MEO (ASX) mog announcement

Originally posted by ronstieb ↑

Thanks for the info ronstieb.

My apologies if my conclusions about the acquisition of Gascorp's 15% by MOG appear one-dimensional but questions have been asked in the MEO forum since MobyOil's bid for Rankin Trend from Gascorp, and information to put our minds at ease has been hard to find.

MEO had just announced an extension to the negotiation process (25 September) and the MOG acquisition of RT (29 Sep/6 Oct) came shortly after. There was a feeling that because part of the group (RT) was a private company then, for the farmin transaction to progress, it may have been a requirement for RI to become a publicly listed - a continuation of the speculation surrounding the farmin process.

Not being acquainted with MOG I decided to research the company to find some answers about how the acquisition could affect MEO - if at all. I was surprised to find that there was not much information available on the MOG website apart from previous ASX announcements which weren't much help so I gave up.

The only pointers that came was from the amendments and memo's released to the ASX since the RT deal and when Prawno and Ya brought up the subject of MOG's transparency/inefficiency again I went back to my research.

I suppose I could have put too much emphasis in the independent DMR report embedded in the memo but that was the only place a few answers could be found. It is difficult when confidential negotiations are in progress and various other complications arise. This leads to shareholders being kept in the dark. This is when rumours start but companies can easily stop this by being open and frank in making information available to their present and future shareholders.

I am sure the information you shared rontsieb has given us here in MEO a glimpse as to where MOG is headed. Albers' suite of companies appear quite complex.

Like you say it is in both companies interests for a successful outcome to the farminee negotiations. I hope this is so because I know there are quite a few MEO shareholders who also hold MOG.