credit only where its due

One cannot help but wonder (to put it mildly) how and why can some MEO shareholders are heaping such unrestrained praise to MEO's management.....
Let's for a minute be realistic and allow logic to prevail.

MEO (with its Partners, MOG-CUE) is the owner of one of the most exciting Gas prospect in Australia's North West. It's called Artemis (....for those who may not be aware of its Name...). According to some expert estimations Artemis may contain as much as 12 tcf of Gas, a mindboggling figure worth billions of $$$$$.
The Area (North West of Western Australia), is one of the Hottest (literally and metaphorically) Gas-Oil regions in the World today. Tens of International MAJOR Oil-Gas Companies would do (almost) anything to be part of such an exciting Prospect as Artemis is.
This needs not analytical explanation. It was clearly exhibited last year when MEO asked for interesting parties to make Offers of Interest (Farming in proposals). Tens of Multinational Companies expressed interest.
The interest, as expected was immense. MEO was obviously on the box seat. In a vantage position of unparalleled NEGOTIATING strength.
We were led thus to believe, by non other, but the MEO management, when they finally made the announcement that they had chosen the "preferred farminee" from amongst many contestants for.....Helen's (sorry Artemis) favours...
Now, one who has the luxury to select a potential partner from amongst a plethora of contestants, as MEO had, obviously choses carefully the "background" the qualities and the offer of all "suitors"....
IF MEO's Management -as it appears by the disastrously unprofessional failure to meet deadlines and promises CONTAINED IN ASX ANNOUNCEMENTS- made the wrong choice, OR showed insufficient managerial expertise in their "screaning" of their "Preferred Farminee" and its offer, We shareholders are the least to be blamed for.....
We have just demanded what the shareholders of any Publically listed company would have demanded. The Truth.
What is REALLY going on between MEO and the "Preferred" Farminee, who, STILL remains anonymous, as if.....AS IF.....They ("Preferred Farminee'"......God help IF the Farminee were not to be a....Preferred One......) had something to fear by divulging their Name.
Granted, they chose not to make their name public as part of the initial negotiations.
But, those initial negotiations, also TOLD THE MARKET several times that we would have known who the Farminee would be by no later than end of last year.....
If (as it did) that Date passed (plus 2 more months and a week tomorrow), obviously the management of MEO should have had every right (remember? our new Partner Was the Preferred Farminne, We had the Right to pull at least some strings)to say: "Sorry guys. We (like you) have shareholders and GOVERNMENTAL AUTHORITIES to whom we are accountable to. You must understand that we CANNOT KEEP LYING TO THEM. WE have to give them, at least some indication as to whom are we Dealing with, and Why our agreement is Stalling".....
Has MEO's management thus do? No. They came up with one more announcement (about a month ago), to appease "irate shareholders"......They used the very vague expression "minor issues" to justify further delays and God knows what else.
The characterisation of an issue as "minor" in business terminology means exactly that" Minor. Insignificant.Small. Unimportant. Petty.Trivial. ......
Yet, it can also have, arguably a very subjective suggestion...What is minor to you, it can mean extremely significant a matter, an issue for me.
Obviously, either to MEO's management (but more than likely) or the "Preferred" Farminee, Minor Issues mean Issues that are almost of insurmountable nature!
How else can explain the time (one month already gone) such "minor issues" take to be resolved?
Remember: This IS NOT the First "unforseen" delay in MEO saga, in our Artemis love affair with the "Preferred" suitor.....

Which lead -to conclude- many a logically thinking shareholder to ponder: What is the Difference between a Preferred Farminee and a non Preferred Farminee?
Would we perhaps have already finalised everything had it not been a "preferred Farminee"?
What are Jurgen's and Co. criteria for determining the Ultimate status of our future Partner as a "preferred Farminee"?
Why, being a "Preferred Farminee", and realising the justifiable Frustration of MEO's shareholders (after months of Delays and false starts) does not our Partner agree to the release of some sort of a Progress (progress? What progress??) Report to the Market?

Honestly, I would hate to have a Non "preferred" Farminee after witnessing what we are going through with the "Best" of what seemingly (so Jurgen judged and tells us) was offered to MEO.

Cheers:))