how long's a piece of string supertramp. I mean, that's all people were hoping for when they were buying pre drill at over $1.20 - good gas in Epenarra - and odds of that are now significantly improved. I was surprised at the price back then given it was based on old logs etc, but given what they've seen to date, long term it's looking good for multiples over current market cap, as they seem to have a much better resource at depth now as well. But short term, it's all about flow from one formation, and failure will see a drop to at least 30c, while success should see at least $5 and then more upon additional successful appraisal. Given the odds of success must now be greater than 75%, then I would say current market cap is low. I put the odds at that level given the interpreted fractures, but this sort of evaluation is not my area of expertise.
MEO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
