MEO 0.00% 0.0¢ meo australia limited

low volume today, page-15

  1. 2,896 Posts.
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    Naza,
    I think the reading and interpreting problem does not lie with TraderMC. Here is an extract of MEO's recent update:-

    "MELBOURNE, AUSTRALIA (December 21st, 2009) MEO Australia Limited (ASX: MEO) is pleased to
    advise that its preferred farminee has now received Board of Director approval authorising it to complete the
    farm-in to Exploration Permit WA-360-P. This approval enables finalisation of the documentation to
    complete the farm-in which will be subject only to Australian regulatory approvals including the Foreign
    Investment Review Board (FIRB).
    A joint release with details of the farm-in will be made once the agreements have been executed"

    The last sentence is the salient bit. Once the documents have been executed it HAS to be released. FIRB will be a rubber stamp as there has never been a farm-in knocked back by the FIRB. The vast majority of Carnarvon Basin permits are owned by foreign companies so one new entrant will be gratefully embraced by the regulators.

    ANZ
 
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