Recoverable Resource vs Proven ReservesFirst of all, I want to admit that I misstimed the end of the promo campaign here at Mooncor. I did sell too early at 35 cents, but a profit is a profit.
Nevertheless, the news was mainly fluff, and it looks like the promo is still on, until further, more indepth results trickle in. This promo is not any different than the management team was able to do with Richards Oil & Gas. Still, I was wrong with the timing, but there is nothing but speculative gestures in the news release, and oil in place, recoverable resources, does not mean MOO has gotten anywhere near that in recoverable, proven reserves.
Do you own dd. I still believe the smart money is playing this well, and will at any time, including now be moving out of Mooncor. JMHO Good luck and happy trading.
Mooncor had good results of 1 million cfd from their Hamburg well, but they don't detail how long they tested the flowrates. They need to release more details of how long the test was run. In any case, if the 1 million cfd holds for a prolonged period of time, that would be positive, but no reserves have been proven yet.
Their statements about quantity of resource can be misleading to those that don't know the difference between a resource and a proven reserve. Again, good luck.