just called meo, page-13

I just emailed the following to everyone on the board, and a few others:

As we are all well aware, CUE is holding out on signing a side agreement which predicates the execution of the farm-in agreement. Unfortunately for the owners of the company, we are not privy to the status of current negotiations. I am aware of several disgruntled shareholders who have contacted the company, all of whom have been met with a wall of ?I know as much as you do?, or ?I am not able to provide any information?, or (my favourite) ?[the person you are after] is in a meeting?. MEO management has a less than admirable record with informing the market of progress or meeting deadlines ? possibly the most prudent being the failure to finalise the farm-in by end of first quarter 2010 (today).

As a shareholder and part owner of the company, I urge you to be more transparent and forthcoming with information regarding the progress of the current negotiations. Unlike in life, I have found that with listed companies ?no news is bad news?. MEO has been brandied about in recent months as the ?laughing stock of the month/year?, discussion forums are rife with conspiracy theories. Hard-nosed traders have taken advantage of this, and ?mum and dad? retail investors have suffered in a listless state of limbo. The responsibility for this lies squarely on the shoulders of management and highlights its ineptitude and lack of professionalism as a listed company.

Whilst I respect that management maybe be working tirelessly through robust negotiations, devoutly striving towards an amicable resolution, they need to inform the market and the people who pay their wages of this. Without transparency, the conspiracy theorists and day traders will continue to take this stock to town, and retail investors who ?believed in the MEO story? (a rapidly depleting number, mind you) will continue to be burnt.

The lack of transparency and information suggests that all is not well, and it is management?s responsibility to set things straight.

Please note, I have posted this communication on various discussion forums asking for collaborative support in urging you, MEO management, to respond to shareholder?s concerns.