OOpeekClearly there are risks, I also have come to treat any MEO...

OOpeek

Clearly there are risks, I also have come to treat any MEO announcement with more that a few grains of salt. But it is illegal to lie in ASX continuous disclosure announcements. and from what MEO have announced we know the following:
1. Commerical terms and conditions finalised. Perhaps there has been a heads of agreement signed? But in any case Board approval for country presence, not commercial terms, was outstanding till today.
2. International "major" gas and energy company- I would think if you can use the term major this would cover off on financial capacity and expertise.
3. FIRB approval- 50% stakes in greenfield projects come within current FIRB guidelines- Chairman was very confident approval would be granted at the AGM- again trust this if you want.
4. Drilling programe- once again i would think you dont state to the market 3Q2010 drilling without doing some preliminary inquiries but who knows...
5. Is there gas? the million dollar question. If a major is committing to a US50-80m (?) commitment then there must be confidence that this is a good prospect but without a geology degree im thinkng it tough to DYOR on 3D seismics.
I thought we were coming therefore to a risked price target in the short term?

anyway a case for the positive.