dr daz, page-7

Actually jonesy, historically, that has been 'buy the rumour sell the fact'. These days the less risk in the market has led to a buy on fact and sell on fact trend - which, sadly, makes it tough for the small caps. Look at how even some of the small, revenue generating gold stocks are getting smashed at present with an up trending gold price...

FAR finally farms out senegal and nothing happened - no cross posting intended just a relevant example as to how tough a marker of value the market currently is. FAR finds oil in 2014 the sp goes but if not? Well, we meo hoders know the answer to that question oh too well...

That is why, as per my recent post, when, imho, ENI agree to work towards shooting more 3d at heron i will not be surprised if the sp dips tomorrow/short term, as 3d just means more time before the next heron (north please!) drill.

I do agree with PaulB that Seruway is meo's best chance to signifcantly raise liquidity by a full divestment; a 10-15% equity carry on one well would be a bonus. The fact that the meo has engaged rbc is a pretty big slap to the face of the md's professional standing within meo - so for thse looking for some blood, the md's nose still has tissues hanging out both nostrils!!

I would like meo to stick to the local turf - the 454 farm out has huge gas potential relatve to blacktip - from memory, and it has been a long day in politcs today if you will pardon the pun, is 7 or 8 times the size of blacktip.

That still leaves four wells all next door to blackwood / TS to be drilled this year, including the TS motherload aka Evans Shoal. Blackwood then follows ES and, imho, Blackwood has a much higher cos of flowing gas than hs1 due to, amongst other things, 3d shot and analysed by eni in 2012 and the fact eni still farmedinto blackwood after spending $120m on hs1....

Good night.

Adl