MONTEC, I can understand your point of reasoning and can wholeheartedly agree with your grievances towards S/P and management , and i am sure a whole lot of previous holders feel the same.
As you are aware. O&G is a risk appetite business, one can only assume that if all ann were complete positives, this thread would be snowballed with a lot of smiling sentiment scenarios, but that's wisdom in hindsight.
As. Stated on my previous post, my wisdom is on foresight for MEO with its GLOBAL partner ENI, from here on to ensure maximum success for the company and S/H in 2013 and beyond..
So in a world where we should not love stocks, we approach MEO on a T/A perspective and that indication in the medium term for any serious consideration of its prospect would be a Clear break above the 30c level in belief that momentum is starting to turn. Prior to that level in S/P will all but be speculation and traders aiming for a fast buck or two, and nothing wrong with that.
It appears on GLOBAL market psychosis that the indices are in for a fall in the short term, so it would be interesting to see what eventuates with MEOs S/P, im sticking with my estimates that the stock has stabilized at these current levels and its all upside from here iMO...
AS for not falling in love with a stock that's true, but the MAJOR blue chips were unloved in 1999-2002 cycle. they were called BLUE CHEAPS apart from the MAJOR resource stocks , the Bank stocks have risen in value dramatically. (esp. CBA), as an example. Some of the resource stocks back then were penny dreadful, PDN QGS KAR SMY and others that have risen in value or have been subject to Takeovers, . Without gasping let's see what unfolds for MEO between here and DEC 13 2013....GLTO...
MEO Price at posting:
7.5¢ Sentiment: LT Buy Disclosure: Held
