Having an additional 56M shares on issue while causing a dillution takes away the risk of not being able to commit to drilling by the 31st of December.
In my eyes the dillution is well worth it and will stabalize the SP until the announcement of Farm-in.
I dnon't believe the SP will drop that much today at all (hopefully I'm not wrong)
Clearly MEO management have a great deal on the verge of being signed-off, so very happy holding.
MEO Price at posting:
54.5¢ Sentiment: Hold Disclosure: Held
