Capital Raising, page-11

MEO do have a habit of taking advantage of SP surges to raise capital but that's better than doing it on the way down like the last one in May. I expect them to wait until this plays out a bit more and the SP moves a lot higher. In any event, don't they need to replenish their 15% placement capacity before another CR? Worth keeping the possibilty in mind of a CR further down the track IMO. Nonetheless, it's good to finally see some good news for MEO, especially on this TS project that has been around for so long. Doing deals in the O & G space at the moment does not seem to be the ideal time as it seems to be a buyers market so lets hope for a little competitive tension to get a good deal done. Some cash up front and a share of the revenue would be an ideal outcome.

ANZ