artemis rig, page-41

Iam,
yes I feel very confident about researching and buying a stock now. I have learnt so much from KAR and MEO (just starting actually). KAR was still shaking people today, 9% drop in one day by no reason. We will be the same when we start drilling. I belive that.

RE: PF
I have nearly forgotten about the PF, not considering it much anymore. It ould be bonus for me if the PF signs the agreement.

I am preparing myself that MEO will drill Artemis alone. I actually sent an email to MEO management on 23rd of MARCH after one of the posters here posted something about SPP. Couldn't get any response and was not waiting for it.

Here it is; (sent on 23rd of March)
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Dear Management,

I am an investor in MEO, holding close to 500.000 shares through my SMSF and my personal and other family member accounts.

I have realised from your latest announcements that MEO management have done their best through the farmout process during the last 6 months. I am a strong supporter of the management now.

I have also realised that the agreement with preferred farmin partner may fall through and MEO may have to drill Artemis prospect itself. As far as I know MEO will need to be prepared for drilling of multiple wells. Even though the right spot is drilled, there may be other complications and gas samples might not be taken in the first well (As happened to Karoon Gas in Poseidon-1 well). The cash amount MEO is holding now may be enough only for one well but not enough for the second well. I believe MEO management is aware of this situation.

What I will suggest below is a Share Purchase Plan (SPP) with options for rising more funds in case of MEO drilling itself. It is most probably already considered by management. However I will try to contribute by bringing out here again. I am one of the active shareholders talking in the HotCopper forums and I know the sentiment of the current shareholders. it would be much better if the management could establish a better communication channel with those retail shareholders. They might be ready to participate to a SPP by the conditions below. We all believe that if a major Oil and Gas Company have a very strong interest to drill Artemis, and chased this deal for about six months despite the opposing permit holder (current JV partner which is understood to be CUE), there is big chance of gas down there.

SPP

MEO may announce that they will enter into SPP and offer everyone who is registered on the 25th March $15,000 worth of shares at a 20% discount to last market price. Which means that shareholders are entitled to be offered 1 free option at 60 cents exercisable in 12 months from 25th March

For instance if the MEO stock price finishes at .375 today, a shareholder is entitled to buy up to $15,000 worth of shares @ 30cents each + free option.

I don't know how many shareholders would take this option. We have say 4000. So total would be $60,000,000 extra in the bank and if price is over 60 cents options are exercised another 120 mil in bank in 12 months. If there is a shortfall, they can be re offered to existing shareholders to rise more capital.

I have seen this plan work with other companies just recently.

This would give MEO a good plan B.

Plenty of cash to drill it alone if it all just gets too hard with current plan.

Yours sincerely.