Seems that not very much has changed at MEO, except for the...

Seems that not very much has changed at MEO, except for the share price. Same Board, same CEO and the same technical and commercial teams that assessed and got them into Gurame in the first place. Oh yes, and the same strategy they enunciated before the Gurame disaster (but not followed).

And wasn't it this "talented geoscience team, particularly skilled at New Venture identification and capture" that got MEO into the Indonesian and Thailand "opportunities"?

Although the loss from the Thailand drilling was not as great as Gurame, it was interesting that this was not mentioned in the press release.

The key "strengths" attributed to MEO in their own strategic review seem to me to be the very weaknesses that got the company into its current parlous predicament.

Also nothing new in their strategy for "delivering value" in their current and new projects that wasn't said before.

Nothing about improving the company's financial situation (particularly addressing the company's high recurring administration costs) and the constraints that puts on the company.

I thought it was a very disappointing and lackluster announcement. Pretty much business as usual and more of the same (see MEO announcements before Gurame) except for additional oversight of the CEO. As a shareholder (albeit a bruised and battered one) I expected more than this.