I'm not 100% sure but I thought this A-1 spud to be an exploratory drill and Petrobras would only drill appraisal wells in the event of a discovery? Hope I'm wrong there but I think that is why today's gap-down reaction was so jolting.
MEO have other irons in the fire so there will be life after Artemis but it might be a bit of a wait. The Heron farm-in may generate some interest in the short term (hopefully)
There is still wirelogs to run so it's not conclusive yet although not looking good, there would be a lot of very angry people if they revise the "no hydrocarbons" verdict of today, those that sold I mean.
Genuinely feel for anybody that lost money today, have been subject to dusters myself and it cuts deep.
Always hope on the horizon though and Jurgen's focus has always been Tassie Shoal so it will be interesting to see if he can pull anything out of his hat.
Good luck all.
MEO Price at posting:
23.0¢ Sentiment: LT Buy Disclosure: Held
