As we get closer and closer to drilling the sell down risk will diminish and MEO will be an increasingly attractive "bet" for the traders.
The longtermers that understand the relatively low risk of Heron, and can see ENI's game plan will not be selling.
So we will have a squeeze, lots of buyers, few sellers. We had a premature sprint the last couple of days, but the marathon will be starting shortly.
The key thing here is that the basis for a rerating of MEO is FUNDAMENTALLY SOUNDS.
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