# daily update #, page-2

From where I see it, this has now turned into a waiting game.... Like a game of blink, the one that can hold out the longest will win...

MEO had to go to the trading halt to force CUE to disclose that they were the ones holding out.
MEO and the PF IMO will continue to hold out now until towards the end of Q3 in an effort to force CUE to show their hand (in the face of declining SP).

If still no dice by Sept then I expect the 85% scenario to play out or worst case for MEO to go it alone. I'm speculating that both MEO and the PF are prepared to hold out as they are not going to drill until Q4 and the extra that CUE is demanding must be worth playing the waiting game for...

I don't think MEO management will be too worried about the SP in the interim as the intrinsic value of the company remains unchanged....

The above scenario bodes poorly for the short term traders but provides a fantastic scenario for the long termers that should be able to pick up MEO at ridiculous prices by July/AUG.....

Hope I'm wrong but I thought this was coming since my first post on CUE a few weeks ago....