we still drill in september - firb or no firb, page-12

Goodluck with it Anatol
No skin off my nose if it is Sept since I have a position in one of the other JV partners.

However, I interpret MEO's latest spud update of "late 2010" to be Dec. Never known these guys to deliver anything early. If that proves correct, I see the following scenario.

I think traders are waiting for FIRB approval for a decent exit with a view to re entering lower between now and spud, 6 months away. Therefore there could be some heavy selling on FIRB approval if the Dec spud is confirmed then. Consequently the FIRB sp spike may not happen.