PBR did their own research and validated the data for themselves.
Don't think for one minute they took MEO's word.
They are not stupid, but calculated risk takers, that is the game.
As for whether or not they will elect to do further drilling remains to be seen.
But they did go to alot of troubloe to get in, so to walk away that easily especially after gathering infield data and potential further processing statistics remains to be seen. PBR are very successful at what they do. that is finding oil and gas.
I think PBR will be busy running number as we post.
Ann out very soon either way I hope.
JH and the MEO team are not dreamers and elected to farm-down interest because of the risk.
Risk/Reward ratio set by MEO is adequate to ensure you will still be around to keep going, plus gain from any up side.
Market has yet to wake up to NT/68, tassi shoal and other permits recently acquired.
Well done MEO board.
Upside is still huge, but we did take more than just a gas kick.
MEO Price at posting:
23.0¢ Sentiment: ST Buy Disclosure: Held
