Rampant posters on this thread told us that MEO represented great value, even at 60cents plus.. Hotrock told us his hot shot son, a finance student and his mates were all over this stock like a hot potato.. at the time I snickered to myself.... they have now been proven to be too emotional about MEO, and or did not understand the proper valuations behind the stock...well I thought I did, and then it ran from 10c to 70c plus, so there you go... it was clearly evident to me that multi hundreds of millions of dollars in market cap for exploration staged projects never represented value investing... not even close...
that was the basis of me (at the time) calling this perhaps one of the most expensive exploration staged oilers in the World... mid drill, MEO is only worth approximately what it is trading at now... BUT, the powers to be will dictate what it trades at... thus meaning, the real value of this company will not be reflected in the underlying share price...
so technically this stock could trade anywhich way... ....not how I want to do business...
rule of thumb, never pay more for something than what its worth....And if you think a couple of permits are worth hundreds of millions, then investing is not for you...
its going to be a steller run on the markets over the next few years as we are backed up by growing Asian giants... dont be stuck holding the baby when MEO bolts on drilling progress... the best value represented to buy this stock could likely be post discovery where returns have not been pillaged by those powers to be... have a great week... riding cowboys... yeahhh harrggghhhh .^sc
MEO Price at posting:
39.0¢ Sentiment: None Disclosure: Not Held
