All that has been reported is the completion of the Puka-2 workover which is back in production. In this release it also states that MEO will be entitled to a 30% share of Puka oil production on completion of Puka-3'.
To confuse things even more in the Kea farmout document it states:'Upon assessment of the results of Phase 1, MEO can elect within 6 months to earn an additional 20% participating interest in the Permit by funding NZ$7.5m of a NZ$9m second phase work program ("Phase 2")'.
Hopefully MEO will clarify the situation when it confirms the Puka-3 rig contract to the market.
#:>))
Meo drilling in July is good news.......
much better than doing nothing imo
would help the share price as well....
whilst we we keep waiting. Waitin for news from all the farmout/particial sale going on...
one. Bad decision to not get a carry on guarme has cost Meo a great deal of money which needs to be replenished this can be done if the farmouts come through....
meo meo has a history of getting good deals ....it needs a good deal again.
dyor
MEO Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
