predictable. all very predictable.

On this forum, we have had a raging debate about which outfit is best exposed to success at Artemis for a long time.

Precisely 7months ago, I indicated that despite MOG's microcap, MEO would be the better performer.

Since I posted this, the entire period, MEO has and will continue to outperform MOG. Just making the point that all is not always as it seems, and unless you have done your research, you are really gambling.

On the 14th of April 2010, I wrote:

Now that the deal is done, its time for everyome to self-assess how they think they went.

I continually said MEO would get cash upfront and past seismic and free-carried for 3-wells. Did I not? Only to be mocked for a MEO lover, blah blah blah.

MEO are going to receive US$39m in COLD HARD CASH before the end of the FY09/10.

MEO will not have to contribute any more cash through an exploration campaign that may see US$165m spend on up to three wells.

Upon success of Artemis-1, not only will MEO not have to fork our any cash at all (whereas both MOG & CUE will have to raise lots of cash fast), MEO will in fact receive a CASH WINDFALL of another US$31.5m.

So MEO's exposure is not only higher than the other partners (20% instead of 15%), it is in effect, non-dilutive, where MOG I imagined will be diluted heavilly in any case.

I had many an argument why MEO was the best entry and was ridiculed from far and wide, MOG this and CUE that.

EOD today, CUE up 11%, MOG up 22.5%, MEO up 25%.

So how was MOG "insurance". As nice as MOG's announcements have been, I can not see any rationale EVER for an investor interested in 360P to hold MOG over MEO.

As for CUE, they will learn real good. Let's see the quality of their farminee. Wonder whether it will be as impresive as ICN's, LOL!

This post is not intended to brag or puff ones chest, but rather to show that in the end, cool, calm and collected rational investment does pay off, and in this hypercompetitive investment world, value still does matter.

No matter what anyone says, our little company today was transformed very significantly. Not only are we in bed with one of the world's best oil companies and cashed up, we now have a whole range of opportunities, not the least of which is TSMP.

I'll wait until the excitement dies off, and when everything is quiet again, will look at grabbing another bar of these.

Good luck all.