Once they re-visit Heron they will be looking for more cash. Offshore drilling is expensive business. The production plants, that now look pretty much assured for the required gas, WILL need further funds from the market causing inevitable dilution and/or eventually, a farm-in partner. The latter is obviously a more positive result in the immediate term for the sp, but the market is still in damage control atm from huge losses worldwide. Once all the bad news and speculation has been paid for, we may see a capital raising sending her south a little, followed by (fingers crossed) a lucrative partnership. Essentially the return to Heron needs to bring the outstanding news we are all hoping for from the production testing otherwise it will be a VERY long time between chandons. If management and crew don't get the chemistry right it could be very painful for some. All that said though, having read the initial reports from Heron and also the studies by Shell on the area I am quietly confident that the end of 2008's reality check will have this stock heading in the right direction.
MEO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
