This theory seems to be gaining some weight on this forum. It would seem a reasonable business decision if you reckoned there was a good possibility of hitting 12tcf and your share was likely to be greatly enhanced by getting rid of a couple of non-value add free loaders.
The buy side looks strong so we will have to watch developments - price might rocket if the way forward is to drill Artemis again - could make those who sold out at the bottom rue their decision.
Long term has to be a hold as there is value in addition to the cash backing. The PBR relationship must also be worth something too.
MEO Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held