MEO now has the capital to drill. So it is highly unlikely they would default. Just the sp will crash medium term until they go back to seek another partner. (As MEO does not have the technical expertiser to drill/do it alone). Then MEO will pop again.
If MEO can pull the rabbit out of the bag this week or next week and DO the deal = both MOG and MEO win. If MEO does not do that quickly MOG is in trouble with it's RI. (Closing date 14th Dec and not doing too well by the look of it. Hence Alber's desperate appeal to shareholders to part with cash!)
MOG is going down unless MEO does the deal. The other drilling sites of MOG are VERY high risk - I think 6% chance of success. MEO is by far the better company IMHO.
Held up well today. Good sign. Big buyers on register over past months still in - also a good sign.
Mgt is the real concern. If they were ramping I would be more worried. Silence tells me maybe the rabbit is coming! Time will tell and everyone must acknowledge the risks. This stock is for punters/traders IMHO!
Good luck to all!
Any thoughts Orgone? I notice the thread was full of rampers - then those bagging mgt (like myself righly so IMHO) and now the thread is as quiet as a mouse. Maybe those rampers are now out?????
MEO Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
