a word for the fearful, page-69

Hi Flight,

I am no apologist for MEO ..I assure you..Keeping an objective opinion works better in the long run. My money and your money and every other shareholders money is on the line on a daily basis in the Stock Market...be vigilant or you (all punters) could lose the shirt of your back.

Pays to keep a close eye on MEO's situation...I note you do with your charting capabilities...good stuff! hard Yakka!

You say

"What is so good now in MEO ???"

Response:

Artemis field surety and money to drill alone if need be. Forget Tassie Shoals for the moment and NT/68. The company maker short term is Artemis...we either win or lose the big time after drill results are in..The 3D interpretations look better than ever..but no guarantee...they may drill in the wrong spot..unfortunately drilling will not occur until 3Q 2010...too long a time frame for me!

"Fact is, that the recent 45c placement brought a lot disturbance."

Response:

It has but only in the very short term. The Dilemma for MEO was that they needed a very quick fix solution to keep Artemis out of CUE and MOG's grasp if they could not ratify the final legally binding,fully executed Farmin agreement prior to 31 DEC 09...They would have lost Artemis...MEO SP would have plunged dramatically IMO if this scenario eventuated.

It is now obvious that the board knew this and had plan B ready to roll out within 24 hrs of a further delay in execution of the legally binding Farmin agreement.

That is why I said the Farminee, in an earlier post, was playing silly buggers. Maybe they had alterior motives..not going there!

MEO responded swiftly to the delay ,the 15 DEC Farminee Board meeting to approve the deal....well excuse me !! in my game this is known as stalling for a better deal at the last minute...suck you in at the beginning with a sweatheart deal and then Whammo..cop this at the last minute ..only because they knew MEO had a weak point .. the deadline by 31 Dec to secure Artemis.

My take is that MEO were livid with this delay..just as a lot of us were and probably still are. The CR was the only course of action ..going from being on your knees ..so to speak..to a position of strength.

It does make me worry about the Farminees cred and commitment.

"And the 45c placement gave institutional traders free profit."

Yes it did and this was a function of saving MEO's Bacon.
Not an uncommon situation in the Markets..you see it all the time with various stocks..just surf HC and you will see...use the search feature or the coy announcements..Cut throat world out there in this game.. If they can shaft you they will...with a big smile on their faces.

Wondering, why this always is like this ???

Response: Unfortunately that's how the market is ..shafters/grafters/muggers/buggerers ,etc, etc ,to take a line out of Mel Brooks' movie "Blazing Saddles".


"Wondering, if MEO was soooooo good, why it got sold down to 6.2c ??? "

It's a speccie O/G stock..if you strike oil or gas we all win..if you strike CO2 we all lose.

Simple. Their previous attempt earlier this year to locate Gas in ZEUS turned out to be a "No Show"..disaster stuff ..down to 6.2c compounde by the GFC effect..lose your short and hold your pants stuff...glad I did not buy in then.

Artemis is a different probability situation with lessons learnt from ZEUS...Really this sort of punt is for the brazen, ballsy die hards that will take a punt on any 10 bagger possible post GFC...not many of these opportunities left now..unless you go into South African continent plays or some other 3rd/4th world million to one shots before you lose the lot.


"On the ASX is everything possible."

Correct!


"Generally todays finish in the red can trigger a new downsell."

IN MY OPINION it was a disappointing end, but fits into the orchestrated trading in the last week. The base is 45c ATM..VWAP @ 47c..we will know more tommorow.

30Th November for me is the crucial bit..excercising of Directors options..I look forward to the 3B notice on monday.This will determine my actions in response.


"Nervousness from some can bring fortune for others."

ALL the time!! That's how this market system works...not what you would call a level playing field..but hey there are large sums of money involved.

As a parting comment All I can say is that a big loss could become a large tax write off.

Cheers Flight ..keep posting ..question the norm...it's your money they are spending!!

Disclaimer:

Strictly my opinions only expressed above.NO financial advice given ..use your own common sense to determine your path in share trading..DYODD..please!!

Then you can only blame yourself and not hold a grudge.Only punt what you can afford to lose comfortably.

Pardon any grammar and spelling typo's.