Well it's been a milestone achievement for MEO today. We finally had that long awaited announcement and the marriage was with Petrobras. There you go,it's a funny way to spell Statoil , Jack!
Maybe MEO have Statoil lined up for Tassie Shoals very shortly since Statoil are the masters of Methanol...you never know!
That would be a master stroke.
MEO will no longer be classified as a "Minnow" by the likes of Business Spectator and others...game On and derisked with cash in the hand to boot. MEO is now going to be taken very seriously by all and sundry in the O&G business.
Brokers will now take this more seriously and the Insto's and other major investors will sit up and take notice of MEO.I would expect the SP to move upwards until spud date on the strength of upcoming announcements with other MEO plays...now that it has an aircraft carrier looking after and guiding the health of our previously described "leaky Boat".
This is a major milestone in MEO's future pathway...especially since the recalitrant minor partner was bypassed for this deal to be finalised. It is now the PB/MEO/MOG show. Yes Jack, CUE may have some regrets up the track...it may come back and bite them on the backside for the delaying tactics.
Today has enabled a lot of trapped shareholders to sell and live another day and it has also enabled others who trade to take a profit and buy more MEO shares in due course. But the significant point is that for the long term die hards ,who have been through the grinder and hung on , your extreme patience is well on the path to earn you that multibagger you have always dreamt of but seemed so far away in the past...You deserve every dollar on your cent investments that you get..you have all suffered to some degree...IT IS YOUR TIME NOW!
For now,the Euphoria should have subsided and now is the time for the REAL work to begin on the MEO story..the company maker story. The script,now, needs to be edited and published and put out to the masses as a best Seller...before Xmas this year.
Maybe Jurgen and Co could send all the long suffering SH's a personally autographed copy of that Company making announcement on the day of the positive Gas flows from well 1,2 or 3.
Another poster today said that after he did the research on MEO he decide to invest in MEO on the strength of the Tassie Shoals future development.Well I did the same. Artemis was always going to be a farmout to a major for a 20% stake.Tassie Shoals was a different story.
MEO can now complete the farmout process with this having put to bed the Artemis farmout..finally. Statoil involvement with this would be a major coup for MEO in terms of a REAL company making proposition.
Think about it:
1. Petrobras involved in Artemis and upstream LNG processing.
2. Statoil involved in Tassie Shoals Methanol production and distribution.
Apart from the above ,the other bonus is that MEO can now go ahead and secure some of those targets they have been looking at to aquire and bring on stream for short to medium term cashflows.We will,IMO, hear more about these shortly...however long "Shortly" is?
So in conclusion..It's been a great day! There will be more to come. The real game has started. Most of us know the fundementals back to front by now..by default via the waiting process..Now is the time for the ACTION to start.
Forget CUE , forget MOG it's the MEO show! Petrobras is backing that show and it wants to make a profit and support the cast with payments.
As good as it gets.
I can now safely say that I consider any future money I spend on MEO shares over the next three months to be a pretty safe punt until spud.
That's my take on it all today..there were too many posts to read so I will now go and finish my cerebratory drink and go to sleep knowing that MEO is significantly derisked and the deal is actually going ahead.
I might think about a new KAR in my sleep.
Cheers Dears!
Have a great week and I'll have drink for all of you..might take while!
Disclaimer: Only my ill founded,under the influence of some fine red plonk, opinions expressed above. Believe it or not!
PS:
I must hold my tongue in future and curtail my propensity for profanity...Blurrt wher are Ya?
MEO Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
