Ann: MEO acquires 30% equity in South Madura PSC , page-13

re: Ann: MEO acquires 30% equity in South Mad... Iam

I particularly like this part of your post

Total < US$6m for four new ventures. This will still leave c.$90m in the coffers (16.5cps) but with additional assets. Add to this a potential free carry in Heron and/or Blackwood to FID and, if we get there, an additional US$75m.

And, of course, the Carnarvon permits.

BUT

In addition if Petrobras decide to drill again at Artemis them we end up with another injection in the form of cash. Cant imagine why they will walk away after spending so much $ after so much initial DD. To stay and drill again will be a small % of the overall picture if they are confident of their initial analysis.

Right now we are below cash bacing and as much as this stock is prone to manipulation I saw multiple trades to the sell side today in the 2000 odd share figure. Someone is still playing games and this can only mean accumulation in my mind at least. Should result in good things for those willing to put their shares in the bottom draw and not worry about short term fluctuations.