drilling aug/sept, page-8

Amel,
Good question, but we don't really have a clue. The table below is what MEO provided as their summary of farm-in candidates.
It tells MEO investors when they expect to conclude, how many interested parties are involved, the proportion of majors etc, without breaching disclosure. It makes it clear to all particpants that there is plenty of competition. I think it is an excellent example of how to provide information to investors.
Certainly better than "JV discussions are ongoing".

10mc, the problem I have is it is now August, the drilling schedule was due in June and we don't have it. If you have faith that they will drill in the next month, that's good, but I now don't and it seems that plenty of other holders don't either. The impression I now have is that they don't have a clue when they'll do some more exploration.

Do you know why they need the convertible bonds? I can speculate, but I don't know

I still think that CTP is a company with great potential and I don't intend to sell soon, but they have our money and IMO owe existing stockholders a better information flow.

From page 10 of MEO investor update of 23 July.

Progression of interest	Majors/National Companies	Total Companies
Reviewed summary	26	70
Signed confidentiality Agreement	17 (65%)	26 (37%)
Visited data room	12 (70%)	17 (65%)

Data room closes 14th August –Expect to conclude farm-out this quarter