my take on the situation, page-8

Hi iam,

Very well said indeed,

One more thing I will add is that A-1 is a quick and easy lead for MEO in that it will be drilled and if there is gas will be a big instant kick for MEO, Petrobas takes the lead from there and spends big while MEO and MOG and CUE reap the benefits.

Tassy shoal and the NT permits on the other hand offer a bit more technically challenging environment, with countless opportunities for a company like MEO to capitalise on. for many years to come once up and running.

I believe that the true value of this asset and it strategic positioning in relation to the lack of infrastructure in the area has yet to be realised by the market. In fact it barely exists on the radar of most watching.

So all is not pinned on A-1 success, although it will help.

Jurgen, and he board have in my opinion shown they are many many light years ahead of their peers in other small caps and even majors.

They are extremely talented, have many years of corporate and geological and other engineering experience ready on hand,

AND

have shown the market that they are very capable managers.

Both strategically and economically. It is easy to let greed run you over and pollute your decision making processor, just to make the SH happy short term.

IMO the board has found that correct mix of appetite for risk and some degree of safety back-up planning.

Last year when MEO raised circa. $40mil to attempt to drill A-1 alone after Zeus-1, MEO was really only setting itself up as a one hit wounder.

Today, MEO has a super-major as a partner free carrying it at A-1, still retaining massive upside if there is success, and still walking away with the 'head held high' if gas does not show.

US$32mil worth of 'head held high' in fact even if there is no gas.


So I for one give JH and the board a 100% tick of approval.

Stick it to the TD and the ST from time to time.

MEO is on its way to being a serious player.

it has it all

-management expertise in all areas of finance, geology, engineering
-solid balance sheet
-solid projects
-great super-major oiler as a partner
-other small caps dreaming to be like MEO
-great risk / reward management plan in place

All it needs is SH patience and the rest will be history in the making hopefully.