Judging by their release today BEL seem perfectly happy to hold...

Judging by their release today BEL seem perfectly happy to hold thier investment in MEO.

* P2 - BEL Investment Strategy *

MEO Australia Limited (MEO)

The Company can report pleasing progress with its investment in ASX listed natural gas explorer and developer MEO, in which the Company holds a 5% interest.

Since making the investment, MEO has added substantially to its oil and gas exploration acreage portfolio, recently adding new permits in the Timor Sea and Indonesia. MEO has also secured a landmark farm-in joint venture deal with Italian energy major ENI over the prospective Heron gas field in the Timor Sea.

MEO's current market capitalisation is substantially underpinned by cash, and Bentley continues to hold the opinion that there is considerable upside in the value of MEO.senergy assets.

I think MEO will be keeping in touch with their #1 SH who, in turn, sees the upside of MEO, just as we do in this forum.

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