So I have rested and come back with a few positives and also reflected on what has been written over past few days...
A little extra cash at a minor expense soon to be forgotten about by historical results is a good thing, particularly while we don't have a production income.
Extra global excitement and "getting the MEO name out there" is an important step for a company about to go big.
They are paying MEO to get the MEO name out there... That's smart marketing!
A greater global presence gives Petrobras more confidence with its currently miniscule partner MEO in comparison.
More Petrobras confidence makes it easier for their executive teams to get more approval with MEO downunder, perhaps more projects, perhaps even Tassie Shoals.
30 million is enough to spend on some good things... - Additional 3D seismic surveys (which can be recovered again later through a farmin) - Additional plots - MEO openly says they are looking for new projects all the time - good to have cash up the sleeve - Even enough to drill on their own 100% owned Blackwood (ideal for a TS project and nice to own 100% of a proven gas field - ie this was intentionally not farmed out with Heron)
Yeah I am feeling more positive about what has transpired lately. My lack of maturity in comparison to MEO mgmt will not be a limiting factor for them moving forward, not that it ever would have been. You have my support Jurgen and I will continue to pay for your coffee for the next 12 months...
MEO Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
