The incoming chairman is actually quite suited to overseeing movement at the TS project, so his replacement of Greg is probably not just a case of removing deadwood but a case of PS getting his ducks in a row.
Wrt to Hartleys dealt with them many a time, they raise capital, sometimes it helps companies create value, sometimes it doesn't. I'm indifferent about Hartleys lining up some SI's, but what I am more curious about is how Cuba will unfold. This is high-risk, high reward territory, but MEO should me able to monetise this quite easily, I'm talking cash in hand, but it will take time for MEO to develop a compelling interpretation of the data.
Barossa appears doomed, regardless of who owns it, at least for another 5 - 10 years. But if Shell close the BG deal, they will be sufficiently weighted in this market, to divest ES. As for Shannon, vomit vomit vomit. MEO does not have the resourced to drill such a well, end of story. Shannon has a POS of <25%, can hardly rely on success here and production revenues to fund anything. If MEO agrees to fund drilling of Shannon, I will ring the AFP and make an allegation of bribery, as it is unfathomable that MEO walked away from 70% of Puka for $500k, then comes back to fund 30% for $2m. Absolute BS, particularly if you dig down and find the shady character behind the outfit (questionable yank) than acquired KEA's interest.
MEO Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
