Thanks for the great post. I was also at meeting and have just returned home (4 hr drive). Was there early & met Jurgen and discussion was centred around the most important issue being time critical nature of drill committment. He appeared very happy to have completed cap raising to ensure Artemis timeline is now risk free.
Some notes I took at the meeting were:
- 26 companies visited data room with 17 meeting face to face with MEO for a full day or more of discussions.
- WA 359P will most likley be dropped due to unattractive seismic data.
- FIRB have never rejected a foreign co for a farminee (as opposed to a takeover). Jurgen described FIRB risk as 'miniscule'.
- Dave Maughan (MEO Geologist) did an excellent presentation after meeting closed and described Artemis data very well which provided me significant confidence. He was clearly excited by the prospects and advised that if current data was updated, risk would increase from 32% to 42% which he said is very high for this type of prospect however he did go on to say that we need to remember that this means there is still a higher chance of failure than success.
I came out of the meeting with renewed confidence (I have been reading too many HC posts lately) in MEO prospects and particularly the board. Jurgen made a very relevant point that hindsight is easy when questioned about why a cap raising wasn't done earlier.
Cheers
TT
MEO Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
