It's not just a game of dry or not. If one has decided to remain a holder of MEO right through until after it is drilled then perhaps yes that is the case. But right now since there is uncertainty and a POSSIBILITY that it is NOT DRY, then a value must be ascribed to that possibility.
i.e. It's a game of basic high school probability.
If something has a payoff of $100 and there is even a 10% chance of it paying off then basic maths says it's value is $10.
So (to some extent) I don't care what Artemis is worth post drilling. The point right now is that the probability of success multiplied by the huge value it has (assuming successful) is not even close to being reflected in the share price right now.
I'd like to think that even before we get drill results, that the market starts to better reflect that possibility in the share price and rise rise rise
MEO Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
