I'm still struggling on and appreciate the discussions on the MEO thread.
I have kept a low profile during the B2 drilling programme. This is part by design and part through necessity. Through all the drills since Heron North my interpretation has not changed the outcome of the drill-bit one iota. Perhaps by my keeping quiet B2 will have more success.
As usual there are more questions than answers but ENI have a tendency to feed us only scraps of info. But this is no different than any other major O&G company who hold the purse strings. It is good that MEO has been able to negotiate with these companies to fork out the big bucks and participate in the permits. MEO have always given us any info they can when they have been the operator.
It will be interesting to see the results of B2 but the extension of the H3 well timetable must mean that ENI are still keen on getting a full map of Plover reservoir system through the area.
It is interesting that no mention has been made of the Epenarra system at either HS1 or B2. I must look more closely at depths of the present drill but I don't want to speculate this time.
There is also the question of 'up to four farmouts' this December quarter. The one that concerns me is Seruway which has cost us a lot of money but is due for renewal in the near future. If MEO need more time then I hope Indonesia will give an extension?
In the meantime I hope all MEOmites, past and present (including our employees) have a wonderful Christmas.
As we always seem to say every year at this time, here's hoping MEO fulfils its promise to create value for LT holders in the New Year.
Good luck all - a notice has been posted. Can't see it yet but lets hope it is good news.
#:>))
MEO Price at posting:
5.0¢ Sentiment: LT Buy Disclosure: Held
