Ann: Two Non-Executive Directors Appointed to MEO Board, page-5

Response to rant.

Couldn't agree more. The original NZ investment was BS, and I said so at the time. Reason being, if MEO really is an option over TS working out or not (pay 1.8c a share, for a chance at $1), then why dilute shareholders for a mediocre, small-time acquisition with limited upside?

What I fear most is, new management with a new agenda, back dooring an asset into MEO and diluting the crap out of current shareholders. I am happy to limit new business if it means a decent crack at TS. I don't want to be diluted 5x over on a marginal project, as the value of a best-case at TS will be relatively material.

With the job cuts at Shell and reduction in capital investment announced today, I would hope Shell divests ES asap and TS oriented interests acquire the equity stake.