i wonder if this caused a delay, page-21

morshe,

Indeed the international expansion of PBR continues unabated.

http://en.mercopress.com/2010/02/12/petrobras-signs-agreement-to-begin-oil-exploration-in-uruguay-s-continental-shelf

This bid round closed months ago, yet it was only this week the deal was formally inked.

I dare say that MEO might be the next cab off the rank.

MEO is talking drilling slots, surplus cash to be used for new projects . . . the deal looks all sealed to me.

To think that MEO fell to the low 30's b/c of delays and uncertainty over the deal being closed, once the farmout is derisked - as in sealed, we will be in an exceptionally good position.

I still stick by my supply/demand comments, and believe MEO will impress with an exceptional deal.