MEO got a mention on YMYC, the analyst was pretty bullish about this stock, pretty basic stuff really, IMHO.
Apache was a sure-shot deal for WPL & their defection to CVX has surprised many, and left WPL with HESS for the time being (HES are in deeper water at Martell-1).
Few months back WPL were mentioned in the media, to b in talks with 5 third-parties for purchasing additional gas, incl HES & APA-KUFPEC & 2 others. We dont know who the others are yet. Earlier in the year APA's chief was quoted by an analyst in the States that if he had more gas, he would sell it all to WPL. Wrong choice of words, in hindsight !!
IMO, its a sort of a coup that CVX have caused last week!! Not sure if most MEO-holders actually realised this.
Classic check-mate of WPL, at their own game in their own backyard by 1 of their own partners!! Crikey, only the majors can play hardball at this level.
Money indeed talks. However, WPL's sales pitch is we have 78% PLuto ready, CVX has 0% at Ashburton. We need gas, CVX already has met that criteria & sold most of it, damn!!
Actually, CVX-XOM-Shell (50:25:25 %'s) together, have sold a total of 12.375 Ttcf gas for apprx. A$219 billion!!
This single event from last week, has put MEO in the driver's seat, just a matter of time now.
Hope all goes well at the meeting, between MEO & its 'preferred partner' this week. In the meantime let's just keep an eye out for any more interesting articles/events.
'Who can it b now' (sang the 'men at work')!!
MEO Price at posting:
58.5¢ Sentiment: Hold Disclosure: Held