re: Ann: Quarterly Activities Report for quar...
Yeah, that was my first thought. Tho what are they going to spend $40m on in the next year? They only spent 2.5m in past 6 months from a quick look at the books.
"MEO evaluated a number of New Venture opportunities during the quarter." Maybe a new JV?
If there's to be no JV then costs seem minimal in quarter ahead at least...
Priorities for the quarter ending 31st March 2010: - Execute binding agreements for WA-360-P farm-in - Secure drilling rig to drill Artemis-1 in 2nd half of 2010 - Continue efforts to secure gas for approved Tassie Shoal projects - Continue discussions with prospective partners for Tassie Shoal gas processing hub - Selectively screen New Venture opportunities
A buyback of $20m worth of shares could be very beneficial to shareholder value. Cash is king I suppose but it warrants thought IMO...
MEO Price at posting:
46.5¢ Sentiment: LT Buy Disclosure: Held