not a bad week, all things considered., page-4

The new management team took the reins in 2008 and during that time we have drilled Z1 and A1. Unfortunately both came up dry. These results are no reflection of MEO management or technical team. As JH has explained, the final stage of a very long and technically intensive and expensive exercise is the drilling.

The fact is most wells spudded offshore are are dry and cost the permit owners 10s of millions for no return. That MEO managed to have the A1 well drilled at no cost and still pocket upwards of 30 million as a sign on bonus speaks volumes for the MEO team.

MEO have no real control over the SP or market sentiment however prior to the CR and A1, cash value was about 7c, it's now 18/19c. I think this shows an astute management team with the company longevity uppermost.