WHAT BS, PS. If Shannon was worth drilling, MEO should have used...

WHAT BS, PS.

If Shannon was worth drilling, MEO should have used its preemptive right to move to 100%, then farm-out an interest.

As a long time shareholder, I DO NOT want our funds used to drill Shannon. We cannot afford to fund a 20% COS well ourselves.

With a 30% interest, MEO neither has the equity to farm-out or the cash. Worst of both worlds.

AND I DONT BUY THIS CRAP.

Why is MEO talking about Caliera being well funded.

I anticipated this being a balls up and at the time posted a link to Caliera corporate information.

https://opencorporates.com/companies/nz/4254998

All I can see is a NZ nominee director, who appears to be a front for a yank that owns 100% of the "fund". I don't see a well funded entity. You would have thought KEA's interest was acquired by Apple, reading the quarterly.

VERY VERY DISAPPOINTED.

PS - Don't get too comfy. You are only as good as your last deal and I haven't seen anything notable, yet. Nothing somebody on half your salary couldn't do.