Compare MEO to MMR. MEO is drilling Artemis in an area where gas...

Compare MEO to MMR.

MEO is drilling Artemis in an area where gas discoveries are common and the geology is well understood. 28 oil & gas majors expressed interest at the original farmin
which was won by Petrobras because of the sensational farmin deal they provided. Petrobras is one of the largest oil & gas companies in the world. They got that way by taking calculated risks on large prospects. They can afford the best geologists and certainly would have done due diligence on Artemis. As Blue Horse Shoe said today that wanted it at any cost. Everything is running to schedule with the Artemis drilling.

MMR is drilling PEP11 off NSW. There has been very limited (if any) drilling in this area. No one was interested in farming in. MMR had to go it alone in raising the funds to drill one well. In fact BUY is the holder of PEP11 and has farmed out 85% to MMR to be free carried for the well. BUY has had this lease for at least 10 years. Hardly a resounding endorsement from the oil & gas industry. PEP11 was supposed to be drilled in August but has been continually delayed until now sometime in December.

But the amazing thing is MMR's share price is going crazy while MEO's is as limp as. If MMR does make a gas discovery they will have to do further capital raisings and/or farmout to drill follow up wells. If MEO makes a discovery they get $31.5 million plus are free carried for another 2 wells.

I just can't understand the present share market. Considering the high probablity of success with Artemis I'll gamble of drilling rather than sell out at 56c.