I've been on the MEO rollercoaster for around 2 years now having bought and sold a few times on the way. With o & g speccies as we all know the risk return trade off is at its highest i.e high risk high reward - this has really been driven home with the Artemis 1 drill. Whilst Artemis 1 has been a major disappointment to date like many here I don't think this is the end - I have emailed the company to see when we can expect some results from the wire logging. Its not comparing apples with apples though BUY released data 2 days after their failed drill.
When we have some results the decision could be do we look for opportunities elsewhere or continue to hold. (buying more is not an option!) I have received no response from the company as of yet (emailed 3 days ago now) though IMO this announcement should be "imminent".
Regardless as to whether you are a long termer the opportunity cost of doing nothing can be high as capital could be put to use elsewhere - the dilemma of investing.
I think the long term prospects of TSLNG & TSMP are excellent particularly as we enter an age where carbon dioxide emissions must be dealt with. Why waste CO2 through geo-sequestration when it can be converted commercially into a useful product i.e Methanol.
I'm looking forward to some more information on results of logs aswell as something(anything)regarding Petrobras intentions going forward before making an informed decision on where to next.
end of ramble
DYOR - If your research consists of reading other peoples research is this your own research?
MEO Price at posting:
21.0¢ Sentiment: LT Buy Disclosure: Held
