I think it only fair to entertain the worst case scenario even if the logic and probabilities mentioned by Daz make that scenario a low likelihood.
So lets say you bought today at 19c and then sadly both of the current wells are not successful....isnt the key question in that case whether or not MEO has anything else in the foreseeable future that would cause the SP to return to 19 cents or not far from it?
Blackwood? TS? another Heron well by ENI?
So after the expected big drop, what chance the SP spikes at some point in following months back up to say 16 cents? I woudl say likely.
The shareholder can then cut their losses with a loss of just 16%!
SINGLE SUCCESS UPSIDE 100%+ (Conservative)
DOUBLE FAILURE DOWNSIDE -16%
A pretty good bet in my view. I rest easier now than I did with Artemis.
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