Yes, you are right on this Dr Daz that Gurame should be considered a development or appraisal well.
So what is the company doing wrong when it seems to have done so much right in the past? Quite an amazing record for a small company including stella farmouts to big multinational companies such as Petrobras and Eni together with successful seismic and drilling operations.
It would seem from the posts (and the share price) I have read that management is now on the nose for investors. This is in spite of drilling by Eni at Heron South (what is happening with this well by the way?).
Possibly a matter of promising a lot and not delivering. The company has seemingly lost the ability to farmout which is key to its business model since it has no income from production. Maybe it can yet pull a rabbit from its hat.
MEO Price at posting:
21.5¢ Sentiment: None Disclosure: Not Held
