Care to lay out 'pizza special of the day' with regards to big announcement brewing.
Can only be one of many things but here are a few ideas:
- 454 3d upgrade to circa 2tcf p50 based on very lengthy agm tech video insight/hints, heron circa 6tcf based on two reserviors and no gwc, and Blackwood (going out on a limb here) a massive increase to circa 3.5 to 4 tcf based on eni's darwin preso In oct/recent eni map slides. There will also be a new focus on how new frac techs can be used to get heron north and Blackwood to flow at commercial rates....
- tassie shoal update re formal midstream investor interest with all eyes on ES and for meo the higher the co2 content the better if you get my drift...
- updated brokers report with a mid to low 20 sp valuation based on eni extensions, 454 and seruway farm ins...
- capital raising but highly unlikely as meo execs have fingered crossed not needed until sp bounce post heron, and/or Blackwood and/or 454 positive announcement.
My hunch is late dec / early new year for a slide pack update to stop sp sliding down to omg 5 cents.
There is good money to be made or recovered with meo over the next three to six months. Meo will have no choice but to do and say everything possible to get eni to stay on in the current JV and have every hatch battered down leading up to feb 5 'd day' and this must include locking in a Jv deal for 454 which sadly the only cab on the rank ready excluding the ts ip. Hence it all comes back to eni and whether they want to play and if so how nice they want to play. Hs1 cost nearly twice as much as was communicated and they can now pick up meo for half the cost of drilling hs1... Mind you who the hell spends a$110m on a well based on 3d seismic shot 6 years ago and chooses to drill to the south when the heron pay dirt was to the north? No doubt similar droughts of questions now being asked and lots of goes sweating from the brow...
Enough for tonight but u buy when there is blood on the streets and happy to buy on dips even if more blood to come as I don't want to get caught out by those Italians making their big call sooner than anticipated.
MEO Price at posting:
6.8¢ Sentiment: LT Buy Disclosure: Held
