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In reply to: tinsanta on Monday 27/06/05 04:26pm

Have a look at AZZ very oversold reference my post this morning but since up strongly. Also have a look at PPP with its proven oil reserves and its expected share of Tui oilfield which would be 3000bod.Most likely the most undervalued share on the oils board on proven oil reserves, will have to move up or be taken over in the next year. A year is often too long for some investors to wait regardless of the fundimentals The shares either move up in the next year ,or they will be taken out by AWE,MITSUI,HDR or NZO.Their only problem is how do they fund their share of the Tui oilfield and their share of prime acerage in the Carnarvon basin with TAP,STO APACHE,WPL ect, I feel this is what a preditor might be waiting for but then if one moves the others will be caught out. PPP fits in exactly wit what TAP wants and Eric Mathews now with AWE knows all about what PPP holds. Several of the "new" oil companies that have absolutely nothing have a market cap more than PPP's $25million which is just silly, but thats what happens when "old" oil shares are overlooked. PPP was up 13% at one stage today so maybe the market is starting to take notice at last.

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Ian,

 

In the case of Hurricane, you are accusing the Chairman of WPL, along with MOS, of gilding the lily by his stating that

 

On exploration, the year has started with four significant and successful wells ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ Pluto on the North West Shelf and Blackwatch and Halladale off Victoria, and Hurricane near our Legendre field off Western Australia.

 

Surely you agree that WPL don't have a track record of exaggerating exploration results - look at Mauritania announcements versus HDR. If WPL call Hurricane significant and successful, do I take WPL opinion who have a load of information that we don't. or do I listen to Ian Whitchurch. It's a no brainer for me!

 

OK, I am wasting my time trying to point out where you are making errors. I am sorry that I can't help you as you would prefer to stick to overly simplistic models and be driven by unfounded paranoia about companies being deceptive based on some bizarre misconception about what BOE means - that's fine, I just can't see any point of continuing our discussion as there is no payoff fro me.

 

Clearly, MOS is not a company for yourself.

 

Cheers,

Mosaic

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In reply to: mosaic1996 on Monday 27/06/05 05:12pm

Hi All,

 

Great to see so much interest in the Mosaic board at the moment.

But I have to say, besides all the discussions on this board keep a close eye at the share price of Mosaic because its going to become a real buy at the moment.

Contrary what people believe Mosaic has still a lot going for itself but has not been very lucky with the Waggamba field.

The next hole drilled could well come up with the goods and be a turn-around for Mosaic.

Hurricane will still be an important play and it looks that we have a nice oilcolum laying under the gas cap.

Hurricane could double the current shareprice in no time if it is as good as WPL makes us believe.

Further drilling will give us the info we need on this one.

 

Do also not forget the infrastructure Mosaic has in the area.

 

So i will not say that its one of the most fantastic oil/gas producers at the moment but it certanly has still lots of potential to turn around.

 

jojo

 

 

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In reply to: jojosydney on Monday 27/06/05 04:26pm

JoJo you must be on MOS's payroll. You're doing a great job spruiking it up. I've been a disappointed holder for a long time. MOS has done nothing except disappoint from the time I first bought in. (I tell a lie once the SP went up to 26-27cents - whatever).

 

Just why are you so enthusiastic about MOS?

 

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In reply to: mosaic1996 on Monday 27/06/05 05:12pm

Mosaic,

 

Shell got busted for gilding the lily. One of the super-majors.

 

When I see a drill rig, booked and paid for, with a slot, then I'll believe Hurricane-2. Until then, it's just another subeconomic gas find.

 

If you want to risk a value, great. Tell me a story on Hurricane-2 oil reserves, given the size of the gas cap.

 

I'm having trouble quantifying what Mosaic owns, where it is and what it costs to get out of the ground.

 

I'm seeing a company with production costs I can't describe as 'transparent'. What did happen to double the costs attributed to production in the last two quarterlies, anyway ?

 

I'm seeing a company with a number of fields, and not reporting flow rates for each of them.

 

I'm not sure where they put Kimu - is it in their reserves, or not ?

 

Lots of questions ....

 

Ian Whitchurch

 

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Ian,

 

We all approach this game in a different way. There are many ways to skin the cat. You can't understand MOS to the degree that you need - don't buy it. If I took your appraoch I would never have bought numerous oil and gas explorers that have paid huge dividends.

 

I will let you answer your Kimu question by a bit of research

a) what are MOS 3P gas estimate

b) what are KIMU 3P gas estimate

c) what is MOS percentage of KIMU

d) would MOS 3P KIMU exceed MOS 3P declared in 2004 annual report

 

all of this information is in the public arena.

 

Or just look at the 3P number, and think about it objectively based on the assets that you know about. It should be obvious!

 

Cheers,

Mosaic

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loving the discussion from mosaic and ian. learning lots. seems the argument is between the realities of the bottom line vs the scientific content.

 

CMQ suffers from the same discussions the commercial actuality/reality vs science of the product.

 

personally, i am confident WPL reckon that Hurricane has something worth following up.

 

when it comes to MOS, as a small company, they are obliged to talk it up at every opportunity.

 

the glass is half empty or half full, i just can't decide.

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In reply to: healyn on Monday 27/06/05 06:35pm

Hi Healyn,

 

I would not call myself too enthsiastic about MOS, but just try to point out that Mosaic has certainly the potential to turn around and that its not the end of the world.

 

I had a large holding in Mosaic but have sold half of it a while ago because of the many frustrating dissapointments.

But saying this I have never lost money on Mosaic and have traded them a number of times.

 

So Mosaic has been kind to me and does deserve a balanced opinion on my part.

 

Good luck and if you need to make some money back that you lost on MOS, have a closer look at CUE.

 

 

Jojo

 

 

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