sometimes it pays to pull an announcement apart and really evaluate what it says....
The Key Points:
"the preferred farminee is a major international petroleum and energy company"
well perhaps MEO prefer that it was this "major international petroleum and energy company", who shall remain ficticous, but if the deal falls through will they be required to reveal who this company actually was?
MEO might prefer a company such as petronas to come to the party but does that necessarily mean that Petronas does?
and what does this actually mean:
"Commercial due diligence visit during week of 26th Oct finalised all outstanding commercial terms"
What were the terms and how were they finalised? Please the specifics!
"Arrangements to accomodate future implementations of an integrated LNG project have been agreed"
that could mean they agreed on the number of dongas to house the cleaners!
The final butt covering statement
"Farminee Board of Director approval required for entry into Australia. Next meeting scheduled mid December."
Who are the Farminees? Director approval required for entry into Australia! what the! a great little exit alibi there!
This really is market manipulation at it's best (or worse depending on whose side you are on)
This is very dodgy...
I really object to this form of trickery and especially since the asx know about it and do nothing
MEO Price at posting:
54.5¢ Sentiment: None Disclosure: Held
