Well done on your post Nobbo! I put myself in a similar boat to...

Well done on your post Nobbo! I put myself in a similar boat to you.

Too much finger pointing and blaming on this forum of late. Human nature I suppose when hard earned cash has been risked, and the ultimate success is not achieved.

No flow at Heron and Gurame production tests is not good, but the results to get to that point for each were very encouraging, and will have provided a depth of knowledge to MEO that seismic simply cannot provide. Rather than join the negative chorus on this forum, people could also look at the potential positives achieved in these wells, which may aid future success if/when follow up wells are drilled. Who really knows until the information is properly assessed by the company and advised to shareholders in the coming months.

As an example of looking at things from a different slant. The ENI Blackwood decision date extension can only mean one thing to me, that whilst ENI planned to drill Blackwood, the results of HS1 and the potentially much larger resource now at play, may have ENI wanting to have another crack at Heron prior to Blackwood. Either way I think one of these will be drilled by ENI in 2013, otherwise they would have walked away from the farmout already if it was such a disaster as everyone seems to think. Just my opinion.

I agree that the recent history of less than best results with MEO drills will not deter future farmout partners. This is the industry, it really is a numbers game in the end, and the more permits, farmouts, and potential wells, then the sooner success will be achieved.

There's way too much potential in all of MEO's other assets and permits for the SP to be where it is today. They will recoup back costs in farmouts and reload investor potential with new wells in 2013.

Great buying at present, I'm looking forward to averaging down substantially in the coming weeks.

KK