Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Mosman Oil & Gas - crucial information in announcements that I can't see

By Ben Turney

3 July 2014 13:35

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Today’s RNS from Mosman Oil & Gas (MSMN) isn’t a helpful one to quell the growing hysteria around this stock. The company has informed the market that the “petrophysical analysis from its third party consultants including SRK and has determined the oil encountered in the Cobden Limestone at Cross Roads-1 meets the definition of a discovery in accordance with the New Zealand ("NZ") legislation”. This is the second “discovery” at Cross Roads-1 (the first being the “total potential pay of 17 metres” in the Eight Mile formation) and the share price has jumped 8.5p to 35.1p (last seen), valuing Mosman at £27.4million. This is crazy, when you consider key details are either not clearly explained in Mosman’s announcement or are missing entirely.

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Comments

Duck and Dive

3 July 2014, 16:43

Great stuff. Would you mind also checking out the “discovery” in Hot Creek valley, Nevada by US Oil & Gas (GXG: USOP) because I don’t think the BLM or Nevada Division of Minerals have it filed under “D”?

In fact, a new ShareProphets Discovery Verification service would be a wonderful thing, helping to boost share prices when discoveries are real while saving mugs from being fleeced by baseless ramping.

I reckon you could charge for such a service.
missed the boat ben

3 July 2014, 17:45

Missed the boat Benny boy, stick to the day job, playing at being a financial journalist is not the career for you!
Tom W

4 July 2014, 05:11

Missed The Boat:

For the avoidance of doubt Ben Turney’s day job is as a financial journalist editing this website.

The mammoth growth in user numbers since he took charge in January suggests that Ben is doing it rather well.

Ben is too modest & nice to mention this so I shall do it for him…

T
Ben Turney

4 July 2014, 11:12

@Duck and Dive – just to be clear, I’m not saying Mosman hasn’t found oil, it’s just they don’t know if it is commercial yet, which is what matters.

@missed the boat benny boy – thanks for that. I’ll send an email to Tom straight away handing my notice in
wildrides

4 July 2014, 16:41

Sounds all to reminiscent of NEW and the “ mining maven recordings”

Surely if they had oil of a quality, quantity , and It was also movable and commercial they would want to tell the market .

It must be oily water then !