Hi Iam. Although I am a Long Term holder of Meo shares , it does not mean that my stock holding is dormant. I buy when I think the price is low , and I sell when I think the time is right. Like you suggest , I have averaged down over the last 12 months , as well as taking some profits. IMO , Meo is a fantastic trading stock. It is a spec stock , but unlike many, the actions of Management have built up the cash position to where Meo will now always survive. I was interested in your fall back share price of 35 cents if we are unfortunate in the result of the drill of Artemis. This was before the latest cash which reinforces your estimation. It would be hard to envisage Petrobras walking away after one drill. Meo certainly is not a one trick pony , and if the worst happened , like as before it would rise from the ashes like Phoenix. It would have been nice to see the Cash Raising due to a Major Shareholder emerging , but this may still happen in the future. The latest cash raising was only disappointing IMO in the price of 52 cents. When you consider the earlier cash raising was at 45 cents and was prior to Petrobras being named , and now the 52 cents was on the eve of the drill commencing. Like many other Long Term holders , my decision over the next few weeks is how many shares do I sell prior to the result of the drill and how many do I hold for the future. Iam , I enjoy reading your posts. Good luck to all. My thoughts only. Do your own thing.
MEO Price at posting:
58.5¢ Sentiment: Hold Disclosure: Held
