Well done, you summarised it really well. Market is currently low and hence any company without a cash flow will be hit hard (as MEO has been done)
Now Zeus is looking good and if they find gas - yes the SP is bound to go over $1. If Zeus does not bring anything the SP wont go down, as the acerage alone is worth alot of value.
My sources and I (for that matter)work in Mining M&A project with my sources in Oil and gas M&A's - the indication are that a few big lads (some names have been mentioned before) are keenly watching MEO. I have seen some documents that have 3 options of aqustions (1) Public Hype during drilling (2)strategy if Zeus come trumphs (3) Strategy if Seus comes in dry. All strategies suggest a price higher than the current 12 c mark. (Again this is only from 1 3rd party)
Now in regards to the rig - i hear there is a delay until 10 Dec. Management seem to be quite confident about this date and hopefully will issue a statement soon. I also hear they have some information witch will be shared to teh public about the land acerage and holding and blackwood seismic info later on during the drilling program.
I hold and am proud to do so. Wood side is just around the corner and need a large reservoir for the NW shelf - so Zeus will come in handy for meo when it produces.
Good luck all and things are about to pleasently change for us all
MEO Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
