Share Price1 Aug 2018 11:12
So I still feel that the share price is suppressed, not because of MM's, but because of sentiment. MSMN has never been able to progress as PI's want it too, and have diluted far too much at bad times.
But I really feel this is starting to turn around.
From the last few RNS:
Welch production increased to 44 BOPD (around 30/31 attributable to MSMN)
Ok so this is quite low, but at a low estimate of $65 a barrel this is $711k revenue a year, which should be generating some profit, and there is still good options to increase this flow rate.
Akroma:
Waiting on information of flow rates, but from the RNS you can infer that it is flowing and they are working on increasing and stabilising this.
Stanley:
Oil has been found ... NOT A DUSTER
More oil than originally estimate.
Previous predictions of flow rates were 150Bopd.
over the next 1-2months they are going to be flow testing, and this well should start producing very soon.
150 Bopd would be over $3.5m turnover a year. (around £2.6m) which is just short of current Market cap.
If Welch, Stanley and Akroma are all producing and more wells are drilled to further increase flow rates, I see Mosman being on track to not need any more funds from new shares within the next 3-6months.
These 3 areas should see this SP above 1p easily, and have the potential to increase it further as more production is carried out.
Oz.. well I've been out of this for a long time prior to buying back in on Monday, so havent had the time to fully research the Oz bit.
But from what i hear, this could be Huge.
Buy and hold...
Sit tight
See you for a big Christmas party this year I hope.
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