Hotrock, thanks for your post. I share your concerns about the preferred farminee ('PF') as there is no doubt in my mind that it has been responsible for the delays in finalising this deal. I am therefore apprehensive about the future of MEO with the PF which is already responsible for delaying the drilling of Artemis (based on MEO's original plans). I believe that MEO is also frustrated with the PF based on direct and indirect references to this in announcements and otherwise.
It has also crossed my mind several times this year that we might have been better off going forward with another choice like WPL notwithstanding that the PF is expected to have come up with a superior offer. I suspect that with WPL we would probably have secured a Q1 or Q2 drilling slot for Artemis which would have fitted in with MEO's original plans but we now have to wait until Q3 at best though it will not surprise me to see this go to Q4.
My concerns with the PF are with the future as I intend to hold on to a good portion of my holdings if Artemis is a success. I do worry about how long the PF will take to develop a gas find and the decision making process given it's track record to date.
If this farmin deal is not finalised by the end of the month I will be expressing my opinion to management that they should discontinue with the PF and go to plan B.
Finally I also share your views about Dr Daz's posts and in particular his occasional insults. Now that the good Doctor has come out of the shadows again has he got the balls to reply to my post no. 5096636 and admit that he was wrong. I'm not holding my breathe for an apology to the insult in his post no. 5096383 but it would appear that although my earlier post was "very simplistic" for him, it was apparently too complex for the Doctor to understand.
ANZ
MEO Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
