But don't take my word for it.This is the announcement where MEO...

But don't take my word for it.

This is the announcement where MEO announce the NT/P68 farmout which was intended to EXCLUDE Blackwood.

http://www.meoaustralia.com.au/icms_docs/81303_MEO_opens_NTP68_Heron_data_room.pdf

The 1.5Tcf estimate of contingent reserves at Blackwood is based on this era analysis. Now compare the above aerial extent of Blackwood, to that in the recently published ENI map which presumably incorporates the recent mapping made available by new 3D shot in Dec 2011 by ENI. No wonder Eni needed to shoot 698km2 instead of 500km2.

The new Blackwood appears to be 2-3 times the size of the earlier interpretation. Hell, Blackwood may end up being bigger than Heron.

All free upside. GIven 1 Tcf in these woods fetches ~$150m (twice MEO's EV), to buy and hold is a no brainer. I'm amused by the stresses the traders are copping.

Buy and hold goddammit.