And to prove again, SP will always fall to or below placement value. It happens every single time.
MEO were a little quick here, my coms with them were not to undersell themselves or shareholders .
I think They did., all looked a little desperate to me, they already have funds to progress drilling plans.
Good thing it was only a very small placing, if SP remains here or drops further, there will not be a massive take up for the SPP I would think and why would there, when you could pick up cheaper on market.. It's like they are considering their shareholders but have just rushed a decision to early in my view.
November, would have been far better, going into Northern hemisphere winter and firming up of crude.
They now need to go into selling themself mode again and get the SP up, to make this look like a decent SPP play.
MEO Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
