The Government has now indicated that the continued success of the Resources Sector is more vital than ever to the Australian Economy.This places Meo in a unique position in that it has attracted a Major new Resource Company in Petrobras to Australia. The Government will welcome Petrobras with open arms as it brings financial strength and expertise to develop Artemis which could be a major Gas Resource and which could be developed quickly to provide income for the Country. Once Meo supervises the Exploration Well in Artemis , the control and the responsibility to develop Artemis , passes to Petrobras.Therefore for Meo . Artemis becomes a mature Asset which it has a 20% interest in.Meo has become an attractive takeover target. Meo has 20% of Artemis, it has cash, it has a relationship with Petrobras ,it has a strong team of experts in their field and it has other exciting prospects. Possible Suitors are 1. Petrobras : subject again to FIRB 2. Woodside : gains relationship with Petrobas and access to 20% of Artemis Gas and other Meo Projects. 3. Clive Palmer : previously a major Shareholder and supplied funds for drilling of Zeus. Meo does not have any Major Shareholders with the top 20 Shareholders only comprising about 20% of total Shares. If there was to be a Takeover Offer , it would be likely to be before the drilling of Artemis.These are my thoughts only and are submitted purely for comments by other Contributors if felt warranted.
MEO Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
