I am nogt opposed to a takeover proposal per se - i have accepted many in the past - it is just Mosman's takeover proposal is crap. My main point, not addressed by you or anyone on the Mosman site, is how are you going to raise your p50/p90 resources to commercial potential. On top of that you don't have actually suffucient potntial p10 resources in the first instance to work with to get into the p50/p90 bucket.
2950 barrels of oil is not a commercial deposit - i use to work in the resource devlopment area. so where is the money coming from to find p50/p90 without a share dillution which would make Mosman an attactive proposal. Going from 20:1 and then 10:1 hasn't changed the actual price that much, for Meo shareholders (because the Mosman price has falled since December). So nothing there.
And I don't have my head in the sand - if a decent prooposal came in then I would acceept - so at the moment I'd rather take my chances as I see more downside on Mosman than any upside. Just my thoughts - p50/p90 is the driver of valuen and frankly Mosman doesn't have any strategy there apart from a 'trust me' statement..
MEO Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
