This places a lot of pressure on management to really elucidate their go forward strategy, just saying for future projects is not good enougth. In any case, I wasnt selling pre-spud after having hel on for so long, and the Board has shown itself to be fairly risk averse, so in any case this may mean any upside post-drill results are capped but also the down-side capped as well with a fairly significant cash backing.
MEO Price at posting:
58.5¢ Sentiment: None Disclosure: Held