In May 2000 MEO was trading at 33c (ASX code TSP) and in May...

In May 2000 MEO was trading at 33c (ASX code TSP) and in May 2010 MEO is trading at 34c.

With so many positives to come out of this farm-in agreement and considering the LOW LOW SP, this can only mean a LONG TERM BUY BUY BUY!!!!!!!!!

Waiting for FIRB approval with open hands.....

'Key terms of the farm-in agreement include:
- Petrobras to earn 50% equity in WA-360-P by funding 100% of the first well to a cap of US$41m (MEO retains 20% interest)
- Upon receipt of all regulatory and Australian Government approvals, including Foreign Investment Review Board approval, Petrobras will pay MEO a cash bonus of US$31.5 million and reimburse MEO�s share of the past costs of approximately US$7.5 million
- In the event of a successful discovery, Petrobras will carry MEO�s share of the cost to drill and test two follow up wells in the Permit to a cap of US$62 million per well, together with payment of an additional US$31.5m cash bonus in January 2011
- MEO to remain Operator until the completion of the first well after which Petrobras has the option to assume Operatorship'