Anyone MEO SH that is happy with the performance of the MEO SP post farm in would have to be a sadist imo... The SP was worth nearly double 6 months ago pre farm in... and no we havn't had another GFC in between (only a rise in the overall market whilst MEO's SP slowly slid). So how is it that the SP can be worth almost half, post farmin than pre? Increased risk - No? Quality of the deal? - No, Over 200mio back in MEOs pocket -Size or exp of partner - No, 5th largest oiler with best practise deep sea exp Future hurdles - No, the same future hurdles existed pre farmin Cappers - maybe partially, but I don't think so for the larger part Pace of deal - maybe - seems to be the most logical answer imo. A series of false starts and delays could not have improved trust in management and maybe moved a many potential SHs to the side. (I personally think management have done a solid job)
Other thoughts?
MEO Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
