a visit to hq

Hi Folks -

I had reason to be in the Big Smoke past Monday and out of curiosity I swung past the Meo offices, totally unannounced and uninvited, and requested, as an interested and motivated shareholder, a chat with JH ( with whom I had spoken briefly at the last AGM ). Call me old fashioned but I like to deal with people face to face rather than the modern tendency of e-mail etc.......where the nuances of speech and body language are missing. The charming secretary informed me that he was in a meeting and took my details - ok, I thought that that would be the end of that!

To my surprise she called soon after and had pencilled me in for a 15 minute timeslot at 4pm indeed with JH.......she again called about an hour later informing me that he was indeed double-booked at 4 and could I wait till 4.45 - well, I've been waiting a while now so what's another few minutes!

Now let's get clear that I'm no financial analyst/journo ( I teach woodwork to recalcitrant teenagers in a tough secondary school) - and I did not necessarily plan well for this occurrence ( as I assumed I'd receive a brush-off ). As I have already stated I went as a interested s/h and certainly not to harass, harangue or tell them how to run the operation. And I also realise that it would be imprudent and pointless to ask questions that were seen to be digging for info that he could not reveal...... so I would summarise my discussion with JH in the following key points.

First, however, let me compliment Meo as an organisation for being receptive to my request and JH in particular in giving a full 25min of his precious time one on one and hearing my queries.

- Meo get where they get through their rigorous technical analysis and ability - this is what leads to farm-ins such as PBR and Eni

- the market has indeed not accorded any value to the Eni participation in NT/P68

- there is currently " unprecedented interest " in the TS Solution and that will certainly come to a head late 2012 when neighbouring permit holders will need to commit to either renewing and engaging or leaving

- there are exciting new staff appts to be announced ( as per recent presentations )- that will indeed further bolster ranks

- he was very upbeat about the Seruway acquisition believing that this could have the potential to deliver considerable value. Again the market is not yet valuing this asset and Meo are soon to begin a large 700km2 siesmic survey in this permit where there are 2 confirmed discoveries and more potential targets

- he also gave the impression that Eni are in for the long haul in NT/P68 and directed my attention to a slide in their Sept Brochure which is essentially an updated printout of the Good Oil Conference presentation.

If one looks at slide 8 of this presentation on the Meo website;

http://www.meoaustralia.com.au/icms_docs/103098_RIU_Good_Oil_Conference_presentation___06092011.pdf

- it is clear that Eni first drill Heron before committing to any other program in the permit, be it seismic or drilling. It appears that none of us have noticed that on slide 17 Activity Schedule the 3D seismic over Blackwood is placed BEFORE the drilling of the H#3. In the Sept updated version this has been moved further forward into the last Q of 2011.
So it reflects a critical reshuffling of the planned order which can only,imho, be a reflection of the intentions of Eni - it appears that they are prepared to spend some big dollars in that region.

That's about it - my original question to JH was along the lines of - " Can I feel comfortable in my investment in Meo " -( and nb; I,like many, am owed a multiple of the current SP.....) -

I've certainly walked away comfortable though I am well aware that there are no certainies in life let alone in this volatile market we are currently experiencing.

I would also encourage all interested s/hs to attend the AGM and actively participant in OUR company. A company is essentially people and when I reflect on the Meo team and the quality of people involved it bodes well for the future.

Something else; It would have been more fascinating to have had someone like Iam interview JH with his depth of resaerch and knowledge. I trust that Iam is having a well deserved break dipping his lines - maybe Moorookamick could fill us in?