questions..., page-12

Prosperman
Simple answer, yes.
The market has got it wrong, very wrong.
Or at least the holders who sold into the 6 million shares that were traded friday.(Less than 1% of issued shares.)

MEO market cap now $30million.
Not to far off twice the expenditure Eni are outlaying for conducting the current production test on Blackwood 2.

It is worth keeping in mind the allready discovered gas in the Blackwood find is around 2.5 trillion cubic feet. (tcf)
What the production test is trying to ascertain is how much more is in Blackwood deep, and the ability of the field to flow at commercial rates.

The end game for MEO is 25% of the Blackwood field and $75million dollars, should the field be developed by Eni.

I would think the above scenario would indicate fairly strongly that the sellers on 13/12/2012 got it very wrong.

Cheers IFINO