Anyone MEO SH that is happy with the performance of the MEO SP post farm in would have to be a sadist imo...
The SP was worth nearly double 6 months ago pre farm in... and no we havn't had another GFC in between (only a rise in the overall market whilst MEO's SP slowly slid).
So how is it that the SP can be worth almost half, post farmin than pre?
Increased risk - No?
Quality of the deal? - No, Over 200mio back in MEOs pocket -Size or exp of partner - No, 5th largest oiler with best practise deep sea exp
Future hurdles - No, the same future hurdles existed pre farmin
Cappers - maybe partially, but I don't think so for the larger part
Pace of deal - maybe - seems to be the most logical answer imo. A series of false starts and delays could not have improved trust in management and maybe moved a many potential SHs to the side.
(I personally think management have done a solid job)
Other thoughts?
Anyone MEO SH that is happy with the performance of the MEO SP...
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