Not surprised that analysts would b comparing MEO & KAR.
KAR are planning to drill 3 wells & targetting similar sort of gas reserves 5-8 tcf/well in their acreage in block WA314 & WA315.
Luckily they've farmed out to CP aka Conoco Phillips (not the good Doctor Palmer) & estimate to spend 72m out of 270m as part of their share for a 220day drill program.
There SP is sitting easy at $3.50 & may head north once drilling begins.
Compared to them, MEO have good data, nearology to giant gasfields & still looks like the poor cousin.
Time that changed with Z-1. I'd say 5-6 weeks time we should see the real picture emerge.
MEO Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
