13 months ago MEO's Chairman released a letter to Shareholders. Snippetts of the correspondence are outlined below. Since then MEO's shareprice has fallen from 0.078 and is now trading at a glorious 0.03 - a 61% fall! What has happened to our Board? WAKE UP & SOS!!!
The Board’s vision for your company remains for MEO to grow into a high quality energy company capable of delivering sustainable top quartile shareholder returns through the acquisition of attractive upstream oil and gas growth opportunities and the application of innovative commercialisation strategies, primarily in the Australia/ Asia-Pacific region.The Board of Directors believes that the adoption of these measures, coupled with the existing strengths of the Company, will enable significant value to be realised for shareholders. I trust that this letter provides greater clarity regarding our plans for your Company. The Board considers MEO’s portfolio of projects to have tremendous potential value and that the MEO team has the enthusiasm and capability to unlock this potential value for shareholders. Nicholas Heath Chairman
MEO Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
