If they hadn't reported gas this morning I'd have been worried. Gas was expected at this point in drilling and it was encountered. So far everything is going to plan.
If this well works out as expected it could turn out to be a company maker for MEO because it will very likely bring Tassie Shoals into reality.
If this well doesn't cause MEO's share price to increase ENI will probably take them over. It'd be much cheaper than paying MEO a $75 million bonus on FID plus having to buy into Tassie Shoals.
MEO Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
