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.
In case you haven’t heard, I think I am right in saying that Mosman Oil & Gas (MSMN) has discovered oil. Today’s latest double “discovery” hasn’t been greeted with the usual fanfare, as the share price has taken a sharp dive to 33.5p (last seen). Given that this precipitous drop is in response to the announcement of two “discoveries” at Crestal-1, perhaps the market is unimpressed at the total absence of detail of what has been found? Or perhaps people are more concerned about the pending placement?
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