meo info., page-3

One of my rules of investement..never accept advice from family and friends.

What exactly did your friend do in the oil and gas industry? No disrepect intended but unless he/she's an Exploration Geologist or a Reservoir Engineer and was directly involved in the project then theyre not a reliable source of information on same.

My thoughts on MEO? They drilled Evans Shoal and found diddly in the primary target (Darwin Fm) upon which the whole methanol project was originally based. They tested the Elang Formation and got nothing and then tried to flow test the Plover Formation but couldnt get a test off. They then declared that they had sufficient reserves in the Plover to go ahead with construction of a concrete/gravity production platform...this alone sets alarm bells ringing in my head.


Take a punt on MEO by all means but do your homework first. IMO the project is high risk venture and assigning reserves to a reservoir without a valid flow test is high risk stuff.

Cheers