Welch and a 6 months operations update which is further revenue for mosman. Our oil in the tankers etc all needs to be sold. My expectation was right 2 workovers and 2 drills but got the placing timing incorrect but if its for 60% then that's the best 0erventafe we have had to date.. Now it's in our interest to ensure it does give us around 200 bopd. That alone with similar structure to Stanleys will make mosman profitable.
Expect share price to fall lower than placing price, last placing at 0.15 fell to 0.04. I suppose John must be confident of a positive result at Falcon. If its a failure all the board must resign.
Another 10k down my last post was taken down that means and we have a paid mm deramper posing as an investor on this board scum !!!!
no point in raising less capital had to be GBP 400,000 to fund Falcon.
GEM is not enough to fund Falcon (currently worth about GBP 50,000)
Price in 2-3 months depends on Falcon result
Also its not a huge placing, £400k will get churned out fairly rapidly with so much news signposted for July and August starting from tomorrow.
News:
- Sale of Welch tomorrow as per 19th June RNS
- "The workover of the Stanley-1 well is now underway and should be completed next week" as per todays RNS (02nd July 2020)
- "We expect to shortly complete planning, start preparation of the Falcon wellsite in July, spud the well in August, and announce results a few weeks later." As per todays RNS (02nd July 2020)
- "Significantly, the Stanley Operator has today indicated that the drilling of Stanley-4 is now planned for August 2020" As per todays RNS (2nd July 2020)
"We expect to shortly complete planning, start preparation of the Falcon wellsite in July, spud the well in August, and announce results a few weeks later.
"In addition to Falcon activity, the workover of the Stanley-1 well is now underway and should be completed next week. The workover at Greater Stanley awaits approvals by the relevant authorities.
"Significantly, the Stanley Operator has today indicated that the drilling of Stanley-4 is now planned for August 2020. An AFE for that drill (where the site works have already been completed) is expected shortly. With reduced drilling activity, more rigs are available, and this is expected to result in lower drilling costs.
"This placing, along with the recent Blackstone settlement will result in Mosman having cash of over AUD 1.0 million. The pending sale of the Welch Oil Field announced on 20 May 2020 and due to complete shortly, could increase this to AUD 1.4 million. Mosman is now able to invest in several of our highest-ranked projects. Recent swift action by the Board has resulted in an exceptional turnaround from the position in March 2020