I think this is base deal that everyone expected, ie: Free carry on wells, re-imbursement of previous costs and some 'change'. To expect any more from this base farm in was pie in the sky type stuff. Considering they have their $40M in the bank, following approval another $34 m odd, free carry with drilling to start late 2010 I think MEO are in a strong position. That being said, no mention of LNG plant as previously highlighted, I wonder if other news may be soon forth coming?
MEO Price at posting:
44.0¢ Sentiment: LT Buy Disclosure: Held