Ann: Lodgement of Scheme Booklet, page-34

oh i share your pain renovator. not saying when things will get better just that on paper the merger makes sense if you look at it from a CR perspective. $23 million plus wa acreage for 25% dilution at meo current prices is a good outcome for meo and nen imho.

neither asset is distress post the merger and it will still be a buyers market with distressed assets that had an initial capex outlay relative to the current oil price that make them cash flow negative. meo and nen buy these sorts of assets at lower capex prices hence cash flow positive as well as no tax on first $350 million in cash revenue. imho will need another year to bear some fruit...

adl