I bought MEO not only for the Heron and Gurame Drills, but for their back up as well. I hoped the backup's would be value add, *sigh* but there you have it.
I don't expect a lot of movement except for those accumulating and others seeking a low priced speculative opportunity. There will always be trading games, no matter where the price stands.
What deals can be done and what farm in's can be procured may in all probability see a further small rise. Yielding a possible nice profit for those entering at this gloomy time.
The thing that gives me most solace for SP recovery is TS, it is a tangible asset, albeit at this time MEO is not in the power position we all hoped for. It must be remembered though MEO do have it and others do want it.
We can argue and speculate all day as to what TS is actually worth, who will do what, who would benefit from such, who will want to utitlize it, etc etc etc.
One thing that the vast majority agree on is that it is of worth to a number of majors in that area with attractive savings even for them. This is the main reason I have stayed, objectively, what the end value may turn out to be is also anyone's guess at this point. I do know if such deal/s are done then it may turn out very profitable SP wise, certainly compared to today's price anyway.
The rest will be cream or not depending on what fate has in store for Blackwood, 454 and the holy grail, finding THAT sweet spot at Heron somewhere if ENI are still game.
MEO Price at posting:
7.5¢ Sentiment: Hold Disclosure: Held
