is the blackwood delay a good thing..., page-6

"Why no takeover before now"

IMO because there is more SP pain to come and the TO suitors,if there are any would know this.

I doubt there will be any farm out ann of anything before the quarterly. The quarterly will be brutal, no doubt about it. IF and it's a big IF, that Heron and Blackwood are upgraded it won't be until all this has played out.

ENI hold the key to the upgrade with the recent Heron drill data and Blackwood 3D seismic. They are not going to release this early and shoot themselves in the foot by helping MEO to increase the SP.

MEO have backed themselves into a corner with ENI. If I were ENI I'd be positioning to get 454, Heron, Blackwood, TS and Indonesia for small change.