There are people much smarter than me on this thread so maybe they can help me out with some logic...don't want to ramp up or down but understand...
I took a position in MOG today and still holding as I reckoned on the release of the MEO farm in announcement it was best play without understanding whether the deal was good or bad it was the best play risk reward wise....
My reasons were that it doesn't matter whether the deal MEO negotiated is good or bad (but obviously is for them in line with what people expected) as we just need a deal to be successfully concluded so we can drill in second half with our 15% free carry....
So if the deal is bad for MEO, it is still good for MOG, as we get the same outcome we get from any deal ie 15% free carry and ability to proceed to drilling...
But market tells me my logic is flawed given where MOG sp is or just telling me deal is ok that MEO negotiated and just selling into the news.....
I am probably just being thick and must be missing something...as I am not one to argue with the market as that gets costly...
