No doubt, jh aka the christmas grinch, would be smelling the roses after this week and will need,imho, to clinch at least two of the four farm outs underway in the immediate term. One of those, seruway ibu horst, is well overdue and i cannot, imho, see any major drill beehive on 2d data interpretation based on an meo story so beehive probably requires 3d which means circa another 18 months to date of spudding to allow time for the full process....
Daz has mentioned tap's thail success near meo's thai acreage. However, i note tap's sidetrack of the same hole was deemed unsuccessful last week.
That leaves ashmore. As per my earlier posts on ashmore, this has the potential to be a game changer for meo. So much immediate activity in this area, however, meo farm out not due to conclude until end q1/early q2.
That leaves a TS deal which, imho, will come, but will it come in time to satisfy our chairman. Imho, ES has only one commercially viable option but many jv partners. The jv partner bit will take some time for all the ducks to line up and it is this bit that is out of meo's control but not influence. That is, meo can put heat on aka influence shell divesting by naming firm ts equity partners, and hence firm buyers of es gas, via an asx release. When will such an asx announcement be released? Well, by this thursday, hopefully we can say some time this year.
More on ts soon.
Happy new year to all.
Adl
Disclaimer - i am ambivalent about jh, imho, only issue i have is guarme not following long standing, and market/this investor's understanding of, meo's standard business model.
MEO Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
