I think that it is more a matter of following what is happening in MEO's sphere and realizing its increasingly tangible potential.
Two recent important happenings have been: 1) Origin's purchase of KAR's LNG asset for $800 Million. very strategic as it demonstrates Origin's serious intent in the WA LNG market and provides a look through valuation potentially critical for MEO (Re: MEO's Blacktip joint drilling plan with Origin as well as poential farmouts - Beehive??) 2) Increasing awareness of Australia's perilous status of as a high cost supplier in a now low cost environment. the article below from Macro Business demonstrates this only too well:
This obviously has benefits for MEO's TS solution which is pitched as the lowest cost solution to stranded EV gas.
3) The US EPA's decision to tackle CO2 emissions of US coal burning power plants is expected to be a catalyst for further global climate change focus. Global LNG producers will be increasingly factoring the future cost of CO2,maybe even higher than Shell's $40/MT provision. MEO's TS proposal provides a neat and cost effective solution for stranded high CO2 ES gas.
MEO Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
