where are those die hard supporters now, page-26

I personally was lucky enough to first get into MEO at $0.09 a year or so ago and then was lucky or unlucky enough to sell at around $0.29 a few months later. Since then I have watched the rollercoaster that is MEO from a distance and always said that I would get back in once the deal was finalised and the terms were clear. Well that day came this week and I really think that MEO have signed a great deal. I was however a little surprised and excited that when it came time to buy back in after the announcement the price was only $0.425. I personally believe that the announcement didnt make the sp difference I thought it would because everyone basically knew that Petrobras was the jv partner. That certainly does not mean that MEO is not good value at current levels because I believe it is. With the amount of cash at bank and one of the biggest wells in quite a while to be drilled later in the year I think that the sp will move up after a week or so. Lets face it there is money to be made on this for both traders and investors, all we have to do is buy in and wait until the well spuds because I can tell you right now the sp will be well north of here when that happens. MEO are a company on the move now that they have such a great jv partner and I believe we will see shareholder value created through this project and the others in the near future. I think what I have been trying to get at is as of this week MEO are in the best position they have ever been in and the sp is not really telling that story at the moment, I belive in the near future that will change.