Ann: Puka Production Shut in, page-21

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Dr Daz

2,041 Posts.

16/01/15

20:22

Post #: 14597016
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Originally posted by mrmoshe ↑

G'day DrD...great to see you back posting.

The "Core Business" you mention includes Tassie Shoal and it is the same "clown" management
that has put TS on the block via USB.

That to me is poor stewardship of the company, coming at a time when the POO is on it's knees
and large companies are just not looking to fund big projects of this sort.
In saying that, there is the one exception, and the ownership of Evans Shoal may be about to change for the better (Shell selling out) being that one exception.

If management want to save some face, as well as shareholder fury, they would be wise to take TS off the table and keep it on the books.

The NZ and Cuba follies are another example of poor decisions by this management and the sooner they are all asked to leave, the better IMHO.

We can only hope that an Australian listed entity takes MEO under their wing, either via a merger
or takeover who also believe that TS will have it's day in the sun in the long term.

If the current management sell TS off for a pittance, there is no getting it back when all the owners of stranded gas surrounding TS finally agree it is the only viable monetary solution.

Expand

G'day MM,
It is important to distinguish "sell an interest" to "divest the asset". I have seen no evidence that an outright sale is the preferred option. If a willing buyer was prepared to pay a control change-of-ownership premium, we would expect mgmt to look at it.
I'm hoping MEO's asian partner is committed to purchasing gas ...

MEO Price at posting: 1.6¢ Sentiment: Buy Disclosure: Held
6 Upvote

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