the elephant in the room, page-10

Hi Folks -

No news from the Gurame rig release......which was expected around the 20th......not that Meo have cash to burn.......they stated at last heart breaking update here:-

http://www.meoaustralia.com.au/icms_docs/143844_Seruway_PSC_-_Gurame_SE-1XST_Progress_Report_No_14.pdf

....rig expected to be released around 20th .....no news....maybe Monday....it all costs .....the Gurame adventure has been an unmitigated disaster for shareholders and the company balance sheet....Longt has stated the obvious as supported by Corporate......and myself....all faithfull long term supporters now disillusioned by an unnecessary flirt with glory.....
......instead....keep Eni on board....do not risk precious capital.....and continue to push TS...they know the cost of semi-wildcat experiments .....now shareholders do as well...more prudent stewardship would have not risk this type of over commitment........all or nothing...that's our job....as shareholders...

Keen to see any new developments.....but the upcoming quarterly will be interesting to say the least......I personally see Meo copping another hiding re Sp due to cash balance ......might also depend on global waffle.....

Not cricket - is it?

Cheers Ort